Comments on: Back to Basics #3: Checking Accounts http://poorerthanyou.com/2007/04/02/back-to-basics-3-checking-accounts/ Talking about money, without being boring. Fri, 05 Dec 2008 00:48:00 +0000 http://wordpress.org/?v=2.6.5 By: pfodyssey http://poorerthanyou.com/2007/04/02/back-to-basics-3-checking-accounts/#comment-301 pfodyssey Thu, 05 Apr 2007 16:13:22 +0000 http://poorerthanyou.com/2007/04/02/back-to-basics-3-checking-accounts/#comment-301 Couldn't agree more. For overdraft, my bank uses a credit card to cover the balance. I like this because if I goof up and overdraft, I have some time to think about how to put it back (versus just having them pull from my savings account). Further, many institutions allow you to setup an ACH transfer link with another account (not neccessarily one from the same bank) so you can more easily move money back and forth. I definitely subscribe to the idea of keeping as little as possible in checking...it's only a means to facilitate payment...that's all. Paper checks? Only when absolutely neccessary. As I recall, ING didn't have paper checks standardly available? While I don't like to write them, I always want to have the option (ex: to pay for girl scout cookies and the like where it's not convenient to send an electronic check). That's a bit of a turnoff for me (not having if it I need it). Couldn’t agree more. For overdraft, my bank uses a credit card to cover the balance. I like this because if I goof up and overdraft, I have some time to think about how to put it back (versus just having them pull from my savings account). Further, many institutions allow you to setup an ACH transfer link with another account (not neccessarily one from the same bank) so you can more easily move money back and forth. I definitely subscribe to the idea of keeping as little as possible in checking…it’s only a means to facilitate payment…that’s all. Paper checks? Only when absolutely neccessary. As I recall, ING didn’t have paper checks standardly available? While I don’t like to write them, I always want to have the option (ex: to pay for girl scout cookies and the like where it’s not convenient to send an electronic check). That’s a bit of a turnoff for me (not having if it I need it).

]]> By: Stephanie http://poorerthanyou.com/2007/04/02/back-to-basics-3-checking-accounts/#comment-285 Stephanie Tue, 03 Apr 2007 17:33:11 +0000 http://poorerthanyou.com/2007/04/02/back-to-basics-3-checking-accounts/#comment-285 <b>Acidspit and Carla,</b> Thanks for letting me know about the debit card - I'll update the post to reflect that. I'm really glad I was wrong, because it makes the account even more appealing! Someday I'll have enough money to warrant getting one ;) <b>New2TheRatRace,</b> That's pretty smart - most people have their paychecks go to their checking and then move a certain amount to savings - but the other way around seems better to me! Acidspit and Carla,
Thanks for letting me know about the debit card - I’ll update the post to reflect that. I’m really glad I was wrong, because it makes the account even more appealing! Someday I’ll have enough money to warrant getting one ;)

New2TheRatRace,
That’s pretty smart - most people have their paychecks go to their checking and then move a certain amount to savings - but the other way around seems better to me!

]]> By: New2TheRatRace http://poorerthanyou.com/2007/04/02/back-to-basics-3-checking-accounts/#comment-284 New2TheRatRace Tue, 03 Apr 2007 16:50:59 +0000 http://poorerthanyou.com/2007/04/02/back-to-basics-3-checking-accounts/#comment-284 I couldn't agree more. I hate to just let money sit there. I have my direct deposit paychecks mostly going towards my 5% savings and only the amount I am going to spend until my next paycheck, into my checking. Makes it easier to budget too. I couldn’t agree more. I hate to just let money sit there. I have my direct deposit paychecks mostly going towards my 5% savings and only the amount I am going to spend until my next paycheck, into my checking. Makes it easier to budget too.

]]> By: Carla http://poorerthanyou.com/2007/04/02/back-to-basics-3-checking-accounts/#comment-283 Carla Tue, 03 Apr 2007 13:44:43 +0000 http://poorerthanyou.com/2007/04/02/back-to-basics-3-checking-accounts/#comment-283 I also have an ING checking account and a debit card. ING will also send paperchecks to people, such as your landlord, if need be. However, I haven't tried this feature yet, so I cannot vouch for it. I also have an ING checking account and a debit card. ING will also send paperchecks to people, such as your landlord, if need be. However, I haven’t tried this feature yet, so I cannot vouch for it.

]]> By: acidspit http://poorerthanyou.com/2007/04/02/back-to-basics-3-checking-accounts/#comment-278 acidspit Tue, 03 Apr 2007 06:00:35 +0000 http://poorerthanyou.com/2007/04/02/back-to-basics-3-checking-accounts/#comment-278 Yup. Just got the PIN for it too and activated it just now. Good stuff! I don't think it reimburses for all ATM withdrawals though, which I think is really crummy. You can do a search on nearby "free" ATM machine. I have to read through all their small print again. Yup. Just got the PIN for it too and activated it just now. Good stuff! I don’t think it reimburses for all ATM withdrawals though, which I think is really crummy. You can do a search on nearby “free” ATM machine. I have to read through all their small print again.

]]> By: Stephanie http://poorerthanyou.com/2007/04/02/back-to-basics-3-checking-accounts/#comment-276 Stephanie Tue, 03 Apr 2007 02:15:18 +0000 http://poorerthanyou.com/2007/04/02/back-to-basics-3-checking-accounts/#comment-276 <b>Acidspit,</b> Really? Hmm, I'd only heard the opposite up till now. Seems to might be even more appealing than I thought! Acidspit,
Really? Hmm, I’d only heard the opposite up till now. Seems to might be even more appealing than I thought!

]]> By: acidspit http://poorerthanyou.com/2007/04/02/back-to-basics-3-checking-accounts/#comment-273 acidspit Mon, 02 Apr 2007 21:19:47 +0000 http://poorerthanyou.com/2007/04/02/back-to-basics-3-checking-accounts/#comment-273 You know, I just opened an ING electric orange account and I received a debit card... You know, I just opened an ING electric orange account and I received a debit card…

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