How do i open up a bank account

Opening a new account – much like going off to college – is a rite of passage for many students. The account you choose can help you ease into the habit of managing your own money and making good financial decisions while in school. Here’s a guide on how to open your first checking or savings account:

Figure out what you need

When it comes to determining what accounts will work for you, review your needs. Are you looking for an easy way to access cash? Will you need to write checks? Do you need a way to set money aside for longer-term savings goals? Also, consider the proximity and availability of your bank’s ATMs and branches, in addition to other personal preferences that may be important to you like online banking and overdraft protection.

The type of account you require will be based on your personal and financial needs and goals, so it’s important to know these before choosing your accounts.

Consider your options

Once you’ve identified your needs, evaluate your options:

• Checking account: A checking account can be opened individually or jointly, and you’ll need your basic information, Social Security number, driver’s license, and a minimum opening deposit amount. Most checking accounts come with checks, some don't - choose which you'll need. The account can usually be linked to a debit card – giving you quick access to cash – and can be managed online, as well as at ATMs. Wells Fargo also has a unique service for cardholders called Card Design Studio® service, where you can insert your favorite image to appear on your Wells Fargo Debit Card. You can also provision your debit card to a digital wallet.
  
• Savings account: Similar to checking, you’ll need to choose between an individual or joint savings account, and be prepared with the same basic information and an opening deposit amount. It is never too soon to start saving for your future financial goals. With an account like Wells Fargo Way2Save Savings , you have the opportunity to save automatically by linking to your checking account.

Actively monitor your accounts

Once you’ve set up your accounts, review your options for monitoring and managing them. One way to keep tabs on the status of your accounts is with alerts sent right to your email or wireless device. By signing up for these alerts, you can be notified quickly when a transaction takes place, allowing you to help monitor your account activity wherever, whenever.

There are a variety of Wells Fargo products that can assist you in managing your accounts. Wells Fargo Online® gives you 24-7 access to your accounts with activity details as well as various alerts you can choose from. And with Wells Fargo Mobile®, you can check your accounts on the run – choose from the mobile website or apps to help access your account.

Opening your first bank account is just one milestone in your financial future. Once you get started with opening an account, you’re one step closer to building a solid financial foundation for years to come.

Once you’ve decided which bank you want to use, it’s time to fill out your application online. If you’re under 18, you may need a guardian to co-sign the account. The application process will vary from bank to bank. But all banks are required to verify your identity.5 So it’s helpful to have the following things handy:

• Your driver’s license, passport or other government-issued ID card
• Social Security number or Individual Taxpayer Identification Number (ITIN)
• A blank check, debit card or credit card to make that first deposit

And you’ll usually need an email address, mailing address and a phone number. Once you have that ready, here’s how to open a bank account online:

1. Go to the bank’s website. Stay safe! Any time you’re entering personal information online, take extra care. Find the link to "open an account." (Scroll down the homepage to the site map if you’re having trouble finding the link.)
2. Choose the type of account you want. Most banks let you compare different kinds of accounts to help you decide. Do you want an individual account or do you want to open a joint account online? Do you want things like overdraft protection and the ability to earn interest? From checking and savings accounts to CDs and IRAs, there are many types of accounts you can open online.
3. Fill out an application. Next, you’ll enter all of your personal information. You might also set up your username and password and create security questions to help protect your account.
4. Agree to let the bank collect some information. Sometimes, submitting your application will automatically begin the approval process, but some banks might ask you to review disclosures and privacy policies first. In some cases you’ll have to answer a few legal questions then check a box that lets the bank collect information about you and your credit.
5. Check the approval process. Some banks will tell you if you’re approved right away, while others might take a bit longer. You can always sign in later to check on the status of your application or call the bank if you have questions. If you’re not approved, you might have to go into the branch to finish the process.
6. Make your first deposit. Once you’re approved, you’ll want to put some money in your new account. You can do this from another account online or over the phone. If it’s your first account, you may need to do this step in person with cash or a check.

With your account set up, you’re all ready to begin banking online! Depending on the account and its features, you may be able to write checks, pay bills with your bank account online, set up direct deposit and more right away. And remember: Always keep your username and password in a safe place where no one can find it.

Down the road, you may wonder "Can I close a bank account online?" You can, but each bank handles it a bit differently. Gather your account information, then check your bank’s policy on its website. Or call or stop by if you’d prefer to discuss it in person.6

Banking today brings lots of choices, including the ability to get a whole lot done from the comfort of your home. From opening an account to paying bills, online banking was built for convenience–yours.

Of course, there will always be hoops to jump through, but making things simpler while safeguarding your money is what online banking is all about.