People have various ways to save and multiply their money. But even if you’re not a financial wiz, you have a fairly easy way to build funds close at hand: a checking account. These simple accounts are now more popular than ever. Keep reading to learn why checking accounts are an excellent place to keep and build your money.

1. Economic Expansion

Who doesn’t love an expanding economy? That means more growth and, often, more money in your paycheck. However, consumers are still unsure about how long the economy is going to stay a boom market. That’s why many are depositing their money in an account rather than running to the store to spend it. According to CEO Mike Moebs of Moebs Services, a financial research and consultancy firm, the average U.S. checking account deposit has increased from $1,000 in 2007 to $3,600 in 2016/2017.

2. Investment Reluctance

Despite Wall Street’s recently bumpy ride, the bubble is probably not ready to burst yet. But according to Gallup, despite those record highs, only about half of Americans are invested in it. Many of those whose paychecks are benefiting from the result of a growing economy want to keep their cash liquid, still nervous from the Great Recession.

3. Security Is Appealing

Those investment-shy consumers with fatter wallets are rushing to secure their funds in financial institutions, and interest-bearing checking accounts are a popular choice for storing money to meet the unexpected or to invest some day. Lenders welcome the influx, as the more money available (such as the money in your account), the more money they can approve for loans.

4. No Fees and High Yield

“No fee” is among many people’s favorite phrases in the English language. Plus, it’s another great consumer incentive for placing your money in a checking account. Many accounts are free to open (aside from the initial deposit) and charge no maintenance fees. Also, a growing number of accounts have a high-yield interest rate, especially at credit unions, which means you’ll earn more for simply keeping your money in a checking account.