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  1. September 3, 2013 at 4:53 am — Reply

    “One is to ask that your debit card be set to deny if you don’t have sufficient funds for the purchase you are trying to make.”

    This seems like the most sensible thing to do. Is this option available for all checking accounts?

    • September 5, 2013 at 10:42 am — Reply

      I did this on my account as I want to know if I am going to overdraft and not have to pay the fee.

  2. September 3, 2013 at 6:05 am — Reply

    I agree with Moneystepper, turning off the “overdraft protection” service is a good idea. Once I did that a couple of years ago, my bank prompts me to turn it back on all the time, but I know better…

    • September 5, 2013 at 10:42 am — Reply

      Overdraft protection really only makes the bank money and doesn’t do you any favors.

  3. September 3, 2013 at 6:54 am — Reply

    I have a friend who didn’t open a checking account until he was in his 20s. How he did that I will never know, because even in high school I had a checking account and was paying bills with it. Hard to imagine living without one.

    • September 5, 2013 at 10:43 am — Reply

      Wow, I couldn’t imagine not having one.

  4. September 3, 2013 at 7:53 am — Reply

    The setting your card to deny if you don’t have the funds to cover the purchase is a great idea. I worked at a bank right out of college and people are always getting slammed with overdraft costs and such. Something like that might help some people avoid those costs.

    • September 5, 2013 at 10:43 am — Reply

      The banks make so much money on these fees that it really doesn’t make sense to have it enabled. Turn off overdraft protection.

  5. September 3, 2013 at 8:32 am — Reply

    I have always had a checking account, and I don’t know how I would go without it!

    • September 5, 2013 at 10:43 am — Reply

      I am with you there Michelle.

  6. September 3, 2013 at 8:33 am — Reply

    Can you live without a checking account? Well, yes, but prepaid debit card fees and check cashing fees are easily twice as expensive as a what you would pay for a checking account with a monthly fee.

    • September 5, 2013 at 10:44 am — Reply

      Of course you can live without one. Millions of people do, but they tend to pay more for access to their money than ones with checking accounts do.

  7. September 3, 2013 at 9:59 am — Reply

    I remember when credit cards didn’t give you the ability to automatically deny over limit purchases. That’s definitely a great idea to set up these days! Thanks for the great read!

    • September 5, 2013 at 10:44 am — Reply

      That changed when the economy tanked and the banks had to be bailed out.

  8. Romona @Monasez
    September 3, 2013 at 11:40 am — Reply

    I’m not a fan at all of prepaid cards. The fees they charge are crazy. But I have a student checking account n everything is going great with it. At one point I had over draft protection but it was killing me by draining my savings. I find that having the bank app on my phone and checking my account that way has worked best for me.

    • September 5, 2013 at 10:45 am — Reply

      There are some prepaid cards that don’t charge the crazy fees. Yes, they have fees, but they are not outrageous. I see some advantages to prepaid cards in the right circumstances.

  9. September 3, 2013 at 3:36 pm — Reply

    There are some people who have lived without checking accounts, I don’t know how or why but I do agree one needs it. Setting a limit is always is a great idea not only for checking accounts but for a lot of things, too!

    • September 5, 2013 at 10:45 am — Reply

      It makes life much easier to have one.

  10. September 3, 2013 at 9:30 pm — Reply

    I had an emergency visit from the plumber on Labour Day and they don’t take credit cards. I have 50 cheques and can’t ever imagine using them all but the ones I do use go to small businesses, like the plumber, that come to my home.
    I do have a traditional chequing account but it is stripped of any bells and whistles and I would have to pay extra to view an online copy of the cheque I just wrote to the plumber. Gone are the days were your cancelled cheques came back to you in the mail. Soon cheques will be a memory. I will keep one to show my future grandchildren.

    • September 5, 2013 at 10:46 am — Reply

      Wow, a plumber not taking a credit card! That is crazy. They are guaranteed the money and they could lose some if checks bounce. I would rather pay the processing fee for a credit card than deal with checks.

  11. September 3, 2013 at 10:41 pm — Reply

    I have a Capital One 360 checking and savings account (had them both since they were ING). I’ve had nothing but good experiences with Capital One. I really like the check deposit feature (I have the app on my iphone).

    • September 5, 2013 at 10:46 am — Reply

      Thanks for the feedback KK.

  12. September 4, 2013 at 9:09 am — Reply

    While dealing with a bank can sometimes be frustrating, they generally provide valuable services. My bank is a smaller organization that provides good service. I haven’t had any issues with them in the 13 years I have been doing business with them.

    • September 5, 2013 at 10:46 am — Reply

      I agree here James. They still provide valuable services, but their fee structure is getting out of hand.

  13. September 4, 2013 at 11:04 pm — Reply

    I have a free account with ING because, well, who doesn’t like free? I hate paying for things.

    • September 5, 2013 at 10:46 am — Reply

      I love free!

  14. September 6, 2013 at 10:44 pm — Reply

    I love my checking account, at least the one I have at my local credit union. Very low fees, great service, and access to a worldwide network of credit union ATMs.

    So I was disappointed when they tried to gouge me on buying new checks when I opened a new joint account with my wife. I wrote about my best source of inexpensive personal checks on Enwealthen if you want to check it out.

    • September 7, 2013 at 3:13 pm — Reply

      Did the credit union try to gouge you when you went to get checks or your regular checking account. I have accounts with a big bank and with a credit union. They both have purposes.

  15. September 7, 2013 at 4:21 pm — Reply

    We were opening a new joint account together, but we both were already members of the credit union. They just charged twice what I could pay elsewhere, and that didn’t even include shipping & handling.

    More details if you’re curious:

    • September 8, 2013 at 10:24 am — Reply

      I hate buying checks. Thanks for sharing Jack.

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