Yes, you can open a Bank of America savings account entirely online

Bank of America lets you open a savings account from your computer or phone without visiting a branch. The process takes about 10 minutes and requires a valid government ID, a Social Security number, and a way to fund the account. You'll need to be at least 18 years old and a U.S. resident with a U.S. address.

The account becomes active once your identity is verified and your initial deposit clears. You can start using it to receive direct deposits or transfers the same day in most cases, though some features like debit card ordering may take a few business days.

Key Takeaways

  • Bank of America's online signup process requires your Social Security number, a valid ID, and proof of your current address, and takes about 10 minutes to complete.
  • You must fund the account with an initial deposit during signup, either from another bank account or a debit card, with no minimum deposit amount required.
  • Your account is typically active the same day, but you cannot order a debit card or access certain features until identity verification is fully complete.
  • If you already have a Bank of America checking account, opening a linked savings account online is faster because the bank already has your information on file.

What you need before you start

Gather these items before you begin the online signup: a valid government-issued ID (driver's license, passport, or state ID), your Social Security number, and proof of your current address. Bank of America will ask you to verify your address during signup — they accept a recent utility bill, lease agreement, or mortgage statement.

You'll also need a way to fund the account. You can transfer money from another bank account using your routing and account numbers, or you can use a debit card. Bank of America does not require a minimum opening deposit, so you can fund the account with any amount.

The step-by-step signup process

Go to bankofamerica.com and select "Open an account" from the homepage. Choose "Savings" as your account type. You'll be asked whether you already have a Bank of America account — if you do, the process is faster because the bank skips some verification steps.

Enter your personal information: full name, date of birth, Social Security number, and current address. Bank of America will ask you to verify your address by uploading a photo of a document or by answering security questions based on your credit history. This step usually takes a few minutes.

Next, you'll choose a username and password for online banking, set up security questions, and decide whether to receive statements by email or mail. Then you'll fund the account by linking a bank account or entering a debit card number. The bank will show you the deposit amount and ask you to confirm it.

Review the account terms and disclosures, then submit your process. Bank of America will send you a confirmation email with your new account number and routing number. Your account is now open and ready to use.

When your account becomes active and what you can do when ready

Your savings account is active the moment you complete the online signup, and you can start receiving deposits the same day. If someone sends you a wire transfer or direct deposit using your new account number and routing number, it will arrive in your account within one to two business days depending on the sender's bank.

You cannot order a physical debit card online during signup — Bank of America will mail one to you within 7 to 10 business days. Until it arrives, you can transfer money between your new savings account and any other Bank of America account you own, and you can withdraw cash at any Bank of America ATM using your online banking login.

If you need cash before the debit card arrives, visit a Bank of America branch with your ID and account number. The teller can withdraw money from your new savings account on the spot.

Funding your account during and after signup

During signup, you must make an initial deposit to open the account. You can transfer from another bank account by entering the routing number and account number, or you can use a debit card. The transfer from another bank account usually takes one to two business days to show up in your new savings account.

If you use a debit card, the deposit is typically available when ready. After your account is open, you can add money anytime by transferring from another Bank of America account, setting up a direct deposit from your employer, or transferring from an external bank account through Bank of America's online banking portal.

If you already have a Bank of America checking account

The process is significantly faster if you're already a Bank of America customer. The bank already has your identity verified, your address on file, and your funding information. You can open a linked savings account in about 5 minutes by logging into your existing account and selecting "Open a new account" from the accounts menu.

You'll choose a savings account type, set a name for the account, and decide on initial funding — you can transfer from your checking account when ready. The new savings account is active when ready and appears in your online banking dashboard right away. You can move money between your checking and savings accounts at any time with no fees.

Account types and features to choose from

Bank of America offers several savings account options online. The standard Bank of America Savings account earns interest and has no monthly maintenance fee. The Bank of America Advantage Savings account also has no monthly fee and earns interest, with slightly different terms depending on your balance.

Both accounts let you link to checking accounts, set up automatic transfers, and use online banking and the mobile app. Interest rates vary and change over time — Bank of America will show you the current rate before you finish signup. You can compare the rates and features on their website before you open the account.

What happens if verification fails or takes longer

Bank of America's automated identity verification usually completes within minutes. If the system cannot verify your identity automatically, you may be asked to upload additional documents or answer more security questions. This can add 24 to 48 hours to the process.

In rare cases, Bank of America may ask you to visit a branch in person with your ID to complete verification. If this happens, the bank will contact you by email or phone with instructions. Once verification is complete, your account is fully active and you can order a debit card and access all features.

Frequently Asked Questions

Do I need a minimum deposit to open a Bank of America savings account online?

No. Bank of America does not require a minimum opening deposit for savings accounts opened online. You can fund the account with any amount, even $1, during signup.

Can I open a savings account online if I don't have another bank account to transfer from?

Yes. You can use a debit card to fund your account instead. Enter the card number, expiration date, and CVV during signup, and the deposit will be available when ready in your new savings account.

How long does it take to receive my debit card after opening the account online?

Bank of America mails debit cards within 7 to 10 business days. Until it arrives, you can withdraw cash at any Bank of America ATM or visit a branch with your ID to withdraw from your savings account.

Can I open a savings account online if I'm under 18?

No. Bank of America requires account holders to be at least 18 years old. If you're under 18, a parent or guardian must open a custodial account at a branch with you present.

What if I already have a Bank of America account but want to open a second savings account?

You can open additional savings accounts online by logging into your existing Bank of America account and selecting "Open a new account." The process takes about 5 minutes and you can fund it by transferring from your checking account when ready.