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Setting up a checking account sounds like a straight forward, easy process. And for many, it is. For others, there are things that stand in the way of a checking account. For still others, simply understanding the process of a checking account may be too much. Most banks are willing to sit down and talk with someone interested in starting a checking account with them. They are the first line of information regarding any type of account.
Once one has decided on the financial institution they would like, the first step is to find out the criteria that must be met in order to open an account with that institution. Some require a minimum balance be maintained and deposited when the account is open, others charge a monthly fee for maintaining an account and still others -- although very few others today -- have what is known as totally free checking.
After the type of account has been decided upon, the bank will require several things from the person or people opening the account. Most obvious being a form of picture identification and a social security number. While most banks do not prefer a credit check for opening a checking account, they do run the social security number through a system known as Chex. Chex System is a collection of all financial institution's reports of those people who have recently had the misfortune of having a negative balance at another financial institution resulting in their account being closed. A person who's name is listed on the Chex System will be listed there for a period of five years.
As long as the Chex System does not report that the person or people opening the account have recently had a problem, the process begins. Picture identification, home address, telephone number, birth date and other related information is collected for the bank's file and to create the checks that will be associated with the checking account. Other options such as a debit card or ATM card, online banking, telephone banking and any other services that the bank may offer are set up. Checks must be printed at an outside processing center and therefore are usually mailed to the address on the check.
Wiki User
∙ 13y ago
Wiki User
∙ 10y agoform_title=Set up a Checking Account form_header=Before you can buy a vehicle, you'll need to provide proof of financing. Do you have any other financial accounts?=_ How much money do you want to put into the account?=_ Do you have access to direct deposti?= () Yes () No
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How do you set up direct deposit for my checking account?
If you ask your bank, they can help you.
What information is included on a checking account statement?
The Balance, SOME info used to set up the account, and your banker
What information is needed for a Bank of America customer to set up direct deposits into their checking or savings account?
To set up direct deposits into your checking or savings account with Bank of America, you will need your Bank of America account number, the routing numbers for the branch you use, and your employer's address.
What is the meaning of 'account not available yet' at ATM?
Your account is not fully set up yet if you are getting this message at the ATM. Most banks will inform you that you cannot withdraw money for up to 24 hours after setting up a new checking account.
Is a joint checking or savings account considered part of an estate?
No. Ownership of a a joint account passes automatically to the surviving joint owner unless it can be proven that the account was set up as joint for purposes of convenience only by the decedent.
What can i by online using my checking account?
anytrhing just have to set up a paypal account.
What on-line stores accept checking accounts as payments?
A lot of online stores accept Paypal, you can set up an account using your checking account
How do you set up direct deposit for my checking account?
If you ask your bank, they can help you.
What information is included on a checking account statement?
The Balance, SOME info used to set up the account, and your banker
What information is needed for a Bank of America customer to set up direct deposits into their checking or savings account?
To set up direct deposits into your checking or savings account with Bank of America, you will need your Bank of America account number, the routing numbers for the branch you use, and your employer's address.
What is involved in setting up direct deposit pay on a checking account?
To set up direct deposit pay on a checking account, you will need to provide your employer with the necessary information, such as your bank account number and routing number. They will then initiate the direct deposit process by sending your pay electronically to your checking account. Once set up, your pay will be automatically deposited into your account on the designated pay dates.
How do youMake a payment for my Chevrolet?
visit GMAC financial services at www.gmacfs.com and set up an account to pay online from a checking or savings account.
How do I log in to my checking accounts online?
You'll need to set up your online account at the bank you have a checking account with. Go to your bank's website and look for customer support. Calling your bank is definitely the easiest way to get this set up. If you have an account, go to the website of your bank and click the Log In button, then enter your username and password.
How do I set up an online checking account?
Having an online checking account is a great idea. All you have to do is go to the homepage website of the bank you currently do business with. You can sign up from there after you create your very own user name and password.
How can one save money in an organized and fashionable way?
The easiest way is to set up an automatic debit against your paycheck or checking account at your bank, with a specified amount being automatically taken from your paycheck or checking account and deposited into a savings account.
How do you buy on eBay?
the best way to start buying on eBay is simple. set up a Paypal account. Link your checking account to the Paypal account. then set up your eBay account. the paypal account is the simplest way to keep track of your money and your purchases. I use paypal and its very easy to use.
How can you wisely contribute to your savings account?
The easiest way to contribute to your savings account is to have an automatic transfer set up depositing funds from your checking account to your savings account weekly or monthly. Also you can determine a percentage that you faithfully set aside out of every paycheck.
