Step 3: Start Using BLOC as a Money Account
start using BLOC
Deposit All Income
All income earned such as pay, cash awards, bonuses, and cash gifts should be deposited (or paid) into your BLOC.
Note: you do not need to close your existing checking account. It may continue to function as your "writing checks" account.
However, the amount in your checking account should be minimal -- just enough to cover checks being written and to avoid accidental overdrafts.
Check with your bank servicing your BLOC whether your employer can automatically deposit income payments into your BLOC.
If no, have your income deposited into your checking account. You will then use your online banking to transfer checking deposits to your home equity line account.