Yes, you can open a Bank of America savings account entirely online
Bank of America lets you open a savings account through their website or mobile app without visiting a branch. The process takes about 10 minutes and requires a valid government ID, your Social Security number, and an initial deposit method. You'll have a working account by the end of the day in most cases, though the account number and routing number appear when ready so you can start using it right away.
The online path is faster than going to a branch, and you can do it at any hour. You do not need an existing Bank of America account to start — the savings account can be your first account with them.
Key Takeaways
- Bank of America savings accounts open online in about 10 minutes using their website or mobile app, with no branch visit required.
- You need a valid government ID, Social Security number, and a way to fund the account (debit card, existing bank account, or wire transfer).
- Your account number and routing number are available when ready, but the account takes a few hours to fully set up for all transactions.
- Initial deposit amounts vary by account type — some savings products require a minimum, while others do not.
- You can manage the account entirely online after opening, including transfers, deposits, and withdrawals through ATMs or linked accounts.
What you need before you start
Gather these items before opening the account. You will need a valid government-issued ID — a driver's license, passport, or state ID card. Bank of America will ask you to verify it during the process, usually by uploading a photo or answering security questions about the document.
You also need your Social Security number and a way to fund the account. Bank of America accepts debit cards, existing bank accounts (for transfers), or wire transfers as initial deposit methods. If you are funding from another bank account, have that account number and routing number ready. The initial deposit amount depends on which savings product you choose — some have no minimum, while others require $25 or more.
Have your current address and phone number available. Bank of America will verify both during signup.
The step-by-step process on Bank of America's website
Go to bankofamerica.com and look for the "Open an account" or "New customer" link, usually near the top of the page. Select "Savings" from the account type options. Bank of America will show you their current savings products — typically a basic savings account and higher-yield options. Read the details for each, including any monthly fees and minimum balance requirements, then choose the one that fits your needs.
Enter your personal information: full name, date of birth, address, phone number, and email. Bank of America will ask for your Social Security number next. Verify your identity by uploading a photo of your ID or answering questions about your credit history — the method varies depending on what information Bank of America can match in their system.
Choose your initial deposit method and amount. If you are transferring from another bank, enter that account's routing number and account number. If you are using a debit card, enter the card details. Bank of America will process the deposit — most transfers from other banks take one to two business days, while debit card funding is usually when ready.
Review the account terms and disclosures, then sign electronically. Your account opens when ready, and you receive your account number and routing number on screen. You can start using these details right away, though full access to all features (like mobile check deposit) may take a few hours.
Opening through the Bank of America mobile app
The mobile app process is nearly identical to the website. read the Bank of America app, tap "Open an account," and follow the same steps: choose your savings product, enter your information, verify your identity, and fund the account. The app may be slightly faster because it can access your phone's camera directly for ID verification.
One advantage of the app route is that you can complete the process on your phone while you have your ID and funding method in front of you. The app also lets you set up mobile check deposit during signup, so you can start depositing checks when ready once the account is active.
How long it takes and when you can use the account
Your account number and routing number are available the moment you finish the signup process. You can give these to your employer for direct deposit or to another bank to set up transfers when ready. However, the account itself takes a few hours to fully set up — usually by the end of the same business day.
Initial deposits from another bank account typically post within one to two business days. Debit card deposits are usually when ready. Once the deposit posts, you can withdraw money through Bank of America ATMs, transfer funds to other accounts, or set up automatic payments.
If you open the account on a weekend or after business hours, the set up may not complete until the next business day. Bank of America will send you an email and text message when your account is ready to use.
What happens if you already have a Bank of America account
If you already bank with Bank of America, opening a savings account online is even simpler. Log into your existing account, go to the accounts section, and select "Open a new account." You skip the identity verification step because Bank of America already has your information on file. The new savings account links to your existing login and shows up in your account dashboard when ready.
You can transfer money between your existing accounts when ready using Bank of America's online transfer tool. This makes it straightforward to move an initial deposit from a checking account to your new savings account without using an external transfer method.
Fees and minimum balances to know about
Bank of America's savings account fees and minimums change depending on which product you choose. Their basic savings account typically has no monthly maintenance fee if you maintain a certain balance — often $300 or more — or set up direct deposit. If your balance falls below the minimum, a monthly fee applies.
Higher-yield savings products may have higher balance requirements or different fee structures. Check the specific terms for the account you are opening before you complete signup. Bank of America shows all fees and requirements on the account details page during the signup process.
You can also review the fee schedule on their website under "Pricing and Disclosures" if you want to compare before you start the process.
Frequently Asked Questions
Do I need to be a U.S. citizen to open a Bank of America savings account online?
Bank of America requires a valid government-issued ID and a Social Security number or ITIN (Individual Taxpayer Identification Number). You do not need to be a citizen, but you do need a Social Security number or ITIN and a U.S. address. Non-citizens with valid visas and work authorization can open accounts.
What if my identity verification fails during signup?
If Bank of America cannot verify your identity online, they will direct you to a branch to complete the process in person. Bring your government ID and Social Security card or number. The branch can open the account the same day, and you will have online access when ready after.
Can I open a savings account if I am under 18?
Bank of America offers accounts for minors, but they must be opened by a parent or guardian. The adult will need to open a joint account or custodial account through the website or app, providing their own ID and Social Security number along with the minor's information. Some restrictions explore to who can access and manage the account.
What is the difference between opening online and opening in a branch?
Online opening is faster and available 24/7. In-branch opening lets you ask questions face-to-face and may be easier if you have an unusual situation or identity verification issues. Both methods result in the same account with the same features and fees.
Can I deposit cash into my new savings account right away?
You cannot deposit cash online, but once your account is open, you can deposit cash at any Bank of America ATM or branch. Some ATMs accept cash deposits directly into your account. You can also transfer money from another bank account or use a debit card to fund the account during signup.