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What should I look for in a checking account so I can choose the right one?

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Question added by Siham Amer , Financial Analyst , Noor Al Hikmah Group
Date Posted: 2019/01/31
Ashraf E. Mahmoud (PhD)
by Ashraf E. Mahmoud (PhD) , University Lecturer, Freelancer Consultant and Trainer for Int'l Business & Banking TF. , FreeLancer

Thanks for invitation,

I do believe that, the main terms and conditions you have to look for any checking account are the following:

1- What is the minimum balance has to be available, if any ?

2- If the checking account is bearing interest or it is non-bearing interest ?

3- If the checking account is allowing any overdraft balance ? and what is the overdraft interest in such case ?

4- If the checking account is already included on the online banking advice ?

yousif shah
by yousif shah , Senior Accountant , TIMES Institute Multan

  1. Use your checking account to hold only the money that you use for paying bills and making day-to-day transactions. ...
  2. Online banks and credit unions often offer competitive interest rates on checking accounts.
  3. Examine your bank's overdraft and other fees and ask when they were last changed.

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