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To open a checking account or any other type of account, you'll also need the following: A government-issued photo ID like a driver's license, state-issued ID or passport. Some banks may require two IDs. A birth certificate, social security card or a credit card in your name could serve as the second ID.
Banks typically don't charge fees to open a checking account. However, if the bank requires a minimum deposit, you'll need that money when you open. To open an account, you have to buy a share in the credit union. While this might sound scary, the cost is usually between $5 and $25.
Average Checking Account Fees at Major Banks According to a recent MyBankTracker study, the average checking account fee at top U.S. banks is $9.60. Amounts average between $0 to $20, with many finding a middle ground at either $7, $10 or $12.
Having a bank account is required to get most types of credit, and it can also be useful for things like direct deposit or cashing a paycheck. Now, you can open a bank account online, with no deposit, with bad credit, and even with no monthly maintenance fees in many cases.
What You Need to Open an Account. To open a bank account online, be prepared to provide personal information, so the bank can verify your identity. You may also need to make an initial deposit or arrange for electronic deposits to your new online bank account.
Although you can get through life without ever opening a bank account, having one is inarguably more convenient and efficient and for more than just storing your cash. Now, you can open a bank account online, with no deposit, with bad credit, and even with no monthly maintenance fees in many cases.
To open an account, all you need is your ID book and proof of residence. A bank account is a safe and reliable way to keep your money, and many jobs nowadays require you to have a bank account to receive your salary.
Processing your application and issuing your account number could take a day or two. And you may have to wait seven to 10 business days to receive a debit card and some account information in the mail. If you'd prefer to open an account in-person, the process may take much longer (i.e. 30 minutes to an hour or more).
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