Aspects

• You will get an ATM card, which usually includes a Visa or MasterCard logo, thereby allowing you to not only withdraw money from your account at an ATM machine but also utilize the card to purchase items. Most banks charge monthly fees to utilize the checking account services; however, many banks offer various incentives to maintain certain types of checking accounts. For instance, some banks will not charge a monthly fee if you keep a specific minimum amount of money in the account, while some banks may waive certain fees if you make regular direct deposits into the account. Additionally, most banks allow the checking account holders to perform several banking functions by way of electronic banking. Electronic banking allows you to view your balance, verify debit card transactions and keep track of checks that have been cleared through the bank. Also, many banks enable the account holders to perform other banking functions, such as transferring money from one account to another and paying certain bills online, utilizing the electronic banking service.
  
  

Authorization

• The first step in opening a bank checking account is to speak with a bank representative and complete a checking account application. You may be able to open the bank account online or over the phone. Otherwise, you will need to speak directly with an account representative at a bank location. Most banks will perform a credit check to determine whether you qualify for a checking account. Also, you will need to bring certain items to verify your identity. Therefore, most banks will require you to furnish a driver's license to verify your name, driver's license number and address. Also, you will need to provide you Social Security number. After you have received the authorization to maintain a checking account with the bank, you will need to agree to specific terms and rules associated with having the checking account. You will be required to provide your signature to represent your acceptance of the terms of the account.
  
  

Bank Fees

• Banks offer different types of checking accounts with different requirements and fees. Some of the common fees associated with a checking account include monthly maintenance fees, fees associated with debit card transactions, overdraft fees, fees connected to bounced checks that fail to clear the account and fees connected to dropping below the minimum balance for the account. Also, many banks offer assistance to help account holders avoid excessive fees, such as overdraft protection and electronic banking.
  
  

Tip

• It is beneficial to review any tutorials offered by the bank to understand the features of the bank's electronic banking services. Helpful online banking tutorials may help you navigate the bank's website.