[oreo_girl]

I am 16 and don't know really anything about banking or what I should look for when opening a bank account. I want to know what interest is and all that goes on with a checking and savings accounts.

Also- I have a prepaid debt card, I have an account with my father, but was wanting to switch banks. I just wanted to know what to look for.
I probably will not be using an ATM, or writing checks. And thank you for the responses so far!

[George_1950]

Welcome to AMHD. Checking accounts are really neat and lots of people are using ATM and debit cards. Check this: What is a Checking Account?

[N0help4u]

I don't know many banks that give interest anymore and then they often charge your account a couple dollars a month for some accounts. Then the ATM machines often charge a fee to use them. You also want to keep an extra $100. In your checking account so you don't end up with a bunch of bounced checks because you didn't know they took a $30. Fee out for a bounced check and the $30. You put in there to cover another check went to the bounce. So you have another bounce. My son ended up owing $400. For two ATM overdrafts under .30 cents because they took two $35.00 bounces out on each of them and then charged him $5.00 a day for each of them.
Money orders are safer because you can keep track of what you have better.

[wingrun]

I recommend you reading a lot about banking and products and services they offer because that is really valuable information and believe me when I say so. You need to learn it once in your life and it's a wise investment to make knowledge-wise. Search Google and Howstuffworks.com for the necessary articles.

Here are my first few tips. First and foremost find yourself a decent account that does not charge you any upfront fee for opening an account and does not charge you any monthly fee. You're young and you shouldn't spend money on just an account at the moment. I also suggest you start with a small credit line (credit card) if you are responsible. DO NOT use the credit card to buy things you can't afford. ONLY BUY things that you can afford and payoff your card at the end of each month in full.