A checking account is basically a bank account which acts as the base for your transactions. In many places, it is referred to as a transactional account too. You can use this account to pay your bills and make your financial transactions really easy. However, to make the experience better, here are three money-related tips for optimizing a checking account that you can use:

Avoid the additional bank fees
Did you know the one transaction that you may be overlooking the most is actually your simple bank fees? There are plenty of additional bank fees that may be eating up your money parked in the checking account. Some fees to keep a tab on include the following:

• Monthly maintenance fees
• Minimum balance fees
• Overdraft fees
• ATM fees
• Paper statement fees

Keep a tab on all your transactions and don’t let your bank take you for a ride. Ask about all these fees in advance and ensure that you comply with the rules so no money is cut.

Go for consolidation if needed
Consolidation is not only for your credit card. In fact, you can simplify your finances by consolidating multiple checking accounts. Ironically, one of the tips for optimizing a checking account is not to have multiple checking accounts. With one account, you have the convenience of seeing where your money comes in and when it goes. For most people who are not tech-savvy and financially inclined, tracking money could get difficult as well as time-consuming.
In case you are managing multiple checking accounts, you would need to remember all the information for all these accounts and then keep a tab on the different balances as well. Additionally, there are extra maintenance fees for all. If you fail to comply with the rules, then you will inevitably end up paying extra charges for the additional accounts, which will end up taking away from your account balance.

Decide where your extra money goes
There is no denying that your checking account can be a great place to keep your money handy for your food, entertainment, grocery, transportation needs. But, when you have extra cash in hand and are planning for long term savings, then just a checking account does not cut it. You can look at moving your money into an account that gives you a much higher interest. One of the best ways to do this is to ask your checking bank account provider about the additional plans they have to offer. You can accordingly arrange for automatic transfers and save your money too. This is a great way to ensure that you are making the most out of your hard-earned money.

Remembering these tips will hold you in great stead even if you have more money than you do at present, as the basics of managing them tend to stay the same.