M&B Union Bank Savings Account

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Checking Account

A checking account, also known as a checking account in some regions, is a type of bank account that allows individuals and businesses to manage their day-to-day financial transactions. Here are some common features and benefits associated with checking accounts:

Deposits and withdrawals

checking accounts offer the flexibility to deposit and withdraw funds as needed. You can deposit money into your account through various channels, such as bank branches, ATMs, electronic transfers, or mobile banking. Similarly, you can make withdrawals through ATM withdrawals, checks, online transfers, or by visiting the bank.

Checkbook and debit card

checking accounts often provide you with a checkbook, allowing you to write checks for making payments to individuals or businesses. Additionally, you may receive a debit card linked to your account, enabling you to make purchases or withdraw cash from ATMs.

Overdraft facility

Many checking accounts come with an overdraft facility, which allows you to withdraw more money than you have in your account, up to a pre-approved limit. Overdrafts can be useful for managing short-term cash flow gaps, but they usually come with fees and interest charges.

Direct debits and standing orders

checking accounts often support direct debits and standing orders. Direct debits enable authorized organizations to withdraw funds from your account automatically, such as for bill payments or subscriptions. Standing orders allow you to set up regular payments to individuals or businesses.

Checking Account

Deposits and withdrawals

Checkbook and debit card

Overdraft facility

Direct debits and standing orders

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