A bank account is a safe place to keep your money. You can put money in (called a deposit) and take money out (called a withdrawal). Banks and credit unions both offer accounts — banks are for-profit businesses, while credit unions are non-profit and often have lower fees.

Checking: 

• Used for everyday spending (like buying food, gas, or clothes).
• You can pay with a debit card, write checks, or use online banking.
• Your money is easy to access.

Savings:

• Used for saving money for future goals.
• Usually earns a small amount of interest (extra money the bank pays you for saving).
• You can still move money between accounts, but not meant for frequent use.

Tip: Use your checking account for spending and your savings account for saving. 

• Things to look for:
  • No or low monthly fees
  • Free checking accounts for students
  • Online and mobile banking apps
  • Nearby ATMs (to avoid fees)
• Tip: Many banks offer student accounts for teens ages 13–17 with a parent or guardian.

• Photo ID (such as a driver’s license, learner’s permit, or school ID)
• Social Security number
• Proof of address (such as a school letter, report card, or utility bill)
• Parent or guardian (if you’re under 18)
• Some banks also ask for a small deposit (like $25) to open your account.

• Go to a branch in person.
• Open an account online on the bank’s website.
• The banker will help you complete the forms and set up your debit card and online banking access.

• Once your checking account is open, you’ll get a debit card that:
  • Lets you pay for things directly from your checking account
  • Can be used at ATMs to withdraw or deposit cash
• Your debit card is not the same as a credit card (you’re using your own money, not borrowing from a bank)
• Track your debit card/checking balance to make sure you don't overdraw your account (i.e.spend money that you don't have in the account)

Direct deposit means your employer sends your paycheck straight to your bank account — no paper checks!

You’ll need to give your employer:

• Your bank’s name
• Your account number
• The routing number (a 9-digit code that identifies your bank)

💡 You can find both numbers at the bottom of your checks or in your bank’s app.

Once set up, your paycheck will go directly into your account on payday — fast, safe, and easy

Even though many people use debit cards or apps, checks are still used sometimes.

A check is a piece of paper that tells your bank to pay someone from your account.

When you write a check:

1. You fill out who it’s for, the date, and the amount.
2. The person you pay deposits it into their account.
3. The money is taken out of your checking account.

Important: Keep Track!

• Always record every check you write in a check register (or notes app).
• This helps you know your true balance, because sometimes checks take a few days to clear & for the money to be deducted from your account.
• Example:
  • If you have $500 in your account but wrote a check for $200, your real available balance is only $300 — even if your bank app still says $500.

If you write a check for more money than you have in your account, the bank “bounces” the check — meaning the bank won’t pay it because there’s not enough money in your account.

This can cause:

• Bank fees (often $25–$35)
• Fees for the person or company you paid
• A bad record with your bank

If you do this often, the bank might close your account.

💡 Tip: Always check your balance before writing a check or making a payment.

Helpful tips:

• Check your account balance often (online or through your app)
  • Always protect your online banking information
    • Never share your account or log into your account on unknown devices or networks
• Set up alerts to notify you when your balance gets low
• Deposit into savings regularly to build a cushion for emergencies, unexpected expenses, and future "big" purchases
• Keep receipts to compare with your bank statements