How To Manage Your First Bank Account

Research multiple banks and the accounts they offer until you find one that’s right for you.

Make your first deposit. Your bank may require a minimum amount to open the account or a minimum balance that must be maintained to avoid fees.

Know the fees banks often charge for such items as dipping below a minimum balance, writing too many checks, or using another bank’s ATM machine. Don’t be caught off guard by extra charges; avoid them when you can.

Do not share your banking PIN with anyone, or let others use your checkbook.

Balance your checkbook on a regular basis. Save receipts, keep track of transactions, and record them into your checking ledger at the end of each day or week.

Make sure you reconcile your checking ledger and your bank statement each month. Sort out any discrepancies by reviewing your purchases or contacting the bank.