Opening a Bank Account

Module Objectives:
A basic component in establishing financial independence is Opening a Bank Account. Banking services are essential tools for managing personal finances and building assets, as well as qualifying for and obtaining credit. Banks can help consumers manage their expenses and help them manage their money as they receive it. Opening a savings or a checking account can help you set a financial goal towards purchasing a home, a vehicle, affording college and making other major purchases

This section will help you understand the various services offered by commercial banks and management of your bank account. It will help you in making sensible decisions about choosing a bank and the types of accounts you would want to use. After completing this section you will be able to:

• Understand the basics of banking
• How to select a bank or a credit union
• Manage your checking account
• Recognize the different kinds of savings and checking accounts