What you need to bring and where to go

Opening a bank account takes one visit to a bank or credit union branch, or you can do it online with some institutions. You will need a government-issued ID (a driver's license, passport, or state ID card), proof of your address (a utility bill, lease, or mail from a government agency), and your Social Security number or ITIN (Individual Taxpayer Identification Number). Bring these documents with you, or have them ready if you are opening an account online.

Walk into any bank or credit union branch during business hours and ask to open a checking or savings account. A staff member will ask you questions about yourself, verify your documents, and help you choose which type of account fits your needs. The whole process usually takes 15 to 30 minutes. If you prefer not to visit in person, many banks and credit unions now let you open an account entirely online through their website or mobile app.

You do not need to have money in the account before you open it, though some banks require a small opening deposit (often $25 to $100). Others have no minimum. Ask about this when you call or visit, so you know what to expect.

Key Takeaways

  • Bring a government ID, proof of address, and your Social Security number or ITIN to open an account in person at a bank or credit union branch.
  • Many banks now let you open an account online without visiting a branch, though you will still need to provide the same documents.
  • Some banks require a small opening deposit, while others do not — ask before you go in so you know what to bring.
  • The process takes 15 to 30 minutes in person, and you can start using your account within a few days once it is set up.
  • If you do not have a government ID, some banks and credit unions will work with you using alternative documents — call ahead to ask what they accept.

Choosing between a bank and a credit union

A bank is a for-profit business that takes deposits and makes loans. A credit union is a non-profit organization owned by its members. For someone opening their first account, the practical difference is usually in fees and customer service. Credit unions often charge lower fees and may be more willing to work with people who are new to banking or have had trouble with banks before. Banks are more common, have more branches and ATMs, and often have more online tools.

Both are equally safe — your money is insured by the federal government up to $250,000 through the FDIC (Federal Deposit Insurance Corporation) at banks or the NCUA (National Credit Union Administration) at credit unions. This means if the institution fails, you do not lose your money.

If you are not sure which to choose, start by looking at what is near you. If there is a credit union in your area, call and ask whether they work with people new to banking. If you prefer a bank, look for one that advertises low fees for basic checking accounts — many large banks have stripped-down accounts with no monthly fee and no minimum balance.

What happens after you open the account

Once your account is open, you will receive a debit card in the mail within 5 to 10 business days. This card lets you withdraw money from ATMs and pay for things in stores. You will also be given a checkbook if you opened a checking account, though many people now use their debit card or mobile banking app instead of checks.

You will receive online banking login information — either in person, by email, or by mail. This lets you check your balance, transfer money, and pay bills from your computer or phone. Set up your login as soon as you receive it. Many banks also let you set up direct deposit, which means your employer or benefits provider can send money straight into your account instead of giving you a paper check.

Your bank or credit union will send you a statement each month (usually by email now, though you can ask for paper). This shows every deposit, withdrawal, and fee. Keep these statements for your records.

If you do not have a government ID

Not everyone has a driver's license or passport, and some people have documents that are expired or from another country. If this is your situation, call a few banks or credit unions near you and ask what documents they will accept instead. Some will take a state ID card, a tribal ID, a passport from another country, or a combination of documents like a birth certificate plus a utility bill.

Credit unions are often more flexible here than large banks. Community banks and smaller institutions may also be willing to work with you. Be honest about what you have when you call — staff can tell you right away whether it will work, rather than you making a trip for nothing.

If you have an ITIN instead of a Social Security number (which is common for people who are not yet citizens but work legally in the United States), most banks and credit unions will accept it. Bring the letter from the IRS that came with your ITIN.

Understanding checking versus savings accounts

A checking account is meant for money you use regularly. You can write checks, use a debit card, and set up automatic payments. Most checking accounts come with a debit card and online banking. Some have monthly fees, though many do not.

A savings account is meant for money you want to keep and grow. You earn a small amount of interest (money the bank pays you for letting them use your money). Savings accounts usually have limits on how many times per month you can withdraw money, though this rule has become less strict in recent years. Savings accounts usually have lower or no monthly fees.

Many people open both: a checking account for everyday spending and a savings account to set money aside. You can start with just one and add the other later. If you are not sure which to open first, start with checking — that is where most people put the money they need to access regularly.

Fees to watch for

Banks and credit unions make money partly by charging fees. The most common ones are a monthly maintenance fee (usually $5 to $15), an overdraft fee (charged when you spend more than you have in your account), and ATM fees (charged when you use an ATM that is not owned by your bank). Some banks charge fees for things like paper statements or talking to a teller.

Before you open an account, ask about these fees or look them up on the bank's website. Many banks waive the monthly fee if you keep a minimum balance, set up direct deposit, or use online banking. Some credit unions have no monthly fees at all. A few banks offer completely free checking with no catches — these are worth seeking out if you are just starting out.

Overdraft fees are the ones that hurt most. If you spend $5 more than you have, the bank may charge you $30 or $35. You can prevent this by turning off overdraft protection (ask your bank how) or by checking your balance before you spend.

Getting help if you are nervous about banking

If you have never had a bank account before, or if you had a bad experience with a bank in the past, it is normal to feel nervous. Many banks and credit unions offer free financial education classes or one-on-one help for people new to banking. Call the branch near you and ask whether they have someone who can walk you through the process.

Community organizations in your area may also offer free banking education. Search online for "financial literacy" plus your city name, or call 211 (a free helpline) and ask whether they know of classes near you.

Remember that bank staff are used to helping people open their first account. There are no stupid questions — ask anything you need to understand.

Frequently Asked Questions

Can I open a bank account without a Social Security number?

Yes. If you have an ITIN (Individual Taxpayer Identification Number), most banks and credit unions will accept it instead. Bring the IRS letter that came with your ITIN. If you have neither, some institutions will work with you using other documents — call ahead to ask what they accept.

How much money do I need to open an account?

Many banks and credit unions let you open an account with no money at all. Some require a small opening deposit, usually $25 to $100. Call the institution before you visit to find out what they need.

What if I made a mistake with a bank before and they closed my account?

Banks report account closures to a system called ChexSystems. Some banks will not open an account for you if you are in that system. Credit unions are often more willing to work with people in this situation. Call a few credit unions in your area and explain what happened — many will still open an account for you.

Can I open an account online if I do not have a computer?

You can open an account on a smartphone using the bank's app, or you can visit a branch in person. You do not need a computer. If you do not have a smartphone, visiting a branch is your best option.

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

You can usually start using your account the same day or the next business day. Your debit card will arrive in the mail within 5 to 10 business days. Online banking access is usually available within 24 hours.