You should make sure your record of the amount remaining in your account matches the bank s records. Savings accounts If you wish to save money, you may deposit money into a savings account that will earn interest. Funds may be transferred between checking and savings accounts therefore, it is often convenient to maintain both types of accounts in the same institution. Some institutions may have combination accounts offering checking with interest benefits. Most financial institutions charge for their services.
Service charges can vary between banks as well as between accounts.
Some institutions offer accounts with no charge for ATM usage. Other institutions charge nothing for ATM transactions at machines located at their facilities, but charge per transaction for those located elsewhere. Service charges, automatically deducted from your account each month, appear on your monthly statement. When opening your account, be sure to find out when your service charge will be deducted from your account, and when you will receive your monthly statement. If you have no locally established credit, the bank may ask for references or require a co-signer who would be responsible for repaying the loan if you do not.