All Checking Accounts Are Not Created Equal

If you are thinking of opening a new checking account, the first thing you need to know is that they’re not all alike. Most people just assume that a checking account is a checking account. They go to the nearest bank, or the bank that they’re most familiar with, without ever taking the time to compare checking account terms and benefits. All checking accounts do have similarities, like the fact that your funds are easily accessible and transferable, but the costs and terms can differ greatly. Here are the most important things to look for when shopping for a new checking account.

Opening up a checking account without evaluating your needs and the options offered by various banks and credit unions is likely to net you an account that’s not the best choice for you. You can avoid future disappointments by taking a little time to think over how you use your checking account and what features are available.

The first step is to compose a list of things that you would like to be able to do with your new checking account. Here are a few of the more common features, some of which you may want and some of which you definitely won’t want.

Most banks and credit unions have a stated policy regarding holding funds deposited by check. For example, you might deposit a local check into your account. Your bank might put a hold on the funds, or a portion of the funds, for three business days. But if you deposit a check from a foreign bank, your bank might put a seven day hold on the funds. If you don’t need access to your funds immediately, you probably don’t mind this. But if you regularly deposit funds and need access to them right away, this practice could present a problem, especially if your deposits come from out of state banks. This would be the case if you process checks from customers and need the funds fairly quickly for payroll or other time sensitive expenses.

When you’re checking out which account might be right for you, be sure to ask about their check holding policies. It may be possible to arrange for an exception for checks from specific accounts, for example your employer or pension fund. If the financial institution you’re talking to can’t accomodate your needs in this regard, it’s time to investigate another bank or credit union.

Minimum balance requirements are important too, depending on how much you regularly keep in your account. If you are able to, you might consider an interest bearing checking account with a fairly high minimum balance requirement. These type of accounts often offer interest on your balance. But be careful. If you drop below the minimum balance even once, all your interest earnings could be wiped out. Have you thought about overdraft protection? This means that if you write a check for more than the balance available in your checking account, your bank will cover it. In essence, it’s an unsecured short term loan for the shortfall.

If you’re looking for a new checking account, don’t just go to the same bank you’ve always used, assuming that all checking accounts are the same. There are many differences in features and fees between one bank and the next. If the credit union or bank you’re working with doesn’t offer the best terms on the kinds of services you use, keep looking. You’re sure to find a financial institution that can meet your needs with reasonable costs.

The Best Way To Shop For Motorcycle Insurance

Motorcycles are actually much more potentially dangerous than motor vehicles when it comes to accidents. None of us ever know when we may be involved in a terrible accident. And we need to protect ourselves financially by obtaining insurance coverage. Think of it as an investment. There are several reasons to think about insurance before you have a problem and make sure you’re covered.

You take a risk every time you get on your bike. And there are many states that require their bikers to obtain this coverage before they can legally hit the pavement on their impressive bikes. However, the good news is that there are many ways one can find affordable coverage these days that will offer you protection without breaking the bank. Many people are looking for ways to save money on everything, and now they can stretch their budget a little further by doing some research and shopping around for their insurance coverage. A motorcycle insurance comparison can go a long way.

There are many ways to shop for motorcycle insurance. You could call your existing company, contact an insurance agent, or ask a friend for a referral. But modern technology has brought with it the convenience of the Internet. Those who shop there often save more and spend less time shopping around comparing coverages.

One of the best ways to shop online is by using free quote sites. These sites will give you a side by side comparison of different policies and insurance companies quickly. All you have to do is enter some personal information on a profile page, and then after submitting this, the site will process your information to offer tailored results.

Insurance rates are determined based on several risk factors, including your age, driving experience and history of tickets and accidents. The model and price tag of your motorcycle play an important part too, as does the zip code you live in. So all this information is necessary to get appropriate results.

When using a quote site, you can view the results and then spend some time deciding which plan may be best for you. Don’t just pick the cheapest one and call it a day. Look at what is covered and what the limits of each coverage are. Find the one that meets your needs at an affordable price.

Narrow your choices down to three or four companies, and then contact each one to find out what discounts they offer than you could take advantage of. You might be surprised at the discounts available on motorcycle insurance. Many companies offer student discounts, good driver discounts and discounts for having multiple insurance policies with the same company. This could help you shave a little more off the quotes, but you won’t get the discounts unless you ask.

There are other ways of finding affordable policies, but these often take a lot of valuable time. Instead of wasting time waiting for return calls and being pressured by sales people, sit down at your own computer at any time that’s convenient for you. Anywhere that you have Internet access, you can search for rates using these quote sites. It is not only convenient and efficient, but easy to use.

You should be able to enjoy your luxury motorcycle. But adding to this peace of mind by investing in a high quality insurance policy is truly priceless. You can feel confident that no matter what unexpected events come your way, you will not have to worry about coming up with an enormous amount of money in a hurry.