Keys to Managing Your Newly Opened Checking Account

With a checking account, you have more freedom to pay for things and set up accounts for a lot of important services. After opening a new one, you want to do a couple of things from a management standpoint.

Check the Buying History Often

You may use your checking account to fund a lot of things, such as subscription services, gym memberships, and loyalty programs just to name a few. It's thus kind of easy to lose track of what you're using your checking account with.

You can still protect yourself by checking out your buying history often. You want to look at the charges and make sure they are things you actually paid for. Every now and then, you may get a charge that isn't legitimate. Being able to spot it quickly is very important for catching potential fraud and keeping your checking account more secure.

Be Careful about Taking Large Amounts Out

Some situations may develop where you need to take a lot of money out of your checking account. It may be to fund something large, such as a down payment on a home or perhaps a vehicle you're looking to purchase. Make sure you're careful when taking out these large amounts.

You should give your bank a warning so that they have time to prepare for it to go through. That will save you delays. Also make sure the destination is correct where this large amount is going. You wouldn't want to send over a lot of money from your checking account to the wrong person and then have to go through stressful steps of getting it back. 

Get to Know Your Routing and Checking Account Numbers

Once you open up a new checking account, it's a good idea to review your checking account number and routing number. You will need to know both in order to set up your checking account with different companies and services.

Both of these numbers will be on your actual checks. The routing number is the first sequence of numbers while the checking account number is the group of numbers that follow. Once you're able to make this distinction, using your checking account will be a lot easier.

Whether you've opened up your first checking account or another one, how you manage it moving forward is important. If you're smart and do the right things, this checking account will stay secure and help you financially. 


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