If you’re paying to cash checks, buying money orders to pay bills, or keeping cash at home because a bank account feels out of reach, you’re not alone—and there’s often a safer, cheaper, and more convenient option. For millions of households, opening a bank account can be a turning point that makes everyday money tasks easier and helps protect what you earn.
Why having a bank account can make life easier
A bank account can help you:
- Keep your money protected (including federal deposit insurance at eligible banks, up to standard limits).
- Pay bills faster and more reliably, often from your phone or computer.
- Reduce costly fees you might otherwise pay for check cashing, money orders, or certain bill-payment services.
- Build a banking relationship that may help you access other services over time (like savings tools and credit options that fit your goals).
Step 1: Start with an account that matches how you actually live
If you’re opening your first account—or you want something simple—consider a “checkless” checking account. These are designed for people who don’t need paper checks and prefer to handle money digitally. With this type of account, you can typically:
- Pay with a debit card
- Manage money through online banking or a mobile app
- Pay bills electronically
These accounts can be a good entry point because they focus on everyday transactions without the added complexity of check-writing.
Step 2: Look for low-fee accounts and avoid overdraft surprises
One of the biggest worries people have is fees. The good news is that many banks offer accounts with low (or no) monthly maintenance fees, sometimes depending on things like direct deposit or keeping a minimum balance.
Also pay attention to overdraft and nonsufficient funds (NSF) fees. Some accounts are structured to reduce or eliminate these fees by not allowing transactions that exceed your available balance.
Quick checklist when comparing accounts:
- Is the money protected by federal deposit insurance?
- What are the monthly fees, and how can they be waived?
- What are the overdraft policies and fees?
- Are there ATM fees, and do you get free access to certain ATM networks?
- Do you get helpful alerts/notifications and free online bill pay?
Step 3: Consider “certified” low-cost account options
Some banks offer accounts designed specifically to be low-cost and consumer-friendly (for example, accounts that emphasize affordability and limit certain penalty fees). These can be a strong starting place if you want predictable costs and fewer fee traps.
Step 4: If you used to have an account, you can still come back
A lot of people who don’t currently have a bank account did have one in the past. If your account closed or didn’t work out before, it doesn’t mean you’re “not a bank account person.” It often just means the account wasn’t a good fit—or you weren’t given tools to succeed with it.
If you’re trying again, here are moves that help:
- Use financial education tools to rebuild confidence with budgeting, banking basics, and account management.
- Know that some banks may review your past checking account history when deciding whether to open an account. You can request copies of your checking-account report from reporting companies to check for errors or resolve old issues.
- Once you open a new account, use structured “account maintenance” habits (alerts, balance checks, bill schedules) to help keep the relationship stable.
Step 5: Protect yourself from scams and unauthorized transactions
Having a deposit account can come with important consumer protections under federal rules—especially around certain types of errors or unauthorized electronic transactions—but timing matters. If you notice suspicious activity, report it to your bank as soon as possible.
To lower your risk:
- Turn on text/email alerts for low balance, large purchases, and password changes.
- Review transactions regularly (weekly is a good rhythm).
- Treat “urgent” calls/texts demanding money or account details as a red flag—slow down and verify independently.
A simple “Get Banked” starter plan (you can do this in one afternoon)
- Pick your top priority: low fees, no overdraft, easy mobile banking, or ATM access.
- Compare a few accounts using the checklist above.
- Open the account and immediately set:
- One small automatic savings transfer (even $5–$10 per week)
- Alerts for balance and transactions
- Make a plan to avoid fees:
- Direct deposit if possible
- Keep a small buffer balance
- Don’t opt into overdraft features you don’t want