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How to Open Bank Accounts

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Opening a bank account
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    Instructions

    1. Questions to Ask

      • The following questions MUST be answered before you give your money away.

        1. Is there a monthly fee for maintaining this account? If so, what is it?

        2. Is there a minimum balance that I must keep within this account? If so, what is it? And what sorts of fees apply if I go under that limit?

        3. What is the interest rate on my savings account?

        4. Is the account for which I'm applying FDIC insured? (You definitely want your account to be insured by the Federal Deposit Insurance Corp. If your bank ever goes bankrupt and loses all your money, the FDIC will pay you back down to the very last cent.)

        5. Is there a limit to the amount of transactions (deposits/withdrawals, check writing, ATM uses) I have per month? If so, how many do I get of each? What sorts of fees apply if I go over my limit?

        6. Where can I withdraw cash without paying any fees? What is the fee for using an ATM machine that doesn't belong to this bank?

        In addition to these questions, don't be shy when it comes to asking for clarification on anything that confuses you.

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    References

    Resources

    • Photo Credit bank roll image by John Sfondilias from Fotolia.com

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    Comments

    • layla7mod Sep 02, 2010
      account number 923746
    • layla7mod Sep 02, 2010
      account number 923746

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