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There are two different storage account types available in Autodesk Account: classic and newer. Both provide the same resources to your application, but the newer type is created and managed differently.
Basic Checking Account
A basic checking account provides the ability to check your balance, pay bills and make purchases with a debit card. This type of account may come with monthly maintenance fees, but some banks will waive them if you maintain a certain minimum balance.
It may also offer perks and benefits, such as unlimited check-writing privileges or access to free online banking and mobile apps. You can usually set up direct deposit to have your paycheck deposited each pay period into your account.
There are many different types of accounts to choose from, so find one that fits your needs and your budget. These options can help you avoid ATM fees, earn interest, save for your children’s college tuition or get a fresh start on your financial life.
Interest-Bearing Checking Account
An interest-bearing checking account offers a way to earn some interest on your money, and it’s available from many banks. It combines key features from both savings and checking accounts, such as a debit card for purchases, checks for spending, automatic electronic payments and online bill payment.
However, you might need to meet some requirements in order to get the most out of it, such as a minimum balance requirement or monthly maintenance fees. These can negate the amount of interest you’re earning, so make sure to do your research before opening an account.
These accounts are typically available from community banks and credit unions. They tend to pay higher APYs than standard interest checking accounts. They also have a few advantages over certificates of deposit (CDs) and money market accounts, such as lower minimum balance requirements and no restrictions on withdrawals. They can also be more flexible for storing emergency funds or a long-term goal like college tuition.
Money Market Account
Money market accounts are a safe and low-risk way to save for short-term goals. They offer a competitive interest rate that’s often tied to the account balance, paying higher yields for larger balances.
Depending on the bank, you may be able to transfer money from your money market account to another savings or checking account up to six times a month. If you exceed the monthly transaction limit, banks and credit unions typically charge a fee.
These accounts can be a great way to grow your emergency fund or save for a major purchase, like a home or a vacation. However, they may not be right for everyone.
Student Checking Account
A student checking account is a safe place to stash cash while you’re in school. It’s also a great way to start learning budgeting, saving and spending skills, and it can help you avoid overspending or racking up debt.
The best student checking accounts offer free access to online banking and no monthly fees. Some even offer additional benefits like cashback debit rewards or bonus perks to encourage your use of the account.
In addition to these key perks, many student checking accounts offer overdraft protection. However, be sure to read the fine print.
If your account is not eligible for overdraft coverage, you may be charged a fee when your account goes into negative balance due to a transaction.
Be aware that some student checking accounts expire once you graduate or leave college. Be sure to notify your bank or credit union if you’ll be staying in school another semester or year so they can extend your student checking account’s benefits until graduation.