How much money do you need to start a checkings account?

Answer 1

== == Most of the major banks require a minimum balance to keep open. While some smaller banks and credit unions let this rule slide to keep customers, Financial collapse of September 2008 has forced most banks to moving back to a minimum balance rule. The amount of the minimum balance often varies depending on the bank and the type of account. Savings accounts? Many savings accounts do require minimum balances. Typically as long as you keep the minimum balance in your account, they will not charge you a fee. Many banks offer accounts with no minimum balance or a very low minimum balance.

Answer 2

Yes, but it varies from bank to bank, and among similar financial institutions. Usually there will be a service charge applied to accounts below a certain balance. Credit unions often forego these charges, but sometimes will require that a minimum balance be retained in a savings or other account in order to have a no-minimum checking account.

Answer 3

You can open a checking account with any amount of money - There is no dollar requirement to open the account. There are dollar limitations to interest rates, however. For example, you may receive a higher interest rate on your account if the amount is over $5000 versus if the amount is $100.

Answer 4

It depends upon the bank and type of saving account you require. While some many not have a minimum balance requirement, there may be other requirements as a consequence such as a monthly direct deposit.

Answer 5

I think it is US $ 500 for a simple checking account. The bank would give you an ATM card and a check book for this account. However if you arrange to have a Direct Deposit (Your Monthly Salary/paycheck) into this account Bank of America waives this minimum balance requirement and you can have it as a Zero-Balance checking account.

Answer 6

I think it is US $ 500 for a simple checking account. The bank would give you an ATM card and a check book for this account. However if you arrange to have a Direct Deposit (Your Monthly Salary/paycheck) into this account Bank of America waives this minimum balance requirement and you can have it as a Zero-Balance checking account.

Answer 7

This will be attached to a list of services or fee reductions or fee eliminations

You need to keep more than the minimum balance to get those benefit's.

Answer 8

It depends on the bank.

Answer 9

At least $100 to open one