Lucy Lazarony

Editorial Disclosure: The editorial content on this page is not provided by any of the companies mentioned, and has not been reviewed, approved or otherwise endorsed by any of these entities. Opinions expressed here are the author’s alone.

A checking account is good for paying bills and a whole lot more.  Curious to see why you should consider a checking account?

Here are 10 reasons you should consider a checking account:

  1. Pay bills. There is no surprise here. A checking account is a great way to pay your bills and manage all your monthly expenses. Need to know where you stand money-wise?  Just check your checking account balance and review the checks that have cleared from your account. 
  2. Paper checks still work.  They may be old-fashioned but those paper checks still work. You could use one for the down payment of a house or a car or for a monthly rent payment. They work for smaller expenses but you will have a lot of balancing to do, reconciling the outstanding checks with your account balance.
  3. Great for direct deposit. Want to get your paycheck as soon as possible?  This is one of the main reasons people consider a checking account. Sign up for direct deposit with your employer. The money will go directly to your checking account, come pay day.  To sign up, you’ll need to share your checking account number and the routing number for your bank, all found on the front of your check, with your employer.    
  4. Great for automated payment.  Set up an automated payment from your checking account  is a convenient way to pay, car loans and home loans and even routine bills. Just make sure you have the cash in your account for the payment. One way to make sure the cash will be there  is to schedule your payments after a pay day when there will be lots of cash in your account.
  5. Multiple accounts are nice.  Want to simplify your monthly expenses? Get one checking account for fixed, monthly expenses and one checking account for variable expenses. It will be easier to check that all your fixed expenses get paid each month and you’ll keep cash for variable expenses such as auto insurance that you pay once or twice a year in a separate account. 
  6. Earn interest.  Interest-bearing checking accounts let you earn interest on your account balance. Do you carry a big balance in your checking account?  Would you like to earn some interest? Check out an interest-bearing checking account. Be sure to shop around for the best deal. 
  7. Get balanced.  Want to know where you stand financially?  Keep your checking account balanced. Does the balance match what you’ve been tracking on your own?  If yes, you are all set. And if no, you have some calculating to do. Get out a calculator and crunch the numbers until it all adds up. 
  8. Online convenience.  Want to make that checking account super-convenient?  Sign up for online banking. You can log into your account 24 hours a day to check your balance and move money between accounts. It is great knowing where you are financially any moment of the day, It is easier to stay on budget with expenses and savings goals too. 
  9. Great for budgeting.  A checking account is where the action is, where a paycheck gets deposited and your bills get paid by check or online payment. Use this account when budgeting for each month and beyond. Start by checking how much is coming in and going out from your checking account each month. This will give you a picture of your cash flow and help you to budget. 
  10. Shop smart for a good deal.  Looking for a good deal on a checking account?  Be sure to shop around. Check with your bank and credit union and online banks too.  What are the balance requirements for the account? Will you be able to meet them? Does the account earn interest? Would you like an account with no balance requirements? Shop carefully and find the account that is right for you.
bank checking account

Overall, a checking account is a versatile bank account that you can use in a variety of ways.  It is good for budgeting, managing expenses, and paying off bills. Again, when considering a checking account, remember to consider the following:

  • Choose a checking account based on your budget. 
  • What are the deposit requirements? Or does the account not have any?
  • Would you like an interest-bearing account?

Lastly, choose the checking account that is right for you and use it wisely, managing your monthly bills without a hitch. Take a look at our picks on the best checking accounts available for you today.

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