What you need to open a bank account

Opening a bank account takes about 15 to 30 minutes and requires two things: proof of who you are, and proof of where you live. You will also need money to put in the account — most banks require an opening deposit, though the amount varies from $0 to $300 depending on the bank and the type of account.

Proof of identity means a government-issued ID. A driver's license, passport, or state ID card all work. If you do not have one of these, some banks will accept a tribal ID, a military ID, or a consular ID from your country of origin. Proof of address means a recent document showing your name and current street address — a utility bill, lease, or bank statement from another account will do. If you have just moved and do not have a document yet, a piece of mail from a government agency or a letter from your landlord can work.

You will also need a Social Security number or an Individual Taxpayer Identification Number (ITIN). If you do not have either, some banks offer accounts without them, though these accounts have limits on what you can do. Ask the bank directly whether they offer this option.

Key Takeaways

  • You need a government-issued ID, proof of your current address, and usually a Social Security number or ITIN to open an account.
  • Most banks let you open an account in person at a branch, by phone, or online — the fastest route depends on whether you have all your documents ready.
  • Opening deposits range from $0 to $300, and some accounts have monthly fees while others do not.
  • Once your account is open, the bank will give you a debit card and online access within one to five business days.
  • If you have had banking problems in the past, you can still open an account — look for banks that report to ChexSystems or use alternative banking programs.

Opening an account in person at a branch

Walking into a bank branch with your ID and proof of address is the most straightforward route if you have all your documents. Bring the originals, not copies — the bank needs to see them in person. Bring your Social Security number or ITIN written down, or your Social Security card itself. You do not need to call ahead.

A bank employee will ask you basic questions: your full name, date of birth, address, phone number, and employment status. They will look at your ID and address proof, then ask what type of account you want. For most people opening their first account, a checking account is the right choice — it lets you write checks, use a debit card, and pay bills online. A savings account is separate and earns a small amount of interest on the money you keep there, but you cannot use it to pay for things directly.

The bank will tell you the opening deposit amount and any monthly fees. You can pay the opening deposit with cash, a check, or a transfer from another account. Once you sign the paperwork, your account is open. You will get a debit card in the mail within one to five business days, and you can start using online banking right away.

Opening an account online or by phone

Many banks let you start the process online without visiting a branch. You will upload photos of your ID and proof of address using your phone or computer, answer the same questions, and choose your account type. The bank will then verify your information — this usually takes one to three business days.

Some banks finish the whole process online and mail you a debit card. Others ask you to visit a branch in person to complete the final step, even if you started online. A few banks use video calls with an employee instead of requiring a branch visit. When you are choosing a bank, ask whether you can finish everything without going to a branch, because the answer varies.

Opening by phone works similarly — you call the bank's customer service number, answer questions, and provide your information verbally. The bank will still need to see copies of your ID and address proof, so you will mail or upload those. Phone opening takes longer than in-person because of the mail time, but it works if you cannot reach a branch.

Choosing between banks and account types

Banks fall into two main categories: traditional banks with physical branches, and online-only banks. Traditional banks let you walk in, talk to someone, and deposit cash or checks at a teller window. Online-only banks have no branches, but they usually charge no monthly fees and pay higher interest on savings accounts. Which is better depends on whether you need to deposit cash regularly — if you do, a traditional bank or a credit union with branches is easier.

Within each bank, you will choose between a checking account and a savings account, or both. A checking account is for money you use regularly — paying bills, buying groceries, getting cash out. A savings account is for money you want to keep and grow. Many people open both at the same time, using checking for daily spending and savings for emergencies.

Before you open an account, look at the monthly fee. Some banks charge $10 to $15 per month if your balance falls below a certain amount, or if you do not set up direct deposit. Other banks charge nothing. For someone new to banking, a no-fee account is usually the better choice because you do not have to worry about accidentally triggering a charge.

What happens if you have had banking problems before

If you closed an account with a negative balance, bounced checks, or had fraud on an account, the bank may check your history using a system called ChexSystems. This is a database that tracks banking problems. Some banks will not open an account for someone with a ChexSystems record, but many will — it depends on the bank and how long ago the problem was.

If a bank turns you down, ask why. If it is because of ChexSystems, you can request your ChexSystems report for free at www.chexsystems.com. You can also dispute errors on that report. Some banks specialize in opening accounts for people with ChexSystems records — look for "second chance banking" or "fresh start" accounts. Credit unions often have fewer restrictions than large banks.

If you have never had a bank account before, ChexSystems will not be an issue. You can open an account at any bank that serves your area.

Setting up online access and your debit card

Once your account is open, the bank will give you a username and password for online banking. You can use this to check your balance, transfer money between your accounts, and pay bills online. Write down your username and password somewhere safe — not on a sticky note on your computer, but in a notebook you keep at home or in a password manager app.

Your debit card will arrive in the mail within one to five business days. When it arrives, you will need to set up it — the bank will send instructions in the mail or you can call the number on the back of the card. Once it is activated, you can use it to buy things, get cash from an ATM, or pay bills online. You will also get a PIN (personal identification number) that you use at ATMs and sometimes in stores.

Keep your debit card and PIN private. Do not share your PIN with anyone, including bank employees. If your card is lost or stolen, call the bank right away — they can cancel it and send you a new one.

Understanding fees and keeping your account active

Most banks charge a monthly maintenance fee if your balance drops below a certain amount, or if you do not set up direct deposit. The fee is usually $10 to $15 per month. Some banks waive the fee if you keep a minimum balance — often $500 or $1,000 — or if you have your paycheck deposited directly into the account.

Banks also charge fees for specific actions: overdraft fees if you spend more than you have, ATM fees if you use another bank's ATM, and wire transfer fees if you send money to another bank. When you open your account, ask the bank to explain all the fees. Many banks have a fee schedule you can read online.

To keep your account active, use it regularly — make deposits, write checks, or use your debit card at least once every few months. Banks can close accounts that sit unused for a long time, usually after six months to a year with no activity. If your account is closed, any money in it will be sent to you, but you will lose the account.

Frequently Asked Questions

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

Some banks will open an account if you have an ITIN instead. A few banks open accounts without either, though these accounts have restrictions — you may not be able to set up direct deposit or online bill pay. Call banks in your area and ask directly, because the rules vary by bank and by state.

How much money do I need to open an account?

Opening deposits range from $0 to $300 depending on the bank and account type. Many online banks require $0. Some traditional banks require $25 to $100. Ask the bank before you go in, so you know what to bring.

What if I do not have a government-issued ID?

Some banks will accept a tribal ID, military ID, or consular ID from your country of origin. A few will accept a state ID card even if it is expired. Call ahead and ask what the bank will take, because the rules vary. If no bank in your area will accept what you have, ask about opening an account with a co-signer — someone else with valid ID who will take responsibility for the account.

How long does it take to open an account?

In person at a branch, it takes 15 to 30 minutes. Online, it takes one to three business days for the bank to verify your information, then one to five more days for your debit card to arrive. By phone, it takes longer because of mail time for your documents.

Can I open an account if I do not have a permanent address?

Most banks require a current street address — a PO box does not work. If you are staying with someone temporarily, you can use their address as long as you live there. If you are unhoused, some banks and credit unions have programs for people without a permanent address — call ahead and explain your situation.