How do you open a checking account?


Quick Answer

A person can open a checking account by choosing a bank, meeting a bank representative, giving the necessary information and agreeing to the conditions of the account, according to About.com. It's important to ask a bank official about fee structures and minimum deposits before starting an account.

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How do you open a checking account?
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Full Answer

Many banks and credit unions offer free checking accounts, notes About.com. Searching the Internet and researching different institutions is the first step. Small banks offer lucrative incentives to compete with large banks.

Some banks allow users to open a checking account online, but a person would otherwise have to visit a local branch to start the process, explains About.com. First-time customers must bring identification to open a checking account, and a deposit may be required to finish the transaction. There are a variety of options, such as savings, checking and bond accounts. Ask to open a checking account, and choose the best plan available. For instance, those on a budget need to choose an account that does not require large deposits. Consult with the bank representative to see which offer is the best option. Potential applicants may be subject to a credit check before the application is approved, reports Bankrate.

After choosing the account, provide all required information on the application, explains About.com. Read all of the terms of the bank, and agree to the conditions by signing the document.

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