How to open a checking account

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• The first step to opening a checking account is choosing one that's right for you.
• To open one, you'll need a government ID, social security number, and proof of address.
• You'll fill out an application, then make an opening deposit.

A checking account is a great tool for storing money you plan to spend soon, whether it's on rent, gifts, or a night out with friends.

Here's how to choose a checking account for your needs, and what's needed to fill out an application. You can also refer to our best checking accounts guide to find accounts with minimal bank fees.

How to choose the right account

First things first — figure out which checking account you want to open. Here are some tips for making your decision:

1. Decide which type of checking account you want

There are several types of checking accounts, and the right fit depends on what you want your checking account to do for you.

• Standard checking account: There aren't many bells and whistles. You just want a place to keep your spending money, and for anything fancier, you're more interested in a savings account or CD.
• High-interest checking: Unlike most checking accounts, a high-interest account helps you earn money on top of your money. You can find interest checking accounts at many types of institutions, but they're most commonly at credit unions. Credit unions also tend to pay the highest rates on checking accounts.
• Cash-back checking: These accounts also help your money work for you. For example, the Discover Cashback Debit Account pays 1% cash back on up to $3,000 of purchases each month. You could pocket $30 per month or $360 per year.
• Other types: Maybe you want to open a checking account college student or teen. Some banks also have checking accounts that waive fees for senior citizens.

Once you know which type of checking account you want, you can start to narrow down your search.

2. Decide which type of institution to use

Do you want to open a checking account at a brick-and-mortar bank or at an online institution?

Brick-and-mortar banks are good if you want the option to walk into a branch and speak with a professional. But online banks tend to charge lower fees. 

If you want a high-interest or cash-back checking account, you'll have more options at online banks and credit unions.

3. Narrow it down

Find a bank that's accessible. If you like to bank from your phone, choose one with a strong app. If you're using a brick-and-mortar bank, find one with a branch near your home.

You'll probably want a checking account that either doesn't charge monthly service fees or makes it easy to waive them. You should also consider overdraft fees, foreign transaction fees, and out-of-network ATM fees. For example, if you're worried about overdrawing, find a bank that doesn't charge overdraft fees or has free overdraft protection.

Once you've made your choice, you can prepare to open your account, either at the bank or from your computer.

How to open a checking account

1. Bring the required materials

You'll need the following to open a checking account:

• Government-issued ID, including a driver's license, passport, military ID, or state-issued ID
• Social security number (SSN) 
• Proof of address, such as a utility bill mailed to your home

You may need some additional things if you plan to open a bank account for a minor, or if you're opening a joint account:

• A guardian
• Proof that you're a student
• The official documents for both people on the account

2. Complete an application

When you fill out the application, you'll give the banker the aforementioned documents, or provide pictures if you're applying online. You'll also enter information like your email address and phone number.

Once you've signed the documents, the banker will let you know whether you've been approved. For an online bank, you'll wait for a confirmation email.

4. Set up an opening deposit

Some checking accounts have a minimum opening deposit, maybe $25 or $50. You'll need to have this on hand to open the account.

If the checking account doesn't require a minimum deposit, you can still have the money you want to deposit with you at this time. Otherwise, you can deposit money later.

The hardest parts of opening a checking account are selecting which account to use and gathering the documentation. After that, it's a pretty straightforward process.