What do you need to open a new bank account?

To open a new bank account, you need to provide the bank with your Social Security number, driver's license and the minimum deposit amount. The minimum deposit amount varies from bank to bank.

When opening a new bank account, it's important to think about your financial needs. A savings account is good for people who are looking for a way to save money, and some banks add to your savings account depending on how much you are depositing. A checking account is good for people who need quick access to their money or people who want to pay bills online.