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 basic information: your Social Security number, date of birth, address, phone number, and an initial deposit method. You'll need a valid government-issued ID to verify your identity during signup.

The account opens when ready once you complete the online steps and pass Bank of America's identity verification. You can start using it right away—deposit checks by phone camera, set up direct deposit, or transfer money from another bank account. Some features like debit card ordering happen after account creation, so you won't have a physical card the same day.

Key Takeaways

  • You can complete the entire signup process on Bank of America's website or mobile app without calling or visiting a branch.
  • The bank verifies your identity using information from your Social Security number and may ask security questions based on your credit history.
  • Your account becomes active when ready, but your debit card arrives by mail within 7 to 10 business days.
  • You need an initial deposit of at least $25 to open the account, which can come from a linked bank account, debit card, or wire transfer.
  • Bank of America savings accounts have a monthly maintenance fee unless you meet balance or deposit requirements, so review the current terms before opening.

What you need before you start

Gather these items before opening your account: a valid government-issued ID (driver's license, passport, or state ID), your Social Security number, your current address, and a phone number. Bank of America uses this information to verify you are who you say you are and to check for fraud.

You also need a way to make your initial deposit. This can be a debit card, a checking account at another bank, or a wire transfer. The minimum opening deposit is $25. If you're transferring from another bank account, have that account number and routing number ready—you can find both on a check or your bank's website.

The step-by-step process

Go to bankofamerica.com and click "Open an Account" or use the Bank of America mobile app. Select "Savings Account" from the account type options. The bank will ask for your personal information: full name, date of birth, Social Security number, address, phone number, and email. Answer honestly and exactly as it appears on your ID.

Bank of America will then verify your identity by asking security questions based on your credit history—questions like "Which address did you live at in 2019?" or "Which lender issued your auto loan?" These questions pull from public records and credit reports, so answer based on what you actually did, not what you think the answer should be. If you answer incorrectly, you may be asked to verify your identity in a different way, such as uploading a photo of your ID.

Next, choose your initial deposit method. If you're transferring from another bank account, enter that account's routing number and account number. If you're using a debit card, enter the card number and expiration date. Review the account terms, including the monthly maintenance fee and how to avoid it, then sign the digital agreement. Your account opens when ready.

What happens after you open the account

Your savings account number appears on screen as soon as the account is created. You can use this number right away to set up direct deposit from your employer or to transfer money from another account. You can also deposit checks using the Bank of America mobile app's check deposit feature—take a photo of the front and back of the check, and the bank deposits it electronically.

Your debit card arrives by mail within 7 to 10 business days. You'll receive a temporary card number in the app if you need to make purchases before the physical card arrives. You can also add the account to your digital wallet (Apple Pay, Google Pay, Samsung Pay) using the temporary number.

Log into your account online or through the app to set up alerts, change your PIN, link other accounts, or adjust your savings goals. Bank of America offers tools to round up purchases to the nearest dollar and move the difference to savings, which some people find helpful for building the account balance.

Monthly fees and how to avoid them

Bank of America's savings account has a monthly maintenance fee (the amount varies by account type and region, so check your account terms). You can waive this fee by maintaining a minimum balance—typically $300 to $500 depending on your account type—or by setting up a direct deposit of at least $250 per month.

If you don't meet either requirement, the fee is charged on the last day of each month. You can check your account terms in the app or online to see which option applies to your specific account. If you fall below the minimum balance temporarily, the fee still applies that month, so plan accordingly if your balance fluctuates.

What to do if identity verification fails

If Bank of America cannot verify your identity online—usually because the security questions don't match your records or because you're a new credit user—the bank will ask you to verify in person or by mail. You can visit a local branch with your ID and Social Security card, and a banker will complete the account opening for you. This takes about 15 minutes.

Alternatively, Bank of America may send you a verification code by mail to your address on file. You'll receive a letter with instructions on how to complete the process online using that code. This route takes 5 to 10 business days for the letter to arrive, then a few minutes to finish the account opening once you have the code.

Frequently Asked Questions

Can I open a Bank of America savings account if I don't have a Social Security number?

No. Bank of America requires a Social Security number or Individual Taxpayer Identification Number (ITIN) to open any account. This is a federal requirement, not a Bank of America policy. If you have an ITIN, you can use that instead of a Social Security number.

What if I don't have a government-issued ID?

You can still open an account, but you'll need to complete identity verification in person at a branch or by mail. Bring whatever ID you have—a passport, state ID, tribal ID, or military ID all work. If you have no ID at all, visit a branch and ask about alternative verification methods.

How long does it take to open the account?

The online process takes 10 to 15 minutes if identity verification succeeds when ready. If the bank needs to ask follow-up questions or verify your identity by mail, add 5 to 10 business days. Your account is usable as soon as it opens; the debit card arrives separately in 7 to 10 business days.

Can I open multiple savings accounts at Bank of America?

Yes. You can open as many savings accounts as you want and use them for different purposes—one for emergencies, one for a vacation, one for a down payment. Each account has its own monthly fee unless you meet the waiver requirements, so factor that into your decision.

What's the difference between a Bank of America savings account and a money market account?

A savings account is simpler and has lower minimum balances. A money market account typically pays slightly higher interest but requires a larger minimum balance and limits how many withdrawals you can make per month. For most people, a savings account is the right choice.