Paragraph on How to Open a Bank Account

If you are searching for a paragraph on how to open a bank account, you are in the right place. Here I’ve shared a short paragraph especially for class nine and ten on opening a new saving account in the bank.

After reading the paragraph, you will know;

• The procedures of opening a new bank account.
• Who can open a bank account?
• How do you get a bank account?

Paragraph on How to Open a Bank Account

How to Open a Bank Account

To open a bank account one has to be 18 years old. But most of the banks allow students to open a student account in the bank. There are various types of accounts but the most common is a savings account.

In order to open a bank account, you have to do the following things. At first, you need to arrange, 2 copies of your passport size photo, a picture of your nominee, a copy of your national id card (if you are 18), and a copy of your utility bill.

Now, visit the nearest bank and tell the responsible officer that you want to open a new account in the bank. You must tell if you are 18 years old or under 18. If you are under 18, you need to open a joint account with any of your guardians.

Then the officer will give you an application form to open a savings account. Now, you need to fill in the form with the correct information.

You should be introduced by anybody who has an account with the bank. The introducer must write his/her account number, address and put signature in the relevant part of the application form. Your photos must be attested by your introducer.

After that, you have to put your specimen signature on the signature card and attach a two-passport size photograph.

Finally, you are to submit the application form and deposit the minimum amount for opening an account with the bank. After a few days, you can collect your checkbook.

Thus, you can complete all the formalities to open a new bank account.

Hope you found the paragraph helpful. If you need other paragraphs, you can check here all English paragraphs