Checking Account
Why pick a checking account to begin with?
- A checking account has little to no fees, easy to access money and low minimum deposit requirements
How to open a checking account:
- To open a checking account, you need to apply for it at a bank, either in person or online. If you’re under 18 you need to open the account in person at a bank, 18 and older can do it online.
- When deciding what bank to pick, evaluate the different costs and benefits banks in your area provide. Some banks that offer good plans for teens/young adults are through Capital One, Navy Federal Credit Union and Chase
- When opening the account, you’ll need a valid government ID and Social Security number (SSN)
- After it’s open you can manage it online or through mobile banking apps. Apps are way easier to manage as you can put face id as the password.
Direct Deposits
- Direct deposits are used to deposit funds into one’s account electronically. The money deposited into the account can come from salaries, tax refunds, investment, redemptions and government benefits
- This process is normally instantaneous, but sometimes it can take 1-3 days to process.
How to set up direct deposits:
- If you work already, your employer has likely asked you to fill out a direct deposit form. The process itself is simple:
- Atain a direct deposit form from your employer
- Fill in out banking information
- Confirm the amount being deposited
- If needed attach a voided check or deposit slip if required
- Submit form