Virtually everyone, from teenagers on up, can benefit from opening a checking account, but it can be hard to find the right checking account.
Brittani Forbush with Mountain America Credit Union joined us to help us understand the benefits of having a bank account.
Brittani shared with us why a bank account is a great way to not only manage your money electronically but the four ways it can benefit you:
1. Establish your financial path - A deposit account can be a place for you to easily add and withdrawal your money. You will gain full control of your spending, better understand where you are spending and help establish healthy money habits. A deposit account will allow you to establish a budget.
2. Gain easy access to your money - Most employers prefer using direct deposit for their payroll. If you do not have a deposit account, you may get paid by prepaid cards or be charged for cashing your payroll check. You will also have access to online and mobile banking. Utilizing these features means you have convenient access to view your account activity and balances, deposit checks or transfer funds between accounts right from your phone or computer.
3. Enjoy accessibility and security. With a debit card, you get the convenience of a quick and secure way to make purchases. It is also safer than carrying cash since you can easily cancel a debit card, whereas with cash, if it is lost or stolen, you aren’t likely to get it back.
4. Increase your credit score – You may not think about having a deposit account as helping you increase your credit score. However, a big part of your credit score is positive payment history on your obligations. Most financial institutions allow you conveniently pay bills and set up automatic payments and transfers. This way you do not have to remember to do it each time they are due.
You can manage your everyday banking needs with Mountain America Credit Union’s MyStyle Checking which offers a huge variety of benefits and rewards.
For more information or to open a Mystyle Checking account go to: MyStyle Checking
