What you need to open a bank account

You can open a bank account in person at a branch, online through a bank's website, or sometimes by phone. Most banks require two things: a government-issued photo ID and a Social Security number or Individual Taxpayer Identification Number (ITIN). Some banks also ask for a second form of ID, like a utility bill or lease showing your current address.

The process takes between 15 minutes in a branch and a few days online, depending on the bank. You'll choose what type of account you want — usually a checking account, savings account, or both — and decide on initial deposit requirements. Many banks have no minimum deposit, though some require $25 to $100 to open.

If you don't have a photo ID, you can still open an account at some banks and credit unions, but the process is slower and may require additional documents like a birth certificate or passport. Call ahead to ask what your specific bank accepts.

Key Takeaways

  • You need a government photo ID and a Social Security number or ITIN to open most bank accounts.
  • Opening an account takes 15 minutes to a few days depending on whether you go in person or online.
  • Many banks have no minimum deposit requirement, though some ask for $25 to $100 to start.
  • If you lack a photo ID, credit unions and some banks offer alternatives, but you'll need to call and ask first.
  • Checking accounts let you write checks and use debit cards; savings accounts earn interest but limit withdrawals.

Opening an account in person at a branch

Walk into any branch of a bank or credit union with your photo ID and Social Security number or ITIN. Tell a teller or banker you want to open an account. They'll ask you to choose between checking, savings, or both, and will explain the fees and features of each option.

You'll fill out a form with your name, address, phone number, and date of birth. The banker will verify your ID and run a check through ChexSystems, a database that tracks banking history. This check takes a few minutes and doesn't hurt your credit. If you pass, you can fund the account when ready with a debit card, cash, or a check, and you'll walk out with a debit card or temporary card number the same day.

Bring a second form of ID or proof of address if you have it — a utility bill, lease, or driver's license — because some banks ask for it. If you're opening an account for a child, bring their birth certificate and your ID as the parent or guardian.

Opening an account online

Most online banks and many traditional banks let you open an account entirely through their website. Go to the bank's homepage, click "Open an Account," and follow the steps. You'll enter your name, address, Social Security number or ITIN, and date of birth. You'll upload a photo of your ID — usually a driver's license or passport — and the bank will verify it using software that checks the ID's security features.

The verification process usually takes a few minutes to a few hours. Some banks ask you to answer security questions based on your credit history to confirm your identity. Once approved, you can fund the account by linking a bank account you already have, transferring money from another bank, or waiting for a check you mail in.

Online accounts usually take one to three business days to fully set up. You won't get a physical debit card when ready — most banks mail it to you within 7 to 10 business days, though some offer a temporary digital card you can use right away in apps like Apple Pay or Google Pay.

What happens if you don't have a photo ID

Some credit unions and community banks will open an account without a photo ID if you bring other documents. Common alternatives include a birth certificate, passport card, state ID card (non-driver), or a combination of documents like a utility bill plus a Social Security card. Call your local credit union or bank and ask what they accept — policies vary widely.

The process is slower without a photo ID. The bank may require you to come in person so a banker can verify your identity face-to-face, or they may ask you to have a notary witness your signature on the process. Some banks will not open accounts for people without a photo ID at all, so you may need to try multiple institutions.

If you're working toward getting a photo ID, your state's DMV can tell you what documents you need. Some states allow you to get a state ID card without a driver's license, and the process usually takes a few weeks.

Checking accounts versus savings accounts

A checking account is designed for frequent deposits and withdrawals. You can write checks, use a debit card, set up automatic bill payments, and move money in and out as often as you need. Most checking accounts have no limit on how many times you can withdraw money. Many checking accounts pay no interest on your balance, though some banks now offer small interest rates.

A savings account is designed to hold money and earn interest over time. The bank pays you a percentage of your balance each month or year. Federal law limits you to six withdrawals per month from a savings account, though this rule is enforced loosely. Savings accounts usually have lower fees than checking accounts and may have no monthly fee at all.

Most people open both: a checking account for daily spending and bills, and a savings account for emergency money or goals. Some banks offer a combined package with both accounts at one monthly fee.

Fees and features to compare

Banks charge different fees depending on the account. A monthly maintenance fee is the most common — it ranges from $0 to $15 per month, though many banks waive it if you keep a minimum balance or set up direct deposit. An overdraft fee is charged if you spend more money than you have in the account; this usually costs $25 to $35 per overdraft. Some banks charge a fee every time you use an out-of-network ATM.

Before opening an account, compare the fee structure of at least two banks. Many online banks have no monthly fee and no minimum balance requirement. Traditional banks often have higher fees but more physical branches and ATMs. Credit unions typically have lower fees than banks and may offer better interest rates on savings accounts.

Look at the interest rate on savings accounts too — it varies from nearly 0% at some banks to 4% or higher at online banks. Even a small difference adds up over time if you're saving money.

What to do after you open your account

Once your account is open, set up direct deposit if your employer or a government program sends you money. Direct deposit is free and moves money into your account automatically, usually one or two days before payday. You'll need to give your employer or the program your account number and routing number, which you can find on a check or in your online banking portal.

Set up online banking and a mobile app so you can check your balance, transfer money, and pay bills from your phone or computer. Create a strong password — at least 12 characters with letters, numbers, and symbols — and enable two-factor authentication if the bank offers it. This protects your account from fraud.

Review your account statement every month, either online or by mail. Look for charges you don't recognize and report them to the bank right away. If you see a fraudulent charge, the bank can usually reverse it within a few days.

Frequently Asked Questions

Can I open a bank account if I have bad credit?

Yes. Banks do not check your credit score when you open an account. They check ChexSystems, which tracks banking history like overdrafts and unpaid fees. If you have a history of overdrafts or closed accounts due to negative balances, some banks may deny you, but many will still open an account. Credit unions are often more flexible than large banks.

How much money do I need to open an account?

Most banks have no minimum deposit requirement. Some ask for $25 to $100 to open, but you can deposit that amount and then withdraw it when ready if you want. A few online banks require $0 to open. Check the specific bank's website or call to confirm.

Can I open an account for someone else?

You can open a joint account with another adult if you both go to the bank together with your IDs. You can open an account for a minor (usually under 18) as a parent or guardian, but the child's name will be on the account and they may have limited access until they turn 18. Some banks let you open a custodial account where you control the money until the child reaches a certain age.

What if the bank denies me?

Banks can deny you if you have unpaid fees at another bank, a history of fraud, or if ChexSystems shows serious problems. Ask the bank why you were denied — they must tell you. You can dispute errors on your ChexSystems report by contacting ChexSystems directly. Try a credit union or a second-chance banking program, which are designed for people with banking history problems.

Do I need to keep a minimum balance?

Most banks no longer require a minimum balance, though some charge a monthly fee if your balance drops below a certain amount. Online banks almost never have minimum balance requirements. Check your account agreement or ask the banker before you open the account.