One of the necessary first steps in your financial journey is getting a checking account. Don’t make a mistake and open your first account with a bank that will charge you outrageous fees or not meet your needs.
Get our top picks for opening a checking account with a credit union or traditional bank. Don’t pay fees for any checking account, learn the key rules you should follow to protect your account, and other valuable information.
We highly recommend you use the following criteria when selecting a checking account:
- No monthly fees or minimum deposit amounts
- No ATM fees and refunds for out of network fees
- Good customer service
- No minimum opening deposit
Our Top Checking Account Picks
Our top institutions that meet the criteria and offer great perks for students or first time account holders are:
- Navy Federal Credit Union
- Capital One
- Discover
- Ally Bank
- Optional: look into your local credit unions as they many times offer very competitive benefits.
Once you get your account there are many things you should make sure you do to keep it in good standing and setup your financial profile for the future:
- Always keep track of your balance and know what is coming in and out of your account.
- Never write a check without having the money in your account.
- Limit your debit your card use to protect against fraud and maximize perks.
- Keep track of your checks and safeguard them.
- Utilize strong passwords and enable multi-factor authentication.
- Be careful giving out your account information when authorizing ACH transfers.
- Utilize direct deposit for paychecks and automatic bill pay to ensure your bills are always paid on time.
Once you have your checking account you are ready for the next steps in your financial success. College students in particular should follow our guide before starting college.
Get more insights by watching the video below: