What you need before you walk in or go online

Most banks will ask for a government-issued photo ID, proof of your current address, and your Social Security number. The ID can be a driver's license, passport, or state ID card. For proof of address, bring a recent utility bill, lease, or mortgage statement — something dated within the last 60 days with your name and street address on it.

Some banks also ask for an initial deposit to open the account. This amount varies: some banks have no minimum, others require $25 to $300 depending on the account type. A few banks waive the minimum if you set up direct deposit of your paycheck. If you don't have an ID yet, some banks will work with you using alternative documents — a passport card, tribal ID, or consulate-issued ID — but call ahead to confirm what they accept.

If you're opening an account for a child under 18, you'll need to be present as a parent or legal guardian, and you'll both need ID. The child doesn't need their own Social Security number if they're under 13, but you'll provide yours instead.

Key Takeaways

  • Bring a government photo ID, proof of your current address dated within 60 days, and your Social Security number to open an account in person or online.
  • Some banks require an opening deposit of $25 to $300, while others have no minimum; ask before you go in.
  • You can open an account online with most major banks in 10 to 15 minutes, or in person at a branch in about 30 minutes.
  • Once your account is open, you'll receive a debit card in 7 to 10 business days and can start using it when ready online or by phone.
  • If you have a history of overdrafts or fraud reported to ChexSystems, some banks will decline you, but others specialize in second-chance accounts.

Opening an account online versus in person

Online accounts are faster and require no trip to a branch. You upload photos of your ID and address proof, enter your information, and the bank verifies it electronically. Most online accounts are ready to use within 10 to 15 minutes, though your debit card arrives by mail in 7 to 10 business days. Until then, you can transfer money in and out, set up direct deposit, and use a temporary card number for online purchases if the bank offers one.

Opening in person at a branch takes about 30 minutes. A banker walks you through the paperwork, answers questions on the spot, and you leave with a temporary debit card you can use when ready. This route works better if you prefer talking to someone, have an unusual situation (no fixed address, no standard ID), or want to deposit cash right away. Some banks offer both options — you can start online and finish at a branch if you change your mind.

A few banks operate only online and have no physical branches. These typically have lower fees and higher interest rates on savings accounts, but you cannot deposit cash in person. If you need to deposit checks or cash regularly, a bank with branches or a partner network of ATMs matters more.

What happens after you open the account

Once the account is open, the bank assigns you an account number and routing number. You'll see these in your online banking portal or on your first statement. Your routing number is the same for all customers at that bank; your account number is unique to you. You need both to set up direct deposit of your paycheck or to receive wire transfers.

Your debit card arrives by mail within 7 to 10 business days. Some banks send it activated and ready to use; others require you to set up it by calling a number or using the mobile app. Once activated, you can use it at any ATM with that bank's logo or at any store that accepts Visa or Mastercard, depending on which network your bank uses.

You can also start using your account before the card arrives. Most banks let you transfer money between accounts, set up bill pay, or receive direct deposit using just your account and routing numbers. If you need cash before the card comes, you can withdraw from any ATM at your bank's branches or partner network.

Banks that work with people who have banking history problems

If you've had overdrafts, bounced checks, or fraud reported to ChexSystems (a banking history database), some mainstream banks will turn you down. But second-chance banking accounts exist specifically for this situation. Banks like Chime, LendingClub, and some credit unions offer accounts to people with ChexSystems records, usually with lower fees and no overdraft charges.

Before you explore anywhere, you can check your own ChexSystems record for free at chexsystems.com. If there's an error — a closed account still showing as open, or fraud you didn't commit — you can dispute it directly with ChexSystems and ask the bank to reconsider. Disputes usually resolve within 30 days.

If you've never had a bank account, you have no ChexSystems record at all, and most banks will open an account for you without issue. Being new to banking is not a barrier.

Choosing between checking and savings accounts

A checking account is for money you use regularly. It comes with a debit card and check-writing ability, and you can make unlimited deposits and withdrawals. Most checking accounts have no monthly fee if you maintain a minimum balance (often $500 to $1,500) or set up direct deposit. Some banks charge $10 to $15 per month if you don't meet those conditions.

A savings account is for money you want to keep separate and grow. It earns interest — the rate varies from nearly 0% at big banks to 4% to 5% at online banks, depending on the current market. Savings accounts limit you to six withdrawals per month (a federal rule that was suspended during the pandemic but can be enforced again). You cannot use a debit card on savings accounts; you transfer money out when you need it.

Most people open both at the same bank. You use checking for daily spending and bills, and savings as a buffer for emergencies or goals. Some banks let you open both in one session; others require you to open checking first and add savings later. Ask when you start the process.

Fees to watch for and how to avoid them

Monthly maintenance fees are the most common. These run $5 to $15 per month and are waived if you maintain a minimum balance, set up direct deposit, or keep a certain number of transactions per month. Read the fee schedule before you open the account — it's usually on the bank's website under "Pricing" or "Fees."

Overdraft fees occur when you spend more than you have in the account. A single overdraft can cost $25 to $35. Some banks charge multiple overdraft fees in a single day if you make several transactions while overdrawn. You can opt out of overdraft protection, which means transactions will be declined instead of charging you a fee — a safer choice if you're on a tight budget.

ATM fees explore when you use an ATM that doesn't belong to your bank's network. These typically cost $2 to $3 per withdrawal. Choose a bank with a large ATM network or one that reimburses out-of-network fees. Online banks often reimburse ATM fees nationwide, which can save money if you travel or live far from branches.

Wire transfer fees, check-printing fees, and foreign transaction fees exist but only matter if you use those services. Don't pay for features you won't use.

What to do if a bank declines you

If a bank says no, ask why. Common reasons are a ChexSystems record, unpaid overdrafts at another bank, or an error in your ID or address. If it's a ChexSystems issue, check your record and dispute any errors. If it's unpaid overdrafts, you may need to pay them off before another bank will take you — contact the old bank and ask what you owe.

Credit unions often have more flexible policies than big banks and may open an account for you even with a ChexSystems record. You typically need to live or work in a specific area or belong to a certain group to join a credit union, but membership is usually free or very cheap. Search for credit unions in your area at co-opsharedbranch.org to find one that serves you.

If you're declined everywhere, a second-chance account at a bank like Chime or LendingClub is your next step. These accounts have higher fees but are designed for people in your situation and usually approve you within hours.

Frequently Asked Questions

Do I need a job or income to open a bank account?

No. Banks do not require proof of income or employment to open a checking or savings account. They ask for ID and address to verify who you are, not to confirm you have money coming in. You can open an account with zero dollars and deposit money later.

Can I open an account if I don't have a permanent address?

Some banks require a street address and will not accept a PO box. Others accept a shelter address, a friend's address, or a care-of address if you explain your situation. Call the bank before you go in and tell them your circumstances — many have workarounds, and some staff are trained to help people experiencing homelessness.

What if I'm under 18 — can I open my own account?

No, not alone. You need a parent or legal guardian to open a joint account with you. Once you turn 18, you can open your own account independently. Some banks let you transition a joint account to your name only on your 18th birthday without closing and reopening it.

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

You can use it when ready for transfers, bill pay, and direct deposit. Your debit card arrives in 7 to 10 business days. If you need cash before then, withdraw from an ATM at your bank's branches or partner network using your temporary card number or account details.

What if I want to close the account later?

Call the bank or visit a branch and ask to close the account. They'll ask where your remaining balance should go — usually a check or transfer to another account. There's no fee to close an account. Make sure you've paid any outstanding checks or automatic payments before you close it, or they may bounce.