Keep your money safe in a federally insured bank.
Banks insured by the Federal Deposit Insurance Company protect your personal accounts up to $250,000, so your money is safe from damage, loss or theft. Credit Unions do the same if they are insured by the National Credit Union Administration. Opening a personal bank account not only protects your money, it saves you money. Cash your checks for free and build a solid relationship with the institution. You may even earn interest on money you keep in the bank.
Instructions
1. Go to the bank of your choice. People often choose banks close to their work or home for convenience.
2. Talk to a banker. Tell her what your goal is with your bank account and whether it is for savings or checking. Ask her what types of accounts are available. Decide which account best suits you.
3. Fill out the paperwork. You will likely have to show your driver's license or state identification card, along with another form of identification, like a utility bill, passport or credit card. If you are a U.S. citizen, you'll need your social security card.
4. Give the banker your money to open the account. Get a receipt for your deposit.
