There are still quite a few people who don't have a checking account, regardless of most of these being cheap or even free. A checking account gives you huge advantages. If you do not have one, it can end up costing you some serious cash.
One oversight that many have without a checking account, is check cashing. Many people take their weekly check and use a check cashing service. Many of these are quite a bit cheaper than they used to be, but even at $3 a check, that is $12 a month that could be saved if you get a banking account. This is a fee that you don't need to be paying, which helps you save money in the long run.
A second oversight that many have when not having these accounts, is that many jobs today have direct deposit options. This means that your employer wants you to provide your bank account number and your routing number to put your pay directly into your account on the day you are paid. With a checking account, you can do this and get your money the same day you are paid. With a check at times the money might not be posted until the next business day.
What to look for when getting a checking account.
Find a bank that is nearby. This makes it easier to use and visit when you might have any issues. It will be easier to go a close place to cash your checks if that is how you choose to bank.
Most banks have many different kinds of checking accounts. Be sure to get the free one. Do not get the accounts that charge you a monthly fee. At times free accounts a bit deceptive. If you have lower than a certain dollar amount, you get charged a certain fee per month. Avoid these.
Also, look for an account that gives you either free checks or a free debit card. This helps you not to have to carry around cash as often.
