5 Reasons You Need a Checking Account

April 13, 2018 | Millie Garland-D'Aprile

Photo of a happy couple using their Mission Fed checking account.

Checking accounts are essential to joining the financial world—even if you never use a paper check. If you’re thinking about when to open a bank account, here are five reasons to do it right now!

  1. Checking accounts keep your money safe.
    Keeping all of your money stashed at home leaves you vulnerable to misplacing it or losing it to theft or even potential disasters like fire, flood or earthquake. When you keep your cash in a credit union or bank, your financial institution protects your money. Additionally, as long as your credit union is insured by the National Credit Union Administration (NCUA), like Mission Fed, your f​ree checking account is federally insured for up to $250,000.
  2. You’ll have a record of payments and deposits.
    If you only use cash, it’s difficult to prove transactions. Unless you keep receipts for every financial interaction, your lack of financial records could prove problematic when you need to dispute a mistake or pay taxes. Checking accounts allow you to keep track of payments made, bills paid and deposits received, giving you a clear transaction record of recent items and your account history. Mission Fed’s Online Banking and Mobile Banking are tools you can use to easily access your Checking Account transactions, Bill Pay, eStatements, Tax documents and more.
  3. Tools to help you budget.
    When you’re spending cash, it’s easy to lose track of how much you’re spending, or it takes additional time to categorize, write down and file receipts every day. Opening a checking account gives you access to budgeting tools offered by your financial institution to help you spend and track your money wisely. Mission Fed offers these tools and more. Within Online Banking you can set savings goals and our Calculator tools can help make big decisions, like buying a car or a home, easier. Plus, Mission Fed even has tools to help you manage your debt.
  4. Getting paid is faster and easier.
    With a checking account you can sign up for direct deposit so that, rather than waiting for a paper paycheck, you can access your money right away on payday. Friends can also pay you back easily by transferring money to your checking account with person-to-person payment services, like Mission Fed’s Popmoney.
  5. Convenient access on your schedule.
    Opening a checking account allows you to take advantage of convenient benefits. Most financial institutions offer online banking, online bill pay, debit cards and more. At Mission Fed, you can even open your Checking Account online! You won’t have to count cash or write a paper check every time you want to make a payment or purchase. Use our free Online Bill Pay, Debit Card or Mobile Wallet at your convenience, no stamps or business hours required.

If you’re looking for a free Checking Account with eStatements in San Diego, consider Mission Federal Credit Union, an established San Diego credit union with knowledgeable and local customer service. We’re happy to answer your questions and help you open a bank account or credit union business account. Stop by and see us—your success is our bottom line.

The content provided in this blog consists of the opinions and ideas of the author alone and should be used for informational purposes only. Mission Federal Credit Union disclaims any liability for decisions you make based on the information provided. References to any specific commercial products, processes, or services, or the use of any trade, firm, or corporation name in this article by Mission Federal Credit Union is for the information and convenience of its readers and does not constitute endorsement, control or warranty by Mission Federal Credit Union.

Millie Garland-D'Aprile

Millie Garland-D'Aprile

Millie Garland-D’Aprile is VP Operations at Mission Federal Credit Union. She has enjoyed several decades of customer service and operations experience in the financial industry, including 22 years at a local community bank and 18 years with Credit Unions. Millie’s primary responsibilities at Mission Fed include branch support, quality assurance, asset protection and fraud, and she is always delighted to share her experience and insights with colleagues throughout the Credit Union. Millie and her team have been working to help protect members by increasing fraud awareness.

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