Wednesday, September 06, 2006

Steps to open a bank account

The simple way is to pick up the first bank you see on the street and open your account there.

However if you are not in a rush to open up a bank account, I suggest you to look around first. Look around in the neighborhood and pick up 2-3 banks which are conviniently located to you and have lots of branches in your area. Dealing with banks with lots of offices and branches is convenient, it makes banking easier and the waiting times shorter. You can also ask for references from friends, and ask them why they recommend a specific bank. What they like and what they don't like?

What account to open first? Because most of the newcomers in America are not millionaires, in most cases a checking account is needed first for daily activities. Later on when you made and saved some money you can open a savings account too.

OK, you have your list of banks and the next step is to visit them. Don't have to visit all of them in the same day. Pick up one from the list and step in. As you step in, you will see the windows where the tellers operate. You will deal with them later, when you want to make deposits or withdrawals. You never open a bank account at the teller. Right now you want to meet any of those representatives who are sitting at their desks and assisting customers. They will answer your questions and give you help with opening your account. In some banks there is a waiting list you have to subscribe to first, and the customers will be called by name, and assisted in their order of appearance. Usually you have to take a seat and wait until you are called.

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