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For Your Life February 8, 2024

4 Must-Have Checking Features

Long gone are the days when a checking account was all about writing checks. It can (and should) be so much more! These four key features can help you maximize your checking experience—and make your checking account your day-to-day financial hub.

1. Digital Banking

A high-performing digital banking platform can make all the difference! Your bank should have a mobile app and an online banking experience that are intuitive and easy to use. They’ll give you access to your account 24/7, give you the ability to view funds and the option to transfer funds between accounts. But that’s just the beginning. The best checking accounts should also be able to take advantage of several key features:

Automatic Bill Pay. No more remembering to make a payment. Your checking account should give you the option to organize your finances and set it and forget it. You should also be able to make a one-off payment easily through your app. Add in a checking account with money management tools to help you budget and plan, and you’ll be checking like a pro.

Pay on Your Phone. An easy, safe and fun way to make payments. Set up Apple Pay, Google Pay or Samsung Pay to be connected to your checking account. Pay with a tap at the register, even if you don’t have your physical card handy. You can also pay quickly in-app or online.

Mobile Check Deposit. Let’s say someone actually does write you a check. You’ll no longer need to run out to your nearest branch to make a deposit. You can deposit it almost instantly on your phone, with funds typically available within a day or two.

If your bank doesn’t include these digital features, it’s worth considering finding one that does. The best checking accounts are simply that valuable.

2. Fraud Prevention

Did you know that digital banking also assists with fraud prevention? By being able to monitor your account 24/7, you’ll know quickly if something is wrong. Your bank should also offer the following:

Controls and Alerts. Usually found within digital banking, this allows you to decide what types of spending you allow on your card, or whether you’d like an alert if spending falls outside of certain guidelines. It’s an easy and safe way to monitor your account activity.

Fraud Monitoring. This service should be part of your checking account. If a suspicious transaction is identified, your bank should contact you to confirm that you want to make the transaction. At Old National, for example, we’re always keeping an eye out.

ID Theft Protection. At Old National, we work with Mastercard® to provide credit score monitoring and ID theft resolution services. It’s part of the package, though our clients do need to enroll to receive the services. Check with your bank to see if they offer something similar.

3. Peer-to-Peer Payments

This is a form of digital payment, but it’s so distinct that we thought it should have its own category. It’s often the simplest way to split bills, pay someone back, or cover your share of dinner—all without cash.

With most peer-to-peer payment (P2P) apps, once it’s set up by both parties, money is transferred to your recipient within minutes, if not sooner. If you haven’t tried it yet, we highly recommend it. At Old National, we offer Zelle®, a great way to send and receive money with friends and family!1 Once you have checking account with us, all you need to do to get started is enroll.

We do caution that P2P payments should only be used with people you know and trust. Much like cash, once the money is given to someone else, it’s gone. Fortunately, with friends and family, you can easily confirm you’re sending it to the right place.

4. Access to Cash

Speaking of cash, if you do need it, your checking account should make it easy for you to get. And, ideally, you should have a large number of surcharge-free options. For example, at Old National, not only do clients get surcharge-free withdraws at our ATMs, our clients also have surcharge-free access to more than 55,000 Allpoint® ATMs worldwide.2

In summary, your checking account should be your go-to when it comes to managing your daily expenses and moving money. Why not choose wisely, and opt for a checking account that has the features you need? At Old National, we have several options. We believe you deserve nothing but the best checking account—the one that’s right for you!

 

All rights reserved. Terms and conditions apply. Zelle® and the Zelle®-related marks are wholly owned by Early Warning Services, LLC and are used herein under license.
1. Zelle® is intended for sending money to family, friends, and people you are familiar with. We recommend that you not use Zelle® to send money to anyone you don't know.
2. No ATM Transaction Fees charged for Old National debit Mastercard® and ATM card transactions made at Old National Bank ATMs and Allpoint® ATMs. If you use an ATM from a different ATM operator, you may be charged a fee by the ATM operator and you may also be charged an ATM Transaction Fee by Old National. Access to Allpoint Network is not available for Home Equity Line Access cards.

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