Question

Choose a bank in your community and ask for the forms that you need to fill out in order to open a checking account and a savings account. You may be able to get the forms from the bank branch or to download them from the bank’s website. Fill out both forms.

Then, for each account type, describe the following requirements:
- the information the bank wants
- the documentation required to support the information you provided
- the agreement you’re entering into with the bank by signing the form
(for finance class)

Answer 1

Bank of America

- the data the bank needs

For opening an investment funds or a financial records, the Bank of American just necessities some fundamental individual data, and at any rate $25 from you, to begin the record.

- the documentation needed to help the data you gave

You need to furnish the Bank with these reports:

An primary ID (for instance, a driver's permit, or a state's given ID with photo)

A secondary ID (For instance, a school ID)

Current postage information

Social Security Number

Email address

Account number (on the off chance that you as of now have a record)

- the understanding you're going into with the bank by marking the structure

The arrangement is too long to even think about interpreting in this answer, however it basically bargains you to acknowledge the terms or administration of Bank of America. It likewise gives you data about how the Bank of America will deal with your record, and how it will ensure its security.

Step-by-step explanation:

Answer 2

This applies for the Bank of America

- the information the bank wants

For opening a savings or a checking account, the Bank of American only needs some basic personal information, and at least $25 from you, in order to start the account.

- the documentation required to support the information you provided

You need to provide the Bank with these documents:

A primary ID (for example, a driver's license, or a state's issued ID with photo)

A secondary ID (For example, a college ID)

Current mailing address

Social Security Number

Email address

Account number (in case you already have an account)

- the agreement you’re entering into with the bank by signing the form

The agreement is too long to transcribe in this answer, but it essentially compromises you to accept the terms or service of Bank of America. It also gives you information about how the Bank of America will manage your account, and how it will protect its security.