Choose the Right Checking Account - Part II

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Please read Choose the Right Checking Account - Part I first before you read this Part II.

In addition to Premium Checking Account, Easy Checking Account and Student Checking Account, most of the banks offer other types of checking accounts for you to choose from such as:

1. Silver checking account
2. Gold checking account
3. Platinum checking account

Silver Checking Account
When you open a Silver Checking Account or a similar account, the bank offers all or some of the following benefits:

1. Free bank VISA check card or debit card
2. Free notary service for your documents
3. Free ATM transactions at all ATM machines owned by the bank
4. Free email and text alerts on your bank account
5. Free Internet banking with bill payment
6. Preferred interest rates on new loans

The Silver Checking Account charges monthly maintenance fee of $6.95 with online bank statements send to your email or $8.95 with paper bank statements deliver to you by mail.

You can waive the payment of monthly maintenance fees ($6.95 or $8.95) if you meet one of the following 3 conditions:

1. If you make a monthly deposit of $25 plus automatic transfer to a Package Money Market Savings account, or
2. If you make a monthly combined direct deposit to your account amounting to $500 or more, or
3. If you maintain an average daily account balance of not less than $1,500.

Gold Checking Account
When you choose a Gold Checking Account, the bank offers some or all of the following benefits:

1. Free bank VISA check card or debit card
2. Free notary service for your documents
3. Free ATM transactions at all ATM machines owned by the bank
4. Two free ATM transactions at ATM machines not owned by the bank per monthly statement cycle
5. Free email and text alerts on your bank account
6. Free Internet banking with bill payment
7. 25% monthly bonus on all rewards earned for the net purchases with your bank-issued VISA credit card
8. 5% annual interest rebate on your bank-issued VISA credit card
9. Easy checking accounts with no monthly maintenance fees
10. No fees on the first overdraft occasion
11. Lower fees for overdraft protection transfers

The Gold Checking Account charges monthly maintenance fee of $10.95 with online bank statements send to your email or $12.95 with paper bank statements deliver to you by mail.

You can waive the payment of monthly maintenance fees ($10.95 or $12.95) if you meet one of the following 4 conditions:

1. If you make an automatic payment to your personal loan, line of credit, or credit card administered by your bank, or
2. If you make an automatic monthly deposit to your investment account with your bank, or
3. If you make a monthly combined direct deposit of not less than $500, or
4. If you maintain an average daily account balance of $2,500 or higher

Platinum Checking Account
When you choose a Platinum Checking Account, the bank offers some or all of the following benefits:

1. Free bank VISA check card or debit card
2. Free notary service for your documents
3. Free ATM transactions at all ATM machines owned by the bank
4. Unlimited free ATM transactions at ATM machines not owned by the bank
5. Free email and text alerts on your bank account
6. Free Internet banking with bill payment
7. 50% monthly bonus on all rewards earned for the net purchases with your bank-issued VISA credit card
8. 10% annual interest rebate on your bank-issued VISA credit card
9. Easy checking accounts with no monthly maintenance fees
10. No fees on the first overdraft occasion
11. No fees for overdraft protection transfers
12. Free checks (with bank logo printed) or 50% off on all other personal styles
13. Free traveler's checks, money orders, cashier's checks and others
14. Interest income on your account
15. Lower annual fees with a bank home equity line of credit
16. Up to a $1,000 discount on home mortgage
17. 50% discount on new annual safe deposit box rental fee

The Platinum Checking Account charges monthly maintenance fee of $17.95 with online bank statements send to your email or $19.95 with paper bank statements deliver to you by mail.

You can waive the payment of monthly maintenance fees ($17.95 or $19.95) if you meet one of the following 2 conditions:

1. If you maintain $25,000 in combined personal deposit, investment and/or credit balances, or
2. If you maintain a relationship account with bank's trust services

The benefits of the Premium Checking Account, Easy Checking Account and Student Checking Account are discussed in Choose the Right Checking Account - Part I.

Tips
1.  Open a bank checking account with a minimum balance of $500 or less to avoid paying monthly maintenance fees.

2.  Once you receive your bank's VISA check card or debit card, photocopy the front and back side of the card and keep the photocopy in a secured place.  In case you lost or misplace the card, you can show the photocopy to the bank for card replacement.

3.  When you access your bank account online, see to it that the address bar appearing on your computer screen shows the symbol "https", (example: https://www.yourbank.com) which means that you are entering a secured website.

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