 TITLE: What Is a Checking Account? CONTENT: Importance of Staying in Good Standing\n--------------------------------------\nA potential hitch to opening a new checking account is trouble over a past one. Your institution likely will run a ChexSystems report, which will reveal any old accounts you may have that are not in good standing. If you closed or abandoned an account with unpaid fees, for example, or failed to pay back an overdrawn account, the ChexSystems report will flag it, and you probably won't be able to open a new account until you make things right with the old one. This underscores the importance of avoiding overdrafts and paying all fees and penalties promptly if you do make a mistake. END