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Choosing and opening the right bank and bank account.Tips!
May 15, 2017 By Luis Langarica
(Checking & Savings Accounts)
Having trouble choosing and opening a bank account can be quite difficult considering it’s your first time so don’t feel guilty or shy because we all will go or have gone through the same process. First off make sure you are eligible. If you are under 18 some banks require your parents signature. Also you'll need to have valid identification like your SSN and you'll need a limited amount of money for opening an account. Each bank has their own limited amount of money you must have to open the account. If you're opening a checking account make sure the bank you're interested in gives you online and mobile access because it makes things simple and fast.For a checking account, some banks charge you a monthly fee so look into that to. In the savings account make sure that the bank has a competitive interest rate. According to Greg McBride, the chief financial analyst at Bankrate.com, says that “anything at 0.7% interest or above is competitive.”
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