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How do I open a bank account and what is the best bank?
I was talking to my best friend yesterday and the idea of having a bank account came up. I am over 18 and have been working as a cashier at the local Walmart for awhile. Walmart offers a direct deposit to the back account of my choice, but I don't have a bank account right now. I've just been getting my Walmart check every two weeks and cashing it at my mom's bank (BB&T bank). I think it would help me keep better track of my money if I had it placed in a bank.
I asked my mom today if she thought I should get a bank account started up and she said it didn't sound like such a bad idea. She told me to find a bank that I felt was good and to see them one day this week about opening a bank account. I'm sure she'd suggest BB&T but she's been with BB&T for a long time and she is crazy about the BB&T free online banking. I am really afraid about going to a bank though since I don't know anything about bank accounts and I do NOT want to make a bad move, especially with how the economy is!
So, how do I start a bank account and where should I get one at? I know BB&T is where my mom banks but is it a good decision to go there or will they be filing bankruptcy like other banks have recently? What are some good banking choices? I know some of the big banks are BB&T, Citibank, Bank of America, and Chase but I have no clue if any of them are really safe to place my money in.
What questions should I ask when I talk to someone at the bank about creating a bank account? What do I need to know?
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Want to answer more questions in the Work & School category?
Maybe give some free advice about: Personal Finance?
Unless you are VERY rich, you have nothing
to worry about. Your money is insured and
if your bank goes belly up, you will get
your money back. Here is a site that tells
you how to open an account with tips on
choosing a bank that's right for you.
[Link](Mouse over link to see full location)
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i've used Bank of America for awhile, and i like it pretty well. if you're in school, you can sign up for student banking. that way it's free to sign up =] and you still get a debit card and online banking and everything. Bank of America also has lots of little opportunities you can get. one is called Keep the Change and i used it for awhile. its whenever you use your debit card, the change left over from the dollar amount you spend transfers into a savings account. its pretty cool. i would go up there and just ask them about opening up a first time student banking account. they're really helpful and will walk you through the process and help set up online banking for you. good luck!
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okay. i totally get what your saying. the best bank for you, just depends on what kinds of things your looking for such as intrest rates etc. as far as the economy totally sucking. if all you are doing is putting your money into a savings or checking account, then there are no worrys. If whatever bank you choose for some reason goes out of business the FDIC provides free insurance to anyone with less than $500,000 in their account. You don't have to sign up for it or anything. beware of hidden fews, and make shure to keep track of how much money you have left in your accounts to avoid overdrawing. for the being nervous part. its completely understandable. its a new thing and a new thing to learn. If you need to take your mom with you, if not, just walk into the bank of your choice and ask them about opening an account and they will help you out. Thats their job. They're used to it. Don't stress. =]. i hope i helped. im sry its so long. let me know if you have any other questions.
-jessicamarie.
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Well first off, maybe have your mom come with you. She'll know what kind of questions to ask them about the interest, etc. Ask her if she can do research at different banks online before you go. She'll probably understand everything. Make sure you bring your social security card with you.
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