Starting a Bank Account

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By opening a bank account, you can learn responsibility and money-managing skills. For those of you going off to college, it would be a good time to learn how to make good financial decisions and find a place such as a bank to keep your money safe.

Before you open an account, you need to figure out what you need out of an account. Are you looking for an easy way to access cash? Do you need a way to set money aside for longer-term savings goals? You should consider the availability of your banks, ATMs, and branches. If you go off to college, remember that not every local bank will have another branch at the college you will be attending. You may also want to consider some services that the different accounts offer, such as online banking and overdraft protection.

There are two types of accounts you can open, which are checking accounts and savings accounts. A checking account can be opened individually, and you’ll need your basic information, Social Security number, driver’s license, and a minimum opening deposit amount. The account can be linked to a debit card and can be managed online or through a mobile app, as well as at ATM’s. With a savings account, you will need to be prepared with the same basic information and an opening deposit amount. The amount you deposit can grow based on the interest rate, allowing you to save even more for future financial goals.

Once you’ve set up your accounts, you need to find a way to manage them. One way to keep tabs on the status of your accounts is with instant alerts sent right to your email or wireless device. By signing up for these notifications, you can be notified right away when a transaction takes place, allowing you to monitor your account activity wherever, whenever.

By: Breanna Ellerbrock

Short URL: http://voice.lp.noacsc.org/?p=14353

Posted by on Jun 3 2017. Filed under Front Page, News. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry

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