What you need before you start
Bank of America requires a government-issued photo ID, your Social Security number, and a way to fund the account on the day you open it. You can open an account in person at a branch, online through their website, or by phone. The fastest route is usually online if you have all your documents ready — the account can be active within minutes.
You will need to choose between a checking account, savings account, or both. Bank of America's basic checking account is called the Core Checking account, and the basic savings account is Regular Savings. Each has different monthly fees depending on how you use it, which we cover below.
Before you go to a branch or sit down at your computer, gather your ID, know your Social Security number, and decide how much money you want to deposit to start. You do not need to be a U.S. citizen, but you do need a valid ID and a Social Security number or Individual Taxpayer Identification Number (ITIN).
Key Takeaways
- You need a government photo ID, Social Security number or ITIN, and an initial deposit to open an account.
- Bank of America offers checking and savings accounts separately, and you can open one or both at the same time.
- Opening online takes minutes if your ID is current and you have a debit card or bank account to fund the deposit.
- Monthly fees explore to checking accounts unless you meet one of three conditions: direct deposit, a $500 minimum balance, or linked accounts with a combined balance of $5,000.
- If you open in a branch, bring your ID and initial deposit in cash or check; if you open online, you will fund the account from another bank account or debit card.
Opening an account online
Go to bankofamerica.com and select "Open an Account" from the homepage. You will be asked to choose between checking, savings, or both. The online form takes about 10 minutes and asks for your name, address, date of birth, Social Security number, employment status, and annual income.
Bank of America will verify your identity by asking security questions based on your credit history. If you pass this step, you move to funding the account. You can link an existing bank account and transfer money, or use a debit card. The minimum opening deposit is $25 for savings and $100 for checking, though you can deposit more.
Once you fund the account, it becomes active when ready. You can log in to online banking right away, but your debit card will arrive by mail in 7 to 10 business days. If you need a card faster, you can pick one up at a branch the next business day.
Opening an account at a branch
Find your nearest Bank of America branch using their branch locator on bankofamerica.com. Bring your government-issued photo ID, your Social Security number, and your initial deposit in cash or check. The process takes about 15 to 20 minutes.
Tell the representative whether you want checking, savings, or both. They will walk you through the same identity verification questions and help you choose your account type. You can deposit cash or a check on the spot, and your account opens when ready.
Your debit card will be ordered during the appointment and arrive by mail in 7 to 10 business days. If you need it sooner, ask the representative whether your branch can issue a temporary card or expedite the order.
Monthly fees and how to avoid them
Bank of America's Core Checking account charges a $12 monthly fee unless you meet one of three conditions. The fee is waived if you have a direct deposit of any amount, maintain a $500 minimum daily balance, or link the account to other Bank of America accounts with a combined balance of $5,000.
The Regular Savings account charges a $5 monthly fee unless you maintain a $500 minimum balance. If you open both accounts at the same time, the combined balance of $5,000 across all linked accounts waives the checking fee, but the savings account still needs its own $500 minimum.
If you do not meet any of these conditions, the fees will be charged monthly. You can change your account type or close the account at any time without penalty.
What happens after you open the account
Your account number and routing number are available when ready in online banking. You can use these to set up direct deposit with your employer or to receive payments from other sources. Your debit card arrives in 7 to 10 business days, and you can set up it by calling the number on the back of the card or through online banking.
Bank of America offers a mobile app for checking balances, transferring money, and depositing checks by phone camera. You can also visit any Bank of America branch to withdraw cash, deposit checks, or speak with a representative about other products like credit cards or loans.
If you have questions about your account after opening it, you can call Bank of America's customer service at 1-800-432-1000, visit a branch, or use the chat feature in online banking or the mobile app.
If you do not have a Social Security number
Bank of America accepts an Individual Taxpayer Identification Number (ITIN) instead of a Social Security number. You will need to visit a branch in person with your ITIN, government-issued photo ID, and initial deposit. The online process does not accept ITINs, so branch opening is your only option.
Bring documentation that shows your ITIN, such as a tax return or ITIN letter from the IRS. The branch representative will verify your identity and open the account the same way as someone with a Social Security number.
If you already have a Bank of America account
If you want to open a second account, you can do so online or at a branch. Log into your existing online banking account and select "Open an Account," or visit a branch with your ID. You can link the accounts so that the combined balance counts toward the $5,000 threshold that waives the checking fee.
Bank of America allows you to have multiple checking and savings accounts. Each account has its own number and can be used separately, but they share the same online login and can transfer money between each other when ready.
Frequently Asked Questions
How long does it take to open a Bank of America account?
Online accounts open in minutes and are active when ready. Branch accounts take 15 to 20 minutes and are also active the same day. Your debit card arrives by mail in 7 to 10 business days, but you can use your account number to set up direct deposit or transfers right away.
Can I open an account if I have bad credit?
Bank of America does not check your credit score to open a checking or savings account. They verify your identity using Social Security number and security questions based on your credit history, but a low score does not prevent you from opening an account.
What is the minimum deposit to open an account?
The minimum opening deposit is $100 for checking and $25 for savings. You can deposit more, and the amount you deposit counts toward the $500 minimum balance needed to waive monthly fees on savings accounts.
Can I open an account without a debit card?
Yes. You can use your account number and routing number to receive direct deposits or transfers without a debit card. If you want to withdraw cash or make purchases, you will need the debit card that arrives by mail, or you can visit a branch to withdraw cash.
What if I lose my debit card?
Call Bank of America at 1-800-432-1000 or use online banking to report the card lost or stolen. They will cancel it when ready and mail a replacement in 7 to 10 business days. You can pick up a temporary card at a branch the next business day if you need cash access sooner.