It will not cost you any money to cash your checks. Use our calculator to find out how much you may be spending every year cashing checks or buying money orders to pay your bills. A checking or savings account will help you better control your budget and allow you to pay bills directly without having to use money orders.
Without an account at a bank or credit union to keep your money safe, you and your family could easily lose your money to theft or fire. When you deposit money into a bank or credit union, it is protected by the federal government – insured by the Federal Deposit Insurance Corporation or the National Credit Union Administration. In fact, up to $250,000 of your money is protected.
With a checking or savings account, you can deposit your checks and access your money for little or no cost. You write checks or go online to pay your bills. You can use your debit card to make purchases at stores or to withdraw money from ATMs. Also, you can keep track of your spending online, by phone, at the ATM, or at the bank or credit union teller.
It helps you save for the future
Do you want to own a home? Or save for your children’s college education? Having a bank or credit union account makes it much easier to save your money and reach your financial goals. You can earn interest on your money in your savings account, and banks and credit unions offer options for financing a college education.
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