Checking Account FAQs

Newton Federal is a great choice for your Checking Account for many reasons such as: 

  • Several Checking Account options including our signature free account, a free Kasasa  Cash account which pays you in ways that matter, free Kasasa Cash Back account, Senior Checking account, and more.
  • Checking Account deposit requirement is only $100 with no monthly service fee, no monthly minimum balance requirement, and free electronic services to manage your account. 
  • You can set up automated paycheck deposits that can go entirely to one account or be split between the two at whatever percentage you desire. 
  • Newton Federal Checking Accounts come with a free debit card, 5 checkbooks, online, mobile, and in-person banking.
  • A Checking Account is step one of financial planning and money management preparation and we offer accounts for children to help them learn these important skills as well. 
  • Newton Federal Checking Accounts are all FDIC insured which means your money is always Federally Protected. 
  • Our Checking Accounts help you build and improve your credit score by simple maintenance. 
  • Using your Newton Federal Checking Accounts provides proof of payment which can  save you in the event of a payment dispute just by using your associated debit cards or checks. 
  • We are a community bank and the money you invest with us is always reinvested in our local community. Just by banking with us, you’re helping us to support continued growth and commitment to the Newton County area. 
  • And more!

Yes, any money you invest with Newton Federal is federally insured by the FDIC. This basically means the federal government is protecting you against the loss of your deposits should anything with your institution fail.

One thing you should always require in a checking account, no matter who it is with, is that the institution be federally insured by the FDIC. Additionally, we suggest that you look for an institution that offers several checking options so you can compare them and identify the one that works best for you. Your checking account should offer little to no fees, a free debit card, free checkbooks upon opening, free and easy access to online and mobile banking, a physical branch where you can speak to a local team member, and a promise to reinvest your money back into the community in which you reside.

Your free debit card is a card we will issue to you that is directly linked to your checking account. It allows you to transfer money electronically to another business/account when making purchases. After making your purchases, you’ll see the funds come directly out of your account in real-time with no hassle.

Your debit card is slightly different than a credit card in a few ways. While they look very similar, a credit card charges purchases to a line of credit which requires you to pay the bill at a later date. 

Your checks work similarly to your debit card in that they remove the funds for your purchases directly from your checking account. Unlike a debit card, checks are not typically processed in real-time as they have to be physically deposited by a person or business institution. Once they’re deposited, the check will go through a processing time, and once the check clears your account, you will see that the funds have been removed. 

Newton Federal’s online and mobile banking offer you a digital, at-your-fingertips way of monitoring and managing your checking account. You can monitor your spending, deposit checks, move money between accounts, set up bill pay, and more through online and mobile banking. Of course, you’re always welcome to come by and see us in person, but this offers you the ability to bank when it’s convenient for you and keep an eye on your finances 100% of the time. Our online and mobile banking is very safe, but we do always suggest that you create a unique and difficult-to-guess password to protect your finances. As with any other form of online and mobile banking, if someone is able to guess your password or your phone/computer is not password protected and your account is open, you are leaving yourself susceptible to fraud.

Yes, we offer automated bill pay through your checking account. Paying bills is an annoying part of everyday life. Take the added stress off of yourself by setting up bill pay through your checking account so you don’t have to worry about late fees or shut off utilities ever again!

Direct deposit is the greatest thing since sliced bread. Did you know that in the not too distant past, your employer would provide you with a physical check that you had to physically take into your bank branch to have deposited into your checking account? Sounds exhausting, frustrating, and complicated, right? Well, no longer! We offer the ability to set up direct deposit with your employer so your paychecks go directly into your account which means that your funds are available immediately, no driving to the branch, no rushing to make it before closing, no waiting until Monday morning. This also means that you can set your direct deposit to split between two accounts which is a game-changer when it comes to saving money. For example, if your paycheck is $1200 every two weeks and you set 80% to deposit into your checking account and 20% to deposit into your savings account, in a year’s time, you will have saved over $6,000 without even thinking about it.

The funds in your checking account are available immediately.