How Do You Open a Bank Account?


Quick Answer

To open a bank account, choose a financial institution, and fill out the necessary application, as noted by the Wall Street Journal. Bank accounts offer several valuable tools such as online bill payment and investment management.

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How Do You Open a Bank Account?
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Full Answer

When enrolling for a bank account, you may be prompted to answer initial questions related to age, citizenship, account preference and current relationship, as listed on the official PNC website. After completing these initial screening questions, you are prompted to answer questions related to residency and employment. In addition, you must submit verification documents in order to be approved, as listed on the official Citigroup website. Examples of verification documents include a driver's license or copy of a utility bill with a current address. When applying online, you can upload electronic copies of these documents. Finally, if the bank requires a minimum deposit, you are required to fund this minimum deposit in order for the account to be activated.

Citigroup and PNC are two institutions that offer bank account services, as noted by the official website of each organization. These accounts are opened by visiting a local branch or enrolling online. There are certain requirements for each financial institution that determine how to manage the bank account. For instance, monthly fees, minimum balance requirements, number of transactions, online access and overdraft protection are all relevant factors, as listed by Forbes.

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