Blog

Everyone manages their money differently, and as such, there are different types of checking accounts to meet your own lifestyle and preferences. While each comes with their own unique benefits, it’s crucial that you identify what kind of checking account is right for you and one which aligns with your habits and regular spending.

What to Consider When Selecting a Checking Account

There are quite a few factors to think about when selecting the type of checking account that’s right for you. To start, consider the basics, such as what kind of fees will apply (if any), easy access to ATM machines and mobile banking options, and security features.

Once you’re comfortable with checking account essentials, look into the different perks that each account offers. Some checking accounts will offer dividends on your money, while others will offer incentives such as rewards points for making specific purchases.

While each checking account may not contain all the exact features you’d prefer, there’s sure to be one that will cover most of your preferences. Be sure to weigh some features higher than others when listing out the pros and cons of each. For example, security features should carry more importance than earning rewards points.

Checking Accounts with American Heritage

All American Heritage checking accounts come with some basic features to help protect and best serve our members. With our six different checking accounts, you can expect to have these basic features as a part of each:

• Access to Online Teller and Bill Payer
• Direct Deposit
• A free Independence Debit Card that can earn ScoreCard© Reward Points – With every $2 spent, you earn 1 ScoreCard© Reward Point that you can use on travel rewards, name brand merchandise, gift cards, and much more!
• No per-check charges

Additionally, we’ll automatically donate $0.01 via our Penny a Purchase program for all of your debit card purchases. This donation goes towards the Kids-N-Hope Foundation, which helps raise funds to support music therapy and other pediatric health services.

Explore the options below to find which checking account is right for you and your family:

Totally-Free Checking¹

Totally-Free checking is just as it sounds – there is no minimum balance requirement and no monthly maintenance fee. This account is perfect for you if you are seeking a first checking account and minimal oversight over your exact balance. Totally-Free Checking is also a great option as a youth checking account for young adults starting their financial journey.

With Totally-Free Checking, you can expect:

• Free mobile deposit^{2 3}
• Ability to earn dividends when you maintain a balance of $1,000 or more

VIP Checking

For those who are seeking to earn dividends of a higher yield, VIP Checking is for you. While dividend earnings are more often associated with savings accounts, VIP Checking offers the convenience of a checking account in addition to building upon your earnings.

VIP Checking is best for those who will maintain a higher balance in their account. You’ll avoid a monthly service fee⁴ when your account has a balance of $5,000 or more. This checking account works best if you’re seeking to make larger purchases, as opposed to an everyday coffee or other routine purchase.

With VIP Checking, you can expect:

• Free mobile deposit^{2 3}
• Dividends when you maintain a balance of $5,000 or more

Platinum Checking

Platinum Checking is the next step above VIP Checking, offering the ability to yield higher dividends when you have a higher balance. You’ll need to have a balance of $7,500 or more to avoid a monthly service fee⁴.

Like VIP Checking, Platinum Checking is the best account option for those who know they will have a regular and high balance in their account. The convenience of an everyday checking account is still there, in addition to the opportunity to earn dividends on your balance.

With Platinum Checking, you can expect:

• Free mobile deposit^{2 3}
• Ability to earn dividends when you have a balance of $7,500 or more

Identity Protection Checking

For those who have security as their biggest concern, Identity Protection Checking is the checking account for you. You’ll be given peace of mind with protection against fraud and identity theft for a small fee of $3 a month. This account also monitors your Social Security number for added protection.

Other elements of Identity Protection Checking include support services and tools to prevent identity theft and access to MyIDMatters™, which contains news and tips to protect yourself and your accounts from fraud.

With Identity Protection Checking, you can expect:

• Card Patrol with Social Security Number Monitoring™
• Fraud assist toolbox
• Identity Theft Support Service
• MyIDMatters™
• Payment Card Protection

Legacy Club

Our Legacy Club checking account is tailored specifically for members age 60 and above. Members who are enrolled also must have direct deposit of a payroll, Social Security, or other recurring check. The Legacy Club also offers bonus rates on loans and certificates, allowing those enrolled to save for specific milestones and plan for retirement.

Legacy Club members can also learn about different savings products and ways to grow their wealth ahead of and during retirement with retirement professionals at American Heritage.

With Legacy Club checking, you can expect:

• Free check reorders
• Bonus rates on loans and certificates
• Access to consultations with retirement professionals at American Heritage
• Free payroll deduction

Cash Management Checking

If you maintain stocks, bonds, or other financial assets, Cash Management Checking is an ideal option for you. This account provides all the conveniences of a checking account, in addition to linking to a brokerage account. Cash Management Checking also allows you to earn dividends on the investment funds in your American Heritage account.

With Cash Management Checking, you can expect:

• To earn dividends on your investment funds when you maintain a balance of $7,500 or more
• Connect to your brokerage account for management of stocks, bonds, and other financial assets

We’re proud to have the checking solution that’s right for you, regardless of where you are in life. To learn more about our checking account options and to open an account, click here.

_{1. Overdraft or returned item fees may apply.}

_{2. Internet service provider fees and 3rd party fees for message and data rates may apply.}

_{3. The eDeposit application is available to qualified members only.}

_{4. There is a $10 monthly fee when your account falls below the minimum required balance.}