Checking/Debit Account??

Okay. So, I'm 16 years old, and I'm pretty sure I lost my class ring. It will cost around $200 to replace it, and I have $125 now. I'm plenty old enough to get a job this summer, and I plan on doing so.

I just have three questions:

1.) What is probably the best bank for me, being young, or generally a good bank? It is probably between Capital Federal of Commerce.

2.) How much does it cost to set up a checking account or debit account? Just to get it started?

3.) After getting it started, on either a checking or debit account, do you have to make additional payments? (Like with a credit card, you pay interest)

Thank you for your help. I cant really ask my parents for the money, cause they are too busy paying other bills, and I lose stuff way to often. I'm trying to be a little more responsible and financially independent, and I think this is a step in the right direction.

Class rings probably are cheesy, guys, but mine was kinda cool. And my parents already spent like $500 dollars on it, so I should probably get a new one.

i got my daughter a green dot card...she earns money , i take her to walmart, she loads the money onto it then she can use the card anywhere you use credit/debit cards, plus she can use it to buy things online. Being a debit card theres no way she can go over what she has, like you can when you use checks. It costs $8.95 to buy the card. Then to load money onto it it costs $4.95 other than that there are no other fees and you don't have a minimum amount to keep on the card.You can also get your paycheck loaded directly onto it and it doesn't even cost the $4.95. We got her card at Walmart, but there are lots of places that have them. I hope this helps!

most banks have student checking accounts. some require a like, 25 bucks to open one with, and some don't. most banks offer a free checking account. it's really easy to do, but you might have to be 18 to open one on your own. if so, you'll have to get your parent to open one for you.

1.) Any bank your parents bank at.
2.) Anywhere from free to as little as $50-$100
3.) No, you may need to keep a certain balance each month but that's it. You get to put in and take out your money as you see fit.

Now, your bank may require that your parents set the account up for you because you're a minor.

Oh and class rings? Don't bother. After high school you'll be embarrassed to wear it. I know people who stopped wearing it a week after graduating, etc. It's a waste of money, in my opinion.

1) The best bank for you is the one that's most easily accessible. If a commerical bank and a credit union are equally accessible, and you don't travel much, then the credit union is a better place to store your money.

2) It should not cost anything to set up a checking account. There is no such thing as a debit account. There is a debit card, which is linked to your checking account for point of sale purchases.

3) No. You don't owe the bank more money. A checking account is a place to hold your own money.

maybe commerce i dont think it really matters
theres no charge to open an account
no you dont make any additional payments
this is how it works say you deposit 200 dollars in your checking account and you have a debit card 200 is what you can use you cant go over

Most banks are pretty much the same. Never heard of the two you mention. Just call them or go by and ask them. There is no fee to open or maintain an account and most will do so with very little as an initial deposit.

No, you don't make payments. It is a bank account, not a bill. The bank should pay YOU each month in the form of interest - although it will only be a few cents each month on that small a balance.

I understand why you don't want to ask them for money , but theres nothing wrong with asking them for advice on which bank to choose and such, they know which banks you have in your area, while most people on Y! won't,
or
your gonna have to shop around, go to the banks in your area and ask the same questions you did here

1- whichever bank charges less fees and allows you to have something called "free checking"

2- There is no "cost" to set up a checking or debit account, however, several banks these days expect you to have direct deposit set up. Direct deposit is when you work at a job and your paycheck automatically is deposited in your account- you won't get a paper paycheck anymore. Again, there is no "cost" persay, but there are minimum deposits (like maybe $100 to start)

3- The money that comes from the checking account is YOUR money. You put it in. If there is $50 in there- then you can only spend (on a debit card) or write a check for up to $50. If you spend over the amount you have in there, they will charge you ridiculous fees that you may not be able to afford. You do not pay interest, but sometimes there are minimum daily balances required (you must average a certain dollar amount per month) otherwise you pay fees.
Some banks require you to have a savings account with a minimum balance as well, otherwise they charge fees to your checking account.

- you really should just go to the bank and talk to someone there about what the best product (what kind of checking or debit account) would be best for you.

Good luck!

1.) Citizens bank (if you have one in your area) has some great banking options for young adults.

2.) It doesnt cost a thing to open a checking account. Its your money so you can deposit as much or as little as you would like. You control your money. The bank is just like a "Piggy bank"

3.) You do not make payments. Remember, its your money so you can deposit as much or as little as you would like. You control your money.

Some motherly advice. Open up a bank account before you get that job. And when you get that job you were talking about, have your checks go "Direct Deposit". Direct Deposit is where your money automatically goes into the bank. All you will get from your employer is the check stub (that tells you how much money you made for the week, taxes that were taken out, etc...). Ask your parents or another adult or even stop into a bank one day and inquire about the type of services they offer. Shop around. Good Luck!!