LESSON TWO: OPENING A BANK ACCOUNT
Additional Information
Federal law requires certain personal identification documents to open a bank account. A valid photo ID such as a driver's license, state-issued or military ID is needed. Non-citizens must provide their alien registration number. Individuals must also have their Social Security number and proof of address (a utility bill or apartment lease will do). If the student does not meet the minimum age requirement for opening a student checking or savings account with a bank or credit union, it is recommended that a parent or guardian is present. Students over the age of 18 can open an account without parent. However, if student is under 18, the bank may require parent's name on student’s account. A minimum deposit is required to open bank account. Students will be advised that by depositing initial funds activates the account. Therefore, cash or check payable should be brought with student to open account.