Whether you’re a teenage or young adult looking to open their first account or an old-timer like myself who’s been through more bank accounts than we can keep track of, opening up a new account can always be a hassle. Choosing a bank isn’t easy, considering all the factors you have to take into account. No pun intended.
Especially as banks and credit unions continue to modernize with new features like online banking and a variety of mobile banking services, sometimes all you want is to just apply for a checking account. Thankfully, you don’t have to mess with all the extra stuff unless you want to, though I have to tell you, it can be damn convenient. If you take the time out to learn the full system, there are many things you can take advantage of; even the ability to cash checks from home by taking a picture of it! Sounds suspect, but the technology is there.
Another thing to keep in mind before settling on a bank is the array of policies. From overdraft fees to operating hours and location, the bank you choose should be the one that’s right for you. Try to avoid excessive interest rates, unusual hours of operation and any other strange policies that might catch your eye upon a little bit of research. Always do your due diligence before making a final decision on your bank.
Regardless of your technological abilities or preferences, and any specific policies a given bank may have, when you want to apply for a checking account with a new bank, you’ll have to go there in person and bring in some documentation, or for the institutions who have it available, you may be apply to apply for a checking account online. Either way, most likely you’ll need two forms of ID. This could be two of several choices: a driver’s license, state ID, social security card, passport or birth certificate.
In addition to the documents needed to prove your identity, you’ll also need an official piece of mail to prove your address. This can be something like a utility or cable bill. You’ll also need a small amount of money to deposit. It differs from institution to institution but they usually require somewhere between $25 and $150.
It shouldn’t be much more difficult than that! From there, you can download any mobile apps your bank may offer, as well as set up useful tools like direct deposit and monthly autopay features. You’ll have to find out what your bank has available.
Do you have any questions or any other tips? Feel free to share them with us below in the comments, and happy banking!