Opening a savings account

AlexNow see how easy it is to open a savings account. Just follow these three easy steps!
 

Step one

Gather the things you’ll need. It’s best to have a parent or guardian to help you open an account. The parent or guardian can co-sign your account, which means that they’ll sponsor you. As co-signers, they’ll need to bring two forms of current photo ID. If they only have one piece of photo ID, their second ID may be a current major credit card or gas card.

Read through this list of items you’ll need when you open a savings account.

A parent or guardian must accompany a person under 18 and must bring 2 forms of current photo ID, including:

  • Driver’s license or State ID
  • Passport
  • U.S. Military ID
  • Alien Registration card
  • Matricula Consular card

OR 

  • Bring 1 item from the above list and a major credit card or gas card.

AlexAs for you, you’ll probably need one piece of current ID with your picture on it, such as a student ID, or a passport. You’ll also need your social security number.

You may be asked to provide 1 of the following current IDs with photo, such as:

  • Student ID
  • Passport

Plus

  • Social Security number or individual tax ID number (ITIN)
  • Money to deposit — ask if there’s a minimum.

AlexID requirements can vary from bank to bank, so be sure to ask your bank what forms of ID they require for you and your co-signer.

Bank requirements vary, so ask your local bank what they require.

Step two

AlexNow, comes step two. Go online or visit the bank to help you choose an account. A regular savings account will probably be what you need, but you can ask the bank to suggest an account that’s right for you. There may even be a special account just for teens! Be sure to find out how much money you’ll need to open your account.

Step three

You’ve got your money, and you’ve got your IDs — now go open your account! Simple, right?

Click the Next button to learn about making a savings account deposit.