Dear New Hire,
Congratulations on your new job and on your decision to open a bank account. First, you’ll want to gather some information to help you choose a bank or credit union. Asking these questions should help:
- Is it convenient? Find out if there are branches near your home or office and whether the hours of operation are convenient for you.
- Does it offer the services you need? Get information about different types of accounts, wire transfers, electronic banking, direct deposit, and other services that they offer. Find out if they speak your language and if they have any special assistance should you need it.
- Where are their ATMs located? Are the ATMs located near your home, your job, or the places you shop?
- If you are choosing a credit union, are you eligible for membership? Find out the requirements for membership. Many credit unions have relaxed their rules for membership.
- What fees will you pay? Get details about costs — monthly maintenance fees, fees for bounced checks or overdraft fees, minimum balance requirements and interest rates.
Once you select a bank or credit union, determine which type of account best meets your needs. Again, you’ll want to ask some important questions including: - How much money do you need to open the account?
- Does the account require a minimum balance to avoid monthly charges?
- How many free checks can you write every month before incurring extra fees?
- Does the account pay interest? Keep in mind that when you open an account, you’ll need to provide one primary form of photo identification and one additional form of identification.
Signed,
Your H.O.M.E. Expert
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 Reminder! |
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Primary forms of identification include: a driver’s license, non-driver’s photo identification card, government issued photo identification, and passports. Additional forms of identification include:
matricula consular identification, national credit card, car registration, utility bill, bank-issued debit or credit card, and pay stubs. However, not all businesses will accept these additional forms of identification. |
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