Getting a bank account opens doors to opportunities that alternative services can’t match, such as fraud protection, free check cashing and access to lower-cost loans. If you don’t have a bank account, you’re not alone: Nearly 1 in 10 (8.5%) consumers are unbanked, according to an August 2020 report from Mintel, a market research company….

Anna Helhoski is a writer at NerdWallet. Email: anna@nerdwallet.com. Twitter: @AnnaHelhoski.

The article Banking 101: Your Guide to Getting in the System originally appeared on NerdWallet.

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