Many consumers are tired of dealing with their financial institutions with regards to their checking accounts. Others are dissatisfied with poor account service. That is why many are looking to open a new checking account in Altoona PA. There are a number of things that consumers should look for when getting a new checking account. For example, an overdraft protection program can be very helpful in avoiding bounced checks. Online bill pay is another important feature that many consumers need. Fortunately, there are many financial institutions that can provide new checking accounts with many features such as ARC Federal Credit Union.
A reason why financial institutions make a lot of money from checking accounts is the fee income. In particular, banks can make a lot of money by charging overdraft fees when account balances fall below zero. To help consumers avoid the embarrassment and the costs of bouncing checks, it is a good idea to look at getting a checking account in Altoona PA that has overdraft protection available. Depending on the financial institution, checks and other debits that cause the checking account balance to fall below zero can be paid from a credit line, credit card, or savings account. Many credit unions are willing to pay overdrafts up to several hundred dollars without the need to be approved for a credit line. This feature alone can save consumers hundreds of dollars in fees every year.
Another important feature for consumers to get when getting new checking accounts is online bill pay. Paying bills online rather than mailing checks is a great way for consumers to save time and money. Paying bills online takes a lot less time than writing a paper check and taking the check to the post office for mailing. With online bill payment, a few clicks are sufficient to pay a bill. Furthermore, there is no need to purchase postage to pay bills. Another advantage is that the creditor may be paid faster than if the payment is mailed. This can be an important factor when the due date is near. That is why many looking for checking accounts want to make sure that online bill pay is included.
