What About Paper Checks?

Even with so much of our lives online, many of us still get a fair number of actual paper checks. It can often be difficult for online only banking customers to deposit these checks and get the cash they need. Even if you receive paper checks only on an occasional basis it is important to think about how those checks will be handled.

Some consumers will open a checking or savings account at a brick and mortar bank to handle the occasional checks, choosing an account with no minimum balance requirement and no monthly service fee. Others will mail the checks to the online bank and wait for them to be processed. Some banks, however, make it even easier for customers to deal with paper checks by providing a mechanism which allows checks to be scanned and submitted electronically.

Is there a limit to how many transfers you can do in a month? What about wire transfers and ACH transactions. Even if you see no need for this feature now it is important to know that it is available when and if you need it.