1. Banking: Introduction
  2. Banking: Why Use A Bank?
  3. Banking: How To Choose A Bank
  4. Banking: Check-Writing 101
  5. Banking: Making Deposits
  6. Banking: Debit Cards and ATMs
  7. Banking: Managing Your Checking Account
  8. Banking: Savings Accounts 101
  9. Banking: Basic Banking Precautions and Safeguards
  10. Banking: Online and Mobile Banking Precautions and Safeguards
  11. Banking: Conclusion

By Amy Fontinelle

Let's recap what we've covered in this tutorial:

  • Banks provide security and convenience for managing your money and sometimes allow you to make money by earning interest. Convenience and fees are two of the most important things to consider when choosing a bank.
  • Writing and depositing checks are perhaps the most fundamental ways to move money in and out of a checking account, but advancements in technology have added ATM and debit card transactions, ACH transfers, online bill pay and mobile transfers to the mix.
  • All banks have rules about how long it takes to access your deposits, how many debit card transactions you're allowed in a day, and how much cash you can withdraw from an ATM. Access to the balance in your checking account can also be limited by businesses such as gas stations and hotels that place holds on your funds when you pay with a debit card.
  • Debit cards provide easy access to the cash in your account, but can cause you to rack up fees if you overdraw your account or visit out-of-network ATMs.
  • While debit cards encourage more responsible spending than credit cards, they do not offer the same protection or perks.
  • Regularly balancing your checkbook or developing another method to stay on top of your account balance is essential to successfully managing your checking account and avoiding fees, declined transactions and bounced payments.
  • If you have more money than you need to manage your day-to-day expenses, banks offer a variety of options for saving, including money market accounts, CDs, high-interest online savings accounts and basic savings accounts.
  • To protect your money from electronic theft, identity theft and other forms of fraud, it's important to implement basic precautions such as shredding account statements, having complex passwords, safeguarding your PIN and only conducting online and mobile banking through secure internet connections.

Related Articles
  1. Tech

    How To Keep Your Debit Card Transactions Safe

    Debit card use has become more popular than ever, but not every consumer knows what they need to do to make sure they keep their debit card safe.
  2. Personal Finance

    6 Reasons You Don't Need A Prepaid Debit Card

    We'll look at six situations where a prepaid debit card might seem like a good idea, but it really isn't necessary.
  3. Tech

    New Bank Account? Don't Be Without These 6 Features

    Certain banking features can make managing your finances easier, so it's important to choose carefully when opening a new checking or savings account.
  4. Personal Finance

    Your First Checking Account

    This owner's manual will show you what to expect from your bank.
  5. Personal Finance

    Debit Cards: Why They're Not As Safe As You Think

    Ditching your credit card can be a smart move, but debit isn't yet an equal alternative.
  6. Personal Finance

    Bank Account Tips For Young People

    If you’re just getting started with managing your own bank account, these tips will show you how to do it right.
  7. Insights

    How to Avoid the Hijacking of Your Credit Cards

    Arm yourself with these strategies on how to safely use your credit and debit cards, and protect yourself from fraud and identity theft with every swipe.
  8. Managing Wealth

    6 Banking Fees You Can Avoid

    There are ways to avoid banking and credit card fees, but it takes planning, commitment and some lucky timing.
Frequently Asked Questions
  1. What's the Best Way to Contact Warren Buffett?

    Learn how to contact Warren Buffett and what kinds of contact is most likely to receive a response from him or from his company, ...
  2. What is the Financial Services Sector?

    A diverse group of companies, beyond banks and credit unions, comprises the financial services sector.
  3. Who are Whole Foods' (WFM) main competitors?

    Whole Foods' main competitors are Sprouts Farmers Markets and Trader Joe's. However, the recent acquisition by Amazon my ...
  4. What caused the Stock Market Crash of 1929 that preceded the Great Depression?

    Find out what led to the stock market crash of 1929, which in turn led to the Great Depression. It sparked a nearly 90% loss ...
Trading Center