Special Checking Accounts

Special Checking Accounts

Unlike regular checking accounts these are sometimes called “economy” or “budget” accounts. They require no minimum balance, but the depositor is charged either a fee for each check issued or a monthly maintenance fee, or, in sortie cases, both. This kind of account makes sense for someone who writes few checks or cannot conveniently maintain a minimum balance. Again, shopping around, reading contracts and asking questions can save you money. One bank may charge 20 cents per check and another only 10. But the bank that charges 10 cents may also impose a $1.50 service fee per month, while the bank that charges 20 cents per check may charge no service fee at all. And some banks levy a service fee but make no charge per check.