What you need to open a US Bank savings account
US Bank will ask for a government-issued photo ID, your Social Security number, and proof of your current address. That proof can be a recent utility bill, lease, or bank statement — something dated within the last 60 days showing your name and where you live. You'll also need an initial deposit, which varies by account type but is often $25 or more.
If you don't have a Social Security number yet, US Bank offers accounts for people without one, though the process takes longer and requires additional documentation. If you're opening an account for a child under 18, you'll need to be the parent or legal guardian and bring their birth certificate or passport along with your own ID.
Have your information ready before you start — your current address, phone number, and email. If you're opening the account online, you'll type all of this in. If you're going to a branch, bring the documents themselves.
Key Takeaways
- You need a government photo ID, Social Security number, proof of address dated within 60 days, and an opening deposit to start a US Bank savings account.
- Opening online takes about 10 minutes and you can begin using the account the same day, while opening in a branch may take 20 to 30 minutes.
- US Bank offers different savings account types with different opening deposits and interest rates, so compare them before you choose.
- Once your account is open, you can deposit money by transferring it from another bank, visiting a branch with cash or a check, or setting up direct deposit from your employer.
Opening an account online versus in a branch
Opening online is faster. You go to the US Bank website, click "Open an Account," choose the savings account type you want, and fill in your information. The system verifies your identity using your Social Security number and address, and if everything checks out, your account opens within minutes. You can start using it the same day — you'll get a temporary debit card number right away and a physical card arrives by mail in 7 to 10 days.
Opening in a branch takes longer but gives you a chance to ask questions. You walk in with your documents, a banker reviews them, answers your questions about the account, and processes everything while you wait. This usually takes 20 to 30 minutes. You leave with a temporary debit card and information about when your permanent card will arrive.
If you're not sure which account type fits you, or if you're new to banking and want to talk through your options, the branch is worth the time. If you know what you want and just need to get it done, online is faster.
The different US Bank savings account types
US Bank offers several savings accounts, and the one you choose depends on how much money you plan to keep in it and how often you plan to withdraw. The US Bank Savings Account is the basic option — it has a low opening deposit and earns interest, though the rate is modest. The US Bank Money Market Account is similar but usually requires a higher opening deposit and may offer a slightly better interest rate if you keep a larger balance.
US Bank also offers certificates of deposit (CDs), which are accounts where you agree to leave your money untouched for a set period — usually 3 months, 6 months, 1 year, or longer. In exchange, the bank pays you a higher interest rate. You can't withdraw the money early without paying a penalty, so CDs work best for money you know you won't need soon.
Interest rates change, so check the US Bank website or ask at a branch what the current rates are for each account type. The opening deposit requirement also varies — it might be $25 for a basic savings account or $2,500 for a Money Market Account. Start with what you can afford to deposit now, and you can always move money between accounts later.
What happens after you open your account
Once your account is open, you need to fund it. If you opened online and made an opening deposit by transfer from another bank, that money usually arrives within 1 to 3 business days. If you opened in a branch and handed over cash, the money is in your account when ready.
After that, you can add money in three ways. You can transfer it from another bank account using the transfer tool in US Bank's online banking or mobile app. You can visit a branch and deposit cash or a check. Or you can set up direct deposit from your employer, which means your paycheck goes straight into the account — this is the easiest way to add money regularly.
US Bank will send you a debit card, checks (if you want them), and login information for online banking. Set up your online login and mobile app right away so you can check your balance, see your transactions, and move money around whenever you need to.
Fees and things that cost money
US Bank savings accounts don't charge a monthly fee as long as you meet certain requirements — usually keeping a minimum balance or setting up direct deposit. Check the specific account's terms when you open it to see what the requirement is. If you don't meet it, the fee is typically $5 to $10 per month.
You won't be charged for deposits, transfers between your own accounts, or checking your balance. You will be charged if you withdraw more than a certain number of times per month — federal rules limit savings account withdrawals to six per month, and US Bank charges a fee if you go over. This rule applies to transfers and withdrawals combined, so plan accordingly.
If you close your account within a short period after opening it (usually 90 days), some account types charge an early closure fee. Read the account terms before you open so you know what to expect.
If you have no credit history or a past banking problem
US Bank uses ChexSystems, a banking history report similar to a credit report, to decide whether to open accounts. If you've had problems with a bank in the past — bounced checks, overdrafts you didn't pay, or fraud — it may show up in ChexSystems and US Bank might decline your process.
If this happens, you have the right to see what ChexSystems says about you. You can request a free report at www.chexsystems.com. If there's an error, you can dispute it. If the information is correct but old, you can explain the situation to US Bank — some banks will open accounts for people with past problems if enough time has passed or if you can show you've fixed the issue.
If US Bank declines you, look for a second-chance banking account at a smaller bank or credit union in your area. These accounts are designed for people rebuilding their banking history and often have lower opening deposits and fewer restrictions.
Frequently Asked Questions
Can I open a US Bank savings account if I don't have a Social Security number?
Yes. US Bank offers accounts for people without a Social Security number, including immigrants and visa holders. You'll need an Individual Taxpayer Identification Number (ITIN) instead, which you can get from the IRS. The process takes longer and requires more documentation, so call your nearest US Bank branch or visit the website to ask what documents to bring.
How much money do I have to put in when I open the account?
It depends on the account type. A basic US Bank Savings Account usually requires $25 to $100. A Money Market Account typically requires $2,500 or more. Check the current requirements on the US Bank website or ask at a branch, because they can change.
What if I don't have proof of address?
If you don't have a utility bill or lease in your name, you can use other documents — a bank statement, government letter, or insurance bill. If you have none of these, call US Bank and ask what alternatives they accept. Some branches will work with you if you bring additional ID or a letter from a social service agency.
Can I open an account for someone else?
No, not on your own. If you're opening an account for a child, you'll be the account owner and the child is an authorized user. If you want to open an account for an adult who can't come in person, that person will need to sign documents and verify their identity, usually by video call or in person at a branch.
How long does it take to get my debit card?
If you open online, you get a temporary card number when ready and can use it right away. Your physical card arrives by mail in 7 to 10 business days. If you open in a branch, you get a temporary card on the spot and the permanent card arrives the same way.