HomeMoney Management

Are All-in-one Checking and Investing Accounts Better Than Checking Accounts?

Are All-in-one Checking and Investing Accounts Better Than Checking Accounts?
Like Tweet Pin it Share Share Email

Are you disappointed with your lackluster checking account? It might be time for an upgrade.

Customers are essentially charged the privilege of using a checking account, despite the necessity of using one in today’s economy. Without a bank account, it is hard to function in the world. The disadvantage? Most conventional checking accounts don’t help you grow your money, leaving you unprotected from inflation. But what if you have a checking account that could do it all?  

Enter the checking and investing account; an account that offers the dual benefits of accessibility to your money, and growth potential. Ready to learn more? Read on to discover the top five reasons why an all-in-one checking and investing account  is better than a checking account: 

1. Investment Returns on your Deposits

If you receive interest on your savings account, how come you do not earn interest on your checking account? For years, this has been one of the disadvantages of putting too much money in your checking account. All your deposits turn into dead money that does not do anything except collect dust. 

Times are beginning to change. A growing number of online financial institutions are beginning to offer interest on your deposits in your checking account. Although the return rate is minimal, it is better than the zero interest you received for so long. An all-in-one checking and investing account offers investment returns on your balance

2. Invest Directly from Your Account 

By now, you are likely interested in investing in the global financial markets. Who wouldn’t after this wild ride of a year? From record highs to multi-year lows and back to all-time highs, it has been a rollercoaster ride that led to plenty of profits – and losses. 

An all-in-one checking and investing account can give you the opportunity to dip your toe into investing in exchange-traded funds (ETFs). An all-in-one checking and investing account will allow you to trade directly from your account without transferring funds or switching to a different service.

This is a great tool for anybody who wants to access their funds and still have the opportunity to grow their money.

3. No Monthly Maintenance Fee 

Wondering what the catch is on such a great money management option? Could it be a hefty maintenance fee? Nope! It really is as simple, and smart as it sounds!

Unlike some traditional checking accounts which may charge a monthly maintenance fee, you do not pay a monthly maintenance fee on an all-in-one checking and investing account. These kinds of accounts let you get started for free, with no minimum deposit or minimum balance required!  

4. More Features 

Believe it or not, an all-in-one checking and investing account have more features than your typical checking account at any of the big banks. 

With a standard checking account, you have a select number of transactions per month, a monthly fee, online banking, and money transfers to other clients. But an all-in-one checking and investing account offers way more perks than you may be accustomed to: 

  • No account minimums
  • No hidden fees
  • Integrated checking and investing 
  • Personalized investment recommendations   
  • Earn investment returns on your balance

5. Access to the Newest Financial Products 

If you do your research on checking and investing accounts, you will notice that most of the biggest banks in the United States today do not offer checking and investing accounts. Online banks or fintech institutions tend to be the first to offer innovative banking and financial products. 

One of the advantages of using a fintech-based bank is that you usually have access to the most leading-edge financial products and technologies, designed to make financial management more accessible and simplified than ever before. These online-based institutions pride themselves on offering affordable solutions to improve your money management, as well as a more personalized approach to customer service. Ready to see what you’ve been missing? 

Final Verdict

It is frustrating when you consider that you potentially missed years of investment returns by having a chunk of your capital lying dormant in your checking account. But there is no time better than the present to explore a better banking alternative to use and grow your money at the same time. With a checking investment account, your wallet – and your future retired self – will thank you.