Choosing An Account
This table can help you choose an account that has the features that will benefit you the most.
| Feature | Traditional Checking |
Checkless Checking |
Savings Accounts |
|---|---|---|---|
| Summary | Transactional account that uses debit cards and checks | Transactional account that uses only debit cards and does not allow you to overdraft | A place to save with limits on the number of withdrawals and transfers |
| Overdraft | Yes – Fees Apply | No | No |
| Interest Earning | No | No | Yes |
| Government Insured | Yes | Yes | Yes |
| Monthly Account Fee | Sometimes | Sometimes | Rarely |
When choosing an account, try to pick one that has the features that will benefit you the most.
An account that uses debit cards and checks. Get access to bill pay, online banking, money orders, and cashier’s checks. Have the ability to overdraft which could come with costly fees. No interest is earned, but money is safe!
A transaction account that does not allow you to overdraft or receive non-sufficient funds (NSF) fees. The account uses a debit card, but no checks. Get access to bill pay, online banking, money orders, and cashier’s checks! No interest is earned, but money is safe! This account might have a small monthly fee. Past issues will not keep you from getting an account since you have no ability to overdraft.
An account with monthly limits on the number of withdrawals and transfers. Not meant high volume, instead it is a secure place to keep your money that earns interest! Up to six unsigned transfers a month (when you don’t sign or use your pin to make a transfer).