These days, many people are appreciative of the opportunities made possible with technology-driven finance. It offers a great deal of convenience to those who don’t want to go to the bank to make withdrawals physically, cash checks, make payments, open/close accounts, and so forth. All you need is a computer or mobile device to open up a personal checking account in this day and age.
This comfort means that even traditional brick-and-mortar banks are transitioning online, giving consumers 24/7 access to their funds. Online banking allows for lower fees and better rates overall, although they are not all equal. Some still don’t have enough security protocols in place or have a web portal that is poorly designed. Some banks lack quality cyber security with their websites or apps as well.
Even though banks will secure your money with most online banking products with the FDIC, there is still a possibility of cyber theft if there is a security failure with the bank and your personal information is compromised. Read online reviews on various banks, and check for news articles about any bank you are interested in to find out if any reports of security breaches in the past.
Only open a personal checking account with a financial institution that utilizes state-of-the-art encryption technologies and industry-leading security procedures to guard users’ personal information. Check the “Security / Privacy” page of the website to see what the protocols are. There should be a guarantee that the bank will protect your account from unauthorized access and that dedicated fraud specialists are available.
Personal Checking Account Without Fees
Another thing to look for is the types of fees involved with an account. For example, you might be required to deposit and maintain a certain amount of money to waive all fees. If you don’t think you’ll be able to keep very much money in a personal checking account or cannot meet future requirements, look for a bank with $0 fees.
There might be an option to choose from a few different accounts, such as essential checking that includes the basics, such as early deposit and $0 fees, or a “High Account Balance” account that offers an APY. An online bank might even offer “Cashback checking” for frequent debit card users who want to earn cashback for purchases.
One bank that offers all of these benefits with a personal checking account is Axos Bank. It’s a top bank with the best digital security, FDIC-insured accounts, specialized accounts, and 24/7 customer support. In addition, there are no unnecessary fees, regardless of which type of account you open.