5 Simple Strategies to Get the Most from Your Bank Account

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Your bank account sits at the center of your personal finances. The core of your finances is your checking account, where your primary income and expenses flow through each month. If you want to get the best from your bank account, as a small business owner or just as a regular consumer, follow these simple strategies for excellent results.

Monitor Your Accounts Regularly

Your bank accounts may have only a few transactions per month or dozens. Either way, you should keep up with your bank activity and check in regularly to look out for fraud or any surprises you didn’t see coming.

You can log into your bank directly, or use free tools like Mint or Personal Capital to check multiple accounts and get additional analysis in one place. As long as you are keeping tabs on your accounts, you don’t have to balance your checkbook. However, don’t skip out on looking in on your accounts. If you do, you could find yourself on the wrong side of a barrage of overdraft fees or worse.

Use Features Like Bill Pay and Remote or Direct Deposit

Your bank likely gives you free access to online bill payment, remote check deposits through your phone, and loads of other useful features. Some billers like utility and credit card companies even let you connect to your bank’s bill pay system for automatic payments each month.