What is a checking account?

A checking account puts everyday money within easy reach. You can use it to receive paychecks, pay bills, make purchases, withdraw cash and transfer funds.

Understand what a checking account is

A checking account is a type of bank account designed for everyday use that allows you to deposit, withdraw and transfer money easily and frequently. It is also called a demand deposit account because funds are available “on demand.” Features vary by bank, but many checking accounts include:

• Everyday access: Use a debit card, withdraw cash at ATMs, send money electronically and write checks when needed.
• Direct deposit: Have your paycheck or other eligible payments deposited into your account for quick access.
• Online and mobile banking: Check your balance, review transactions and transfer money through a website or mobile app.
• Bill and money management: Schedule one-time or recurring bill payments and move available funds between accounts.
• Joint access: Add a co-owner to a joint account to help manage shared expenses.
• Secure storage: Keep cash, paychecks and other payments in a bank account instead of holding them as cash.
• FDIC protection: At an FDIC-insured bank, eligible deposits are insured up to $250,000 per depositor, per insured bank, for each ownership category.
• Overdraft protection: If your balance falls below zero, some banks can transfer available funds from a linked savings, checking or credit account to cover the transaction and help you avoid an overdraft fee.

Learn how checking accounts work

A checking account gives you a central place to manage money coming in and going out. Add funds through direct deposit, mobile check deposit, cash deposits or transfers from another account. Then use that money in several ways:

• Debit card purchases
• ATM withdrawals
• Writing checks
• Online bill pay
• Electronic transfers, like Zelle® or Venmo

Most checking accounts include a debit card and support frequent deposits and withdrawals. Before choosing an account, check its limits on services such as daily ATM withdrawals and certain types of transfers.

Explore types of checking accounts

The right checking account depends on how you bank, the balance you expect to keep and the features you value most. Use this comparison to narrow your options:

Families exploring shared accounts can learn more about opening a joint checking account, and parents can explore youth banking options for younger account holders. If you’re a young adult or student, learn about checking account options built for you.

Know the common fees and how to avoid them

Checking account fees can add up, but many are avoidable. Start by checking the account’s monthly maintenance, overdraft and out-of-network ATM fees because amounts and fee rules vary by bank and account.

Here are common fees to watch for:

• Monthly maintenance fees: Recurring charges for keeping the account open.
• Overdraft fees: Charged when a transaction exceeds your balance and the bank covers the shortfall.
• ATM fees: Charges that may apply when you use an out-of-network ATM.

Checklist: how to get fees waived or avoid them

Some banks waive monthly maintenance fees when you meet account requirements. For example, setting up qualifying direct deposit or maintaining a required balance. Other habits, such as using in-network ATMs and monitoring your balance, can help you avoid transaction-based fees.

• Set up qualifying direct deposit
• Maintain the required minimum daily or monthly balance
• Use your bank’s ATM network
• Enroll in paperless statements
• Monitor your balance to prevent overdrafts

Compare checking accounts and savings accounts

Checking accounts are designed for everyday spending and transactions. Savings accounts are intended for storing and growing money over time.

Many people use both together: checking for daily expenses and savings for goals or emergencies. For a deeper side-by-side breakdown, see checking account vs. savings account.

Identify the routing number and account number on a check

Your routing number identifies your bank, and your account number identifies your individual account.

A routing number is a nine-digit code that identifies your bank or credit union. It’s used for electronic transactions like direct deposit and wire transfers. An account number is a unique set of digits assigned to your specific account, showing where funds should be sent or withdrawn.

On a personal check, you’ll find:

• The routing number: the first nine digits on the bottom left
• The account number: in the middle after the routing number
• The check number: on the right

U.S. Bank customers can find both numbers through online banking, the U.S. Bank Mobile App or their monthly statements.

Gather what you need to open a checking account

To open a checking account, you’ll typically need four pieces of information or documentation: a government-issued photo ID, your Social Security number (SSN) or Individual Taxpayer Identification Number (ITIN), your date of birth and proof of address.

Here’s the full list:

• A government-issued photo ID, such as a driver’s license, state ID, or passport
• Your SSN or ITIN
• Your date of birth
• Proof of address, such as a utility bill or lease

Some banks require an initial deposit to open an account. If you’re under 18, you’ll typically need a parent or guardian as a joint account holder and may need to provide a birth certificate. Depending on the bank, you may be able to open the account online or in person at a branch.

Open your checking account and get started

Opening a checking account takes five simple steps:

1. Choose a bank.
2. Pick the account type that fits your needs.
3. Gather your documents.
4. Submit your application.
5. Make your opening deposit, if required.

Before you decide, compare account features, fees and benefits across banks. U.S. Bank offers a range of checking accounts for different needs, including options for students, everyday banking and customers who want premium features.

Explore checking accounts and online comparison tools, including U.S. Bank Smartly® Checking for customers who want their checking and savings to work together.

If you have questions along the way, visit a branch, call customer support or use the U.S. Bank Mobile App for personalized help. If you have more than one account, this guide to managing multiple bank accounts can help you stay organized.