Simple Bank Checks: A Guide to Basic Banking

Simple bank checks are a thing of the past, but understanding how they work can still be helpful for those who need to use them.

Most banks have a standard check format, which includes the bank's logo, the account holder's name, and the account number.

The check also includes a memo line for the payee to write in what the payment is for.

To write a check, you'll need to fill in the date, the payee's name, and the amount in both numbers and words.

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A Simple Checking Account is a type of bank account that offers basic banking services with some added perks.

You'll typically find a low or no monthly maintenance fee, but be aware that some accounts may charge a small fee for certain services.

One thing to keep in mind is that some Simple Checking Accounts come with conditions that trigger a fee if your balance falls below a certain threshold, like $500.00.

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A Simple Checking Account is a great option for everyday banking needs. It's designed to be easy to use and understand.

One of the features of a Simple Checking Account is the imposition of a cycle service charge of $8.00 every month if your daily balance falls below $500.00 on any day of the month.

You can avoid this fee by keeping your daily balance at or above $500.00 every day of the month.

Receiving a $100 lender credit is another perk of a Simple Checking Account, specifically when you originate a mortgage loan with Origin Bank during the life of this account.

This credit can be a nice bonus, especially if you're planning to take out a mortgage in the near future.

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Having a simple checking account can save you money on fees, which can add up quickly - some accounts have monthly maintenance fees that can cost up to $20.

A simple checking account typically has no overdraft fees, which can be a huge relief for those who occasionally overdraw their account.

You can also expect to earn interest on your deposits, which can help your money grow over time.

Simple checking accounts often come with debit cards, which can be used for purchases and withdrawals just like a credit card.

With a simple checking account, you can also take advantage of online banking and mobile banking apps, making it easy to manage your finances on the go.

By choosing a simple checking account, you can avoid the temptation to overspend and stick to your budget, which can lead to a more stable financial future.

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With a simple checking account, you'll need to be aware of the fees associated with it. A cycle service charge of $8.00 will be imposed every month if the daily balance on any day of the month falls below $500.00.

You'll also want to take advantage of the perks that come with this account, such as receiving a $100 lender credit when you originate a mortgage loan with Origin Bank during the life of this account.

There are several types of fees associated with simple checking accounts, and understanding them can help you avoid unexpected charges.

Monthly maintenance fees are common, with some banks charging up to $25 per month for low balance accounts.

Some banks offer ways to waive these fees, such as maintaining a minimum balance or receiving direct deposits.

Overdraft fees can be steep, ranging from $20 to $35 per overdraft, and some banks charge multiple fees for the same overdraft.

ATM fees can add up quickly, with some banks charging $2 to $3 per withdrawal at non-network ATMs.

Some banks offer reimbursement for ATM fees at non-network ATMs, which can save you money on these charges.

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Fees can be calculated based on a variety of factors, including account type and balance. Monthly maintenance fees, for example, are often charged to accounts that don't meet certain balance or activity requirements.

Some banks charge a flat fee for services like overdraft protection, while others may charge a percentage of the overdraft amount. This fee can range from 10 to 35% of the overdraft, depending on the bank's policies.

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Other fees, like ATM fees, are often charged per transaction. These fees can be waived if you have a certain number of qualifying transactions or if you use an in-network ATM.

Minimum balance requirements can also impact fees. If your account balance falls below a certain threshold, you may be charged a monthly maintenance fee. This fee can range from $5 to $30, depending on the bank and the account type.

Some banks also charge fees for services like check writing or debit card usage. These fees can be a flat rate or a percentage of the transaction amount.

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To open a simple checking account, you'll typically need to provide some basic personal and financial information.

You'll usually need to be at least 18 years old to open a checking account, as most banks require customers to be adults.

Some banks may also require a minimum initial deposit, which can vary from bank to bank, but it's often around $25-$100.

You'll also need to have a valid government-issued ID, such as a driver's license or passport, to verify your identity.

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To avoid a cycle service charge, you'll want to keep your daily balance above $500.00. This will prevent an $8.00 monthly charge from being imposed.

Receiving a $100 lender credit for originating a mortgage loan with Origin Bank is a great perk, but it's not directly related to maintaining a minimum balance.

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To open a simple checking account, you'll need to provide identification that meets the bank's requirements.

Typically, banks require a valid government-issued ID, such as a driver's license or passport.

You may also need to provide proof of your Social Security number, which can be done with a Social Security card or a W-2 form.

Some banks may require additional identification, such as a utility bill or bank statement, to verify your address.

In most cases, banks will not accept expired or photocopies of identification documents.

Be sure to check with your bank beforehand to confirm their specific identification requirements.

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