If you’re opening a checking or savings account, you’ll often need to make an initial deposit into the account. Sometimes, this is required as part of the opening process, and other times, you can do it after the account is up and running. There are several ways to fund your account:
- Deposit cash: It should be available for spending with your debit card or by writing a check by the next day.
- Deposit a check or money order: The funds should be available within a few business days after you make the deposit.
- Set up direct deposit with your employer: If your company offers this benefit, instead of getting a physical paycheck, your earnings will be sent directly to your new account.
- Transfer funds electronically: If you have one, you can move money from an external bank account to make your initial deposit.