Department of Education

Why should I put my money in a bank?

Why should I put my money in a bank?

A bank is a safe place to keep your money. It is safer than keeping lots of cash in your house, which might get lost or stolen. It is also a good way to save money for the future.

Your money will earn interest in a bank, meaning over time the amount of money will increase.

There are many banks and building societies and many types of account – do some research before you open an account to see what best suits you or arrange to speak to an advisor at a high street bank who can explain things to you. You might want to consider the following:

  • How easily do you want to be able to access your money?
  • Do you live near a branch?
  • Do you want to use an online bank account?

When you open a bank account, you will need to show identification such as a passport and proof of your address.

[See ‘Why is it important to manage my money?’]


The National Autistic Society, in association with the Financial Services Agency, has a website to help adults and young people with autism better manage their money. www.managingmoney.org.uk offers lots of advice relating to money including how to open a bank account.

You can also find out more about how to open and run a bank account on the Directgov website.


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