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

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

    The Dangers of Getting a Paycheck on a Prepaid Debit Card

    Receiving your paycheck on a prepaid debit card may seem like a boon until you discover all the fees that can come with it.
  3. 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.
  4. 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.
  5. Personal Finance

    Bag The Best Bank Account

    Take advantage of the deals banks offer, and find the right account for your financial situation.
  6. Personal Finance

    5 Bank Fees You May Not Know About

    Banking regulations have recently changed and fees are following suit.
  7. Personal Finance

    How Debit Cards Work

    Unlike credit cards, debit cards rely only on the funds available in the user’s account, so they do not let users borrow on credit. They frequently come with purchase limits, and using one at ...
  8. Personal Finance

    8 Ways To Avoid Getting Burned By Prepaid Debit Cards

    These cards have many differences from traditional debit and credit cards that can cost you money if you don't know what to watch out for.
  9. Personal Finance

    Forget Your Bank Account - Use Your Credit Card

    What if you used your credit card as a bank account? Believe it or not, this strange strategy could actually work.
Frequently Asked Questions
  1. Why Do Brokers Ask for Personal Information?

    There are 3 reasons a broker needs personal information: suitability, record-keeping and the law.
  2. How to Get a Company's Prospectus

    Obtaining a company's prospectus—or other financial documents—is now a simple online task.
  3. What Is a Blank-Check Company?

    A blank-check company has a business plan based on a merger or acquisition with another company.
  4. How do central banks inject money into the economy?

    Central banks use several different methods to increase (or decrease) the amount of money in the banking system. These actions ...
Trading Center