Opening a Bank Account

One of the first things Rohan did after moving to the US was open a bank account. He walked into a branch near his office and told an employee he wanted to open a checking account. She asked for his ID, his Social Security number, and a small deposit to get started.

She explained the difference between a checking account, which he would use for daily spending, and a savings account, which would earn a little interest over time. She also showed him how to set up direct deposit so his paycheck would land in his account automatically.

Before he left, she helped him download the bank's app and activate his debit card. She warned him to watch out for overdraft fees and to keep track of his balance. Rohan felt good knowing his money was finally in one safe, organized place.