Members of the creative community know how to make it work in any situation. But successfully handling your finances shouldn’t take extra effort.
Here are four things to look for in a checking account to ensure you can easily manage and access your funds, whether you’re on set, handling post-production, location scouting, or in the writers’ room.
Digital access
Creative professionals are always on the go, with each day bringing a new adventure. When you’re at work you need to be able to fuel up your vehicle, purchase supplies, and make sure your bills are paid without slowing down.
Digital banking is the key to accessing your funds when you need them—checking a balance, transferring money, or reviewing your transaction history all on your schedule. When establishing a new (or your first) checking account, be sure your bank offers free, secure, and dependable access to your accounts via website and mobile app so you can easily manage your finances no matter where the day takes you.
Out-of-network ATM access
Sometimes you just need to grab cash from the nearest ATM, but this can trigger fees, both from your bank and from the bank that owns the ATM.
Rather than worrying about whether or not a convenient ATM is in-network, look for a checking account that offers fee-free access to all ATMs, like First Entertainment’s Value Checking account. Some checking accounts even offer an additional perk—rebates on the fees the third party charged. Avoiding this type of fee is a great way to keep your day moving forward and your cash in hand.
Monthly account fee
Some banks may charge a monthly fee, also known as a maintenance fee, for their checking accounts. This monthly fee might seem like a subscription cost—something you’re paying in return for a service—but it can quickly eat away at your cashflow.
Luckily, there are banks that offer options for checking accounts with no monthly fee, usually when you take an action like signing up for eStatements or direct deposit. By selecting a fee-free account, you’ll keep those hard-earned dollars in your pocket where they belong.
Monthly balance requirement
Another thing that can chip away at your savings is a monthly balance requirement. Some accounts charge a fee if your account doesn’t carry a high enough balance—something that can particularly impact creative professionals with variable income.
If you know you won’t keep a large balance in your account, look for one that doesn’t have a monthly balance requirement, or has ways to have the requirement waived.
Picking the right account
Ultimately, picking the right account means finding the one that best meets your needs so you can focus on your craft rather than worrying about where you’re keeping your money. A great way to do this is to look at your average cash flow and account activity to determine what account features will benefit you the most. Then, you can compare account options to select the one that makes the most sense.
Ready to open a checking account that works for you? Contact First Entertainment, where accounts are tailor-made for creative professionals.
