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Your First Account

Learn the basics, like how to open a checking account

Banking Basics

You’re opening your first bank account! Excited and slightly disoriented at the same time? You’re not alone. This is new territory, after all. To help you get the lay of the land, we pulled together some answers to a handful of questions new customers typically have.

Banking Basics FAQs

Use your debit card just like cash. Swipe it or key in your card information for any purchase, online or in person. Just remember to record your debit purchases in your check register since they’re automatically deducted from your checking account. Need cash? You can use your debit card and personal identification number (PIN) to make withdrawals from any ATM in the F&M Bank network. Note: Daily spending and cash withdrawal limits may apply.* If your debit card is lost or stolen, contact us immediately. Never write a check or make a debit card purchase that exceeds your checking account balance, or you’ll overdraw your account. If you do, you may owe overdraft fees to F&M Bank and the bank that attempts to process the transaction. To avoid overdrafts, keep track of your checking account balance regularly. Lots of reasons: When you open a checking account, you get a free debit card that you can use just like cash. Or get some practice writing a check. (They’re free!) Your free checking account also helps you build credit, an important step on your path to financial health. Last but not least, you get to use Mobile Deposit when you sign up for our mobile banking app. Three reasons: 1) Every deposit you make is insured by the Federal Deposit Insurance Corporation (FDIC) up to $250,000. 2) You’ll have easy access to your funds, and you can make money with your money while we keep it safe for you. 3) You can start building a relationship with your local bank and turn to us for help with future banking needs, like a car loan.
You can help lay the groundwork with everyday activities like earning an allowance or sharing in the cost of the latest “it” sneakers. And by all means, talk about the family budget and open a checking account or savings account, both of which can go a long way toward building basic financial literacy skills. Consider our Dream Builder Account, a combination checking and savings account that grows with your kids from birth to age 21. In addition to perks like a $25 opening bonus* and a wealth of financial knowledge.

*Initial account opening bonus will be deposited during account opening and is provided once during the Dream Builder account lifetime. The initial account opening bonus is subject to tax reporting requirements. You will receive a $25 bonus within 30 days after the opening deposit has been made.


Cash checks, score rewards, protect your identity or just get the not-so-basic basics.


Get rewards, check CD rates, invest well or save for a well-earned vacation.


Put your checking account in the palm of your hand with our free Mobile Banking app.

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