How to Open a Bank Account

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Opening a bank account involves first finding a bank you are comfortable with, followed by providing a driver's license and any other required contact information. Avoid paying excess fees when opening a checking account with money advice from a registered financial consultant in this free video on personal finance.

Part of the Video Series: Personal Finance & Money Managing
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Video Transcript

This is financial adviser Patrick Munro, talking about how to open a bank account. When you go to a bank, and you find a bank that is suitable to your location, and when you walk in, you feel comfortable with the surroundings and the staff that are there, it's time to open a bank account. The best bank account to have is of course, a checking account, because you would present your driver's license, and all your contact information, and be processed by the new account salesperson at the bank. Make sure you're not paying excessive fees, and present your entire information to them, so they know how to contact you, should they need to do so. You can choose your checks, and really, at the end of that period of time, after introducing yourself to everyone that matters in the branch, you now have a relationship, a new one that can be enhanced over time. Banks love you to have more products with them, in addition to your bank account going forward, and from that relationship, could emerge credit cards, car loans, and indeed mortgages going forward. This is Patrick Munro, financial adviser, talking about how to open a bank account.

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