Opening a bank account depends upon the type of bank account you need to open. If you are stuck with the question what do I need to open a bank account then read this article to clear your doubts. There are several documents that you need to submit for getting an account started in bank. If you want saving account then commonly you require address proof, age proof, phone bill, and several other documents that legally explain your eligibility in the country. This takes approximately half an hour to fulfill the process. Same goes for other accounts, like joint accounts require documents to start an account together.
Before you open an account, you need to finalize what type of account you want and where you want that bank to be. Many people have checking account that allows them to deposit the money and use checks or credit card for paying bills. This depends on the bank and some of the banks allow you to use an interest bearing checking account. This type of account enables you to earn money on deposits. Different banks pay different interest rates which you need to check first. As per the benefits, you can open an account in a bank. This will allow you to earn more money on your deposit. Each account type requires a minimum account balance that you need to keep without which (if less balance is maintained) then you will be charged with a fee. One good thing about having a bank account is that you can anytime withdraw money from the account through Automated Teller Machines which are set up at various locations for convenience. Therefore, using local bank or credit union would be a good choice as it supports your local economy.
While opening a bank account, you need identification that proves your address and age like driver’s license or passport. Visit the bank during off hours, so you will get access easily and the bank staff will cooperate with you perfectly. Once you complete the information (submitting Xerox copies of documents) and depositing money, you will be given with temporary checks and passbook.
Bank account can also be opened via phone call or on internet. All the information is given to the banker on call or filling the details online and submitting. You need to send a scanned signature of yours to finalize the account. Once the bank receives your signature, they will send you official passbook, checks and other materials related to bank account.