Skip to main content

Bitches Get Riches

  • Home
  • ALL ARTICLES
  • Ask the Bitches
  • Shop Merch

Tag: unbanked

How the Hell Does One Open a Bank Account? Asking for a Friend

How the Hell Does One Open a Bank Account? Asking for a Friend.

November 11, 2019June 3, 2022 Piggy 10 Comments

When I was about thirteen or so, my mom brought me down to the local branch of the regional bank and helped me set up my first checking account. I had diligently saved $100 of my babysitting money, which I deposited in my brand new checking account.

And suddenly, I was an individual with a bank! I had the ability to deposit and withdraw cash from that account. I could use my debit card to buy things with the money in that account. And I could transfer money from that account to others as I grew older and my financial needs expanded. When I got my first jobs, my employers could automatically deposit my paychecks directly into that account. Heckin’ magical.

I thought this was a pretty damn normal step toward adulthood. So imagine my surprise when I learned, years later, that not everyone goes through the rite of passage of opening a bank account when they’re young. Or at all.

There are, in fact, 17 million American adults who do not have a bank account of any kind. These individuals are known as the unbanked. The unbanked or underbanked represent 25% of U.S. households. And while many of them choose to be unbanked for various legitimate reasons (a distrust of financial institutions, for example), many of them are unbanked because of circumstances beyond their control (an inability to open an account due to legal status, or an inability to maintain minimum balances due to long-term poverty, for example).

Having a bank account is important and useful. So allow your beloved Internet auntie to take you under her downy, cloud-like snow goose wing and walk you through everything you need to know about how and why to open your very first bank account!

Read More

Join Our Team

This site is pay-what-you-can. If you’ve changed your life for the better by following our advice, gift a little back to us because we helped you (fo' free!) when you needed it most.

Give back on Patreon

See More on YouTube


New Posts in Your Inbox

Just articles. No lame bullshit. Pinkie swear.


Follow Us

  • Patreon
  • YouTube
  • Twitter
  • Pinterest
  • Tumblr
  • Instagram
  • RSS Feed

Popular Right Now

  • 6 Lessons YOU Can Learn from the Silicon Valley Bank Crash
    6 Lessons YOU Can Learn from the Silicon Valley Bank Crash
  • Here’s What to Do With Those Credit Card Pre-approval Offers You Get in the Mail
    Here’s What to Do With Those Credit Card Pre-approval Offers You Get in the Mail
  • The Real Story of How I Paid off My Mortgage Early in 4 Years
    The Real Story of How I Paid off My Mortgage Early in 4 Years
  • 21 Ideas for Sustainable Swaps That Aren’t Shitty, Expensive, Greenwashed Garbage
    21 Ideas for Sustainable Swaps That Aren’t Shitty, Expensive, Greenwashed Garbage
  • The Resignation Checklist: 25 Sneaky Ways To Bleed Your Employer Dry Before Quitting
    The Resignation Checklist: 25 Sneaky Ways To Bleed Your Employer Dry Before Quitting
  • I Was Happy to Marry a Poor Man. Then Things Changed.
    I Was Happy to Marry a Poor Man. Then Things Changed.
  • Cheat on Your Bank—It's Not Your Girlfriend
    Cheat on Your Bank—It's Not Your Girlfriend
  • 3 Legal Documents You Need NOW and Where To Get Them Online for Cheap
    3 Legal Documents You Need NOW and Where To Get Them Online for Cheap
  • Ask the Bitches: "I Just Turned 18 and My Parents Are Kicking Me Out. How Do I Brace Myself?"
    Ask the Bitches: "I Just Turned 18 and My Parents Are Kicking Me Out. How Do I Brace Myself?"
  • Leaving Home before 18: A Practical Guide for Cast-Offs, Runaways, and Everybody in Between
    Leaving Home before 18: A Practical Guide for Cast-Offs, Runaways, and Everybody in Between

Categories

  • Apartments & Houses
  • Ask the Bitches
  • BGR Podcast Episodes
  • Cars & Transportation
  • Credit
  • Debt
  • Emergency Funds
  • Goals & Mindset
  • Investing
  • Jobs & Careers
  • Life Skills
  • Lol
  • Making More
  • Pets
  • Relationships
  • Retirement
  • Reviews
  • Saving
  • Social Issues
  • Spending Less
  • Uncategorized
  • Wellness

  • YouTube
  • Twitter
  • Tumblr
  • Pinterest
  • Instagram
  • About the Bitches
  • The Bitch List
  • Legal
  • Contact Us
© Bitches Get Riches. All rights reserved. Theme by Colorlib Powered by WordPress