How does making money on youtube work?

I’m kind of confused how to make money off my videos on youtube. I choose the monetize option on every video I upload but I get the feeling that’s not enough, right? I have to make a GoogleAdSense account or something, right? Well, I have further questions about that.

I looked at the application for the GoogleAdSense and I’m wondering how exactly they give you the money. There doesn’t seem to be a spot for bank account info or anything, so do they just mail you a check after you put in your address? Is it that easy? I hope it is. Because I’d rather not have my parents realize my channel because I say some goofy things they’d might have a row about. So I was thinking of putting my neighbor’s address and he’ll just have all the checks for me (we do things like that for each other)