Use these savings account tips to better understand how to manage a savings account.
Opening a savings account
Compare rates and services at different banks before opening a savings account to decide which account best meets your needs.
To open a savings account:
- Visit the financial institution of your choice, and speak to a customer service agent about opening a savings account.
- Two forms of identification, including one with a picture
- Your Social Security Number
- Money for your first deposit, which can be cash or a check
- Be prepared to fill out information on a signature card that will remain on file at the bank. The bank uses the card to verify the signature on checks that bear your name. Signature cards typically include:
- Your name
- Your current address and length of time at the address
- Your previous address and length of time at that address
- The type of account, such as single or joint
- Your signature
- Once your account is approved, you can make your first deposit.
Save money regularly so you will be better prepared to deal with an emergency and achieve your financial goals.