Once you start making money, a bank account is a must. Why?

  • Keeping your money in a shoe box is risky. It may be lost, stolen, or you may go crazy spending it. The safest bet is keeping it in a bank account.
  • A bank account allows you to have an ATH card to make purchases and to access your money 24/7.
  • Are you working? If you are, your company probably pays your salary through Direct Deposit. To access your money, you’ll need a bank account.
  • If you have cell phone, water, and electricity bills, you can pay them using your computer, tablet or smartphone through Mi Banco. Learn about more options to manage your money.

Checking Accounts

They allow you to deposit, withdraw, and manage your money. Pay without cash, using an ATH debit card or checks.

Electronic Account

An online account that gives you the benefits of a checking account, but frees you from papers, visiting branches, or getting statements by mail.

Savings Account

Save money for travel, a down payment for a house or car, or any other goal. When you keep a balance, you earn interest, and your savings grow.


Money helps you enjoy the lifestyle you desire. But as we’ve learned from older generations, money does not fall from the sky. You must sweat to earn it and then manage it wisely with the account that suits your needs.


Think of your account as the safe place to put your money. The bank takes care of it, but you decide when and how to spend it. The best thing is that the Federal government insures your dough up to $250,000. 1

Before opening an account, keep these things in mind:

  • Confirm if the account requires a minimum balance.
  • Find out if the account has monthly service charges. Activating certain services may prevent these fees. Confirm if you can have two accounts in one (ex. deposit and savings), and if you can make electronic transfers between them.
  • If you want a savings account, find out the interest rate. A higher interest rate means your savings will grow faster.
  • Find out if they offer an overdraft service and the terms.
  • Ask about any additional services the account offers to help you manage your money.
Antes de abrir una cuenta, considera estas características importantes

Bring everything you need to open your account

  • Social Security number.
  • A valid official ID, such as your driver’s license or passport.
  • An initial deposit using check or cash. Before visiting the branch, find out the required amount.
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