Getting the Most Out of Your Checking Account

Here's some ways to manage your checking account

 

Set up Direct Deposit

One of the easiest ways to get the most out of your checking account is to set up direct deposit.

How to set up direct deposit

• Your employer likely has a direct deposit form or online site. Remember to bring a voided check with you when you start a new job to supply the information needed.

• You can also download our direct deposit form, fill out the information and transfer the information onto your employer’s direct deposit form when you get to work.

Sign up for Online Banking and Mobile Banking

Enrolling in online banking allows you to monitor your accounts, including your transaction history and your balance, simply by logging in. Mobile banking allows you to do the same via your phone or tablet. Additionally, by banking online you can quickly access accounts, order checks, pay bills and transfer money, track spending, set alerts and manage your accounts from almost anywhere.   

Take advantage of your Debit Card

With a debit card, you can access your checking account conveniently and securely, without the hassle of cash or checks. You can use a debit card at millions of locations worldwide, including places that don’t take checks such as online merchants. Debit cards can also be used at ATMs for deposits, withdrawals and transfers between your accounts. With debit cards, your purchases and withdrawals are deducted directly from your checking account. Debit cards also offer security if your card is lost or stolen or if fraudulent purchases occur.

Transfer funds between accounts

If you have a checking and savings account at Bank of Bourbonnais and these accounts are titled the same, it’s usually fairly easy to transfer money between your accounts. You can link your accounts to transfer between them.  If you know you have a certain amount of money in your checking account at a certain time each month, you might consider setting up an automatic transfer to your savings account. Automating the process can be a great way to build your savings.

Manage Overdraft Fees

You’re charged an overdraft fee when you spend more money than you have in your account. The best way to avoid these fees is to keep an eye on your account balance or to set up alerts. At Bank of Bourbonnais we offer deficit transfers, which allows you to link an eligible checking account to other eligible accounts for a fee to cover you in case of an overdraft. 

Take advantage of Alerts

If you’re enrolled in online banking, you can set up alerts to notify you via email or text of certain activity. For example, you can set up balance alerts for when the funds in your account drop below a certain amount, which can help you avoid overdraft fees. Just make sure we have your up-to-date cell phone number and email address.

Set up Automatic Payments

Setting up automatic payments for recurring bills can help ensure you pay your bills on time with no hassles. This common checking account feature can help eliminate worry (no need to wonder whether your check was lost in the mail), save you money on stamps and free up your time. Automatic payments can also be a good way to help ensure your bills are paid on time when you are traveling.

Know how you're protected

Security features to help protect you if your debit card is lost or stolen are available, including monitoring for unusual activity, and protection against liability for fraudulent transactions reported within a specified period.  It’s also important to know that federal law limits your responsibility if your debit card is stolen, but you must act quickly!