savings account vs checking account

[bkbkbk]

So I don't have a checking account anymore. I also got reported to chexsystems, so I would have a hard time opening up a new checking account until I file bk and have it discharged.

Are there benefits to checking accounts over savings account other than being able to write checks and use a debit card? Can I still get cashier's checks from the bank, wire money, and pay bills online? I tried calling the bank to ask, but my phone service has been limited.

I have savings accounts at WaMu (checking account there closed, but no other accounts), Etrade, ING, and Citi. They all have 0 or close to 0 balances.

[BK2008]

The problem with savings accounts is, they usually are limited to the amount of withdrawals that can be done in a month. Then they charge you a monthly fee, which was $3 a month when I was with WAMU.

You can get all of the stuff that a checking account provides, except checks and overdraft. Cashiers checks, debit cards, etc.

You might try to establish an internet checking account. Etrade has checking. I don't think they use Chexsys or Telecheck.

[Hopefull1983]

Regulation D prohibites more than 6 transfers or transactions on a savings account per month. Everytime you break this regulation they will charge you. They basically don't want you using a savings account like a checking account. This applies with all US banks.

[bkbkbk]

Ok, I guess I just need to be careful about number of withdrawals.

I didn't know you could get a debit card linked to a savings account. Actually, I just realized I have a card from Citi. It has credit-card-like #'s in front, but doesn't have a Visa/MC logo, though, so can I still use it in most places like a credit/debit card? It just has Cirrus and Maestro logos on the back.

I also have an Etrade debit card with a Visa logo... but I never activated it and it is years old. I will try activating it or have Etrade send me a new one... hopefully they don't go and check chexsystems and close my account. Is it possible for them to do that, and if so, would it be safe to have any funds in my Etrade checking account?

I was mistaken -- it's a checking account that I have with Etrade. The balance there has been 0 for a long time, but they haven't closed the account. What's the easiest way to deposit into an internet checking account?

[PoGirl]

If the card doesn't have the V/MC logo, it's most likely not a debit card and is probably an ATM card.

I do not think you can link a debit card to a savings account. I could be wrong, though, but I've never seen that offered at the banks I work with.

Usually the banks done' re-verify with CheckSystems if the account is established. To reopen an account, you can typically just make a deposit and the account will automatically reopen.

[reb512]

ETrade does use chex systems. I tried to open an account a few months ago and was denied due to those reasons.