Standard Checking

• Standard checking accounts are bare-bones accounts. All banks offer standard checking, and the accounts typically come with low opening deposit requirements. With a standard checking account, customers often have to purchase checks up front. Most standard checking accounts come with monthly maintenance fees. However, the bank may waive the monthly fee if the customer has direct deposit, keeps a high average daily balance or makes a certain number of debit card purchases each month.
  
  

Interest Accruing

• An interest-accruing checking account pays a monthly interest rate on the customer's balance. However, these accounts typically come with a higher opening deposit requirement, and many banks require that the customer keep a large balance in his checking account to qualify for the interest rate. Some banks may charge a monthly fee if the customer's balance drops below the required minimum.
  
  

No-Fee Checking

• Some banks, especially credit unions, offer no-fee checking accounts. With a no-fee checking account, a customer can write an unlimited number of checks, make an unlimited number of debit card purchases and withdraw from the bank's automated teller machines (ATMs) without a fee. However, the bank may set requirements for this type of account. For example, the customer may need to have at least one direct deposit to the checking account each month.
  
  

Joint Account Holder

• In a joint checking account, two people are authorized to deposit and withdraw on the same checking account. Joint checking accounts can be any type of account, such as a standard or no-fee account. Typically, any two people can open a joint checking account, but married couples and parents and children are the most common owners.
  
  

Online Checking

• A few banks operate exclusively online. These banks offer different types of checking accounts, including basic checking and interest-accruing accounts that may have a higher interest rate than the one offered by brick-and-mortar banking institutions. An online bank offers checks, an ATM card or a debit card in most instances. However, without a local branch, the customer must mail in check deposits.