Looking to open a new checking account? Whether you need to change banks, or you’re just looking for a new account to better suit your payment needs, these are a few key factors you may want to consider:

1. Account Insurance

Make sure your financial institution provides insurance from either the Federal Deposit Insurance Corporation (FDIC) or National Credit Union Administration (NCUA). At Horizon Bank, accounts are insured for up to $250,000 per depositor.

2. Minimum balance requirements

If the account has a minimum balance requirement, make sure it’s an amount you can maintain, so you can avoid costly, low-balance fees.

3. Fees

Be sure you understand all other potential fees for your account — as well as any opt-in tools offered to help you avoid them.

4. ATM network

Do you frequently use cash? If so, you’ll need easy access to ATMs or bank branch locations. Make sure you have convenient options for withdrawing money, to avoid out-of-network ATM fees as much as possible. 

5. App features

Check to ensure that your account will offer plenty of convenient, app-based tools to make it easier to track and use your checking account. Watch for features like mobile check depositing, account alerts, and other features that are most important for your day-to-day needs.