Do you get your secuirty deposit back after you put it in your checking account?

I recently opened up a checking account at Wells Fargo. But in order to open it, I had to deposit a security deposite of $100. The reason I opened up the account in the first place was to cash in my check for free. I had about $113, and the teller deposited all that into the checking account.





I had assumed that they would take the $100 for security deposit out of the account, but every time I deposit/withdraw money from the account, the balance still has that original $100 from the security deposit.





Honestly, I don't really know anything about banks or accounts. I am only a high school student (senior), so I don't get that stuff. So can I use the $100 in the account as my own money, or am I supposed to leave it alone forever because it's supposed to be the security deposit?





I wanted to contact Wells Fargo about this situation, but I didn't want to appear completely clueless.





Thanks for all your help/time.|||I wanted to contact Wells Fargo about this situation, but I didn't want to appear completely clueless.








Ask them anyway. Simply acknowledging you HAVE a question will make you appear more informed than 1/2 their customers.|||When you open a new account, you have to deposit something into it to do so - you can't open a new account with a zero balance. So its not really a "security deposit."





Yes, you can "use" the $100, but beware of whatever low-balance fees and charges might apply to your account.|||I would call Wells Fargo and ask what the minimum balance is for the account.





You DO NOT want to be charges any low balance fees.





Also, if there is a fee for an amount under $100, and you do not plan on keeping much money in there, I would suggest finding another bank with no minimum balance.





I would suggest keeping a checking account (called check register) up to date, with all of your transactions listed, to keep organized.|||With most banks, they require you to have a certain amount of money to open an account, Not saying you are required to keep that amount of money in the account at all times. Now some account types state in the brochure that you must attaine a specifed amount at all times, or be charge a monthly, or quartly pently. As for Wells Fargo, it's a bank I have not heard of, So when you opened the account, all that pesty paper work you received, you need to look over it, And if you still don't understand, than speek to whom can explain it to you,


Since your still young, let me give you a BIG piece of advice, NEVER sign your name to ANYTHING you have not read, or understand COMPLETLY|||it depends what type account you opened and it is your money which you get when you close the account


congrats that you are learning important stuff most people don't care about|||It's shouldn't be called a security deposit. It's just a deposit to a new account. That's part of the process of getting the new account to show up on the bank's system. Since you deposited a check, the check had to clear. After the check clears, you can use the $100 for whatever reason. Just be sure you don't go over your balance.