I am 18 years old and I start college in January. I need a bank account for my financial aid, but I have no job and I have never really had to handle large amounts of money at one time. and I am very confused should I get a savings too I dont know. My mother told me that my name is on her account but I could think I should get my own account we use wells fargoAlso If you could recommend any banks to check out or any help at all thank you I live in GA if that helpsWhat should I do first
First understand that choosing a bank should be done with care. Don't just go and open a bank account account without first becoming bank literate. You can lose a lot of your money if you don't understand the banking business. Banks are in business to make money and they do make a lot of money from individuals that don't take the time out to research such things as their fees and charges. Banks have fees and charges that can eat up your money very fast. Second, Go visit a few different banks and ask them to explain to you the following things: Banking Fees such as ATM Charges, Debit Card Fees, Insufficient Fund Fees, and any other fees and charges they might charge you. Ask them how you can avoid those fees and charges. Once you know a little about their charges and fees you will feel a little more comfortable with opening up an account and will have a more positive experience with them.
Just go down to the bank and ask the banker what sort of account you should open there.
I would avoid wells fargo or any private banks, the fees and crap bulk mail they distribute is insane. I was with wells, it was a hassle. I am with a credit union, practically no fees, and better customer service. anyways you should get a checking account. look for an account with little to no fees. and make sure you get overdraft protection it's important!
