How to open a bank account
Opening a new account is super easy to do. There are a few reasons why opening a bank account can be helpful. You can save for school, trips, a car and other goodies you may want. Some employers will also send your paycheques directly to an employee’s bank account, so it’s important to have one for yourself! And no time is better than the present to start learning about banking. First, you should do a bit of research so you can get the best bang for your hard earned dollar. You need to decide what type of account you want: chequing, savings or both.
If you think every bank is the same, think again. Don’t just settle on a bank because your parents have an account there or because it’s the closest to where you live. Here are some examples of what’s out there:
Royal Bank of Canada
TD Canada Trust
Don’t forget to check out other financial institutions such as credit unions and President’s Choice Banking who do not have a central branch. The right bank account for you is out there!
Often when you open a bank account, you will be asked whether or not you want Internet banking. Although Internet banking is very simple and convenient, be aware of the risks and the dangers associated with it. Make sure you protect your hard earned money by watching out for phishing scams and never revealing your password to anyone. Your bank will never ask you for any of your banking information through an email. Also, never use a public computer to do your online banking.
Be sure to handle your debit and credit cards carefully. Check out this blog for more information on safely handling these cards.