Which bank should I choose for a new account?

Hm... I get the distinction between my legal residence and where I actually live. Opening accounts was a breeze, too—didn't run into any issues at all with JPMorgan Chase or Goldman Sachs. 🤷
I even mentioned to my wife that I don't actually stay at my registered address and that I have everything mailed elsewhere, and it wasn't an issue.

Honestly, sounds like you just ran into a clerk who didn't know their stuff. 😁

darkmaker94 said:Hm... I get the distinction between my legal residence and where I actually live. Opening accounts was a breeze, too—didn't run into any issues at all with JPMorgan Chase or Goldman Sachs. 🤷
I even mentioned to my wife that I don't actually stay at my registered address and that I have everything mailed elsewhere, and it wasn't an issue.

Honestly, sounds like you just ran into a clerk who didn't know their stuff. 😁

Whatever, I'll head back in a few days with more confidence and just push for it.

She’s cool though, so it’s fine. 🙏 😂

edit - okay, so she put me into the system and all that, I just need to show up with that confirmation to wrap things up. Can I just go to a different branch near me and finish the process there?

Things are a bit messy right now and I can't get my proof of residency confirmed at the moment.

I went back to JPMorgan Chase to try explaining things to another teller, but he just brushed me off rudely, saying they won't touch anything without that paperwork.

Total letdown. Does anyone know if there's a way around this? Do I seriously need those specific documents, or can I just give them my alternative address? For crying out loud... 👎

Make sure you bring along your proof of residency registration

George Barrett35 said:Make sure you bring along your proof of residency registration

I think that's pretty obvious, I just can't make it happen right now given the circumstances.
👎

I just turned 18 a few days ago.
I’m looking to open a bank account because I think it's just a smart move to have one. I do a lot of online shopping, buy things from people at local markets, and sell my own stuff too; I feel like everything would be much smoother if I had an actual account. I also use PayPal. My understanding is that I can't really use PayPal effectively without being an adult or having a linked bank account.

Which bank would you recommend I go with, and what makes it the best choice?

EDIT: I just realized there's already an open thread for this 🤦 so I'll ask the mods to move this over there.

So, I've already got a checking account set up at my bank. Now, I’m about to sign this scholarship agreement, and it looks like the provider is going to open a separate account for me at that same institution. I was just wondering, is it actually possible for one person to hold two different checking accounts at the same bank? 😕
Thanks for any insight if anyone happens to know how this works.

Arthur Booth96 said:So, I've already got a checking account set up at my bank. Now, I’m about to sign this scholarship agreement, and it looks like the provider is going to open a separate account for me at that same institution. I was just wondering, is it actually possible for one person to hold two different checking accounts at the same bank? 😕
Thanks for any insight if anyone happens to know how this works.

No, not at the same bank.

Just give them the routing and account numbers for the one you already have, and that should be enough to settle things.

Besides, since you're the only one with the legal authority to open a bank account, no one else can just go out and open one in your name anyway.

Gerald Palmer66 said:No, not at the same bank.

Just give them the routing and account numbers for the one you already have, and that should be enough to settle things.

Besides, since you're the only one with the legal authority to open a bank account, no one else can just go out and open one in your name anyway.

How could that be impossible? I mean, I’ve already gone through the whole process of signing scholarship contracts for a few different grants, and then, about ten days later, I just showed up at the bank to pick up my debit card. It's pretty straightforward, I guess. 🤷

Arthur Booth96 said:How could that be impossible? I mean, I’ve already gone through the whole process of signing scholarship contracts for a few different grants, and then, about ten days later, I just showed up at the bank to pick up my debit card. It's pretty straightforward, I guess. 🤷

Well, in that specific scenario, they are technically the account holders, while you're essentially just acting as an authorized representative.
in that case.

Gerald Palmer66 said:Well, in that specific scenario, they are technically the account holders, while you're essentially just acting as an authorized representative.
in that case.

So, I guess if that's the deal, I could potentially have my own checking account while also being listed as an authorized user on someone else's account at the same bank? thanks for clarifying. 🙂

Arthur Booth96 said:So, I guess if that's the deal, I could potentially have my own checking account while also being listed as an authorized user on someone else's account at the same bank? thanks for clarifying. 🙂

Yes, you certainly can.
Please, 😁

Wells Fargo fees for account maintenance and online banking services $4.75/mo. Back in January, this "pleasure" cost just $7.25/mo—which means it's 56% more expensive now. Seriously, don't even think about opening an account there. 😬

I'm not even looking at checking accounts, just a basic savings 😁
and honestly, I think it's about 56% more expensive rather than 67 :P

You can't just stack up open checking accounts like they're trading cards, whether it's at one bank or spread across several different ones.

The account your scholarship provider sets up belongs entirely to you; it isn't some kind of power of attorney arrangement.
When you sign that scholarship agreement, you're essentially authorizing the provider to open an account on your behalf, which means you really ought to have informed them about any existing accounts you already hold, unless, of course, you plan on closing the old one first.

George Barrett35 said:You can't just stack up open checking accounts like they're trading cards, whether it's at one bank or spread across several different ones.

The account your scholarship provider sets up belongs entirely to you; it isn't some kind of power of attorney arrangement.
When you sign that scholarship agreement, you're essentially authorizing the provider to open an account on your behalf, which means you really ought to have informed them about any existing accounts you already hold, unless, of course, you plan on closing the old one first.

So, how am I supposed to handle this now? I mean, I’ve had accounts open at both Chase and Bank of America for over a year, so I guess I'm just a bit lost on what happens next.🤷

I guess I’m wondering if there’s an actual official handbook or some kind of formal regulation somewhere I can dig into for the specifics, mostly because everyone seems to have their own version of the truth and I'm getting wildly different stories from just about everyone.

Gerald Palmer66 said:Well, in that specific scenario, they are technically the account holders, while you're essentially just acting as an authorized representative.
in that case.

That’s incorrect. I was receiving a federal grant. They may have opened the account, but I am the owner—no one else has authorization to use it. 😉

Kate Foster12 said:That’s incorrect. I was receiving a federal grant. They may have opened the account, but I am the owner—no one else has authorization to use it. 😉

Wait, hold on—an account is opened based on a legal contract between you and the bank, so how would anyone else even be able to open *your* account?

vividranger8 said:Wait, hold on—an account is opened based on a legal contract between you and the bank, so how would anyone else even be able to open *your* account?

Look, I signed a contract for a scholarship and my account was set up automatically. I didn't even go down to Chase to open it myself.

Kate Foster12 said:Look, I signed a contract for a scholarship and my account was set up automatically. I didn't even go down to Chase to open it myself.

The reality is that nobody can open an account on your behalf except you.
Plus, there isn't really a limit on how many different checking accounts you can hold across various banks.