Opening your first bank account can be a huge step in your future as a bright, successful and independent human being.You might think that opening your first bank account might be easy, and it is.But, there are a few things to consider, and that’s why you need to know tips for opening your first bank account.
Know your account types – When you go to open your first bank account, know your account types.Whatever you decide on, ask questions and learn the benefits and disadvantages of both types of accounts.
Learn to maintain your account – Some banks have policies concerning deposits,You may not have direct access to funds for a few days until the deposit clears.Many banks also have a “minimum balance” requirement.If your balance falls below that requirement, you may be charged a fee or be denied access to your account via ATM or card usage.
Ask about fees – Some banks will have fees they don’t tell you about up front.Some fees to watch for are ATM fees, checking fees, overdraft fees, minimum balance requirement fees, minimum usage or activity fees, and monthly or annual fees for the account.
Don’t settle – Go around, and gather information from a few different banks. Also, consider checking out a bank that a relative or friend has been using for a while. Chances are, the bank will give you some extra benefits if a long-time customer has referred you.
Check for online banking – One of the handiest tools these days is online banking. Most banks will offer it, but there may be a few who don’t. Make sure you ask right up front about this tool. Online banking offers tons of benefits, including online bill pay and options to transfer money from other accounts.
Consider the benefits – This is an important tip for opening your first bank account. Be sure to ask about the benefits a bank has to offer. Some banks will have free checking or savings accounts, no ATM fees, fee debit cards, free checks, and paperless billing among other things.
