How To Open 2go Account?

How much money do you have to have to open a bank account?

• I'm going to be 16 this year, once I turn 16, I want to open a bank account. How much money do I need to have to open one? Also, once I opened a bank account, do I have some money inside or do I have to work and save money into my account from $0? Last, once I get my check, do I just give it to the bank and they put the amount of money in my bank account? Or is it for me to decide if I want to put it in my bank account or for them to give me cash right away?

• Answer:

  Banks want $25 to $100 to open a checking account. Whatever money you use to open the account will be in your account as the beginning balance. If you open it with $50, you have $50 to spend. You will have to purchase your own checks if you plan on writing checks on the account. When you get a paycheck, you can decide if you want the back to give you cash, or you can put it all in your account. Most banks will start charging a fee to have a checking account (8.00 or more) per month, so you have to pay attention that you don't spend all of the money in your account. OR you could just open a savings account (with $25.00), and deposit some of your check into it, and get cash for the amount left over.