Considerations for Choosing a Checking Account

First Commerce Credit Union

Sponsored - Many people view their checking account as a way to conduct simple transactions—make deposits, pay bills, withdraw funds—but the right checking account can be a powerful tool to help you enhance your financial well-being. Today’s financial marketplace offers a variety of checking accounts with different options and features.

How do you know which checking account is right for you?

At First Commerce Credit Union, we want to help you make an informed decision. Here are five considerations and questions to keep in mind when choosing a checking account.

1. Monthly Fees. Is there a monthly service/maintenance fee? Checking accounts, like other financial products, can charge a fee to access your money. If there is a small monthly fee, ask yourself: “What benefits do I receive for this service charge?” Consider a checking account that has a minimal fee or no fee at all. First Commerce offers multiple free account options for every stage of life.

2. Minimum Balance. Is there a minimum balance requirement? Some financial institutions may charge a monthly maintenance fee if you do not maintain a set minimum balance, or account features may be more limited if a balance is not maintained. Before opening an account, make sure you can meet any minimum balance requirements. Otherwise, it may be wiser to opt for a checking account that does not require a minimum balance to avoid fees or access certain benefits.

3. Automatic Savings. Does the account offer an automatic savings option? Some accounts offer the ability to set up automatic savings by rounding up purchases to the next whole dollar and transferring the difference to a savings account. Small savings add up over time! Learn more about our First Commerce EvenUp Savings Option.

4. Interest Earning. Can you earn interest on your checking account balance? While checking accounts aren’t commonly considered as a tool for earning interest, look for this feature in a checking account to provide the added benefit of helping your money grow. First Commerce offers iEarn! and iEarn!50+ checking that pays higher interest on everyday balances.

5. Overdraft Protection. Does the account offer overdraft protection? Your financial journey may not always be smooth, and the occasional bump in the road can result in overdrawing your account and ending up with overdraft fees. If you experience this on a regular basis, look for accounts that offer overdraft protection options to help you avoid or minimize fees. First Commerce’s Accelerate Account has built in overdraft protection, plus other powerful features.

Finally, consider opening a checking account with a local financial institution. This way, you will always have access to local service and familiar faces who understand your financial goals and can provide helpful guidance when you need it.

First Commerce offers checking accounts for every stage of life. You work hard for your money and it’s natural to want your money to work hard for you. Try our Account

Chooser at and find out how First Commerce can empower you to enhance your financial well-being.

That’s The Power of You!

Minimum opening deposit for SimpliFi and MyWay checking accounts is $25. For iEarn! Checking, the minimum opening deposit and average daily balance to receive benefits is $1,000. No minimum balance required. For iEarn!50+, minimum opening deposit and average daily balance to receive account benefits is $5,000. If average daily balance of $5,000 is not maintained for prior 3 months, account will be switched to an iEarn! Account. iEarn50+ members must be age 50 or older and MyWay members must be 18-29 years old. To receive benefits, average daily balance for iEarn and iEarn 50+ is $1,000. iEarn! and iEarn!50+ members must generate 10 or more debit card or check based transactions in their Checking account monthly in order to earn the higher tier of rates on money market account.