When it comes to your savings and building a cushion, safety is a big issue to consider. Consumers have many safe options to stash money in financial institutions that can reward you with free money, in the form of interest. These types of accounts are in the form of interest bearing checking or savings accounts. Some checking options may be called, regular or high interest checking accounts, and they all have different rates, fees, and features to fit a variety of needs.

Interest-bearing checking accounts allow account holders to access funds with checks and debit cards while still earning interest on the money. The accounts can be insured by the Federal Deposit Insurance Corp (FDIC). These accounts are extremely liquid and many come with the ability to write checks, transfer cash and make debit purchases. For many accounts, account holders are charged a fee if the balance drops below a certain minimum.

* Interest-bearing checking provides consumers with the opportunity to earn interest with low risk. These usually charge higher fees than a free checking account. Some accounts allow fees to be waived if the accountholder meets certain conditions. An example is, keeping a minimum balance or making so many debit card transactions in a month.

* Regular interest-bearing checking accounts typically pay interest below the rate of inflation. Money left in these accounts is at risk of losing significant purchasing power over time.

* High-interest checking accounts reward savers with an above-average rate of return. Some of these accounts have fees and requirements that may exceed your need to get all possible benefits. Be sure to review important terms and fee schedules of the account.

Banks, credit unions and other institutions offer several types of accounts to earn interest that may be a benefit to many people. For some types, the more you save, the more interest is earned and there may not be a balance requirement. However, the minimum deposit to open certain accounts can range from $10  to over $5,000. Monthly fees can vary from free to $5.00, and usually online bill pay can be free. There are features like images of cleared checks, Electronic statements, free check writing, and overdraft protection to name just a few. Benefits can vary among banks, so compare them before signing up for an account. Choose the features you will use the most.

People who have had problems financially may well want a fresh start by getting a checking account. There are numerous choices from banks that will give people an opportunity to reestablish a checking history. Some of these accounts can have common features like ATM access, low or no monthly fees, lots of regular benefits, and no minimum balance requirements. Most require the applicant to be at least 18 years old and possibly have a savings account in good standing. Another requirement may be that there is not a record of fraudulent activities or outstanding balances with other financial institutions. Apply online for a second chance bank account or download our free personal budget software to track expenses. Our expense tracking software functions just like an electronic checkbook register and is simple to use.

Some Banks Offer Checking Accounts with Added Benefits, such as:

* Low or few rates and fees

* MasterCard® or Visa Debit Card

* Overdraft Protection

* No 'per check' fees or minimum balance requirements

* Free Online Banking, Bill Pay and E-statements

* Access to ATM Withdrawals

* Free checks 

* Free 24/7 Telephone Transactions 

* Access to ATMs nationwide 

* No annual fees or monthly maintenance fees 

* Low opening deposits and no minimum balance requirements

* Access to accounts and ability to perform transactions at branch locations

Another benefit of having a checking account, is that it can help you obtain a personal loan. In fact, many lenders require a checking account in order to receive the loan.

Checking accounts can have safe and easy account access, this leaves more time to spend on other things. Using a checking account can make paying quarterly taxes or yearly taxes easier and quicker. Statements are great to use to track tax deductions, pay bills, and make purchases using a debit card. Checking benefits will vary among financial institutions, but it can be easy to compare the features and benefits of many banks online. Using statements with check images can be helpful to get a quick view of any checks that were written for medical bills or household expenses. Having the benefit of using online account functions and bill pay can help eliminate the time it takes to address and mail payments. Checking accounts are very basic tools that can help manage the family budget with a click of the mouse, 24 hours, 7 days a week.