When you’re opening a personal checking account in Knoxville, there is multitude of options you should consider. Each of these different options would depend on your personal financial circumstances, and why you need the account. You should do some research and check to see what various banks are offering. It’s also a good idea to visit the banks that you are interested in to test the service that is offered. If you are made to feel welcome and are given personalized attention, this may be the type of institution with which you’d like to build a relationship.
The different types of personal checking accounts in Knoxville
You can open a non-interest bearing account that will offer you free services. In most cases, you will be required to have a minimum opening deposit, but you won’t be charged any bank fees. If you need to issue checks, you are then usually given a certain number free of charge, with the ability to order more through the institution or another supplier. ATM transactions may also not incur charges. You might also want to enquire as to whether you would be given overdraft protection limits.
If you wanted more services, they may incur a monthly fee. However, you could have many other features added to your account, such as insurance in the case of your death, as well as protection against identity theft. As with a non-fee option, you’d probably be granted various perks which may be beneficial such as unlimited checks and free ATM transactions. In some situations, you might also be provided with debit card use and telephone banking at no extra charge over the monthly fee.
Many banks offer discounts to senior citizens. Once again, as a senior, you could open an interest bearing account with a minimum deposit, but be charged no monthly fee. In addition, if you maintained a certain balance, you’d receive interest on a daily basis. Other perks could be the issuing of free bank checks and a discount on a safe deposit box.
As can be seen, different banks offer a range of different options and benefits if you want to open a personal checking account. Depending on your age and your banking needs, you’d be able to assess what account works best for you. If you access the website of a bank such as Foothills Bank & Trust, you’ll be able to learn about many of the different options on offer.