Yes, you can open most bank accounts entirely online

Most banks and credit unions now let you open a checking or savings account from your computer or phone without visiting a branch. The process usually takes 10 to 20 minutes. You'll need a valid ID, a Social Security number or tax ID, proof of your current address, and an initial deposit (which can be as small as $1 at some banks, or sometimes nothing at all).

Not every account type is available online. Some banks still require you to come in person for certain products, like business accounts or accounts for people under 18. But for a basic personal checking or savings account, online is now the standard way most people start.

Key Takeaways

  • You can open a checking or savings account online in 10 to 20 minutes using a valid ID, Social Security number, proof of address, and sometimes a small deposit.
  • You will need to verify your identity during the process, which banks do by checking your information against databases or asking you to take a photo of your ID.
  • Some banks let you fund your new account when ready by linking another bank account or using a debit card, while others mail you a card first.
  • Online-only banks (sometimes called digital banks) often have lower fees and higher savings rates than traditional banks, but no physical branches to visit.
  • If you do not have a Social Security number, some banks and credit unions will open accounts using an Individual Taxpayer Identification Number (ITIN) instead.

What documents and information you will need

Before you start, gather these items: a government-issued photo ID (a driver's license, passport, or state ID card), your Social Security number or ITIN, and a document showing your current address. A utility bill, lease, or recent bank statement all work for the address proof. Some banks will accept a government document like a voter registration card instead.

You will also need to decide how much money to put in when you open the account. Many banks require a minimum deposit—often $25 to $100—but some require nothing at all. A few banks waive the minimum if you set up direct deposit (where your employer or benefit payments go straight into your account). Check the bank's website before you start to see what they require.

How the identity verification step works

Banks verify who you are to prevent fraud and meet federal law. The most common method is knowledge-based verification: the bank asks you questions only you should know the answers to, like details from your credit history or past addresses. You answer a few questions on screen, and if you get them right, you move forward.

Some banks use document verification instead. You take a photo of your ID with your phone or computer camera, and the bank's software reads it and checks that it matches the information you entered. A few banks do both. If you fail verification, the bank will usually tell you why and may ask you to visit a branch in person or call to complete the process by phone.

Getting money into your new account right away

Once your account is open, you have several ways to put money in. The fastest is linking another bank account: you give the new bank your existing account number and routing number, and they transfer money electronically. This usually takes one to two business days. You can also use a debit card to transfer money, though some banks charge a small fee for this.

If you do not have another bank account yet, you can deposit a check by taking a photo of it with your phone (called mobile check deposit) if the bank offers it. Some banks will also let you set up direct deposit right away, so your paycheck or benefits go straight in. A few banks still mail you a debit card before you can withdraw money, which takes five to seven business days.

Online-only banks versus traditional banks with branches

Online-only banks (also called digital banks or neobanks) have no physical locations. You do everything by app or website. They typically charge lower fees, pay higher interest on savings accounts, and have no monthly maintenance fees. Examples include Ally, Charles Schwab Bank, and Discover Bank. The trade-off is that you cannot deposit cash in person or speak to someone face-to-face if you need help.

Traditional banks have physical branches where you can go in person, deposit cash, and talk to a banker. They usually charge more in fees and pay less interest on savings. But if you need to handle something complicated or prefer talking to a person, a branch is there. Many traditional banks now offer online account opening too, so you get both options.

Credit unions are member-owned financial institutions that often have lower fees than banks and may be more willing to work with people new to banking. Some credit unions let you open an account online; others require you to visit in person or mail in paperwork. Check your local credit union's website to see what they offer.

What happens if you do not have a Social Security number

If you are not a U.S. citizen or do not have a Social Security number, you can still open a bank account using an Individual Taxpayer Identification Number (ITIN). An ITIN is a nine-digit number the IRS issues for tax purposes. You explore for one through the IRS; the process takes several weeks and requires certain documents depending on your situation.

Not all banks accept ITINs, but many do—particularly larger banks and credit unions in areas with many immigrants. Call ahead or check the bank's website before you try to open an account. Some banks may also ask for additional documents, like a passport or visa, to verify your identity.

Common reasons online account opening gets rejected

The most common reason is a mismatch between the information you entered and what the bank finds in its verification databases. This can happen if you use a nickname instead of your legal first name, if your address is very new, or if you have moved recently and the address on file somewhere is outdated. If this happens, the bank will usually let you try again or ask you to call to complete the process by phone.

Another reason is a problem with your credit or banking history. If you have unpaid debts, a history of overdrafts, or appear on a list of people banned from banking (called ChexSystems), some banks will decline you. You can ask the bank why you were declined and whether you can open an account at a different bank. Some banks specialize in second-chance accounts for people with banking problems.

If you are under 18, most banks will not let you open an account online without a parent or guardian. You will need to go in person or have a parent open a joint account with you.

Frequently Asked Questions

How long does it take to open an account online?

The process itself takes 10 to 20 minutes. Identity verification happens right away in most cases. You can usually start using your account the same day, though transferring money in may take one to two business days depending on the method you choose.

Do I have to make a deposit when I open the account?

Most banks require a minimum deposit of $25 to $100, but some require nothing. A few waive the minimum if you set up direct deposit. Check the bank's website for their specific requirement before you start.

What if the bank asks me questions I cannot answer during verification?

If you fail knowledge-based verification, ask the bank what went wrong. You may be able to try again, call a representative to verify by phone, or visit a branch in person. Some banks will also let you verify using a document like your passport instead.

Can I use my account before my debit card arrives?

Yes, if the bank lets you link another account or set up direct deposit. Money transfers electronically in one to two business days. If you need to withdraw cash before your card arrives, you can visit a branch or use an ATM if the bank is part of an ATM network.

Is it safe to open a bank account online?

Yes, as long as you use the bank's official website or app. Banks encrypt your information and use identity verification to prevent fraud. Never click a link in an email or text claiming to be from a bank—go directly to the bank's website instead.