A checking account is money kept in a bank that can be taken out using a check or ATM card. Then you can write a check or ATM card to pay for something. To start your account, you will need at least 2 forms of identification to open up a checking account. It should have your name, address, picture and signature.

Shopping for Checking Accounts

Before you choose a bank, learn more about the different offers at the banks in your area. You should find some differences. A bank will usually charge different fees for their services and you need to compare the different services to choose the right bank. These could include check fees, service charges, ATM charges, and a charge for withdrawing money. Other banks might provide the same services for free.

Minimum Deposit: The minimum amount of money can be different for a checking account at each bank. This might vary from $5 to $50 or more. Banks will charge a fee if your balance is below the minimum.

Account Fees: Most banks charge fees on checking accounts. A fee is a cost that you must pay for a service. A bank may also charge a monthly or yearly fee just to keep your account open.

Usage Fees: Some banks charge a fee of $.10 to $.25 for each check you write. Another common bank charge is a fee each time customers use an ATM or the assistance of a bank teller.

Availability: A bank should be easy to visit and be available in areas you constantly visit. Find out how long they are open every day. Some are open in the evenings or weekends. The more the bank is open, the easier it will be for you to put money in or take money out.

Student Accounts: Some banks have programs for high school or college students. These programs are usually less expensive, have a smaller minimum deposit or might be free of charge until you graduate. You should ask if the bank offers such a service or something similar.

How to Deposit Money into your Account

Every time you put money in the bank, you will fill out a deposit slip or an ATM deposit envelope. For both you will need to sign and write your account number on the check. That is just one reason why it would be good to know how to “read” a check.