You can open a Bank of America savings account online in about 10 minutes using a computer or the mobile app

Bank of America lets you open most savings accounts entirely online without visiting a branch. The process asks for your Social Security number, date of birth, address, and initial deposit information. You'll need a valid government ID to verify your identity, and the bank uses an automated system to check this — you don't mail anything in or wait for a human review in most cases.

The whole thing usually takes between 5 and 15 minutes. Your account opens when ready, though the bank may place a temporary hold on your initial deposit while it clears, which typically takes one to two business days. After that, you can start using the account right away.

Key Takeaways

  • You need a Social Security number, valid government ID, current address, and an initial deposit amount to open an account online.
  • The online process takes 5 to 15 minutes and your account opens the same day, though your deposit may take one to two business days to clear.
  • Bank of America offers several savings account types online, each with different interest rates and monthly fees depending on your balance.
  • If the automated identity check fails, the bank will ask you to visit a branch or call customer service to complete the account opening.

What you need before you start

Gather these items before you begin: your Social Security number, a valid government-issued ID (driver's license, passport, or state ID), your current address, and the amount you want to deposit initially. Bank of America requires a minimum opening deposit, which varies by account type — typically $25 to $100 for savings accounts, though this can change.

You'll also need access to the internet and either a computer or the Bank of America mobile app. Have your ID physically available during the process because the bank uses your device's camera to photograph it as part of identity verification.

Step-by-step process on the website

Go to bankofamerica.com and look for the "Open an Account" button, usually near the top of the page. Select "Savings" from the account type options. The bank will show you the different savings accounts available — compare the interest rates, monthly fees, and minimum balance requirements before you choose one.

Click the button to open your chosen account type. Enter your personal information: full name, date of birth, Social Security number, and current address. The bank will ask whether you're a current Bank of America customer; answer honestly because this affects which accounts you can open and what offers you see.

Next, the bank will ask you to photograph your government ID using your device's camera. Hold your ID steady, make sure the photo is clear and all text is readable, and follow the on-screen instructions. The automated system reads your ID and compares it to the information you entered. If everything matches, you move forward when ready.

Enter your initial deposit amount and choose how you want to fund it. You can link an external bank account and transfer money, use a debit card, or in some cases wire funds. Complete the funding step, review the account terms, and submit. Your account opens right away, and you'll see your account number and routing number on the confirmation screen.

Opening an account through the mobile app

The Bank of America mobile app has an "Open an Account" option in the menu. The process is identical to the website version — you'll enter the same information, photograph your ID with your phone's camera, and fund the account the same way. Many people find the app easier because your phone's camera is already built in.

read the app from the Apple App Store or Google Play, log in or create a username, and look for the account opening option. The app will guide you through each step and save your progress if you need to step away, though you'll need to finish within a certain timeframe (usually 30 days) before your session expires.

What happens if identity verification fails

If the automated system can't read your ID clearly or if your information doesn't match what the bank has on file, you'll see a message saying verification couldn't be completed online. This doesn't mean you can't open an account — it just means you'll need to finish the process another way.

Bank of America will offer you two options: visit a local branch with your ID and complete the account opening in person, or call customer service at 1-800-432-1000 to finish over the phone. The phone route usually takes longer because a representative has to manually verify your identity, but you don't have to leave home. A branch visit is faster — typically 10 to 15 minutes — and you can ask questions face-to-face.

Funding your new account

During the online opening process, you'll choose how to make your initial deposit. Linking an external bank account and transferring money is the most common method — the bank asks for your routing number and account number from your other bank, and the transfer usually takes one to two business days.

If you use a debit card to fund the account, the deposit posts faster, sometimes within hours. Wire transfers are also an option but come with a fee (usually $15 to $25) and are less common for initial deposits. After your account opens, you can also deposit checks using mobile check deposit or visit an ATM to deposit cash.

Account types available online

Bank of America offers several savings account options through its website and app. The Regular Savings Account has a low minimum opening deposit and a monthly fee that's waived if you maintain a certain balance or have direct deposits. The Money Market Savings Account typically offers a higher interest rate but requires a larger opening deposit and has higher monthly fees.

The Advantage Savings Account is designed for customers who maintain higher balances and offers better interest rates. Each account type has different rules about how many withdrawals you can make per month and what happens if your balance drops below the minimum. Compare the current interest rates and fee structures on the Bank of America website before you open, because these change regularly.

Frequently Asked Questions

How long does it take for my deposit to show up in my new account?

If you transfer from another bank account, the deposit usually takes one to two business days. Debit card deposits often post within hours. Once the money arrives, you can use it when ready — the account is active the same day you open it, even if your deposit is still processing.

Can I open a savings account online if I'm not a Bank of America customer yet?

Yes. Bank of America lets new customers open savings accounts online. You'll answer a question during the process asking whether you're an existing customer, and the system will route you to the correct account options. New customers sometimes see different offers or account types than existing customers.

What if I don't have a government ID?

You'll need a valid government-issued ID to open an account online — the bank uses it to verify your identity. If you don't have one, you can visit a branch in person with alternative documents like a passport, state ID, or military ID. Call 1-800-432-1000 to ask what documents your local branch accepts.

Is there a monthly fee on Bank of America savings accounts?

Most Bank of America savings accounts have a monthly maintenance fee, but it's waived if you maintain a minimum balance (usually $300 to $500) or set up direct deposits. Check the specific account terms during the opening process to see the fee and the balance requirement for your account type.

Can I open multiple savings accounts at the same time?

You can open one account per online session. If you want to open a second savings account, you'll need to complete the first account opening, then start a new session. There's no limit to how many savings accounts you can have at Bank of America, but each one has its own monthly fee unless you meet the waiver requirements.