How To Open A Bank Account.

How to open a bank account.
The year 2017 is a new year with some people not having a
dime for emergencies,it is not that
some people don’t wish to have some
extra savings but they don’t know
how to go about it and are too busy
to go to the various banks to ask of
the required documents needed to
open a bank account,moreover they
don’t know the types of account
available.For these reasons i will be
listing out types of prominent bank
account and documents required to
open an account..here we go
TYPES OF ACCOUNTS.
1. Savings account:this is the easiest
type of account to open,it is a type of
account that is usually encourage for
the dependents,low working class to
open as it does not require much
bank charges although with little
interest and surprisingly the bank
charges is mostly equal to the interest
rate, so don’t be surprise if your
savings seems not to be yielding
interest though this not so in most
cases..
2.Current Account:i term this type of
account the senior citizen account as
it has more advantages than the
savings account and also you pay
more commission to the banks.one of
the advantage is that you can only
make cheque deposit into a current
account,some banks also allow you to
upgrade from savings to current
account following due
processes..most people that have a
current account usually have a
savings account elsewhere therefore
this means for you to run a current
account you must be the type that is
financially buoyant
3.Fixed Time Deposit Account: as the
name implies is an account for a fixed
period of time,this is an account for
investors who wish to yield interest on
their money..there is always a binding
agreement between the customers
and the bank..this type of account is
not for everyone but for those who
are more financially buoyant they
expect ROI on their money..the fixed
deposit can run for months as so
wished by the customers.. (pls note
ROI means Returns on Investment )
Other types of account are
Domiciliary account .etc.
Documents needed to open a bank
account.
To open an account you must first
identify the one that suit your
purpose.
1 You will need to a valid,
government-issued photo ID, such
as a driver’s license or a passport.
2.You will need to provide basic
information to verify who you are,
including your name, date of
birth,electricity bill,
current address, phone number and
email address.
3. Have some money,
cash that you
can easily transfer into the new
account for the opening deposit.
A second applicant if you are opening
a joint account: Because
this type of account requires two
people, both may need to be
present to provide their
information and verify their
identities.
A parent, if you’re not 18: To
open an account, minors usually
must have a parent or legal
guardian as a co-owner who can
sign legal documents with the
bank.
Thanks for reading