What is a checking account?
A checking account is a basic bank account that allows you to deposit and withdraw money in a variety of ways, at your convenience.
What do I need to open a checking account?
Federal regulations require proper identification to open a checking account, including: your legal name, permanent address, date of birth, social security number or tax identification number (or a completed W-8BEN form in lieu of a tax id number ), and government issued identification such as your Passport, US driver’s license or state ID. If you do not have a social security number or tax id, then we’ll help you complete a W-8BEN form. The following tips will help you quickly and easily complete the form:
- Part I, #3: List your address in your home country
- Part I, #4: List your address in Lincoln
- Part II, #10: Explain that you are a UNL student
How can I access the money in my checking account?
UBT offers a free Visa debit card to give you access to the money in your checking account. Your debit card can be used to make purchases at local merchants and online. It can also be used to withdraw cash from ATMs. All UNL Campus ATMs are UBT ATMs, so you will not be charged a fee to use them. To use an ATM you’ll need to select a PIN for your card. The PIN is a 4 digit number that you choose, which must be entered by you each time you use your card at an ATM. Your debit card can also be used when you travel throughout the US and internationally. Chat with your banker before you use your card while traveling to get all the necessary information.
What’s the difference between a debit card and a credit card?
A debit card allows you access to the money in your checking account. A credit card gives you access to an approved line of credit and you repay the balance later.