How Many Checking Accounts Can I Have

When sending money to an account within your bank, you only need to use the recipient’s account number to transfer funds.
how many checking accounts can i have

It is crucial to have a bank account in the modern world. You can make various transactions using your bank account, such as sending money to others, buying goods and services, withdrawing funds at an ATM, paying bills, and so on. Time passed when you had to keep money in your house as the banking services were not as elaborate as today. A checking account allows one to keep money that they can use for day-to-day transactions. But how many checking accounts can I have? 

We shall check the number of checking accounts that you can open today. We all understand that having several bank accounts can be advantageous because you can separate various transactions for accountability. For example, you can have a personal and a business account to keep your business transactions aside. Mixing personal and business transactions can be messy when calculating profit and loss.  

Opening an account is easy as you can open one online using a smartphone or any other internet-enabled device such as a computer or tablet. You can also open your account at a physical branch, whereby you have to carry out various requirements to get started. However, the online account opening is more convenient than the opening at a branch. You can carry out the process right from your couch.

Table of Contents

What is a checking account?

You might be asking yourself; What is a checking account? People often get confused about checking accounts as they find it difficult to differentiate them from savings, CDs, and IRAs. A checking account is the one that allows you to keep funds for your everyday needs. You can keep the money you need to make emergency expenditures such as paying for medical bills, purchasing food, paying for bus fare, etc.

For your information, a checking account allows you to write checks. Although some accounts are checkless, you can always ask whether the account you intend to open allows checking writing or not. When opening online, you can always see whether an account allows you to write checks or not. You also get a debit card to access your money in your account. A debit card allows you to withdraw money from a checking account at ATMs and use it to buy goods and services online and at physical branches.

A checking account has an account number and routing numbers. When sending money to an account within your bank, you only need to use the recipient’s account number to transfer funds. However, when transferring money to someone from a different bank, you must use their account and routing numbers. Big banks also have separate routing numbers for every state. 

What do I require to open a checking account?

Opening any bank account is not open to anyone who feels like having a bank account. There are various items you should have to ensure that you carry out the process effectively. They include the following.

  • An identity document such as State/national ID card, passport, or driving license. 
  • Social security Number
  • Phone number
  • Email address
  • Physical address

You may also need to provide additional items depending on the bank you are opening your account with. You might be wondering why financial companies require so much information from people opening accounts. When opening accounts, the federal government requires that every person or group of people produce the above information to prevent fraudsters from opening bank accounts.

The identity document helps to identify those opening accounts correctly. That is because every identification number is unique. The Social Security Number also identifies you further. It also helps the government see the years you have worked to decide your retirement benefits. 

The physical address is essential for receiving tangible equipment such as credit, debit cards, or paper statements. Therefore, it should be up to date. You can present your latest bill payment as proof of your physical address. The email and phone numbers are for the sake of communication. 

How To Open A Checking Account

You can open a checking account at a brick-and-mortar branch or online. Traditionally, people had to walk to a branch to open an account and then make photocopies. However, as time went by, the internet brought the digital banking technique whereby you can open your account online using a smartphone or computer. It is easy to get an online bank account with an instant debit card to use your account balance. 

When opening your account at a branch, you need to produce the various items I mentioned earlier. The bank official concerned with account opening will require you to photocopy your document, fill out the account registration forms, and wait for the approval. When opening your account online, you will need to visit the concerned bank website, check the ‘Open account/Get Started tab” or similar phrases, and proceed as per the instructions. 

Online account opening should take you the shortest time possible. You can even open your account within five minutes, and you are good to proceed. You may require a debit card or bank account from another bank to deposit money for your account. However, we still have free online checking accounts with no opening deposit that you can open and deposit funds when you feel convenient. 

How many checking accounts can I have?

You can have several checking accounts to cater to your financial needs. Therefore, the number of checking accounts you can have is up to you. A financial company may have several types of checking accounts, each serving a specific group of people. You can have a personal checking account, a student checking account, a business account, and so on. 

Therefore, you can have each of those categories of checking accounts. As I mentioned earlier, having separate checking accounts for business and personal expenditures is very important as it helps you separate your business transactions from your business ones.

Therefore, calculating profit and loss is easy. Furthermore, you can pay genuine tax when you separate your business from the personal expenditure. The taxman may demand more tax than necessary if all your transactions appear in one account.   

Above all, you can have bank accounts at various financial companies as no law prohibits the number of financial companies you should open accounts with. 

How to use a checking account?

There are various ways you can utilize funds in your checking account. They include the following.

1. Send money to others

You can send money with a checking account number instantly to accounts within the same branch. As I mentioned somewhere up, you need the account and the routing numbers of the recipient’s account when sending money to accounts within other financial companies.  

There are two main ways to send money to other banks’ accounts. They include the ACH and wire transfers. ACH transfer involves transferring money through the Automated Clearing House before reaching the recipient.

In most cases, the transfer method does not require any fees. However, funds take 3-5 days to reach the recipient. Wire transfers are faster as they complete within 24 hours.

Wire transfers require sending and receiving fees. Therefore, they are more expensive compared to ACH. International ACH and wire transfers may take longer.  

2. Buy goods and services

When you visit a store to purchase goods and services, you can pay using your checking account through the online banking app. Even students can purchase their school requirements using their checking accounts. We have various financial companies that offer high school student checking accounts to make school life easy. 

3. Buy goods and services

When you visit a store to purchase goods and services, you can pay using your checking account through the online banking app. Even students can purchase their school requirements using their checking accounts. We have various financial companies that offer high school student checking accounts to make school life easy. 

4. Fund mobile wallet transactions

Mobile wallets require you to add a bank account when opening your account. You can use the account to fund your transactions within the app when the balance is insufficient. Some of the apps that require you to add a bank account include PayPal, Payoneer, Venmo, GPay, Apple Pay, and so on. 

Can I open a bank account if I am in the ChexSystems? 

ChexSystems is the body that keeps records for poor bank account users. These include people who write bouncing checks, close their bank accounts with negative balances and perform fraudulent transactions.

When you enter the ChexSystems records, you can find it difficult to open a bank account. However, we have financial institutions that allow you to open a second chance account to rectify your bad banking behavior.

Most checking accounts deny you checkbooks and debit cards. Again, most require you to make a particular deposit amount when opening your account. However, you can get a second chance of checking with no opening deposit at some financial companies. 

Read Also: What Banks Offer Free Online Checking Account with Mobile Deposit


A checking account refers to an account that allows you to deposit money for your everyday needs. The funds are accessible 24/7 and therefore convenient for emergency cases. You can open your checking account online or at a brick-and-mortar branch.

To open a checking account, you require an identification document, your Social Security Number, email address, phone number, and a physical address.

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