Checking accounts Bridgewater banks provide are offered to clients with their transactions in mind. There are four main types of checking accounts offered. Each pays attention to the client’s needs in terms of withdrawal amounts as well as transaction limits. These accounts include Excel Checking, iChecking, 1st Choice Checking, and N.O.W Checking. Each one of these accounts has its own benefits depending on the types of transactions one is looking to embark on.
An Excel Checking account is ideal if the client is looking to transact using electronic banking. The account also offers the client a high APY for a checking account. This in itself makes the account preferable for an individual looking to make it the primary transacting bank account. There are certain requirements that the client needs to meet before receiving a high interest rate for this account. Some of these requirements include receiving monthly e-Statements, regularly making debit card transactions, and a monthly online bill payment via the account. These restrictions are meant to ensure that the checking accounts in Bridgewater residents use remain active on a monthly basis. It is also required that one makes a direct deposit to this account on a monthly basis.
An iChecking account on the other hand is preferable for individuals who do not use a debit card on their account. Such individuals may want to earn an interest on their balance. The owner of such an account is also known to transact online via the account. However, for the client to earn interest on the account, they need to always have a minimum of two hundred and fifty dollars in the account. Checking accounts Bridgewater banks offer also require the user to have a receipt of eStatements on a monthly basis. However, it is important to note that there is no fee or penalty if these transactions are not met. The most that can happen is that the account will not receive any interest for that month.
1st choice checking account and N.O.W checking checking accounts Bridgewater banks offer are similar in many ways. Both can be opened by any individual who requires an account. Both do not attract any ATM withdrawal surcharges, and offer free online transactions. However, it is important to know that the 1st Choice Checking account is the most basic account at Bridgewater. It offers basic checking for free, no monthly fees, one can write any number of checks, and there is no requirement on a minimum balance. N.O.W on the other hand is for individuals looking to earn a dividend on their balance.
