What you need before you walk in

You need two things to open a bank account: proof of identity and proof of address. Most banks will accept a driver's license or passport for identity. For address, bring a recent utility bill, lease, or mortgage statement — something dated within the last 60 days with your name and current address on it.

Some banks also ask for a Social Security number or Individual Taxpayer Identification Number (ITIN). If you don't have either, certain banks and credit unions will open accounts using an alternative ID number instead, though this varies by institution. Call ahead and ask what documents your specific bank accepts.

Bring a small opening deposit if the bank requires one. This amount varies widely — some banks have no minimum, others ask for $25 or $100. A few require $500 or more for certain account types. Check the bank's website or call to confirm the minimum before you go.

Key Takeaways

  • You need a government-issued ID and a recent utility bill or lease showing your current address to open an account at most banks.
  • The opening deposit requirement ranges from zero to several hundred dollars depending on the bank and account type — confirm this before you arrive.
  • The entire process usually takes 15 to 30 minutes in person, or 10 to 20 minutes online if you choose a digital bank.
  • Once your account is open, you will receive a debit card within 7 to 10 business days and can start using online banking when ready.
  • Some banks charge monthly fees; others waive them if you maintain a minimum balance or set up direct deposit.

Opening an account in person at a branch

Walk into any branch of the bank you've chosen with your ID, address proof, and opening deposit. Tell the person at the desk you want to open a checking or savings account — or both. They will ask you questions about how you plan to use the account: whether you expect direct deposits, how often you'll withdraw cash, whether you want overdraft protection.

The banker will show you the account options available and explain the fees. Some checking accounts charge $12 a month; others are free if you keep a $500 balance or receive at least one direct deposit per month. Read the fee schedule before you sign anything. This document is called the Deposit Account Agreement or Account Terms and Conditions, and it lists every fee the bank can charge you.

You'll sign the agreement, provide your Social Security number or ITIN, and hand over your opening deposit. The banker will give you a receipt and tell you when your debit card will arrive — usually 7 to 10 business days. You can use online banking and transfers when ready, even before the card shows up.

Opening an account online

Many banks and most online-only banks let you open an account entirely on their website. You'll upload photos of your ID and address proof, enter your Social Security number or ITIN, and choose your account type. The process takes 10 to 20 minutes.

Some online banks fund your account when ready; others wait 1 to 3 business days to verify your identity before they set up it. During that wait, you can set up online banking and transfers, but you won't be able to move money in or out. Once the account is active, you can transfer money from another bank account to fund it, or wait for your debit card to arrive.

Online banks have lower overhead costs than branch banks, so they often charge no monthly fees and pay slightly higher interest on savings accounts. The trade-off is that you cannot deposit cash or speak to someone in person — you can only bank online or by phone.

What happens after you open the account

Your bank will assign you an account number and routing number. The routing number is the same for all accounts at that bank; the account number is unique to you. You'll need both to set up direct deposit with your employer, to receive wire transfers, or to pay bills by bank transfer.

Your debit card will arrive in the mail within 7 to 10 business days. When it arrives, you'll set up it by calling the number on the back or using the bank's app. Some banks ask you to set a PIN; others let you choose whether to use a PIN or sign for purchases.

Log into online banking as soon as your account is open. Set up a strong password — at least 12 characters, mixing letters, numbers, and symbols. Many banks offer two-factor authentication, which sends a code to your phone when you log in from a new device. Turn this on for security.

Monthly fees and how to avoid them

Most banks charge a monthly maintenance fee ranging from $5 to $15, though many waive it if you meet certain conditions. The most common conditions are: maintaining a minimum balance (often $500 to $1,500), receiving at least one direct deposit per month, or having a linked savings account at the same bank.

Some banks charge additional fees for specific actions: overdrafts (when you spend more than you have), out-of-network ATM withdrawals, wire transfers, or paper statements. Read the fee schedule before you open the account. If you think you'll overdraw occasionally, ask whether the bank offers overdraft protection — a linked savings account or credit line that covers the shortfall automatically.

If you don't meet the waiver conditions, you'll pay the monthly fee. This is not a penalty; it's how the bank makes money on accounts that don't generate enough activity. If the fee bothers you, switch to a bank with no monthly fee, or change your banking habits to meet the waiver requirement.

Choosing between checking and savings

A checking account is for money you spend regularly. It comes with a debit card and checkbook, unlimited deposits and withdrawals, and online bill pay. Most checking accounts pay little or no interest on your balance.

A savings account is for money you want to keep and grow. It limits you to six withdrawals per month (though this rule is loosely enforced), pays interest on your balance, and usually has no debit card. Interest rates vary — currently ranging from 0.01% to 5% depending on the bank and the account type.

Most people open both: a checking account for daily spending and a savings account for an emergency fund or short-term goals. Some banks offer a combined package with both accounts and waive fees if you maintain a minimum balance across both together.

Special situations: no ID, no address, or bad credit

If you don't have a government-issued ID, some banks will accept a passport card, tribal ID, or state ID card. If you have none of these, credit unions are more flexible — many will open accounts using an ITIN and a letter from a government agency confirming your address.

If you don't have a recent utility bill or lease, bring a bank statement from another account, a tax return, or a letter from your employer on company letterhead. Some banks accept a notarized letter from a friend or family member confirming your address.

Bad credit does not prevent you from opening a bank account. Banks do not check your credit score for checking or savings accounts. However, they do check ChexSystems, a database of banking history. If you've had accounts closed for overdrafts or fraud, some banks will decline you. Credit unions and online banks are often more willing to work with people who have been declined elsewhere.

Frequently Asked Questions

How long does it take to open a bank account?

In person, 15 to 30 minutes. Online, 10 to 20 minutes, though the bank may take 1 to 3 business days to verify your identity before the account is fully active. You can use online banking when ready in most cases, even while waiting for verification.

Can I open an account with just a passport?

Yes, a passport counts as government-issued ID at most banks. You'll still need proof of address — a utility bill, lease, or mortgage statement dated within the last 60 days. If you don't have a recent bill, bring a bank statement or letter from your employer.

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

You can use an ITIN (Individual Taxpayer Identification Number) instead. Some banks require one or the other; others will open an account using an alternative ID number. Call the bank ahead of time to confirm what they accept.

Do I have to use the bank's debit card, or can I just use online transfers?

You don't have to use the debit card. You can pay bills online, transfer money to other accounts, and receive direct deposits without ever using the card. The card is optional — some people keep it at home for emergencies only.

What's the difference between a bank and a credit union?

Banks are for-profit companies; credit unions are member-owned nonprofits. Credit unions often charge lower fees and pay higher interest on savings, but they may have fewer branches and ATMs. Both are insured by the federal government up to $250,000 per account.