Mary was just turning twenty-one and felt that she needed to open a checking account. Secretly, she always wanted to put money away however, Mary thought her parents would never give her enough money as her own. Now that she's graduated from college, Mary decided to visit the nearest bank and talk with a consultant about opening up a checking account that will satisfy her every need...

Checking accounts are offered by several banks including commercial, credit unions, and local. A checking account offers an individual not only safety but also convenience in making payments. This sort of account can be used to pay bills and helps you determine where and when your money is going. Here are a few reasons why you should open a checking account:

• It's easier to keep track of money. If you ever experienced the agony of losing money, then you'll appreciate a checking account for this reason alone. Once money is lost, the chances of recovering it are slim to none. However, if a check that's made out to you has been lost, then the actual money is still safe in the bank. This is if the check isn't endorsed. Endorsing a check simply means to sign the check before cashing it in, depositing it, or transferring it to another individual. An individual can stop payment on a check by letting the bank know not to honor it.
• Conveniently shop. Nowadays, it's easier than ever to withdraw funds from your checking account. Just use a debit card if your bank allows such privileges. This card makes it safer to lug around thousands of dollars yet you don't have to worry about stuffing it in a purse or wallet. You're also issued checks that can be used to make purchases also.
• Provides proof of payment. Each month or quarter, many banks issue a statement to all of their members. This statement is a summary of all transactions that took place during the preceding period. Checks come with a section where you can write down what checks were written. This helps out when there's a dispute whether payment was sent or not.
• Eliminates mailing out cash. There's not a soul, including the United States Post Office, who can say nailing out cash is safe. In these days of identity theft, fraudulent employees, and common thieves, cash can be stolen almost immediately. A check can't be cashed until it's endorsed by a person or company. Using a debit card helps to pay for goods and services without sending in money however, beware of companies and individuals who pounce on unlucky ones they copy information from.
• All money is insured against loss. Just as it is with savings accounts, the FDIC (Federal Deposit Insurance Corporation) will secure each checking account in an insured bank for a specified amount of money. Check with the bank's policies concerning this amount.

As you can see, opening a checking account not only protects the money you worked hard to get but also provide a convenient way for you to transfer funds to another individual, business, or account. In today's complex society, it can be difficult for anyone to handle financial affairs efficiently and effectively without the use of a checking account. Without a checking account, it's difficult to cash checks or save money. However, these accounts are the backbone of most people's budget plans.