Top 7 Benefits of a Checking Account

Should you open a new spending account? Whether you currently have a checking account at a big bank or you primarily rely on cash, now is an ideal time to consider the benefits of an account with the flexibility to support your financial requirements. At Resource One Credit Union, we recognized the need for versatile and affordable solutions for everyone from the average consumer to the currently “unbanked.” We’re small enough to still care about providing a superior level of service to each member, while also large enough to deliver the robust support and service our clients expect from their bank. What sets us apart, and why should you select Resource One when you need an account that lets you receive and spend funds with ease?

1) Low Balance Requirements for Sensible Spending Accounts

Balance requirements are one of the main barriers to opening a spending account for many individuals. When you may need to put up hundreds of dollars at once to open and maintain an account, it often seems preferable to operate on a cash-only basis instead. At Resource One, we have several spending account solutions that come with no or very low starting balance requirements. Our basic Daily Spending Account, for example, comes with no monthly maintenance fee, no starting balance requirement, and no daily minimum. Even our Prime Spending Account requires only a $100 initial deposit. We’re committed to affordable financial solutions.

2) Swipe Your Debit Card at Thousands of Locations

When you open a spending account with us, we immediately issue you a Visa debit card linked to your account. Not only does this give you instant access to your funds, but you can also make purchases at tens of thousands of retailers nationwide. Any merchant that accepts Visa will accept your debit card. Simply swipe and pay — it’s that easy–no need to worry about counting out exact change or hoping that you remembered to bring enough cash for your purchase.

3) Avoid Fees at the ATM

Have you ever found yourself in a situation where you needed cash, but the only ATMs around charged a fee? You may think that’s the experience you’ll have banking with a credit union but think again. With our Direct and Prime spending accounts, our members enjoy ATM fee rebates of up to $5 per transaction. This service ensures you can use most ATMs, even third-party units, without worrying about losing money on the deal. We’ll reimburse you for the fees you spent accessing your money.

4) Enjoy Convenient Overdraft Protection

Sometimes your paycheck isn’t quite on time, or you have fewer funds in your account than you expect when you go to make a purchase. Should you have to face the potentially awkward conversation with a clerk when the bank declines your card transaction, or should you enjoy a seamless transaction? With overdraft protection, you can enjoy a privilege of between $500 and $1,000 for a nominal fee. Avoid declined transactions, complete your desired purchase, and replenish your funds when you aren’t at the point of sale.

5) Bank On the Go with Modern App Technology

If you worry that you may need to rely on overdraft protection more than necessary, mobile banking can put your mind at ease. With our intuitive smartphone app, checking your balance and making transfers from your other Resource One Credit Union accounts is quick and straightforward. Enjoy the same level of technological sophistication you’ll find at one of the big banks without sacrificing the superior service and lower fees we provide as a credit union.

6) Add Funds With Ease Via Mobile Deposit

Direct deposit is an excellent convenience, but you won’t always receive funds electronically. Do you dread making a trip to the bank just to deposit a check? Our app comes to the rescue again with advanced mobile check capture technology. A quick picture of your check uploaded to the app ensures that you enjoy access to your new funds as soon as possible.

7) Pay Bills Via Your Spending Accounts and Never Miss a Payment

Our spending accounts accomplish more than helping you buy groceries and luxuries — they can be your portal to paying your bills, too. With our online bill pay system, you can easily set up automatic transactions to debit your account at the appropriate time. Pay utility bills, store credit accounts, and many other outstanding charges with ease. With records centralized in your account, staying on top of your bills and avoiding missed payments is easier than ever.

Find More Flexible Spending Accounts With Resource One Credit Union

While “cash is king” may be true in some cases, it’s tough to beat the usefulness of a spending account. With a debit card that puts easy access to your funds in your wallet and opens up ATMs across the nation for your use, the convenience is real. With superb customer service and support from the Resource One team backing up your account, too, you can trust in a better banking experience.

Start the process of opening your new account with Resource One Credit Union online right now or stop by and see us at one of our branch locations. Don’t forget that when you open your account in person, we can issue your new debit card within minutes — and it’s ready for use as soon as you walk out the door. Need to know more before you take the next steps? Contact us today for helpful insight and advice.