1. Banking 101

Bank Convenience

When you have money in the bank, you can access it from anywhere—in person at your local branch, from the ATM at your grocery store, online, across town, even overseas. A checking account also makes it much easier and cheaper to pay bills—you’ll no longer have to visit a store, check-cashing center, or service provider’s office to make payments, and you won’t need to purchase a cashier’s check or pay a transfer fee to send those payments.

Instead, you can use your bank’s free online bill-pay service or—if you prefer to do things the old-fashioned and less secure way—you can write a check and put it in the mail, which is also free except for the cost of postage. The benefits of using a bank to protect your money are similar to the benefits of using a credit union.

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