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30 comments

  1. “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?
    moneystepper recently posted..Mobile phone quiz – funny maths teacher winMy Profile

  2. 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…
    FI Pilgrim recently posted..August In Review – Income/Expense and Net WorthMy Profile

  3. 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.
    DC @ Young Adult Money recently posted..Reflections and Tips on the Quarter Life CrisisMy Profile

  4. 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.
    John S @ Frugal Rules recently posted..Cancel Your Cable, Save Thousands & Become More ProductiveMy Profile

  5. I have always had a checking account, and I don’t know how I would go without it!
    Michelle recently posted..$9,554 in August Extra Income – Looking for Affiliate IncomeMy Profile

  6. 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.
    Edward Antrobus recently posted..Net Worth Update: August 2013My Profile

  7. 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!
    Joshua @ CNAFinance.com recently posted..How To Make A Budget Spreadsheet That Makes Budgeting Fun!My Profile

  8. 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.
    Romona @Monasez recently posted..I plan to marry in Vegas: Here’s WhyMy Profile

    • 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. 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!
    Marissa@Financetriggers recently posted..Tools that make Personal Finance easyMy Profile

  10. 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.
    Jane Savers @ Solving The Money Puzzle recently posted..Lady Driven And Less Than 100,000 KMMy Profile

    • 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. 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).
    KK @ Student Debt Survivor recently posted..Survivor’s Standouts-Labor Day EditionMy Profile

  12. 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.
    James Molet (SavvyJames) recently posted..Utilizing ‘my’ Social Security AccountMy Profile

  13. I have a free account with ING because, well, who doesn’t like free? I hate paying for things.
    SuburbanFInance recently posted..We Teach Our Children To Become Savers, But Advertising Teaches Them To Become SpendersMy Profile

  14. 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.
    Jack recently posted..The Minimalist Guide to Cashback Rebates (or Coupons Are For Suckers)My Profile

    • 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. 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: http://www.enwealthen.com/2013/08/how-to-buy-personal-checks-without-getting-robbed-by-your-bank/
    Jack recently posted..The Minimalist Guide to Cashback Rebates (or Coupons Are For Suckers)My Profile

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