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Thread: Checking account amount?

  1. #11
    Senior Member iris lilies's Avatar
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    Quote Originally Posted by bae View Post
    Yes, interest rates are so low now that it's not really worth the bother of special-casing it.
    Yes, that’s what I would do as well if I were managing our household money and checking account.

  2. #12
    Senior Member Tradd's Avatar
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    I'm a heavy user of my debit card, so I don't want a lot of $$ in my checking account, just in case something happened. I really keep no more than $700-800 in there, most times. My money is in two savings accounts, tied to checking, at same bank, so I can easily transfer if needed.

  3. #13
    Senior Member iris lilies's Avatar
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    Quote Originally Posted by Tradd View Post
    I'm a heavy user of my debit card, so I don't want a lot of $$ in my checking account, just in case something happened. I really keep no more than $700-800 in there, most times. My money is in two savings accounts, tied to checking, at same bank, so I can easily transfer if needed.
    Well, there is that consideration.

    For us old fogies
    who don’t debit card, it’s less of a risk.

  4. #14
    Senior Member Teacher Terry's Avatar
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    This old doggie debits. I don’t use them online though.

  5. #15
    Senior Member Tradd's Avatar
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    It doesn't even have to be used online. The bank's system could be hacked or your number stolen. Remember the Target debacle when someone hacked into their system a few years ago?

  6. #16
    Simpleton Alan's Avatar
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    I debit all daily purchases, use credit card for gasoline and Amazon purchases and checks for monthly bills such as utilities. Other than a $100 bill stashed in my wallet in case of a power outage or some other calamity I've been cash free for several years.
    "Things should be made as simple as possible, but not one bit simpler." ~ Albert Einstein

  7. #17
    Senior Member iris lilies's Avatar
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    Quote Originally Posted by Tradd View Post
    It doesn't even have to be used online. The bank's system could be hacked or your number stolen. Remember the Target debacle when someone hacked into their system a few years ago?
    But that is true with any account.

    Debit Carding, last time I checked, has limited protections.

    It certainly the security aspect is a problem of big balances.

  8. #18
    Senior Member Simplemind's Avatar
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    Usually no more than a couple of thousand. I have my pension and SS auto deposited so every couple of months I go in and transfer the excess to savings. I used to take my SS and invest it but lately I've felt better keeping it in savings. I'm down about 3% in my investments and they are moving things around.

  9. #19
    Senior Member razz's Avatar
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    I try to keep $3000 for all my ongoing expenses. I pay household bills online and credit card for everything else plus occasional cash purchases. I only ever use my debit card to withdraw cash when needed.
    Funny how different we all are.
    As Cicero said, “Gratitude is not only the greatest of virtues, but the parent of all the others.”

  10. #20
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    I guess we haven't been spending as much lately as the checking account keeps growing. I realized that the bank savings account interest is a tiny fraction of my Ally account so have been shifting it there even if Ally only earns $100 a month in interest at present. Better than $11 earned at bank savings. I don't think I've written a check in months. Mostly debit and Visa card paid off each month.

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