How to Open a Checking Account | Chase (2024)

A checking account is typically used for everyday transactions and purchases. With a checking account, you can deposit and withdraw money (either through the bank or an ATM), write checks, pay bills, and make purchases with a debit card.

There are different types of checking accounts to consider when deciding which is right for you, so it’s important to understand the benefits of each. When you’re ready, opening a checking account can be relatively easy if you’re prepared with the right information and documentation.

What do I need to open a checking account?

There are a few documents you will need to open a checking account whether it is online or in-person. Banks and other financial institutions may have different requirements for opening a bank account. If you are a U.S. citizen or non-U.S. citizen residing in the U.S., here’s a list of a few documents you may need to open your account. However, check with your financial institution to determine what documents you will need.

  • Identification.This could be a valid:
    • U.S. government issued photo ID, driver's license or state ID
    • Social security cardor individual taxpayer identification card
    • Passport with photo
    • Birth certificate (minors only)
  • Proof of address.It must show your name and address of your residence. This could be current and valid:
    • Utility bill,bank statement or credit card statement with name and address
    • Employer pay stub or pay check with name and address
    • Mortgage or lease documents
  • Opening deposit.You may need to provide the deposit at the time of application if the bank has a minimum opening deposit requirement. If so, you can typically do so with:
    • Debit card
    • ACH transfer
    • Cash
  • Application.To open a checking account you will likely need to complete an application for approval either in-person or online.

What to consider before opening a checking account

Before you apply for a checking account, it’s important to know the potential upsides and downsides of different types of accounts. This may help you decide which account is right for you. Here are some factors to consider:

  • Checking account perks.Premium checking accounts may offer perks you'd typically have to pay for, such as checks, official checks, money orders, waived out-of-network ATM fees or a no fee safe deposit box, if offered by your bank. Rewards checking accounts allow you to earn points or cash back through purchases with your debit card.
  • Service and ATM fees.Depending on the account, you may have to pay monthly service or maintenance fees. There may be options to waive the monthly service or maintenance fee if you meet certain requirements. Other fees such as out-of-network ATM fees or overdraft fees and other miscellaneous fees may apply.
  • Fund access.The benefit to checking accounts is that you can access your funds through a debit card or checks.However, because some checking accounts have minimum balance requirements to waive the monthly service fee, consider how important it is for you to have access to all your funds on demand.
  • In-person vs. online.Some checking accounts through traditional banks give you access to brick-and-mortar locations you can visit for assistance, account management and transactions. Others, like online or checkless accounts, are online only. Weigh whether it’s important to have access to a real person vs. conducting all of your needs online or over the phone.

You should also consider the differenttypes of checking accounts.Whether it be student checking, college checking, or a traditional checking account, each plays an important role when it comes to managing your finances.

Checking account features to look out for

In addition to checking account requirements, there are a few steps to take to open your account and get it all set up.Because there are several types of checking accounts available depending on your financial goals, it’s important to do research and compare your options before choosing one.

First, think about which services, perks, and checking account features are important to you—and which aren’t. Also consider potential downsides like monthly service fees, withdrawal fees, and minimum deposit requirements.

Where to get a checking account

Another consideration is having an account through a traditional bank, a credit union, or an online bank. Think about whether having an in-person place to go is a requirement for you, or if you are comfortable managing your account completely online.

How to Open a Checking Account | Chase (2024)

FAQs

What is required when opening a checking account answer? ›

You'll need the following information: Your Social Security number. A valid, government-issued photo ID like a driver's license, passport or state or military ID. A minimum opening deposit of $25 to activate your account (once you've been approved).

How do you open a checking account step by step? ›

Gather your important information (ID, proof of address etc.). Fill out an application online or in person. Pay your opening deposit (if required). Start using your checking account.

How do you open a bank account answer? ›

How To Open A Bank Account In India Online?
  1. Step 1 - Choose a bank in which you want to open your account. ...
  2. Step 2 - Visit the bank branch or its website. ...
  3. Step 3 - Choose a suitable banking product. ...
  4. Step 4 - Provide relevant information and documents. ...
  5. Step 5 - Agree to the terms and conditions of the bank.

How to get a bank account with bad ChexSystems? ›

Many credit unions will open an account for you if you can reasonably explain why you haven't paid a ChexSystems debt, and some credit unions will not pull a report on you even if you do have poor history. Call and ask to speak to the branch manager or other bank official.

What are 3 questions you should ask when opening a bank account? ›

9 questions to ask before opening a bank account
  • What are the bank's fees? ...
  • Where are the bank's ATMs? ...
  • Is there a minimum balance required? ...
  • What's the accounts' interest rate? ...
  • Does the bank have good customer service? ...
  • Does the bank have online banking and a mobile app?

What is a good reason to open a checking account? ›

Opening a bank account can be one of the most important steps you take toward reaching your financial goals. Why? Because putting your money in an FDIC-insured bank account can offer you financial safety, easy access to your funds, savings from check-cashing fees, and overall financial peace of mind.

What are the basics of a checking account? ›

A checking account allows you to make deposits and withdrawals to cover daily and monthly living expenses. You can access money in a checking account with a check, at an ATM or through electronic debits. Checking accounts often don't pay interest. Checking accounts might charge fees, such as monthly or overdraft fees.

What is the easiest way to open a bank account? ›

To open a bank account you usually have to fill in an application form. Often, you can do this in a branch or online, and sometimes you can also do this over the phone. You will also have to provide proof of your identity including your full name, date of birth and address.

What are the 7 steps to open a bank account? ›

7 steps to take to open a savings account
  1. Choose how to apply. ...
  2. Gather your identification. ...
  3. Provide contact details. ...
  4. Select a single or joint account. ...
  5. Accept the terms and conditions. ...
  6. Submit your application. ...
  7. Fund your new account.
Nov 20, 2023

What are 3 things you do to open a bank account? ›

To open a bank account, you'll need to first choose a bank and provide it with some necessary information, including your identification and proof of address. You'll usually need to be 18 to meet the bank's eligibility requirements. Finally, you might need to fund the account or have a minimum balance to avoid fees.

Why banking best answers? ›

Sample Answer:

The banking industry is lucrative and plays an important role in our economy. It offers challenging roles and opportunities to develop skills and knowledge. The dynamic nature of the industry and its relevance in the economic scenario is why I want to pursue a career in the banking sector.

What are the 4 steps to opening up a bank account? ›

  1. Choose the account.
  2. Gather personal documents and information.
  3. Fill out the application.
  4. Fund your new account.
  5. See more banking guides.
Jun 24, 2024

What to do if no bank will accept me? ›

If you are unable to open a new bank account, here is what you should do.
  1. Ask the bank to reconsider. ...
  2. Get a copy of your report. ...
  3. Check your report for errors. ...
  4. Clean up your report. ...
  5. Look into getting a 'second-chance account' ...
  6. When you're ready to apply for a traditional checking or savings account.

Why would a bank deny you a checking account? ›

Reasons You Can Be Denied a Checking Account

Excessive overdrafts or nonsufficient funds incidents. Unpaid fees or negative account balances, whether from an active or closed account. Suspected fraud or identity theft. Applying for too many bank accounts over a short period of time.

Which banks don't use ChexSystems? ›

Summary Of The Best Banks That Don't Use ChexSystems Of 2024
Bank / Credit UnionForbes Advisor RatingMinimum Deposit Requirement
SoFi Checking and Savings Account4.5$0
Capital One 360 Checking Account4.5$0
Chime® Checking Account4.4$0
LendingClub Bank Rewards Checking4.2$25
1 more row
Jun 18, 2024

What are the requirements for opening the first bank account? ›

Current Account
  • Photograph.
  • Valid ID card.
  • BVN.
  • Utility bill (not more than 3months)
  • E-Signature.
  • 2 References.

What info is needed to open a bank account? ›

Requirements for opening a checking account generally include a valid, government-issued photo ID such as a driver's license, state ID or passport. You'll also need basic personal information, such as your birthdate, Social Security number, taxpayer identification number or phone number.

What is required when opening a checking account on Quizlet? ›

To open an account, complete the proper paperwork, show identification, go through account verification, and sign a signature card. Maintaining an account means making deposits and withdrawals, recording transactions in the checkbook register, and keeping track of your balance.

What are the documents required for bank account opening? ›

Two latest passport size photographs. Address and identity proof documents. For a full list of address and identity proof documents, click here. Only a single copy of the document is required if it is listed under both address and identity proof, e.g. Passport / Aadhar Card.

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