What you need to open a bank account

You can open a bank account with just two things: a government-issued photo ID and proof of your current address. The ID can be a driver's license, passport, state ID card, or tribal ID. For the address proof, bring a recent utility bill, lease, mortgage statement, or government mail with your name and address on it — usually from the last 60 days.

Some banks also ask for a second form of ID or your Social Security number. If you don't have a Social Security number, you can use an Individual Taxpayer Identification Number (ITIN) instead. A few banks work with people who have no ID at all, though these are less common — ask at community banks or credit unions in your area.

You do not need to bring money to open the account. Many banks have no minimum opening deposit, though some require $25 to $100. A few accounts have monthly fees, but many do not. You can find out the specific requirements before you go in by calling the bank or visiting their website.

Key Takeaways

  • You need a government photo ID and proof of your address, both of which you can bring to any bank branch in person.
  • Community banks and credit unions often have fewer requirements and lower fees than large national banks.
  • You can open an account in person at a branch, by phone, or online depending on the bank — in-person is usually fastest if you are new to banking.
  • Once your account is open, you will receive a debit card and checks within one to two weeks, and you can start using the account when ready.
  • If you have had banking problems in the past, you can still open an account — some banks specialize in second-chance accounts.

Where to open an account: banks, credit unions, and online options

You have three main choices: a traditional bank branch, a credit union, or an online bank. A traditional bank is a for-profit company with physical locations where you can walk in, deposit cash, and talk to someone face-to-face. Large national banks like Chase, Bank of America, and Wells Fargo have branches everywhere. Local and regional banks have fewer locations but often charge lower fees and are more willing to work with people new to banking.

A credit union is a nonprofit organization owned by its members. You join by opening an account, and you get a say in how it operates. Credit unions typically have lower fees, better interest rates on savings, and staff who take time to explain things. The catch is that credit unions have fewer branches and ATMs than big banks — though most credit unions let you use ATMs from other credit unions for free. To find a credit union near you, visit CO-OP or Alliant, which are networks that let you access thousands of ATMs.

Online banks have no physical branches — you open and manage your account entirely on a computer or phone. They usually have no monthly fees and pay higher interest on savings accounts. The downside is that you cannot deposit cash in person or talk to someone at a branch. Online banks work well if you are comfortable managing money on your phone and do not need to deposit cash often.

Opening an account in person at a branch

Walking into a branch is the most straightforward route if you are opening your first account. Bring your ID, proof of address, and your Social Security number or ITIN. Tell the person at the desk that you want to open a checking or savings account — they will ask you a few questions and hand you forms to sign. The whole process usually takes 15 to 30 minutes.

The bank will ask what type of account you want. A checking account is for money you use regularly — you get a debit card and checks to pay bills. A savings account is for money you want to keep and grow — it earns interest, but you cannot use a debit card. Many people open both at the same time. The bank will also ask if you want online banking and a debit card, which you should say yes to.

Before you leave, ask about fees. Specifically ask: Is there a monthly fee? Are there fees for using ATMs outside the bank's network? Is there a fee if your balance drops below a certain amount? Write down the answers so you remember them later.

Opening an account by phone or online

Many banks let you open an account without visiting a branch. You can call the bank's customer service number, answer questions about yourself, and they will mail you a debit card and checks. Some banks let you upload photos of your ID and address proof using your phone camera instead of mailing them in.

Online banks make the process even faster — you fill out a form on their website, upload your documents, and your account opens within minutes or hours. You can start using the account right away through their app, though you may have to wait a few days before you can deposit checks or transfer money from another bank.

The downside of opening by phone or online is that you cannot ask questions face-to-face, and the process can feel confusing if you are new to banking. If you choose this route, call the bank before you start and ask them to walk you through it, or ask a trusted friend or family member to help you.

What happens after you open your account

Once your account is open, you can use it when ready — the bank will give you online access right away so you can check your balance and transfer money. Your debit card and checks will arrive in the mail within one to two weeks. Until they arrive, you can withdraw cash at the bank's ATMs or at the branch itself.

When your debit card arrives, you can use it to buy things in stores, pay online, and withdraw cash from ATMs. When your checks arrive, you can write them to pay bills or people. Keep your PIN (personal identification number) secret — never share it with anyone, even bank employees.

Set up online banking on your phone or computer so you can check your balance anytime and see what money has come in and gone out. Most banks let you set up alerts that text or email you when your balance gets low or when large amounts of money move in or out of your account.

If you have had banking problems before

If you closed an account with unpaid fees, bounced checks, or fraud, you may appear in ChexSystems, a database that banks check when you open a new account. This does not mean you cannot open an account — it means some banks will say no, but others will say yes.

Look for banks that offer second-chance checking accounts. These are designed for people with banking history problems. They usually have higher fees and lower limits on how much you can spend or deposit, but they give you a way back into the banking system. Chime, LendingClub, and some local credit unions offer second-chance accounts. Call ahead and ask if they work with people who have ChexSystems records.

If you have never had a bank account at all, you have no barriers — any bank will open an account for you. Start with a basic checking account and use it responsibly for six months to a year. After that, you can move to a bank with better rates or lower fees if you want to.

Frequently Asked Questions

Do I need a job to open a bank account?

No. Banks do not require proof of employment. You need a government ID and proof of address. If you are unemployed or between jobs, you can still open an account.

What if I don't have a Social Security number?

You can use an Individual Taxpayer Identification Number (ITIN) instead. Some banks also open accounts for people with no number at all — call ahead and ask. Credit unions are often more flexible on this than large banks.

Can I open an account if I'm not a U.S. citizen?

Yes. You need a valid government-issued ID (passport, visa, or state ID) and proof of address. Some banks ask for an ITIN instead of a Social Security number. Call the bank first to confirm what they need.

How much money do I need to open an account?

Most banks have no minimum opening deposit. Some require $25 to $100. Call the bank or check their website before you go in so you know what to expect.

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

A checking account is for everyday spending — you get a debit card and checks. A savings account earns interest and is meant for money you want to keep. Many people have both. You can open both at the same time.