What are the benefits of a personal checking account?

What's so great about opening up a checking account or why would you want to open one up?
What are the benefits of a personal checking account?
1. If you apply for credit card, they want you to have your own checking account. (You need to have a credit card, so you can develop your credit history.)


2. You will need to pay your bills (phone, electric, water, cable, etc.). For this, you will have to write a check, or pay them online. In order for you to write a check or pay bills online, you will need to have a checking account.


3. Paying for things at the cash register. When you buy groceries for your family, the balance to pay is easy into $100 per trip. It is a hassle to carry hundreds of bucks in your wallet at all times. Much easier, just to slide a debit card at the cash register. And you won't have to worry about change back.


4. Most emloyees in now days don't give you a paycheck to cash it out, but do the direct deposit straight into your checking account.


5. Buy things online.
Reply:Having a Personal Checking Account is one of the big steps you take as you mature and enter adulthood.


It shows that you are organized, responsible and capable of managing your life.





It will give you total control over your own finances and ability to write checks to pay bills, etc. plus a secure location to deposit your pay checks, refund checks and other income you might earn.


You can also get a Debit Card that you can use instead of using money and writing checks...very convenient.


When applying for a credit account, it shows stability if you are established with a bank account.





How are you going to pay your bills if you can't write check?


pay cash?


buy a money order?


I don't think so.
Reply:Everybody that's posted before me, have brought up exceptional answers that I would've already said. One thing that I would like to touch upon is that checking accounts PROTECT YOUR MONEY! Let me paint a scenario fo you: It's friday, you just got paid, you go to the check cashers or the grocery store to cash your check. Well right there you're spending money to cash a check that you worked 40 some odd hours for. Now having said that, some not-so-nice person is sizing you up all this time unbeknowst to you. They know that you just cashed your check, with a purse or pocketful of bills, making you a walking bank-vault that's ripe for the pickings...Get my drift yet?





Another thing is that cash spends quicker when it's in-hand, not to mention unless you have a phtographic memory and a mind like a steel trap, there's a chance that you will forget where you spent your money.





Just the thought of those two things wakes me up in the middle of the night. Take it from the people that's answered this. It will help you in the long run.