What you need before you walk in

Most banks and credit unions will ask for two things: proof of who you are, and proof of where you live. A driver's license or state ID covers both. If you don't have either, a passport works for identity, and you can use a utility bill, lease, or bank statement for your address — it just needs to show your name and current street.

You'll also need to bring money to open the account. The amount varies by bank. Some credit unions have no minimum. Many banks require $25 to $100 to start, though a few ask for more. Call ahead or check the bank's website to know what to bring.

If you're opening an account for a child under 18, you'll need to be present as a parent or guardian, and you'll bring your own ID plus theirs. Some banks have special youth accounts with different rules.

Key Takeaways

  • Bring a photo ID and proof of address — a driver's license covers both, or use a passport plus a utility bill.
  • Have the opening deposit ready, which usually ranges from $0 to $100 depending on the bank or credit union.
  • You can open an account in person at a branch, by phone, or online, and the process takes 15 minutes to a few days depending on the method.
  • Ask about monthly fees, minimum balance requirements, and overdraft policies before you sign anything.
  • You'll receive a debit card and checks within one to two weeks, and your account number when ready so you can start using it right away.

Opening in person at a branch

Walking into a bank or credit union and opening an account at the counter is the most straightforward route if you're new to banking. Tell the person at the desk you want to open a checking account. They'll hand you forms to fill out — usually a signature card and an account agreement. The forms ask for your name, address, phone number, Social Security number (or Individual Taxpayer Identification Number if you don't have a Social Security number), and sometimes your employment information.

Read the account agreement before you sign. This document tells you the monthly fee, if any; the minimum balance you need to keep; what happens if you overdraw (spend more than you have); and how much interest the bank pays you on your balance. Ask questions about anything you don't understand. The staff member is there to explain it.

Once you sign, you'll hand over your opening deposit. The teller will give you a receipt with your new account number. You can use that number to set up direct deposit or transfers right away, even though your debit card won't arrive for one to two weeks.

Opening by phone or online

Many banks and credit unions let you start the process online or by phone without visiting a branch. You'll fill out the same forms on a website or answer questions over the phone. The bank will ask you to verify your identity — some use a code they text to your phone, others ask security questions, and some require you to upload a photo of your ID.

The main difference is timing. Online and phone accounts usually take one to three business days to open because the bank needs to confirm your identity through their system. In-person accounts open when ready. Once your account is approved, the bank will mail you a debit card and checks, or let you pick them up at a branch.

Some online-only banks (banks with no physical branches) operate entirely this way. They're often cheaper because they have lower overhead, but you can't walk in with questions. Make sure you're comfortable banking by phone, email, or their website before you choose an online-only bank.

Understanding fees and minimums

Before you commit to an account, know what it costs. A monthly maintenance fee is a charge the bank takes from your account each month just for having it open. This ranges from $0 to $15 depending on the bank. Some banks waive the fee if you keep a certain balance, set up direct deposit, or meet other conditions.

A minimum balance requirement means you have to keep at least a certain amount in the account or face a fee. This might be $100, $500, or more. If you fall below it, the bank charges you. Some accounts have no minimum at all.

Overdraft fees happen when you spend more money than you have in the account. The bank covers the transaction and charges you a fee — usually $25 to $35 per overdraft. You can often turn off overdraft protection so transactions are declined instead of charged, which costs nothing but means your card won't work if you don't have enough money.

Credit unions often have lower fees than banks because they're member-owned nonprofits. If you work in a certain field, belong to a union, or live in a certain area, you may be able to join a credit union. Ask your employer or search online for credit unions in your area.

What happens after you open the account

Your account is active the moment you open it, even if your debit card hasn't arrived yet. You can use your account number to set up direct deposit from your employer, receive payments, or transfer money. If you need to withdraw cash before your card arrives, you can visit the branch with your ID and account number.

Your debit card will arrive in the mail within one to two weeks. When it does, you'll need to set up it — usually by calling a number on the card or using the bank's app. Once activated, you can use it to buy things, withdraw cash from ATMs, and check your balance.

Checks take longer. If you ordered them, they'll arrive separately in two to three weeks. You don't need checks for most transactions anymore, but they're useful for paying rent or bills to people who don't take cards. You can also pay bills online through your bank's website without writing a check.

Choosing between a bank and a credit union

A bank is a for-profit business owned by shareholders. It makes money by charging fees and lending out deposits. Banks are insured by the Federal Deposit Insurance Corporation (FDIC), which means if the bank fails, the government protects your money up to $250,000.

A credit union is a nonprofit owned by its members — the people who have accounts there. It exists to serve members, not make profits for shareholders. Credit unions are insured by the National Credit Union Administration (NCUA), which offers the same $250,000 protection as the FDIC. Credit unions often have lower fees and better interest rates, but you have to meet membership requirements to join.

Both are safe places to keep your money. The choice comes down to convenience (banks have more branches and ATMs in most areas), fees (credit unions are often cheaper), and whether you meet the membership requirements for a credit union near you.

If you don't have a Social Security number

You can open a checking account with an Individual Taxpayer Identification Number (ITIN) instead of a Social Security number. An ITIN is issued by the IRS to people who file taxes but don't have a Social Security number — including some immigrants and visa holders.

Bring your ITIN documentation along with your ID and proof of address. Some banks accept ITINs without question. Others may ask more questions or require additional documents. Call ahead to confirm the bank you're considering will open an account for you.

If you don't have either a Social Security number or an ITIN, some banks and credit unions offer second-chance accounts or basic accounts designed for people in this situation. These may have higher fees or lower limits, but they let you start building a banking history.

Frequently Asked Questions

Can I open a checking account if I have bad credit or a history with ChexSystems?

Yes. Checking accounts don't use credit scores. ChexSystems is a separate system that banks use to check if you've had problems with accounts in the past — like overdrafts you didn't pay or fraud. If you're flagged, some banks will still open an account for you, though they may require a higher opening deposit or offer a limited account. Ask the bank directly about their policy.

How long does it take to use my account after I open it?

Your account is usable when ready — you can set up direct deposit or transfers the same day. Your debit card arrives in one to two weeks. If you need cash before then, visit the branch with your ID and account number to withdraw.

What if I'm under 18?

Most banks let minors open accounts with a parent or guardian present. You'll both bring ID, and the parent will co-sign. Some banks have youth accounts with special rules, like limits on how much you can withdraw or spend. Ask what options the bank offers for your age.

Do I need a minimum balance to keep the account open?

It depends on the account. Some have no minimum. Others require you to keep $100, $500, or more. If you fall below the minimum, the bank charges a fee. Ask about the minimum before you open the account, and choose one you can realistically maintain.

What's the difference between a checking account and a savings account?

A checking account is for money you use regularly — paying bills, buying things, getting paid. A savings account is for money you want to keep and grow. Savings accounts earn interest (the bank pays you a small percentage of your balance), but checking accounts usually don't. Many people have both.