Opening Your First Bank Account in the U.S. – What Nobody Tells You

So you want to open a bank account in America. Good move. But let me tell you what the teller won't say while you're sitting there with your passport and second form of ID.

First, watch out for monthly maintenance fees. A lot of big banks charge five to twelve bucks just for letting you keep your money there. That's insane. Look for accounts that waive the fee if you set up direct deposit or keep a minimum balance (usually around 500 bucks).

Second, you need two forms of ID. Social Security card or ITIN plus a driver's license or passport. No way around it. If you're new to the country, some banks accept a foreign passport and a utility bill with your U.S. address.

Third, not all accounts are created equal. Checking is for daily spending. Savings is for money you don't touch. And never open an account just because they give you a free toaster. Read the fine print on overdraft fees – they can hit you with thirty-five dollars for being five bucks short.

I learned this the hard way when I was nineteen. Bank of America charged me twelve dollars a month for two years before I even noticed. That's almost three hundred dollars down the drain.

Start with a credit union or an online bank like Ally or Capital One. Lower fees, better customer service. You'll thank me later.