No one writes checks anymore, right? So, why do you need a checking account? As online banking and person-to-person payment apps continue to rise, many people believe this account is obsolete. However, you may not want to write off opening a checking account just yet.
Why do you still need a checking account? What are the main benefits of having one?
Today's checking accounts or digital transaction accounts offer more than checks. Checking accounts bring benefits that digital wallets lack, including bill pay and mobile check deposits. Mobile apps allow you to see, in real-time, where your money is going and what is coming in. Checking accounts also provide access to cash via an ATM debit withdrawal.
How does having a checking account help establish your financial path?
Opening a checking account is an excellent way to establish a relationship with a financial institution. Through institutions, you gain access to better loan rates, financial guidance, retirement planning services, budgeting resources, and more.
Many financial institutions offer the following perks as part of their checking accounts:
- Free access to your credit score via mobile banking app
- Rate discounts on consumer loans
- Rewards points—Mountain America MyStyle checking account* members receive exciting awards like travel rebates, gift cards, and cashback
- Control over your card—change your PIN, set travel notifications, and request a new or replacement card using a card manager
So, before you completely rule out needing a checking account, consider the benefits of having one and how it can help you manage and grow your finances.
To learn more about Mountain America Credit Union and the benefits of a checking account, visit macu.com/must-reads or tune into their podcasts on the Mountain America YouTube channel.
* Insured by NCUA
*Membership required based on eligibility
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