Whether you’re ready to open your first checking account or hoping to start over with a new bank, you need to know how to open and manage your new account. Magnolia Bank offers a variety of banking services in Hodgenville, KY, including free checking accounts. Here, their staff offers some valuable tips on opening and managing your new account.

How to Open a Checking Account

Opening a checking account is easy; you will need to have a valid form of ID, such as your driver’s license. Your bank’s representative will ask you for personal information, including your full name, date of birth, address, and your social security number. They will pull your credit report before approving your new account. You may be asked to provide an initial deposit. Before you leave the bank that day, you should receive your account numbers and login information.

How to Manage Your Checking Account

When you open your new checking account, you should order a debit card for it. This allows you to withdraw cash from the ATM and make purchases. When you use your debit card, the money comes directly out of your checking account, so it’s important to keep track of your balance.

When you check your statement or balance through online banking, you will only see which transactions have already cleared. You may have less money available if you have outstanding checks that haven’t been cashed yet. Keeping track of your spending and reconciling your account is necessary to avoid spending too much or being charged with overdraft fees.

Would you like to open a new checking account? Give the friendly staff at Magnolia Bank a call at (270) 358-3183 or come to one of their three locations in Kentucky. Mobile banking is available for your convenience. Visit the website to find out more about the different types of checking accounts that are available.