Opening a new checking account is an important step in managing your everyday finances. Whether you’re starting your first account, switching financial institutions or looking for better account features, the right checking account can make it easier to pay bills, manage spending and reach your financial goals.

Before opening a new checking account, take a few minutes to compare your options. Asking the right questions can help you avoid unnecessary fees and find a checking account that fits your lifestyle.

 

Are There Monthly Maintenance Fees?

Some checking accounts charge a monthly maintenance fee simply for keeping the account open. Others may waive the fee if you meet certain requirements, like maintaining a minimum balance or setting up direct deposit.

For example, our Simply Free Checking account is a free account with no monthly fee and no minimum balance required.

With our Premium Interest Checking account, you can earn a higher interest rate and the monthly fee is waived if you keep more than $1,500 in your account.

If you set up direct deposit with our Direct Interest Checking account, you’ll earn interest and have no monthly fee.

Our Benefits Checking account has a $7 monthly fee, but the account offers several benefits and savings options like cell phone protection^1,2, identity theft aid^1,2 and roadside assistance.

Be sure to understand exactly how fees work before opening a new checking account. Ask whether there are ways to avoid the monthly fee and what happens if you don’t meet the requirements. A checking account with fewer fees can help you keep more of your money where it belongs—with you.

 

What Are the Overdraft Options?

An overdraft happens when you spend more money than you have available in your checking account. While this can happen to anyone, overdraft fees and declined transactions can be frustrating and expensive.

Ask what overdraft protection options are available. Some financial institutions may offer transfers from a savings account, a line of credit or other tools to help cover transactions. It’s also important to ask about overdraft fees, available balance alerts and mobile banking notifications. These features can help you stay informed and avoid surprises.

 

How Convenient is Access to My Money?

Think about how and where you typically manage your finances. Does the checking account provide access to a reliable mobile banking app, online banking, shared branches or a convenient ATM network?

Look for features that make everyday banking easier, such as mobile check deposit, online bill pay, person-to-person payments and mobile card controls. If you prefer personal service, consider whether local branch representatives are available to answer questions and provide support.

 

Are There Transaction or ATM Fees?

Checking accounts may come with fees for using out-of-network ATMs, ordering checks or completing certain types of transactions. Ask for a complete fee schedule so you know what to expect.

If you frequently use cash, find out whether your financial institution offers surcharge-free ATM access. Also ask whether there are limits on monthly transactions or fees for using your debit card. Understanding these details can help you choose an account that matches your spending habits.

 

What Additional Benefits Are Included?

The best checking account may offer more than a place to deposit your paycheck. Ask about benefits such as early direct deposit, identity theft protection, budgeting tools, financial education and access to other products or services.

As we already mentioned, our Benefits Checking account offers several benefits and savings options. Visit
PartnerColoradoCu.org to view all the benefits.

A trusted credit union may also provide personalized guidance to help you make informed financial decisions. Look for an account designed to support your financial well-being, not just process transactions.

 

Choose a Checking Account that Works for You

Before opening a new checking account, compare fees, access, overdraft options and included benefits. The right checking account should be convenient, affordable and easy to understand.

At Partner Colorado, we’re here to help you move ahead with confidence. With member-focused service, helpful resources and convenient banking tools, we make everyday banking feel a little more neighborly.


¹Subject to the terms and conditions detailed in the Guide to Benefits. ²INSURANCE PRODUCTS ARE: NOT A DEPOSIT. NOT FEDERALLY INSURED. NOT AN OBLIGATION OR GUARANTEED BY THE CREDIT UNION, ITS AFFILIATES OR ANY GOVERNMENT AGENCY.