--- title: Opening Your First Checking Account description: Your path to adulthood includes many firsts - many of them financial. Here's what you need to know about opening your first checking account. image: https://go.hfcu.org/hubfs/Your%20First%20Checking%20Account%20An%20Important%20Step%20on%20the%20Path%20to%20Adulthood.png --- [![MoneyWisdom_HFCU_r2](https://go.hfcu.org/hs-fs/hubfs/MoneyWisdom_HFCU_r2.png?width=464&name=MoneyWisdom_HFCU_r2.png "MoneyWisdom_HFCU_r2")](https://go.hfcu.org/blog) Filter by Category** - [Show All](https://go.hfcu.org/blog) - [Security](https://go.hfcu.org/blog/topic/security) - [Personal Finance](https://go.hfcu.org/blog/topic/personal-finance) - [Auto](https://go.hfcu.org/blog/topic/auto) - [Business](https://go.hfcu.org/blog/topic/business) - [Credit Score](https://go.hfcu.org/blog/topic/credit-score) - [Home](https://go.hfcu.org/blog/topic/home) - [Credit Cards](https://go.hfcu.org/blog/topic/credit-cards) - [Life Changes](https://go.hfcu.org/blog/topic/life-changes) - [Insurance](https://go.hfcu.org/blog/topic/insurance) - [Investments](https://go.hfcu.org/blog/topic/investments) Filter by Category** - 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[dormant account (1)](https://go.hfcu.org/blog/topic/dormant-account) - [inactive account (1)](https://go.hfcu.org/blog/topic/inactive-account) # Opening Your First Checking Account ** [Hanscom Federal Credit Union](https://go.hfcu.org/blog/author/hanscom-federal-credit-union) ** Jan 25, 2023 ![A young Asian girl counts up her earnings from her first lemonade stand. ](https://go.hfcu.org/hubfs/Your%20First%20Checking%20Account%20An%20Important%20Step%20on%20the%20Path%20to%20Adulthood.png) There are several milestones associated with growing up and becoming an adult. Getting your driver’s license. Registering to vote. Graduating high school. There’s another noteworthy event, too: [**opening your first checking account**](https://www.hfcu.org/bank/checking-accounts/checking-accounts-and-services.html). Why is this such a big deal? Because it probably represents the first time in your life that you’re solely in charge of your money. This is an exciting step toward independence and a test of how financially responsible you can be. To help you pass that test with flying colors, we’ve got some great advice for new checking account holders. 1. The **best time to open your first checking account is probably when you get your first part-time job** and are still living at home. At this time in your life, chances are you have very few financial responsibilities, so it’s a great time to learn how to handle your money properly. You’ll have the luxury of slowly learning how to manage your money, so that [when you leave home for college](https://go.hfcu.org/blog/financial-advice-for-your-college-bound-student) or a full-time job, you’ll be comfortable being in control of your finances. 2. If you’re younger than 18, you can get a checking account at the credit union with a parent or legal guardian as a co-signer. (If you’re 18+, you can do it all on your own.) A checking account is the safest and most convenient way to manage your money. You can pay bills online (when you get them!), check your balance and easily move money to and from a savings account. Best of all, most **employers offer [direct deposit](https://www.hfcu.org/checking-and-savings/direct-deposit.html)** **for your paycheck,** making the money available immediately. You’ll never have to worry about depositing your check or waiting for it to come in the mail. 3. Know this: though it’s called a “checking” account, chances are you’ll actually write very few checks. A checkbook can still come in handy if you need to pay rent or someone in person, so be sure to ask someone how to write a check so you’ll know how should you ever need to. 4. Most of your banking will be done with **debit cards and [online banking](https://www.hfcu.org/account-access/online-banking.html)** so you can pay bills and send money to friends and family members with just a few clicks. And, of course, you can deposit checks to your account just by taking a picture of them with your phone. 5. The debit card you’ll receive is probably your most valuable tool. When you use this to purchase things, the **money comes directly out of your checking account** (unlike a credit card where you don’t have to actually pay for your purchases until your bill comes once each month). Be sure to **keep track of what you spend** by using the online banking feature on either your computer or mobile phone. You an also set up alerts** **so you’ll know if your balance ever dips below a set level. There are a few things to beware of with your checking account:  - **Minimum Balance Requirements** — If there is one and you go below it, you may get charged a hefty fee. Look for an account without this! - **The ATM Network** — [**Only use in-network ATMs**](https://go.hfcu.org/blog/the-best-way-to-avoid-atm-fees) so you won’t get charged a fee when you need to withdraw money at an ATM. Click [here](https://www.hfcu.org/account-access/locations.html) to find where all the surcharge-free ATMs associated with the credit union (there are thousands of them!) are nationwide.  - **Overdraft** — [Overdrafting](https://www.hfcu.org/search.html?q=overdraft+protection) your account is when you spend more money than you have. There are two basic ways to set up your checking account: If you get **overdraft protection**, your credit union or bank will pay for your purchases even if you don’t have the money to cover them and charge you a small fee. If you don’t get the protection, your purchase won’t go through (which can be kind of embarrassing), the transaction is considered “non-sufficient funds” (NSF) or a “bounced check,” and you’ll be hit with a fee from both your credit union AND the business where you made the purchase. Overdrafts can be VERY costly! Getting a checking account will help you learn how to manage your money. It will teach you how to be mindful of what you’re spending, the importance of setting up a budget, and how to plan and save for big purchases. Be sure to do a little research to help you decide which account, and features, will work best for you.   [![Learn More About Hanscom FCU Checking Accounts](https://no-cache.hubspot.com/cta/default/118438/1af0643f-fd34-4ca5-bcd2-8d20d2e2231f.png)](https://cta-redirect.hubspot.com/cta/redirect/118438/1af0643f-fd34-4ca5-bcd2-8d20d2e2231f)   *Others are reading:* - [4 Best Practices To Protect Your Online Access HD Account](https://go.hfcu.org/blog/4-best-practices-to-protect-your-online-access-hd-account) - [Protect Yourself From Identity Theft](https://go.hfcu.org/blog/security) - [Why Are Credit Union Rates Better?](https://go.hfcu.org/blog/credit-union-rates) - [How Direct Deposit Can Help You Get Your Money Faster](https://go.hfcu.org/blog/how-direct-deposit-can-help-you-get-your-money-faster) - [Make Smart Financial Moves: 4 Habits That Will Save You Money](https://go.hfcu.org/blog/smart-money-moves-4-habits) ** [Personal Finance](https://go.hfcu.org/blog/topic/personal-finance), [Checking](https://go.hfcu.org/blog/topic/checking) [** How to Stop Impulse Spending ](https://go.hfcu.org/blog/how-to-stop-impulse-spending) [** 5 Ways to Cash Your First Payroll Check ](https://go.hfcu.org/blog/5-ways-to-cash-your-first-payroll-check) ### About Author ![Hanscom Federal Credit Union](https://go.hfcu.org/hubfs/HFCU-Profile-1000x1000.jpg) Hanscom Federal Credit Union Hanscom Federal Credit Union, a purpose-driven $1.9 billion organization based in Littleton, MA, empowers its members to achieve financial wellness. Hanscom FCU serves over 95,000 members across the country and overseas through 16 branches, over 100,000 surcharge-free ATMs, 5,000 contact centers, and a web-based branch. Related Posts [![Navigating Financial Challenges After a Job Loss](https://go.hfcu.org/hubfs/iStock-1444494544.jpg) Navigating Financial Challenges After a Job Loss ](https://go.hfcu.org/blog/job-loss) [![Three Tips to Build a Financial Safety Net](https://go.hfcu.org/hubfs/2-2.png) Three Tips to Build a Financial Safety Net ](https://go.hfcu.org/blog/safety-net) [![The Benefits of Setting Up Direct Deposits](https://go.hfcu.org/hubfs/young%20woman%20paying%20bills%20on%20couch-1.png) The Benefits of Setting Up Direct Deposits ](https://go.hfcu.org/blog/the-benefits-of-setting-up-direct-deposits) ** - [**](http://www.facebook.com/share.php?u=https://go.hfcu.org/blog/an-important-step-on-the-path-to-adulthood-your-first-checking-account/) - [**](https://X.com/share?url=https://go.hfcu.org/blog/an-important-step-on-the-path-to-adulthood-your-first-checking-account/) - [**](http://www.linkedin.com/shareArticle?mini=true&url=https://go.hfcu.org/blog/an-important-step-on-the-path-to-adulthood-your-first-checking-account/&summary=&source=CeBIT) ## You are Leaving Hanscom Federal Credit Union #### **Please read the following before proceeding to:** The website you are about to visit is solely the responsibility of the merchant or other party providing the site. 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Any transactions that you enter into with a vendor, merchant or other party that you access through this third-party site are solely between you and that vendor, merchant or other party. The Credit Union does not endorse the content contained in this third-party site, nor the organization publishing the site, and hereby disclaims any responsibility for such content. The Credit Union Privacy Policy does not apply to this third-party site, and for further information you should consult the privacy disclosures of the third-party site. ## You are Leaving Hanscom Federal Credit Union #### **Please read the following before proceeding to:** ### https://X.com/HanscomFCU The website you are about to visit is solely the responsibility of the merchant or other party providing the site. The content of this third-party site, including materials and information, is solely the responsibility of the provider of the site. The Credit Union is not responsible for any such third-party content. Any transactions that you enter into with a vendor, merchant or other party that you access through this third-party site are solely between you and that vendor, merchant or other party. The Credit Union does not endorse the content contained in this third-party site, nor the organization publishing the site, and hereby disclaims any responsibility for such content. The Credit Union Privacy Policy does not apply to this third-party site, and for further information you should consult the privacy disclosures of the third-party site. ## You are Leaving Hanscom Federal Credit Union #### **Please read the following before proceeding to:** ### https://www.instagram.com/hanscomfcu/ The website you are about to visit is solely the responsibility of the merchant or other party providing the site. The content of this third-party site, including materials and information, is solely the responsibility of the provider of the site. The Credit Union is not responsible for any such third-party content. Any transactions that you enter into with a vendor, merchant or other party that you access through this third-party site are solely between you and that vendor, merchant or other party. The Credit Union does not endorse the content contained in this third-party site, nor the organization publishing the site, and hereby disclaims any responsibility for such content. The Credit Union Privacy Policy does not apply to this third-party site, and for further information you should consult the privacy disclosures of the third-party site. ## You are Leaving Hanscom Federal Credit Union #### **Please read the following before proceeding to:** ### https://www.linkedin.com/company/hanscomfcu/ The website you are about to visit is solely the responsibility of the merchant or other party providing the site. The content of this third-party site, including materials and information, is solely the responsibility of the provider of the site. The Credit Union is not responsible for any such third-party content. Any transactions that you enter into with a vendor, merchant or other party that you access through this third-party site are solely between you and that vendor, merchant or other party. The Credit Union does not endorse the content contained in this third-party site, nor the organization publishing the site, and hereby disclaims any responsibility for such content. 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The Credit Union does not endorse the content contained in this third-party site, nor the organization publishing the site, and hereby disclaims any responsibility for such content. The Credit Union Privacy Policy does not apply to this third-party site, and for further information you should consult the privacy disclosures of the third-party site. ### Popular Posts [What You Need to Know About Putting Your Home in a Trust](https://go.hfcu.org/blog/what-you-need-to-know-about-putting-your-home-in-a-trust) ![older man looking at top retirement worry on digital device](https://go.hfcu.org/hubfs/Untitled%20design%20-%202022-02-10T072804.753.jpg) [What You Need to Know About Your Federal Tax Bracket](https://go.hfcu.org/blog/what-you-need-to-know-about-your-tax-bracket) ![older man looking at top retirement worry on digital device](https://go.hfcu.org/hubfs/Untitled%20design%20-%202021-03-22T123305.900.jpg) [6 Boat Types to Get on the Water](https://go.hfcu.org/blog/6-boat-types-to-get-on-the-water) ![older man looking at top retirement worry on digital device](https://go.hfcu.org/hubfs/images/Jet_Ski.jpg) [23 Organizations Dedicated to the Needs of Seniors](https://go.hfcu.org/blog/23-organizations-dedicated-to-the-needs-of-seniors) ![older man looking at top retirement worry on digital device](https://go.hfcu.org/hubfs/Senior%20citizens.jpg) [9 Smart Moves for Lottery Winners](https://go.hfcu.org/blog/lottery) ![older man looking at top retirement worry on digital device](https://go.hfcu.org/hubfs/images/lottery_winner.jpg) ### Recent Posts - [![National Credit Union Administration](https://go.hfcu.org/hs-fs/hubfs/NCUA-logo-small.png?width=95&name=NCUA-logo-small.png) ](https://www.ncua.gov/) [![Equal Housing Lender](https://go.hfcu.org/hs-fs/hubfs/EHL-logo-small.png?width=65&name=EHL-logo-small.png)](https://www.hud.gov/fairhousing) - @ 2023 [Hanscom Federal Credit Union](https://www.hfcu.org/) - Federally insured by the National Credit Union Administration. - [Privacy Policy](https://www.hfcu.org/content/docs/Privacy_Notice.pdf) **Disclosure:** Hanscom Federal Credit Union does not provide and is not responsible for any products, services, or overall website content available at any third-party sites linked within this blog. Moreover, Hanscom Federal Credit Union's privacy policies do not apply to any of the linked websites within this blog. Please consult the privacy disclosures on those linked sites for further information. ```json { "@context" : "http://schema.org", "@type" : "BlogPosting", "author" : { "@type" : "Person", "name" : "Hanscom Federal Credit Union" }, "dateModified" : "January 31, 2024, 6:52:01 PM", "datePublished" : "2023-01-25 13:00:00", "description" : "Your path to adulthood includes many firsts - many of them financial. Here's what you need to know about opening your first checking account. 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