What you need to open a savings account at US Bank
US Bank will ask for a government-issued photo ID, your Social Security number, and an initial deposit. The ID can be a driver's license, passport, or state ID card. You'll also need to bring a debit card or have a bank account number handy if you want to fund the account by transfer rather than cash.
If you don't have a Social Security number yet, US Bank can still open an account for you, but the process takes longer because they have to verify your identity through other means. Ask the banker about this when you arrive — they'll tell you what documents work as alternatives.
The initial deposit amount varies by account type. Some US Bank savings accounts require a minimum opening deposit of $25, while others have no minimum. When you call or visit, ask what the current minimum is for the specific account you're interested in, because these requirements change.
Key Takeaways
- You can open a savings account in person at any US Bank branch with a photo ID, Social Security number, and an initial deposit.
- US Bank also lets you open an account online if you have a valid ID and can verify your identity through their digital process.
- The initial deposit requirement depends on which savings account you choose, so confirm the amount before you go in.
- If you don't have a Social Security number, bring alternative identity documents and expect the process to take longer.
- You'll receive a debit card and online banking access once your account opens, usually within a few business days.
Opening an account in person at a US Bank branch
Walk into any US Bank branch during business hours with your photo ID, Social Security number, and initial deposit. Tell the banker you want to open a savings account. They will ask you which type of savings account you want — US Bank offers several, including basic savings and money market accounts that earn interest at different rates.
The banker will fill out the account paperwork with you and explain the terms: how much interest the account earns, what fees explore if you fall below a minimum balance, and how many withdrawals you can make per month without a fee. Read through the disclosure documents they give you before signing. These documents spell out the rules you're agreeing to.
Once you sign, the banker will process your initial deposit and give you a temporary debit card or card number. Your permanent debit card arrives in the mail within 7 to 10 business days. You can start using online banking right away — the banker will show you how to set up your username and password before you leave.
Opening an account online
Go to the US Bank website and look for the "Open an Account" or "New Accounts" section. You'll answer questions about yourself, upload a photo of your ID, and verify your identity through their online system. This usually means answering security questions based on your credit history or confirming recent transactions.
The online process takes about 10 to 15 minutes. Once US Bank confirms your identity, you'll choose which savings account you want and make your initial deposit using a debit card or bank transfer. Your account opens when ready, and you can log in to online banking right away.
Your debit card will arrive by mail. Until it does, you can transfer money in and out of your account online, but you won't be able to withdraw cash at an ATM or make purchases in stores. If you need cash before the card arrives, you can visit a branch and withdraw from your new account there.
What happens after you open the account
US Bank will send you a welcome packet in the mail with your account number, routing number, and information about online banking and mobile banking. Keep this packet — you'll need the routing number and account number if you want to set up direct deposit from your employer or transfer money from another bank.
Your debit card arrives separately, usually within 7 to 10 business days. When it arrives, you'll need to set up it before you can use it. US Bank sends set up instructions with the card, or you can set up it through their mobile app or website.
Once your account is open, you can start earning interest on your balance. The interest rate changes based on market conditions, so check your account statements or log into online banking to see how much you're earning. You can also set up alerts to notify you when your balance drops below a certain amount or when you receive a deposit.
Minimum balance requirements and fees
US Bank savings accounts may have a minimum balance requirement — the amount you need to keep in the account to avoid a monthly fee. Some accounts have no minimum, while others require $25 or more. If your balance drops below the minimum, US Bank charges a monthly maintenance fee, usually $5 to $10.
You can avoid the fee by keeping your balance above the minimum or by setting up direct deposit. Some US Bank savings accounts waive the monthly fee if you have at least one direct deposit per month, regardless of the balance. Ask the banker which accounts offer this option.
Savings accounts also have withdrawal limits. Federal rules allow you to make up to six withdrawals or transfers per month without penalty. If you exceed this limit, US Bank may charge a fee or convert your account to a checking account. This rule applies whether you withdraw at an ATM, through online banking, or by visiting a branch.
Documents to bring or have ready
If you're opening an account in person, bring your government-issued photo ID (driver's license, passport, or state ID), your Social Security number written down, and your initial deposit in cash or a debit card to process the deposit. If you're opening online, have your ID ready to photograph and your Social Security number available.
If you're a non-citizen with a valid visa or passport, US Bank will accept that as your ID. If you don't have a Social Security number, bring your passport and visa or other immigration documents — the banker will tell you what else they need to verify your identity.
If you want to fund your account by transfer from another bank, have that bank's account number and routing number ready. You can provide this information to the banker, and they'll set up the transfer for you.
If you don't have a Social Security number
US Bank can open an account for you without a Social Security number, but you'll need to provide other forms of identification. Bring your passport, visa, and any other government-issued ID you have. The banker will use these documents to verify your identity through a different process.
This verification takes longer — sometimes several days — because US Bank has to confirm your identity through other means. Once they verify you, your account opens and works the same way as any other US Bank savings account. You can add a Social Security number to your account later if you obtain one.
Frequently Asked Questions
Can I open a US Bank savings account if I'm under 18?
Yes, but you'll need a parent or guardian to open it with you. They'll need to bring their ID and Social Security number along with yours. The account will be in both your names until you turn 18, at which point you can convert it to an account in your name alone.
How long does it take to open an account?
In person, the process takes about 15 to 20 minutes. Online, it takes 10 to 15 minutes, though identity verification can add a few extra minutes. Your account is active when ready, but your debit card arrives by mail within 7 to 10 business days.
What if I don't have a photo ID?
US Bank requires a government-issued photo ID to open an account. If you don't have one, you can get a state ID card from your local DMV or a passport from your local post office or passport agency. Ask the banker if there are other documents they'll accept while you're working on getting an ID.
Can I open multiple savings accounts at US Bank?
Yes. You can open as many savings accounts as you want, and you can give each one a different name to track different savings goals — like "Emergency Fund" or "Vacation." Each account has its own debit card and online login, though you manage them all from one US Bank online banking profile.
What's the difference between a savings account and a money market account at US Bank?
A money market account usually earns a higher interest rate than a regular savings account, but it may require a larger minimum balance and limit how many checks you can write per month. A regular savings account is simpler and better if you're just starting out. Ask the banker which one makes sense for your situation.