In this article, we discuss how to open online checking account with no deposit for those with bad credit, open online checking account free with no deposit. Here two important points on how to open online checking account with no deposit and no fee:

• You can easily save more than $100 a year as in fees by choosing a checking account with a low (or no) minimum balance requirement that you can meet.
• Banking institutions frequently drop checking fees if the pay checks are deposited directly. Offers of additional advantages of direct deposit are a convenience, security, and immediate access to money.

Questions to ask when you open online checking account:

• What is the minimum-balance requirement? How do the banks calculate it? Notice that the minimum-balance calculation that uses the lowest balance for the month for a figure of average balance per day.
• Whether the balance on other accounts include on the checking account minimum balance? What is the clearing policy for deposits? This is an important point if you have a NOW account. Almost all banks hold checks for 10-14 days that means you may have the chance to lose interest and may be attached to overdrafts.
• What about overdraft charge?

Get the best NOW bank account:

NOW accounts (interest-paying checking accounts) are legal in the U.S. Not all NOW Accounts are same. You can easily shop for one that fits you. Some of the key facts and the strengths of this account:

• No minimum to $1,000 at a savings and loan are the range of minimum balance required for NOW accounts
• The balance is computed: (1) Average monthly balance must greater than the minimum. (2) Daily balance should also be greater than the minimum. (3) In some institutions, they count money in other accounts toward to the minimum.

The penalties for going under the minimum:

• Range from zero interest paid for flat service charge and a fee for each check.
• Interest may be paid on the average balance per day or the lowest balance over a particular period.
• Interest can be synthesized either quarterly or per each day. To verify: Ask for the annual rate.
• One possibility: The one in upper tax brackets may choose forego taxable NOW accounts and arrange bank services for free and a less interest rate on loans. Here is the other way: Check the process of how NOW accounts heap up in given period in the position to money-market funds with check writing privileges.

Checking account tip: Postdating checks

Post-dated checks, often desire of delinquent installment plan debtors by finance companies or collection agencies, sometimes are deposited directly. The check may clear the bank because:

• Checks in batches are not to be date-scrutinized;
• The account contains sufficient funds when it is presented.

The after effect if a check bounces:

Writing a bad check can cost you several dollars as service charge at the bank, and writing many of them can damage your credit rating. In this, there are some misconceptions about the aspects of bad checks.

Is it illegal to write a check for which if there are inadequate funds? There is a proof of intent to defraud before officialdom prosecutes.

Will banks ever honor a bad check? It’s a supportive mentality among the banks that they honor a bad check occasionally for long-term customers those who they don’t want to miss or lose, or else they cover the difference and charge on interest and loan.

Can the check bounce even if there are proper funds in the account?

The chances for your checks to be bounced if the checks that are not clear yet at their banks might be in the state of deposited checks. Consider this sample situation: A check drawn on a California bank, may take as long as ten days to clear when it is deposited in a New York bank at the time of the drawing.

Who responsible for the loss?

This might be a question that every banking customer has to be aware of, and the answer is the person or company that accepted the check will be the responsible hands, it has to be noted clearly that the banks are not responsible, because they are just like any other agents provide services to customers.

This is how you open online checking account. Do you fair share of research how to open online checking account.