The simplest online accounts to open are those from online-only banks, which usually take 5 to 10 minutes and need only an ID, Social Security number, and initial deposit

Online-only banks like Chime, Marcus, and Ally have the fewest barriers because they have no physical branches to staff and no legacy systems to maintain. They ask for the essentials — your name, address, date of birth, Social Security number, and a government-issued ID you can photograph or upload — then fund the account from another bank or by mail. No appointment. No waiting room. No banker deciding whether to let you in.

Traditional banks with physical branches (Chase, Bank of America, Wells Fargo) also let you open accounts online, but they often require an initial deposit of $25 to $300 and may place a hold on your funds for several days. Some still ask you to visit a branch within 30 days to verify your identity in person, which defeats the purpose if you are trying to avoid that step.

The trade-off is straightforward: online-only banks are faster and have lower minimums, but they have no teller to call if something goes wrong. Traditional banks are slower to open but have a physical location you can walk into. For pure speed and ease, online-only wins.

Key Takeaways

  • Online-only banks like Chime, Marcus, and Ally take 5 to 10 minutes to open and require only an ID, Social Security number, and proof of address.
  • You can fund most online accounts when ready from another bank account, or by mailing a check, without waiting for a branch appointment.
  • Traditional banks with branches also offer online opening but often require higher minimum deposits and may ask you to visit in person within 30 days.
  • Online-only banks have no physical location to visit if you need help, so read the account terms and customer service hours before you open.

What you need to open an account online

Every bank needs the same core information: your full legal name, date of birth, Social Security number, and current address. Have these ready before you start. You will also need a government-issued ID — a driver's license, passport, or state ID card — that you can photograph or upload.

Some banks ask you to verify your address by uploading a recent utility bill, lease, or mortgage statement. Others accept the address you provide during signup. A few ask you to link an existing bank account so they can make two small deposits and withdrawals to confirm you own it — this takes an extra day or two but proves you are who you say you are without needing documents.

Have your initial deposit ready. Online-only banks often have no minimum or ask for as little as $1. Traditional banks may require $25 to $300. You can transfer money from another account, mail a check, or (at some banks) deposit a check by photograph.

How the online opening process actually works

Start on the bank's website or app. You will fill in your personal information, choose the type of account (checking, savings, or both), and answer questions about your employment and income. These questions are required by federal law, not because the bank is being nosy — they are part of anti-money-laundering rules.

Next comes identity verification. Some banks use a service like Socure or IDology that reads your ID photograph and checks it against public records. Others ask you to answer security questions based on your credit history. A few still ask you to visit a branch or have a video call with a banker, which slows things down but is rare for online-only banks.

Once you pass verification, you fund the account. If you link an existing bank account, the transfer happens in 1 to 3 business days. If you mail a check, add 5 to 10 business days. Some banks let you start using the account when ready; others wait until the deposit clears. Read the confirmation email to see which applies to you.

Online-only banks versus traditional banks with online opening

Online-only banks (Chime, Marcus, Ally, Discover, Charles Schwab Bank) have no branches, so they move fast and keep fees low. They typically have no monthly maintenance fee, no minimum balance, and no requirement to visit in person. The catch: if something goes wrong, you cannot walk into a location. You call, email, or use the app. Most have 24/7 phone support, but response times vary.

Traditional banks (Chase, Bank of America, Wells Fargo, Citibank) have branches you can visit, which helps if you need to deposit cash or talk to someone face-to-face. But they often charge monthly fees ($12 to $15) unless you keep a minimum balance or set up direct deposit. Many require you to visit a branch within 30 days of opening online, which adds friction. Some still will not let you open certain accounts online at all.

A middle ground exists: credit unions and community banks that offer online opening but have a physical location. These are smaller and vary widely in their process, so call ahead or check their website to see what they require.

Banks that are genuinely fast to open

Chime takes about 2 minutes. You upload your ID, answer a few questions, and the account is ready. No minimum deposit. You can start using a temporary card number when ready while you wait for the physical card.

Marcus by Goldman Sachs takes about 5 minutes for a savings account. It is designed for people who want a straightforward place to save money, not a checking account with a debit card. No monthly fee, no minimum balance.

Ally Bank takes about 10 minutes. You need a Social Security number and a government ID. No minimum deposit, no monthly fee. You can transfer money from another bank or mail a check.

Discover Bank takes about 10 minutes. Like Ally, it has no minimum, no monthly fee, and lets you link an existing account to fund it. Customer service is available by phone 24/7.

Charles Schwab Bank takes about 15 minutes and is useful if you already have a Schwab brokerage account. No monthly fee, no minimum balance, and you can deposit checks by photograph.

What slows down the process

Identity verification is the main bottleneck. If the bank's automated system cannot read your ID clearly or match your information to public records, a human has to review it. This can add a day or two. Upload a clear, well-lit photo of your ID and make sure the name and address you provide match exactly what is on your ID and any documents you upload.

Funding the account also takes time if you mail a check. Some banks process mailed checks in 5 to 10 business days; others take longer. If you have access to another bank account, transfer is faster — usually 1 to 3 business days, sometimes same-day.

A few banks still require a video call or in-person visit to verify your identity. This is less common for online-only banks but still happens at some traditional banks. Check the bank's website or call before you start the process to see if this applies to you.

What happens if you do not have a Social Security number

Most banks require a Social Security number or Individual Taxpayer Identification Number (ITIN). If you have neither, your options narrow. Some credit unions and community banks will open accounts with a passport and proof of address instead, but you will need to call and ask — they do not advertise this online.

A few online banks, like Wise and Remitly, are designed for people without a U.S. Social Security number, but they focus on international transfers rather than everyday checking. If you are new to the U.S. banking system and do not yet have a Social Security number, a local credit union is usually your best bet. Visit in person with your passport and proof of address.

Frequently Asked Questions

Can I open an account if I have been denied before?

Banks check ChexSystems, a database of banking history. If you were denied in the past, you can still open an account at banks that do not use ChexSystems or that are more lenient — Chime and some credit unions are known for this. Call the bank and ask whether they check ChexSystems before you explore.

How long until I can use my debit card?

Most online banks issue a temporary card number you can use when ready for online purchases. The physical card arrives in 5 to 10 business days. Some banks let you use the account before the card arrives by transferring money out or setting up bill pay.

What if I need to deposit cash?

Online-only banks have no tellers, so you cannot deposit cash at a branch. Some partner with ATM networks or retail locations (Chime partners with Walgreens and CVS) where you can deposit cash. Others require you to transfer money from another account. Check the bank's website for their cash deposit options before you open.

Do I need a minimum balance to keep the account open?

Most online-only banks have no minimum balance requirement. Traditional banks often do — sometimes $500 or more — or they waive the fee if you set up direct deposit. Read the account terms before you open to see what applies.

Can I open more than one account at the same bank?

Yes. You can open a checking account and a savings account at the same bank, and many banks let you do this in one session. Some people open multiple savings accounts to separate money for different goals. There is no limit, but each account counts toward your bank's fraud detection, so be prepared to verify your identity again.