It saves you money.
What could you do with an extra $800 in your pocket? Folks who use check cashers can spend $800 a year to get their money. Using check cashers may seem more convenient than having a checking account at a bank, but these services cost much more. Check cashing stores charge up to 5% of your check… just to cash it. If you are cashing a $250 check, it would cost you $12.50. Cashing two checks a month with a check cashing company would cost you 5 times more in fees than having a checking account with a bank or credit union. If you purchase money orders often, the costs of those add up as well.
Without an account at a bank or credit union to keep your money safe, you and your family could easily lose your money to theft, or fire. Money deposited into a bank or credit union is protected by the Federal government – insured by the Federal Deposit Insurance Corporation (FDIC). In fact, up to $250,000 of your money is protected. Just like health, car and homeowner’s insurance, banks and credit unions are required to be federally insured to protect your money.
It helps you save for the future.
Do you want to own a home one day? What about starting your own business or going back to school? Having a checking or savings account makes it much easier to save your money and reach your financial goals.
Banking is safe, cheap, and opens doors to financial opportunities.
How to Open a Bank Account
Call 2-1-1 and ask about how to open a Bank on Savannah bank account
Choose a participating bank and contact the bank by visiting a branch near you or giving the bank a call.
When you decide to open a Bank on Savannah bank account, make sure to bring a form of identification. You’ll need a Social Security number or an Individual Taxpayer Identification Number (ITIN) and one of the following:
- A valid passport
- Driver’s License
- Georgia ID
- Mexican Matricula Consular Card