Opening a New Checking Account
When you begin earning money, you should open a checking account to protect your money. If you start the right one, it can help you earn money as you deposit it. You can also pay bills and other expenses electronically from it. Here are the steps to open one for yourself.
Research Your Options
While you consider starting an account, research the options available to you. You can visit Aspiration Bank and other institutions that you are interested in. However, it may be more convenient to look these up online. You will want to compare how much you will need to deposit when you begin the account, if you will earn interest from the money that you put in or if you need to keep a minimum balance at all times. You might also want to take note of the savings options and other forms of financial benefits they offer. You might consider these later on in the future.
Items To Bring With You
There are multiple items you will need when you visit the bank for the first time. You will need a form of photo identification issued by the government. This can be either a driver’s license or a passport. You will need your initial deposit to put into the bank. If someone will be on the account with you, they will need to come along and have the same sort of paperwork with them also. You can verify everything you will need on the institution’s website.
Meeting the Banker
Once you arrive at the bank or credit union you want to work with, you will meet with one of the bankers. They will review your personal information then explain the options available to you. They may ask what you would like to do with your account, whether it is to save money or have easy access to it. Once they have it started, they will issue you a debit card and order checks for you if you want them. They will then assist you with making your first deposit.
Setting Up Electronic Payments
If you already have an account at a different bank that you are planning to close, look at your last month or two of charges to see if any of them were automatically deducted. If there were payments withdrawn from it, you will want to use the internet to log on to those accounts and change the payment information to your new bank. If these bills are taken care of offline, you will need to contact the company to give them your checking account number. If this is your first checking account, you can research any business you plan to work with to see if you can pay them online with either the number on your bank card or on your checks. Be sure to give them both the routing and your checking account number. If you are unsure what these are, you can contact your banker to have them show you what they are.