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I am completely new to opening banking accounts and using checks and all of that. I just got a job at McDonald's and I can get paid with a money card (not sure what that is yet) until I open a checking account. I was researching and found out there are banks that are entirely online. It sounds too good to be true to have a bank without any fees or confusion. I am just not sure how it would work when I get a check. I was reading an article that said you would somehow snap a picture of it, scan it, something like that. If I need to just open an account with a local bank I can do that too but if I can open one with an online bank that would be great. Thanks for any replies, and I am new to this site so sorry if this is in the wrong section or something like that.

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I can get paid with a money card

A money card is like a Debit Card, but is funded directly from your paycheck. Watch for usage fees, minimum balance fees, check cashing fees, etc, etc, etc.

Definitely open a checking account at a local bank.

It sounds too good to be true to have a bank without any fees or confusion.

There are banks in your area which have zero-fee, zero-minimum balance checking accounts for "young people". Typically, that's "age 25 and under".

Even "regular" checking and savings accounts can be zero-fee, zero-minimum balance if you follow certain conditions like minimum balance or two direct paycheck deposits per month.

I was reading an article that said you would somehow snap a picture of it, scan it, something like that.

That's done via a smartphone app provided by your bank. It's super useful.

McDonald's should have Direct Deposit into your checking account (which you'll need to configure), though, so you won't use it frequently.

Some last things:

  1. watch your money like a hawk (someone might steal your identity and clean you out; the sooner you notice it, the sooner you can tell the bank and get your money back),
  2. never spend more than you have,
  3. in fact, spend less than you have (something might come up which you need to buy now),
  4. you're flush with cash now, but there will be expenses later,
  5. open a savings account at an online bank, and transfer a "big" chunk of every paycheck to it every payday. (We can't say what "big" is, because we don't know your situation.)

If I sound like a parent lecturing a teenager... it's because I gave my kids the same speech. :)

  • This is actually really informative, I will go tomorrow and talk with them about opening an account. I am thinking about opening an online savings account with Ally, seems really popular and it gets good reviews. Thank you! – Anthony Cararini Feb 10 '18 at 5:51
  • @AnthonyCararini Ally just happens to be where my online savings accounts are. – RonJohn Feb 10 '18 at 5:53

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