What you must know before you apply online for a checking account.
Here is a short list options you may want to consider before
you choose an online checking account. What to look
for, what to avoid, and how to get the maximum
out of your online checking account.
If your considering opening an online checking account, there are a couple of key points you should consider when you you apply online for a checking account.
'True' Online Checking?
Make certain your online checking truly is 'online'. Many brick &
morter banks offer 'online checking', but aren't actually online
accounts. They may give you the ability to check your balance
and pay bills. A true 'online checking account' is basically a
checking account, without the 'paper' checks. Routing and
account numbers, direct deposits, everything a traditional
checking account has to offer. When you apply for a checking
account online, be sure it fits all of your online banking needs.
Credit Checks:
Most online checking accounts are very lienient on a negative
or bad credit history. In fact, you will find that when you apply
online for a checking account, many online banks offer
"100% approval", or no credit check at all. This can also
be a great advange for thos with less than great credit
history, allowing one to rebuild credit with a Visa prepaid
debit card, for example.
Free Direct Deposit?
It's also important to make sure that when you apply online
for checking account that they offer 'free' direct deposit. Many
prepaid debit card and online checking accounts offer the
convienience of direct deposit.
Debit Cards: Visa or Mastercard logo.
Personally, I prefer Visa it really makes no difference if you
have a Visa prepaid debit card, or mastercard. They are both
very well known brands, though I find my Visa debit is accepted
at more vendors, online and off. It's a personal preference,
just make certain you have a major brand name associated
with you prepaid debit card and online checking account.
Ron Butterfield is a Loss Mitigation Specialist and aspiring
author. He lives in sunny Redondo Beach, California.
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