Opening a checking account is one of the most basic things you can do regarding your finances. Once you do your research it becomes simply trying to find an appropriate account for you! Be sure to check out some of our checking account offers at BankCheckingSavings!
Knowing how to open a checking account is extremely important so be sure to keep reading below!
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How to Open a Checking Account
Generally there are a three places you can open a checking account:
- Physical bank
- Online bank
- Credit union
All you need to do is go to open your account complete all the requirements which are generally easy and that’s it!
- Have Correct Documents:
- Driver’s license/other form of identification
- Social Security card
- Proof of address (lease or utility bill)
- Contact information (name, home address, email address, phone number)
- Opening Deposit
- Most banks require a low minimum opening deposit
- Complete the Application
- You can do this online or in-person
- Most financial institutions will run a credit check on you to see your past banking history and then approve or deny you for the account
All three of these places have their own positives and negatives so be sure to do your research carefully!
What You Need
Knowing what you need in an account is entirely up to you and your finances. Think of the reason you’re opening one in the first place compare those reasons to what is being offered.
Some reasons you may need an account:
- Deposit paychecks and/or cash
- Make daily purchases
- Pay bills
- Write checks
- Transfer money
You may also ask your self a few questions such as:
- Will I need to use my bank while traveling?
- Am I going to share this account with a partner?
- Do I need this account to earn interest?
- How often will I need physical banking services?
These questions can help determine which account can most benefit you as each a bank or credit union provides a variety of different features.
If you want more information on what types of checking accounts are available check out this post on how to find the best account for you!
Conclusion
Opening a checking account is easy once you have everything you need and decide on an account. Before you commit, make sure that you know everything that you’ll need to do so you can get started right away!
Hopefully after reading this you understand how to open a checking account! Be sure to do proper research and start saving today!
Additionally, If you are interested be sure to check out our list of bank bonuses and CD rates!
