When you are opening a new checking account, one of the most important things to consider is the range of banking features that come with the account. Research shows that technology is taking over in banking and financial management in general. According to a survey by the Federal Reserve, nearly half of mobile-phone owners who had a bank account in 2017 reported using mobile banking services in the 12 months prior to the survey. 

6 Must-Have Banking Features

Cer🍸tain bank-accou𝕴nt features are indispensable if you want convenient access to your money as well as the ability to pay bills, make transfers quickly and manage your balances. Some important things to look for when opening a new bank account are:

1. A Debit Card

A 澳洲幸运5官方开奖结果体彩网:debit card allows you to pay for purchases without having to carry cash. If you do need a few bucks, you can hit the ATM or get cash back at the register. In a survey by The Federal Reserve, 30% of consumers chose debit as their preferred way to pay. When opening a ne♈w bank ac🌃count, be sure that a debit card is included and check to see whether there’s any fee for having one.

2. Online and Mobile Banking

Being able to check your balance from your smartphone or laptop is invaluable if you like to keep a close eye on your bottom line. That’s particularly important if you want to 澳洲幸运5官方开奖结果体彩网:avoid expensive overdraft fees. According to the Federal Deposit Insurance Corporation (FDIC), banks with over $1 billion in assets collected more than $11.45 billion in overdraft and non-sufficient funds (NSF) in 2017. Knowing what you have on hand and what you’re sp💧ending can keep you from losing money to fees. 

3. Mobile Check Deposit

Mobile check deposit saves you the hassle of having to make a trip to the bank. You justꦕ snap a picture of your check with your smart phone and, with a few taps of a button, the check is deposited without your ever having to hit the teller window or even an ATM. Just keep in mind that some banks enforce a longer check hold time when you’re making deposits via a mobile device.

4. Online Bill Pay

Online bill pay is another feature that you should look for in a primary bank if you’re tired of writing checks. Federal Reserve data show that 80% of consumers who had paper checks on hand didn't use them even once in 2017; three-quarters used online banking. Pa꧃ying bills online eliminates the has🌸sle of writing checks and mailing them. Even better, you can automate your monthly payments, so you don’t have to worry about paying late.

5. Email and Text Alerts

Wh🍷ile you’re scheduling your automatic bill payments, you should also be setting up text and email alerts for your accounts. You could, for example, set an alert notifying you when your balance drops to a certain point or each time a new transaction posts to your account. That could really come in handy if you’re concerned about a hacker stealing your account information and making fraudulent charges.

6. Excellent Security

Identity theft is no laughing matter. When comparing bank accounts, be sure to ask about 🌜th🍌e security measures a particular bank has in place. Find out, for example, whether fraud monitoring and an on/off switch for your debit and credit cards are available, and take other 澳洲幸运5官方开奖结果体彩网:steps to keꦬep your card transactions safe.

The Bottom Line

One final thing to keep in mind when looking for a primary bank or credit union account is whether or not it is insured. The Federal Deposit Insurance Corporation and the National Credit Union Administration offer coverage of up to $250,000 per deposit account at banks and credit unions, respectively. But they aren’t mandated to have thi🃏s coverage.🏅 When comparing banks and credit unions, check their insurance status to make sure your hard-earned dollars are protected.