Start with where you bank now, or where you live

The easiest bank to choose is often the one already near you. If you have a savings account somewhere, opening a checking account at the same bank takes one visit and one form. If you don't bank anywhere yet, look for a branch within a few miles of home or work — you'll need to go in person at least once to open the account, and you may need to visit again if something goes wrong.

Some banks have branches everywhere. Others have just a few. Before you narrow down your choices, search "[bank name] near me" to see if there's actually a location you can reach. A bank with great features is not useful if the nearest branch is an hour away and you need to talk to someone in person.

Key Takeaways

  • Pick a bank with a branch or ATM close to where you live or work, because you will need to visit in person to open the account.
  • Compare the monthly fee (if any), the minimum balance required to avoid that fee, and whether the bank pays interest on checking accounts.
  • Check whether the bank charges you to use ATMs outside its network, because those fees add up if you travel or move.
  • Call the bank's customer service line before you decide, because how they answer the phone tells you how they'll treat you when you have a problem.
  • Bring your ID, proof of address, and Social Security number to open the account in person.

Understand the monthly fee and what it takes to avoid it

Most banks charge a monthly fee for a checking account — usually between $5 and $15 — but many will waive it if you meet one condition. The most common conditions are: keep a minimum balance in the account, set up direct deposit from your paycheck, or use the bank's debit card a certain number of times per month.

Read the fee schedule carefully, because the condition matters more than the fee itself. If a bank charges $12 a month but waives it with direct deposit, and you get paid by direct deposit, the fee is zero. If a bank charges $5 a month but waives it only if you keep $1,500 in the account at all times, and you live paycheck to paycheck, you'll pay that $5 every month. Some banks have no monthly fee at all — these exist, though they may have other costs elsewhere.

Ask yourself: Do I get direct deposit? Can I keep a minimum balance without stress? How often do I use a debit card? The answer tells you which fee structure actually costs you nothing.

Check what the bank charges for ATM use outside its network

Every bank has its own ATMs. When you use an ATM that belongs to a different bank, you usually pay a fee — often $2 to $3 per withdrawal. That fee comes from your account, and it adds up fast if you travel, move, or live in a place where your bank has no branches.

Some banks belong to a network of other banks, which means you can use their ATMs for free. Alliant Credit Union, for example, is part of a network that includes thousands of ATMs across the country. Other banks charge you every time. Before you open an account, search "[bank name] ATM network" or call and ask: "If I use an ATM that's not yours, how much do I pay?" and "Are you part of any ATM network I can use for free?"

If you move around a lot, or if the bank's branches are far from you, this question matters more than the monthly fee.

Compare what the bank pays you in interest

Some checking accounts pay interest — a small amount of money the bank gives you just for keeping your money there. Most checking accounts pay zero interest, but some online banks pay 4% or higher. The amount is small (if you keep $1,000 in the account, 4% interest is $40 a year), but it's real money, and it costs you nothing to get it.

Interest rates change, so don't pick a bank based on today's rate alone. But if two banks have the same fee structure and the same ATM access, and one pays interest and one doesn't, the one that pays is the better choice. You can find current rates by searching "high-yield checking account" or by visiting bank websites directly.

Call the bank and talk to a real person

Before you decide, call the bank's customer service number and ask a straightforward question: "I'm thinking about opening a checking account. Can you walk me through what I need to bring?" Listen to how they answer. Do they explain things clearly? Do they seem patient? Do they answer your follow-up questions, or do they rush you off the phone?

This matters because when something goes wrong — a fraudulent charge, a missing deposit, a fee you don't understand — you'll be calling this same number. A bank that answers the phone well and takes time to explain things will be easier to work with when you need help. A bank that makes you feel rushed or confused now will feel worse later.

Bring the right documents when you open the account

You'll open the account in person at a branch. Bring: a government-issued ID (driver's license, passport, or state ID), proof of your current address (a utility bill, lease, or bank statement with your name and address on it), and your Social Security number. Some banks also ask for a phone number and email address.

The whole process usually takes 15 to 30 minutes. The bank will ask you how much money you want to deposit to start — you can start with as little as $1 at most banks, though some have a minimum. After you open the account, you'll get a debit card (usually in 5 to 10 business days), checks if you want them, and online access so you can check your balance from home.

Understand the difference between banks and credit unions

A bank is a for-profit company owned by shareholders. A credit union is a nonprofit owned by its members — the people who have accounts there. Credit unions often have lower fees and better customer service because they're not trying to maximize profit. The tradeoff is that credit unions usually have fewer branches and ATMs, though many belong to networks that give you access to thousands.

If there's a credit union near you, it's worth calling and comparing. Credit unions are insured the same way banks are (by the NCUA instead of the FDIC), so your money is equally safe. The main question is whether the branch and ATM access work for your life.

Frequently Asked Questions

Can I open a checking account online without visiting a branch?

Most banks require you to visit in person at least once to open the account, though a few online-only banks let you open entirely online. However, you'll still need to verify your identity somehow — usually by uploading a photo of your ID. If you want to avoid a branch visit entirely, search for "online checking account" and read the requirements carefully.

What if I have bad credit or a history with ChexSystems?

ChexSystems is a database that banks use to check your history with other banks. If you've had accounts closed for overdrafts or fraud, you may show up in ChexSystems and be denied. Some banks specialize in second-chance checking and don't use ChexSystems. Search "second chance checking account" plus your state to find options near you.

Do I need a minimum deposit to open the account?

Most banks let you open with $1 or $25. A few require $100 or more. Call the bank and ask before you go in. If you don't have the minimum, ask if they have a different account type with a lower opening deposit.

What happens if I close the account later?

You can close a checking account anytime by calling the bank or visiting a branch. Move your remaining balance to another account first. The bank will close it and send you any final paperwork. There's usually no fee to close.

Should I pick a big national bank or a smaller local one?

Big banks have more branches and ATMs everywhere, which is useful if you travel. Smaller banks and credit unions often have better customer service and lower fees. The right choice depends on your life — if you move around a lot, a big bank may be easier. If you stay in one place and want personal service, a local bank or credit union may be better.