Opening up your first checking account can help you to feel like a financially responsible adult. However, with every bank offering checking accounts, you may find yourself wondering which bank you should open your checking account at. Here are just a few of the factors you should consider when deciding where to open your first checking account. 

The Minimum Amount Needed to Keep the Account Open

The first factor to consider when deciding where to open a checking account is how much money you have to leave in the checking account. Some banks may require you to leave $25 in the account at all times, while others may require more or less. If you dip below the minimum, you may be charged a fee, or the bank could even close your account if it stays below the minimum for a month or longer. Find out what the minimum balance requirements are and ensure you can meet them. 

What Are the Monthly Fees

The second factor to consider when deciding where to open a checking account is how much the monthly fees are. Some banks offer free checking accounts if you keep your monthly balance above a certain amount or if you have your checks automatically deposited into the account. Other banks charge a fee regardless of how much money you have in the account. Shop around to get the best rate. 

How Accessible ATMs Are to You

The third factor you want to consider when deciding where to open your checking account is how accessible the bank's ATMs are to where you live and work. If you take money out at an ATM that is not operated by your bank, you could get hit with fees. As such, try to find a bank that has ATMs near the places you frequent to avoid these fees. 

If You Can Transfer Funds Electronically

Lastly, consider whether a bank allows you to transfer funds electronically. Electronic fee transfer platform are becoming popular. But not every bank participates in these platforms. Always do your research to find out which banks use the platforms you and your friends use most often. 

There are many factors to consider when you are selecting a bank to open a checking account with. Always pay close attention to how much money you need to keep in the account, what your monthly checking account fees are, how easily accessible ATMs are to you and if and how you can transfer funds electronically.