No matter the reason, opening a bank account now could be a smart move because it can help you more easily track and manage your money and grow your savings. Another perk? It depends. Do you need to pay rent, car payments, or other bills? Then a checking account may be best. You can choose to get a debit card, which lets you make purchases using the money from your checking account.
You can also use a debit card to withdraw cash from an ATM. Want to do all of the above? Consider opening both a checking and a savings account. Opening both at the same bank and linking them could give you the convenience of easily transferring money between accounts, 2 and some banks may even offer some perks for opening both a savings and a checking account.
Also check to see which account may have a special benefit for students, such as waiving the monthly service fee, which Wells Fargo and many banks offer.
Yes, many banks require a minimum deposit to open an account. You also need to confirm whether there are any service fees that could be avoided by maintaining a certain balance in your bank account or meeting other criteria. If you spend more than you have, you may be charged a fee for having a negative balance known as an overdraft charge. Another way to help avoid that happening is setting up low balance alerts 3 so you get a text or email when your account balance dips below a certain amount.
Many banks also offer optional overdraft protection services. With overdraft protection, you can link your checking account to another account, such as a savings account, so that overdrafts incurred on your checking account are covered by the available funds in the linked account.
Talk to a banker when you open the account; they can discuss the fees tied with your account and options you have to avoid them. There are exceptions, though, so be sure to check with your financial institution to see what its policies are. The upside to having your parents or guardians on your account? They can help you keep track of your balances and identify when you need to make deposits.
Once you open an account, familiarize yourself with it by logging in with mobile banking and checking on your money.
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Comienzo de ventana emergente. Personal Going to College Opening your first bank accounts. Opening your first bank accounts. You are leaving the Wells Fargo website You are leaving wellsfargo. Cancel Continue. It has a large physical footprint, with more than 7, brick-and-mortar locations in the country and over 13, ATMs, as well as a full suite of online and mobile banking tools.
The bank is insured by the Federal Deposit Insurance Corp. The APY may vary by region. Clear Access Banking is a checkless checking account. Checks cannot be written against this account including personal checks from a third party. Instead, payments and purchases are made with a contactless debit card or digital wallet.
Clear Access Banking is a good fit for teens and college students who keep lower account balances. Minors 13 to 16 must have an adult co-owner on the account. Account holders also have access to the Zelle peer-to-peer payment platform. There are no overdraft protection options for this account.
If there are not enough funds in the account to cover a transaction, such as an ACH payment, it will be returned unpaid. Wells Fargo will not charge a non-sufficient funds NSF fee, but payees or merchants may still charge a fee.
Out-of-network ATM fees include:. Everyday Checking accounts, like all Wells Fargo personal checking accounts, includes zero-liability protection for any unauthorized card transactions that are promptly reported.
It can be avoided by:. This account is for customers who want premium-level service and perks. The annual percentage yield on a Portfolio by Wells Fargo checking account is 0. APYs can fluctuate and differ depending on where you live, so ask about the APY before you open an account. They all offer:. A credit union is another alternative, as long as you meet the membership requirements.
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