You can open both accounts together, usually in one visit
Most banks let you open a checking account and a savings account at the same time, often in a single appointment or online session. The process is nearly identical for both — you provide the same documents, answer the same questions, and sign similar paperwork. The main difference is what each account does: a checking account is for money you use regularly (paying bills, getting cash), while a savings account is for money you want to set aside and grow.
Opening them together makes sense if you want to keep spending money separate from money you're building up. Some banks offer small incentives — like a bonus or lower fees — when you open both at once. Even if they don't, there's no penalty for opening both, and you can always use just one if the other doesn't fit your needs.
Key Takeaways
- Bring a government-issued photo ID, proof of address (like a utility bill or lease), and your Social Security number or tax ID to open either account.
- Banks check a system called ChexSystems to see if you've had problems with accounts before; this is separate from a credit check and doesn't affect your credit score.
- You can open accounts online, by phone, or in person, and the speed depends on the method — in-person is usually fastest, online can take a few days.
- Starting with a small deposit (often $25 to $100) is typical, but some banks have no minimum; ask what they require before you go.
- Once accounts are open, you can link them so money moves easily between checking and savings, which helps you manage both at once.
What documents you need to bring
You'll need three things: a photo ID issued by a government (a driver's license, passport, or state ID card), proof that you live where you say you do, and your Social Security number. The address proof can be a recent utility bill, lease agreement, mortgage statement, or government mail with your name and current address. If you don't have a Social Security number, you can use an Individual Taxpayer Identification Number (ITIN) instead — ask the bank which documents they need to verify an ITIN, as requirements vary.
Bring originals, not copies. Banks need to see the actual documents to confirm they're real. If you're opening accounts online, you'll upload photos of these documents instead, and the bank will review them before your accounts are activated.
How banks check your background
Banks use a system called ChexSystems to look at your banking history. This is not a credit check — it doesn't touch your credit score and doesn't show whether you pay other bills on time. Instead, it shows whether you've had checking or savings accounts before, and whether you left them with unpaid fees or negative balances. If you've never had a bank account, ChexSystems will straightforward show no history, which is fine.
If you did have problems with a past account — like overdraft fees you didn't pay or a closed account with money owed — the bank will see that. Some banks will still open an account for you anyway, especially if the problem was years ago. Others use ChexSystems to decide whether to approve you. If a bank denies you because of ChexSystems, you have the right to see what it says about you and to dispute information that's wrong. You can request your ChexSystems report for free at chexsystems.com.
Opening accounts in person versus online
In-person is usually fastest. You walk into a branch with your documents, a banker reviews them on the spot, and your accounts can be active the same day or within 24 hours. You leave with a debit card (sometimes) or information about when it will arrive. This method works well if you want to deposit cash right away or if you prefer talking through the process with someone.
Online opening takes longer but is convenient if you can't visit a branch. You upload photos of your documents, answer questions on the bank's website, and sign electronically. The bank then reviews everything — this can take a few days — and notifies you when accounts are ready. You won't have a debit card when ready; it arrives by mail. Some banks let you start using your checking account before the card arrives, using online transfers or bill pay.
Phone opening is also an option at many banks. A representative walks you through the process, you provide information verbally, and you mail or upload documents afterward. This usually takes a few days to complete.
Minimum deposits and starting balances
Many banks require a small opening deposit — typically $25 to $100 — to set up your accounts. Some banks have no minimum at all. The deposit goes into whichever account you choose (usually checking), and it's your money; you can spend it or move it whenever you want. It's not a fee.
Ask the bank what their minimum is before you open accounts. If you don't have that much cash on hand, some banks will let you make the deposit by transfer from another bank account, or they may waive the minimum if you set up direct deposit (having your paycheck sent straight to the bank). A few banks that focus on people new to banking have no minimum at all.
What happens after you open accounts
Once both accounts are open, the bank will give you a debit card (usually for checking), online banking access, and account numbers for both. You can then link the two accounts so money moves between them easily — this is useful if you need to transfer money from savings to checking to cover a bill, or move money from checking to savings to keep it separate.
Your first debit card typically arrives within 7 to 10 business days if you opened in person, or within 10 to 14 days if you opened online. Until it arrives, you can still use your checking account through online banking, bill pay, or by visiting a branch to withdraw cash. Some banks let you use a temporary digital card on your phone right away.
The bank will also send you information about fees, interest rates, and account rules. Read this carefully — it explains what you'll be charged for (like overdraft fees or monthly maintenance fees) and what you'll earn (interest on savings). If anything is unclear, call the bank and ask.
Choosing between different types of checking and savings accounts
Banks often offer more than one checking account option. A basic checking account is designed for everyday use — you get a debit card, online banking, and bill pay, with few or no monthly fees. A student checking account (if you're in school) or an account for people new to banking may have lower or no fees and smaller minimum deposits. Some banks offer interest-bearing checking, which pays you a small amount of interest on your balance, though the rate is usually very low.
For savings, a regular savings account is the simplest — you deposit money and earn interest. A high-yield savings account pays more interest, though it may require a larger opening deposit or minimum balance. Some banks offer money market accounts, which are a hybrid between checking and savings — they pay interest like savings but let you write checks or use a debit card like checking. For someone opening accounts for the first time, a basic checking and a regular savings account are usually the best starting point.
Frequently Asked Questions
Do I need a credit card to open a checking account?
No. Checking and savings accounts don't require a credit check or a credit history. The bank only checks ChexSystems (your banking history) and verifies your identity. You can open accounts even if you've never borrowed money or had a credit card.
Can I open accounts if I don't have a permanent address?
Most banks require a current address for their records. If you're unhoused or living temporarily, some banks will accept a shelter address, a PO box, or a friend's address where you receive mail. Call ahead and explain your situation — many banks have worked with people in this position and know what documents they can accept.
What if the bank denies me because of ChexSystems?
You can request your ChexSystems report for free and dispute any errors. If the information is correct, look for a bank that specializes in second-chance checking — these banks work with people who have had problems with accounts before. Credit unions sometimes have more flexible policies than large banks.
Can I open accounts for someone else, like a child or family member?
For a child, you typically open a joint account where you're the primary account holder and they're an authorized user. For an adult family member, they must open their own account with their own ID and Social Security number. You can't open an account for another adult without their presence and consent.
How long does it take to get my debit card?
If you open in person, the bank may give you a temporary card or number to use when ready, with a permanent card arriving in 7 to 10 days. If you open online, expect 10 to 14 days. Some banks offer when ready digital cards you can use on your phone right away while you wait for the physical card.