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Everything You Need To Open Your Checking Account

1/7/25


A checking account acts as the base camp for most people’s everyday financial activity. It’s the place where paychecks are deposited, cash is withdrawn, bills are paid, and purchases are made through linked debit cards. If you don’t already have a checking account, then you’re missing out on an efficient, secure, and convenient way to manage your daily transactions. 

Keep reading to find out what you need to open a checking account and why it will be worth your while to do so.

WHAT DO YOU NEED TO OPEN A CHECKING ACCOUNT?

There are a few important items you should collect in advance before heading to a credit union or bank to open a checking account.

1. GATHER YOUR DOCUMENTS

While required documentation will vary slightly between credit unions and banks the following are almost always necessary to provide when opening a checking account:

  • Proof of Identity: This could be a valid government-issued ID such as a driver's license or passport.

  • Proof of Address: If your current address is different from the address on your government-issued ID, you may need to bring proof of address. A piece of mail with your address on it—such as a utility bill, property tax bill, mortgage statement, or pay stub—are good options.

  • Social Security Number: Most institutions are required to have your social security number on file, so be ready to provide it.

  • Proof of Age: You must be 18 years or older to open a checking account on your own. Your government-issued ID can provide this proof for you.

2. CHECK ELIGIBILITY REQUIREMENTS

If you’re looking to open a checking account at a credit union, be sure to check the eligibility requirements first. At Texans Credit Union, anyone who lives, works, or attends school in the state of Texas is eligible for membership. Plus, immediate family of a current member or any employee who works for a Texans Preferred Business is eligible as well.

3. COMPLETE THE APPLICATION

With your documentation ready, you can either complete an application online or in person at a branch

4. OPENING DEPOSIT

An initial deposit is typically required to open a checking account. At Texans Credit Union, the minimum opening deposit is just $5! 

WHAT ELSE SHOULD I KNOW?

Many different types of checking accounts are available, so before you open one, you should do a little research to determine which features and benefits are most relevant to your spending patterns and financial goals. The following are some considerations to evaluate in advance.

MONTHLY MAINTENANCE FEES

Many institutions will charge a monthly maintenance fee, so be sure that you can afford this amount. Ideally, you want an account with no monthly maintenance fee or a very low one because you want as much money to remain in your account as possible!

MINIMUM BALANCE REQUIREMENT

Sometimes financial institutions require that you keep a minimum balance in your account every month. If you dip below that number, they may charge a fee to your account. Depending on your spending habits, you might be better off with an account with no minimum balance, or at least a lower one.

DIGITAL BANKING TOOLS

Many of us live an on-the-go lifestyle, which makes digital banking a top priority. If this is your case, look for user-friendly digital banking features and a highly-rated mobile app. 

At Texans Credit Union, we pride ourselves on providing excellent digital banking tools, including a phenomenal mobile app, through which you can view account balances, deposit checks, transfer funds, pay bills, and more—without ever having to visit a branch!

ATM ACCESSIBILITY

This might sound obvious but—you don’t want to have to pay money to withdraw money from an ATM! Many institutions will charge a fee, usually between $3 to $5 when you withdraw cash from an out-of-network ATM. 

Get access to 80,000+ ATMs—with no fees charged. Plus, Texans Credit Union is part of the CO-OP Shared Branching Network, giving you access to your accounts in-branch at participating credit unions across 50 states.  

DIRECT DEPOSIT

When you set up direct deposit, you don’t need to take your paycheck to a branch to deposit it in person, because it will be deposited in your account electronically. What’s more, at Texans Credit Union, you’ll get paid a day early—it’s your hard-earned money, after all! 

OVERDRAFT PROTECTION

Many checking accounts offer overdraft protection, which automatically transfers funds from a linked savings account or personal line of credit should you accidentally spend more than your available balance. Overdraft protection can help you avoid unwanted fees if you overdraw your account.

SENDING MONEY

Need to shoot some cash to a friend who covered your share of dinner or pay back your sister for that mani-pedi? Once you register for Zelle in your Texans CU Mobile App, you can easily send or receive money directly to your checking account from friends, family, and other trusted sources.

FEDERAL INSURANCE

Make sure the financial institution you choose is backed by the federal government. When you open a checking account with Texans, your money is federally insured up to $250,000 by the National Credit Union Administration (NCUA). While most institutions have this coverage, verify in advance for your peace of mind.

WHY CHOOSE A CHECKING ACCOUNT WITH TEXANS CREDIT UNION?

Now that you know what you need to open a checking account and the features you should look for when choosing one—discover why Texans Credit Union’s checking accounts rise above the rest. 

Texans are unique, which is why we offer two types of checking accounts to suit the different lifestyles of our members. Our most popular account, My Texans Checking, makes checking as sweet as your grandma’s iced tea, offering:

  • User-friendly digital and mobile banking services, including mobile deposit
  • Direct deposit, with your hard-earned cash available a day early
  • A Visa® debit card that can be used to withdraw cash from 80,000+ surcharge-free ATMs nationwide
  • Zelle, for quick and secure transactions between friends and family
  • Overdraft protection, to help you avoid fees if you spend more than your balance
  • Free notary services 

But if you’re looking to earn some interest on the balance in your checking account, then My Texans Interest Checking might be more up your alley. This account offers the same features as My Texas Checking, but you can earn dividends when you maintain a minimum daily balance of $2,500.

This account also provides one free box of checks per year, one free cashier’s check per month, and free notary service.

 

So what are you waiting for? Just click the button below to get started!

OPEN YOUR ACCOUNT

 

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