A checking account is the most basic bank account that people can have. They are the type of account through a bank or credit union that is meant for easy access to funds. These accounts are used for paying bills and everyday transactions that are accessed by either a check or a debit card. Since people tend to keep the same primary bank account for several years, it’s important to understand the fees and conditions that go along with these accounts.

Below is a list of some of the common checking accounts and how to get the most out of these accounts:

1. Traditional checking account
A traditional checking account is the one that most people are familiar with. It’s the one that you get your check deposited into. Most of these will be available as online accounts that you access through a bank’s website or mobile app. There will usually be a fee for this kind of account that will depend on your monthly balance and they are used as everyday accounts for using cash. The best way to use this type of account is to manage your spending and making sure that you have some sort of overdraft protection.

2. Senior checking account
These accounts are aimed at customers that are typically 55 years old and older. Many of them come with perks that make them attractive to this age range. You can expect to have certain fees waived, free checks, and other useful advantages for seniors. Shopping around is the best way to get the most out of this type of account and just because it’s meant for seniors doesn’t mean it’s the best account for your financial needs. Simply look for the bank that gives bonuses that fit into your lifestyle, if you meet the age range.

3. Interest-bearing checking account
This type of account is what allows your money to work for you by earning interest. There may be specific requirements to earn a certain annual percentage yield (AYP), like having a minimum direct deposit or a certain amount of transactions. They are somewhat similar to a top-yielding savings account, but the amount of interest is typically lower. It’s important to understand how the interest is generated in order to maximize the benefits of this type of account. It’s best to sit down with your local banker so they can advise you on the appropriate account for your needs. Going in alone or making a sloppy guess isn’t advised here. The goal is to make as much money with your own money.

4. Rewards checking account
When you think of rewards, it’s typically associated with a credit card, but there’s checking accounts that can do this very thing as well. These types of accounts can be harder to find, but they can be worth the hassle. What these accounts do is offer a range of rewards like getting cashback every month, mileage points, and sometimes have an attractive APY attached to them. These accounts operate like a normal checking account in that you can use a debit card to access your cash for payments. It’s best to shop around for the best rewards that fit your lifestyle and attempt to max them out every month.

Checking accounts come in a variety of different options. It should be clear now that it’s not just the normal checking account. You can get a checking account that generates rewards, high interest, or just has some perks if you’re in retirement. What you shouldn’t do is let these types of deals pass you by. Go and pay a visit to your local bank and see what type of checking account is best for you.