Make Sure You Are Using The Right Checking Account
Many of us may open a checking account, but not take the time to reevaluate our options later to see if we are still getting the most from our bank or credit union.
MIDFLORIDA has multiple options for checking accounts, and many people assume right off the bat that Free Checking is the one and only product for them. However, things change. Your circumstances change. Your financial picture changes. What was right for you 10 years ago may not be your ideal product now. Here’s a snapshot of MIDFLORIDA’s checking products to see if you should consider a change.
Our Free Checking account is by far our most popular product. No surprise there. It’s a no-frills account with a low opening balance, but still offers our members the full service they want. It provides everything a person needs to do their banking without paying a dime.
Debit Card Banking
Teens, college students, or anyone looking to use their money without having to visit a branch – that’s who this account is designed for. The account is free and offers all the online services that one needs to do their banking while on the go. And because this member is usually tech-savvy and no longer uses a checking account in the traditional sense, DCB forgoes checks and paper statements.
Relationship Checking members receive the most benefits with their account, including dividends. It is our premium account and is intended for the engaged customer. By itself, the account has a $12 monthly fee; however, the fee is waived when you have an extended banking relationship with us. In a nutshell, you can simply keep a $1,500 balance or finance your auto or home with us, and you could get Relationship Checking and all its perks at no cost.
If you prefer to carry a higher balance in your checking account, then Investor Checking might be for you. It earns the highest interest rate and is designed for those who want to earn dividends, but also keep their cash accessible. The $6 monthly fee is waived as long as you maintain a $1,000 balance.
Freedom Banking is our second chance checking product. If you’ve had credit problems in the past, and have been unable to open a regular checking account, you may qualify for Freedom Banking. You won’t receive as many free services as some of our other accounts, but you will have access to the basic necessities, including a debit card, Online Banking and check cashing. Plus, the $2 monthly fee can be refunded if you are an active debit card user.
For more details on each of our checking accounts, go to our Checking Accounts page.