Are checking accounts better?

[stella7]

What are the benefits of using a checking account instead of carrying money,money orders or checks?Are checking accounts cheaper?

[aquariancore]

You want a free checking account. Moneyorders by the end of the month are costly.

[deanac24]

Yes free checking accounts are the best. But be careful not to overdraw your account or you will be charged hefty fees.

[randomthoughts1875]

I'm not sure one is really better than the other. For me the convienence of having a checking account is great. I'm able to have my pay directly deposited, pay bills online and much more. I much prefer that to having to buy a money order every time I need to do something. That said checking accounts are a responsibility and if you're not willing to invest the time to balance your checkbook and write down every check used you can find yourself in the tough position of incurring overdraft fees. Most banks offer great free checking accounts and will be more than happy to teach you the basics! Hope this helps!

[LyricB]

I don't know what I would do without my checking account. I have all my bills automatically deducted and always use my debit card.

[mamab]

The biggest benefit I see is that I have a better way tot track where my money is going. Also, if I have cash in my pockets, I don't think twice about buying what I want, so having a checking account is sort of like a buffer for me. I have to decide if I really want to pull the checkbook out, write the check, hand them my driver's license, etc. Sometimes it's just too much bother for a couple bucks, so I don't spend it.

[Calypso]

There are a few benefits of having a checking account that I can think of:

1) Security. If thieves steal your cash or money orders you're out of luck (SOL, I believe, is the slightly less polite phrase). Your checking account, however, is protected against fraudulent charges.

2) Paying Bills. Most checking accounts give you the freedom of paying bills online, which works much better than the old stamp-and-mail method. Also some providers, like my landlord, won't accept anything but checks for rent payment.

3) Collecting money. If you do freelance online work and get paid through PayPal like I do, you can have the money in your PayPal account placed directly into your checking account at no extra charge. There IS a charge for requesting a money order.

Anyway, that's why I hang on to my checking account. Hope this helps!