Day: May 21, 2023

Checking accounts allow you to access and withdraw your funds. Unlike savings accounts, they don’t have a limit. Some checking accounts can also bear interest, granted that you keep to the minimum balance requirement.

However, there many types of checking accounts. If you plan to open a checking account, you may want to know where to put your money’s worth.

This article will explore what to consider in a checking account and the types available in banks and credit unions. By the time you have finished this article, we hope to have given you a clearer picture of your choice.

6 Factors to Consider When Choosing a Checking Account

Not all checking accounts are made equal. When opening a checking account, you must consider factors related to your situation and the account in question. For example, can you keep up with its minimum balance requirement? Do you pay taxes online? Your checking account must fit your lifestyle and finances.

Below are six factors you must consider before opening a type of checking account. 

CONVENIENCE AND ACCESSIBILITY

Your lifestyle must coincide with the features of your checking account.

Do you prefer to shop online or through physical stores? Do you prefer to make bill payments online or at physical locations?  If you’re in a place that doesn’t have a lot of branches or ATMs, consider their online platform. Are their mobile app and website easy to use?

AVERAGE MONTHLY BALANCE

Some checking accounts will charge a monthly maintenance fee if you don’t maintain a minimum balance requirement. Therefore, when choosing an account, check its minimum balance requirement against the average monthly balance you can maintain.

Setting up a direct deposit can help you avoid maintenance fees. When your paycheck automatically goes to your checking account, it can offset any reductions on your funds. 

CHECKING ACCOUNT FEES

Beyond monthly maintenance fees, some banks charge service fees such as in-branch transactions, ATM use, and overdrafts. By knowing the fees a checking account can have, you can avoid unnecessary penalties. However, as mentioned before, some banks will waive these if you maintain their balance requirement.

REWARDS

Check the rewards and benefits of the checking account. Do they offer refunds from big stores, cash back, or exclusive deals? When you check their balance requirements and charges, are the rewards worth the account for you?

CUSTOMER SERVICE

Do you prefer personalized service? Or do you prefer to be up-sold to better and higher products and services? If you prefer personalized service, consider opening a checking account with a credit union.

Credit unions are smaller and more familiar with their customers and financial situations. Since they are non-profit, they answer to members and not to shareholders. However, banks have better email, chat, and phone customer service technologies.

SCREEN THE ACCOUNT’S TERMS AND CONDITIONS

Reading the account’s terms and conditions before opening a checking account is reasonable. But, truthfully, not all of us have the time. If you’re opening an account online, you can use websites that will read the terms and conditions and summarize them for you.

Or you can install their extensions. Terms of Service Didn’t Read is currently the best website for it. TOSback also tracks updates on the terms and conditions of organizations.

The Types of Checking Accounts

Checking accounts from different banks and credit unions vary in features. Some may have higher interest rates. Others can have limitations due to the customer’s overdraft history. Others are designed for seniors and young adults. Below are the types of checking accounts in a bank or credit union near you. 

TRADITIONAL CHECKING ACCOUNT

Best for: people paying bills or doing online shopping and other debit transactions.

The traditional checking account is a great start for creating a reliable foundation for your money.

This type of account gives you checks you can write. They also give you a Debit or ATM card to deposit and withdraw money. Your card is also convenient for moneyless shopping. Furthermore, your traditional checking account allows you to pay your bills online.

You can also opt for overdraft protection if you make emergency purchases beyond your balance.

Some checking accounts give you dividends. But they may be little, although credit union checking accounts have higher interest rates than banks.

Some checking accounts come with a monthly maintenance fee. However, some banks and credit unions will waive this fee if you meet certain requirements, such as maintaining a minimum daily balance.

PREMIUM CHECKING ACCOUNT

Best for: People with a five-figure balance or more.

Premium checking accounts require a high minimum balance. In return, you avoid other fees and charges. You also get better perks, rewards, and freebies.

This type of checking account can earn slightly higher interest than the traditional one. However, if you aim to invest, other accounts, such as the money market and certificate of deposit, may be better for you.

STUDENT CHECKING ACCOUNT

Best for: Students aged 18-23

The student checking account is a great start for young adults to get their first bank account. It’s similar to a traditional checking account. But it is designed for a young adult’s needs and situations, such as having lesser fees and grace periods for overdrafts.

When getting a student checking account, read the conditions that will happen once you pass the age limit. Some banks would automatically switch it to the traditional bank account, where you will have increased fees or lose some of the benefits.

SENIOR CHECKING ACCOUNT

Best for: People aged 55 or 60 and older.

The senior checking account is for retired people or those living on a fixed income. The account has no monthly maintenance fees and has perks designed for seniors.

However, even if you fit the age requirement, keep in mind your financial goals. Other types of accounts may suit your needs, even if this one is marketed for your age.

INTEREST-BEARING ACCOUNT

Best for: People with a large maintaining balance.

An interest-bearing account gives small monthly returns. The interest can be flat regardless of your balance. The account can also pay more the higher your balance.

The interest-bearing account can be competitive with a savings account but without withdrawal limits. However, check if its fees cancel the interest significantly for you. If you cannot cover the charges, look for checking accounts that give monthly dividends instead.

BUSINESS CHECKING ACCOUNT

Best for: Business owners

The business checking account comes with business tools. The tools can include cash management services, online invoicing, and more.

This type of account can also offer freebies, such as writing several checks for free or getting a return base on your balance.

REWARDS CHECKING

Best for: People who often use debit cards.

A rewards checking account rewards you for your debit card transactions. Whether it’s part of your job or part of your lifestyle, your account rewards you with refunds, cash back, and discounts. Do consider the account’s required minimum, fees, and cap limitations.

PRIVATE BANK CHECKING

Best for: People looking for a private banker

A private bank checking account is managed by your private banker. A private banker helps only one customer with their banking needs. It is similar to a premium checking account but has higher rewards, such as lower loan rates and a free safe deposit box. It also has higher minimum balance requirements.

SECOND-CHANCE CHECKING

Best for: People denied of the traditional checking account

If a person has a history of closed checking accounts due to overdrafts, banks can refuse them from opening one again. The second-chance checking account is given to them instead.

This type of account can have monthly fees. However, if you can maintain your balance for a year or more, they can convert it to a traditional checking account.

FREE CHECKING ACCOUNTS

Best for: People who don’t want balance requirements and monthly maintenance fees.

A free checking account has no minimum balance requirement and no monthly maintenance fees. That said, they can have other fees. Some banks and credit unions offer free checking accounts with a return, like the Kasasa High-Dividend Cash Checking Account.

LOW-BALANCE CHECKING ACCOUNTS

Best for: People who can only maintain a low balance minimum requirement. 

A low-balance checking account is for people who need banking services but can only maintain a small balance requirement. This type of account can have limitations and requirements, such as only having only online transactions and preventing you from overdrafts.

Which Type of Checking Account is For You?

When choosing a checking account, you must consider your convenience and certain features. What minimum balance can you afford? Do you agree with the fees? Are the rewards something you have use of?

Beyond that, there are diverse accounts to cover each individual’s different needs. There are student accounts for young adults and even senior accounts for those who have retired. There are even accounts that allow you to invest. From the types of checking accounts above, which one suits your needs the most?

By now, you may already know what account you want. See our checking accounts to see if they suit you.

To learn more, please check out Canopy Credit Union

Indirect restorations are dental procedures in which custom-made crowns, fillings, as well as inlays/onlays are used in prosthodontics. They differ from direct restorations, like fillings which can be placed directly into cavities. Inlays and onlays for dental use are indirect restorations that are recommended in cases where a filling isn’t the answer. If a tooth is severely damaged, a filling won’t be enough to correct the problem. The dentist may recommend an inlay. Forest and Ray is an authority about inlays and onlays.

The main distinction between dental onlays, inlays and other indirect restorations like crowns is that they keep more of the tooth’s natural structure, including pulp and dentin. This process requires less drilling of healthy enamel, which could weaken over time. Inlays and onlays typically last longer due to the fact that they are made from solid materials such as porcelain or composite resin instead of amalgam.

Materials used in indirect restorations.

In the case of indirect restorations in dentistry different materials are utilized in dental labs. One of the most popular materials is porcelain, which is renowned for its strength and natural appearance. Inlays and onlays can be larger than fillings that cover a small part of the tooth. Inlays are designed to be affixed to the inside of a back tooth while an onlay is designed to cover the outer part of the chewing surface. Composite resin is a second material that is used to make dental inlays and onlays. It is becoming more sought-after due to the fact that it is able to match the color of natural teeth. This makes it ideal for visible teeth such as the those that are located in top of your mouth. However, composite resin can be less durable than materials like porcelain. It may need to be replaced faster as compared to other materials.

When is it appropriate to use inlays and onlays?

Onlays and dental inlays are recommended when a tooth has decay or damage that is too extensive for a filling however not so severe that it requires an actual dental crown. Dentists must consider a range of elements when deciding to use an inlay, onlay or filling crown to fix damaged teeth. This includes the amount of natural tooth left after the decayed areas are removed, and if there’s enough space in the mouth to accommodate either type of indirect restoration, as well as the patient’s preferences with regards to the materials (gold or porcelain,) as well as cost considerations and so on.

Inlays and onlays require two appointments as opposed to fillings that are inserted directly into the tooth at the same time. In the initial appointment, your dentist will take the 3D image of your teeth. Then, they will take them to a lab where the custom-designed restoration will be constructed from porcelain or gold. This impression will ensure that the inlay or onlay fits precisely. Following this procedure the next appointment will be scheduled to place the restoration in the dentist’s office.

What is the difference between inlays and onlays?

Inlays and onlays differ from other indirect restorations. They are used to repair decay or fill holes in the tooth structure, but they are not able to completely cover the tooth as a dental crown. These restorations can be made out of various materials including porcelain, composite resin, or even gold.

One benefit of using inlays and onlays is that a smaller amount of healthy tooth structure requires removal than in the case of placing a crown. They are also able to withstand the weight of large meals and provide lasting results. Overall, onlays and inlays can be used by dentists for fixing damaged teeth with little removal of healthy tissue and protecting against wear and tear from chewing. The restorations need to be precisely fitted and that’s why many dentists send impressions to an specialized dental lab for fabrication prior to placement within the patient’s mouth.

How to get Inlays and Onlays.

The process of getting inlays and onlays starts with the first visit to the dentist’s office. The tooth will be examined during this appointment to determine whether an inlay onlay is required. In generally, dental onlays are utilized when the damage to the tooth extends beyond just the biting surface but doesn’t extend to the entire surface of the tooth. However, dental inlays are typically utilized to treat tooth decay that hasn’t yet reached the point where it is necessary to get a complete bridge or crown. After it is determined that an onlay or an inlay is required to treat decayed teeth, the affected materials will be removed and the mold is made from your teeth. Your temporary filling is removed during your follow-up appointment, and replaced by either an onlay or inlay depending on what your dentist recommends.

Inlays and Onlays are a great way to improve the appearance and function of teeth that are damaged. They can also address problems such as bruxism, tooth fractures. In the end, temporary fillings or inlays may temporarily aid in fix damaged teeth. However, if want something that is permanent and natural-looking and provide long-term protection from the possibility of further fissures and decay, you should think about an onlay or inlay.

Advantages and disadvantages of inlays as well as onlays.

One of the advantages of inlays and onlays is that they are more durable over traditional dental fillings. If taken care of properly an inlay could last up to a year. This extends the life expectancy of the tooth. Another benefit of using inlays and onlays is that they give more fitting than a crown. An inlay is made to fit the particular tooth, and resin inlays are commonly used for premolars. Crowns, on the other hand will cover the entire tooth and requires a more intense removal. The material used to create onlays and inlays will differ according to the preferences of the patient and budget. Gold or porcelain are common materials used for both types of restorations. Inlays of gold tend to be more durable than porcelain inlays but aren’t as natural as porcelain ones.

The longevity and durability of an inlay or onlay is a significant benefit over other dental procedures, such as crowns and fillings. They also offer more comfort than crowns and are more gentle in preparing the tooth for restoration placement. A choice of porcelain or gold is a matter of personal choice. While gold lasts longer however, it looks more natural.

Maintenance Inlays and Onlays

Inlays and onlays need regular dental examinations to ensure their durability. They are able to last for many years if properly cared for but it’s important to ensure they are maintained. If they are exposed to extreme pressure or force Inlays and onlays are prone to scratch or break. Patients should be cautious about chewing on hard foods like ice or using their teeth as tools to break open packages. Regarding material selection ceramic or porcelain materials preferable to gold because of their aesthetic appeal. Inlays with porcelain offer advantages since they closely resemble natural teeth and do not stain easily. Onlays and inlays made of composite provide excellent aesthetics, as well as providing additional benefits. For example, they are less invasive than traditional fillings due to the fact that the tooth’s structure is not removed in the placement. The final decision on whether to use ceramic or porcelain and composite materials depends on the preferences and needs of every patient, as well as the location where the restoration is placed within the mouth.

Alternatives to onlays and inlays.

There are many options to onlays and inlays when it is about dental restorations. Direct fillings can be a viable option for small areas of decay. The dentist shapes composite resin directly onto the tooth, creating natural fillings. Crowns are an alternative to inlays and onlays. Similar to an onlay, a crown is a covering for the entire tooth but is constructed differently. Rather than being created outside of the mouth as an indirect restoration, crowns are created with CAD/CAM technology, or traditional impressions that are taken by your dentist. For those who are seeking cosmetic dentistry solutions that can help to restore the functionality of their teeth the veneers are an alternative worth exploring.

It’s important to consult with dental professionals about what type of restoration is best for your specific requirements. Knowing the distinction between inlays and onlays is just one part of this procedure! Keeping your dental hygiene in good shape at home is crucial for any type of restoration. By following the right steps you can secure your dental investment and enjoy a healthy, beautiful smile for many years.