A Bank Account is something that everyone must have right now. Some years ago such thing didnt exist but now with all the new hi-tech machines and computers, I estimate that about 20 years from now there will be no more hard cold cash. We will be able to move our bank account just using our iPhone or any other mobile phone. So as you see a person without a bank account is worth nothing at all.

What are the requirements to open a bank account? you must be legal on that country. An ilegal immigrant can immediately forget about having one. We will have to work and be paid by cash and submit himself to the hardest and worst paid job in the world. Get legal man!

You must have a clean criminal record. Some bank refuse to open new accounts to criminals even after leaving the prison. However some bank can open them an account under special conditions. In such condition you'd better raise you social status quickly to get the bank's trust on you!

You must have you I.D. Card. They must see your name, photos and signature. Many people buy false I.D.'s and if the bank suspects of such thing, they immediately investigate the situation even without the knowledge or consent of the costumer or client.

You must have your social security card or number with you. Yes uncle Sam wants half of what you earn to pay to the army to make War and to pay to their politicians. You cant argue man.

You must have some cash with you. Money is what makes the world go round so I bet you wont be able to open an account with little or no money. Thats life.

After opening a bank account you must move the account often. I mean, the account must be active otherwise the bank will not trust you so much for credit and loans. At least in my country.

Having a bank account enables you to get a credit card to shop online or even use money in advance. However the credit card limit is limited by how long you are a costumer of that bank, how much money you have in your account, how much you earn and your credit history. Banks have to protect themselves from fraudulent people.

Finally having a bank account is the safest place to save a lot of money. Unless the bank or the entire system bankrupts, your monwy will never be touched, lost or stolen and will always be safe from everyone. Dont worry.

Open you account now!

Learn more about this author, Pedro Pacheco.
Click here to send author comments or questions.

---

Add your voice

Know something about The basics of having a bank account?
We want to hear your view. Write now!