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happy young man smiles after keeping his account in good standing with financial education tips from gate city bank

Better Banking That Keeps Accounts in Good Standing

Whether it’s an account at your financial institution, your credit card or even paying your bills – it’s important to keep your accounts in good standing. But why? And what does “good standing” even mean? Fret not, we’ve got all these answers (and more) outlined just for you.

By Norm Clark – SVP of Fargo, Moorhead & West Fargo

In a nutshell, an account in good standing means that you’re adhering to some originally agreed-upon terms:

Making payments on time
Making at least the minimum payment on your balances
Not exceeding your credit card limits
Not withdrawing more than you have in your checking account

There are multiple tools you can use to help keep your accounts in great shape, including:

Online and Mobile Banking: Easily and quickly monitor your balances, view transactions and complete transfers.
Online Bill Pay: Ensure bills are paid on time.
Direct Deposit and Mobile Check Deposit: Securely get your money where you need it.
E-statements: Go paperless while easily knowing what you owe and when it’s due.

While it may seem daunting, mastering your finances by using the helpful tools available to you will help protect you from fees, boost your credit score and ensure that all your accounts stay in good standing!