If you’re a student don’t even think about paying for a checking account. Almost every bank has special student checking accounts that are free. If you’re a student and you don’t yet have a checking account I recommend taking the following 5 steps:
1) Take a look at the online student checking accounts. All of the major banks (wachovia, bank of america, etc) have free student checking accounts. Take a look at these first and compare their features. This shouldn’t take very much time to do.
2) Things to consider when comparing accounts is whether there’s a minimum balance requirement, if it has direct deposit capabilities, if there’s overdraft protection, and if the bank has online banking.
3) After comparing different accounts it’s time to apply. You’ll need an address, social security number, and if you’re banking online you’ll need to create a username and password. If you’re applying in person you’re going to need a form of ID to open an account.
4) If you’re switching accounts from an old bank you can either write yourself a check or give the old bank your new account and routing numbers to make a transfer. Many banks require a minimum deposit and the amounts will vary from bank to bank so find out if there is one and if so how much it is.
5) If you’re working make sure to setup direct deposit. Some accounts require direct deposit in order to avoid fees, find out if this applies to your account. If you haven’t had direct deposit in the past, it’s amazingly convenient and easy to setup.
Hi, I’ve been getting these email from you guys and I am wondering how can I get a checking account immediately. I really need one now and I am hoping you guys can help me.
Thank you,
Annette