There are several ways to spend the money from your current account. This will help you know better how to avoid bounced cheques. According to financial experts, you’ve got several options:
Get cash: You can always withdraw cash from your current account for spending. You can do this with a bank teller, or at pretty much any ATM in the world.
Debit card: You can also make purchases with your debit card, which is a plastic card similar to a credit card. The money will come from your current account electronically, and you won’t have to deal with any change.
Pay bills online: Most banks include online bill payment with every current account. Instead of writing cheques, you can arrange payments online; you can even automate your payments so that they go out automatically.
Pay electronically: Instead of having your bank initiate payments, you can also provide your current account information to whoever you need to pay. They can then deduct funds from your account (as a one-time transaction, or a recurring payment).
Things to know about cheques
Use it daily but sparingly: Again, the idea is to only use a current account for money that you intend to spend in the near future. Everything else should go into your savings account or another account designed for longer-term goals.
Keep it funded: In order to actually use your current account, you’ll need to have money in it. If you write cheques or sign up for payments with insufficient funds, you can get into trouble and wind up paying extra fees. Make sure you know that money is available before you spend (you can figure that out if you balance your account).
Know your overdraft options: What happens if you try to spend more than you have in your account? It depends whether or not you have an overdraft plan with your bank. Know your bank’s overdraft policies carefully so you know how much it will cost if you go over.
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