You know what they say…different strokes for different folks! And when it comes to checking accounts, there’s more than one way to skin a cat. 😧🐱 Ew, that saying is so gross and we don’t know where it came from.
Wondering if you should stick to your trusty free checking account or upgrade to the premium version? 🤔 Read through this bad boy before making your decision. 💰
Here’s Five Fast Facts on premium checking accounts:
- 🌟 Perk Up - While today’s run of the mill checking accounts come with some pretty decent features, premium ones offer a bit more. With an upgrade comes perks like overdraft protection, identity theft monitoring, and early access to your paycheck. You might also earn interest on some of your deposits and get reimbursed for ATM fees.
- 💵 Pay to Play - Of course, these perks come with a price tag. If you spring for a premium checking account, you may have to pay a monthly maintenance fee (usually between $6 and $8). You’ll likely also have to keep a minimum balance in your account or have regular direct deposits over a certain amount.
- 📈 Very Interesting - One of the main perks of souped-up checking accounts are the high interest rates. Some checking accounts earn rates similar to today’s high yield savings accounts. You might also get a bonus payment for opening the account. Free money alert!
- 🚧 Bare Minimum - The main negatives of premium checking accounts are the minimum requirements you’ll need to hit. If you drop below the minimum balance or don’t meet the minimum deposit requirements, you could get hit with fees or lose access to perks.
- 🧐 Checking Choices - So which should you choose? If you’re cool with the standard model and don’t carry large balances, a free checking account probably suits you fine. However, if you’re jazzed about the perks and can hit minimum requirements without breaking a sweat, maybe spring for the upgrade.
🔥Bottom line: No matter which checking account you choose, we wish you a thousand lifetimes free from the overdraft fairy. Retiring soon? Does the thought of a drab nursing home make you wanna cry? Make sure you land in a place that’s chock full of fun! Check out this article for the best places to retire if you live an active lifestyle.
Does your checking account come with perks?
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