You can open a checking or savings account online with most major banks, credit unions, and online-only banks without visiting a branch

The process takes 10 to 20 minutes on a computer or phone. You'll need a government ID, a Social Security number or ITIN, and proof of your current address. Most banks fund your account within one to three business days, though some let you start using it the same day.

The main difference between providers is what they charge, what features they include, and how quickly you can access your money. Some banks have monthly fees; others don't. Some require a minimum opening deposit; others don't. Online-only banks usually have lower fees and higher interest rates on savings, but no physical branch if you need to deposit cash or talk to someone in person.

Key Takeaways

  • Major banks like Chase, Bank of America, and Wells Fargo let you open accounts online, but credit unions and online-only banks often have lower fees and better interest rates.
  • You will need a government-issued ID, your Social Security number, and proof of address—usually a recent utility bill or lease—to complete the process.
  • Most accounts are ready to use within one to three business days, though some banks set up them when ready for online transfers.
  • Online-only banks have no physical branches, so you cannot deposit cash in person, but they typically charge no monthly fees and pay higher interest on savings.

What you need before you start

Have these documents ready before you begin: a valid government ID (driver's license, passport, or state ID card), your Social Security number or ITIN, and proof of your current address. A recent utility bill, lease agreement, or bank statement works for the address. The bank will ask for your name, date of birth, and contact information.

Some banks also ask about your employment status and income, though this is not required to open an account. If you have had banking problems in the past—overdrafts you did not pay back, accounts closed by the bank—some banks will check ChexSystems, a database that tracks banking history. This does not prevent you from opening an account, but it may limit which banks will take you.

Major banks with online account opening

Chase lets you open a checking or savings account online in about 10 minutes. You can start using your account the same day for transfers, but you cannot withdraw cash until your debit card arrives in the mail. Chase has monthly fees on some accounts ($12 for basic checking) but waives them if you maintain a minimum balance or set up direct deposit.

Bank of America opens accounts online and lets you use your account when ready for transfers and bill pay. Their basic checking account has a $12 monthly fee, waived if you keep $1,500 in the account or set up direct deposit. They have physical branches nationwide, which is useful if you need to deposit cash or speak to someone in person.

Wells Fargo opens accounts online with no monthly fee on their basic checking account. You can use the account when ready for transfers, but cash deposits require a branch visit or an ATM that accepts deposits. Wells Fargo has the most ATMs of any bank in the United States, which matters if you use cash regularly.

Credit unions and online-only banks

Credit unions are member-owned and often have lower fees and better interest rates than large banks. Many credit unions let you open an account online, though some require an initial membership fee ($5 to $25) and a small opening deposit ($25 to $100). You can find credit unions near you through CO-OP, a network that lets credit union members use each other's ATMs and branches.

Online-only banks like Ally, Charles Schwab, and Marcus have no physical locations but charge no monthly fees and pay higher interest on savings accounts. Ally's checking account has no monthly fee and no minimum balance. Marcus offers a savings account with no fees and no minimum. Charles Schwab's checking account has no fees and no minimum, and they reimburse ATM fees nationwide, which is useful if you travel or live far from their partner banks.

The trade-off with online-only banks is that you cannot deposit cash in person. If you receive cash regularly and need to deposit it, you will need a second account at a bank with branches, or you can deposit cash at an ATM that accepts deposits (some Walmart locations and CVS pharmacies have these).

How the online opening process works

Start on the bank's website or mobile app and look for "Open an Account" or "New Customer". You will enter your personal information, including name, date of birth, address, phone number, and email. The bank will ask for your Social Security number and will run a soft credit check—this does not affect your credit score.

Next, you will verify your identity. Most banks do this by asking security questions based on your credit history, or by taking a photo of your ID with your phone camera. Some banks send a code to your email or phone that you enter to confirm it is really you. This step usually takes two to five minutes.

Then you choose which type of account you want (checking, savings, or both) and review the terms. You will see the monthly fee, if any; the interest rate on savings; and the minimum balance required, if any. Once you agree, the bank will ask how you want to fund the account. You can link an existing bank account and transfer money, or wait for your debit card to arrive and deposit cash at an ATM.

When your account is ready to use

Some banks set up your account when ready for transfers and bill pay, but you cannot withdraw cash until your debit card arrives—usually five to seven business days. Other banks wait until they have verified your identity fully, which can take one to three business days. A few banks let you use a temporary digital debit card on your phone the same day you open the account.

Once your account is open, you will receive a routing number and account number. You can use these to set up direct deposit from your employer or to transfer money from another bank. Your debit card will arrive in the mail separately, usually within five to ten business days. Some banks let you order a replacement card or a second card through their app.

What happens if you are denied

Banks rarely deny an account outright, but some will refuse if you have unpaid overdrafts or fraud on your record. If a bank denies you, ask why. They are required to tell you. Common reasons are a negative ChexSystems report, unpaid fees at another bank, or a history of fraud. You can dispute errors on your ChexSystems report by contacting the company directly.

If you are denied by major banks, try a credit union or an online-only bank. They often have fewer restrictions and may take you even if you have had banking problems. Some banks also offer second-chance checking accounts specifically for people with negative banking history, though these may have higher fees or require a larger opening deposit.

Frequently Asked Questions

Can I open an account if I do not have a Social Security number?

Yes. You can use an ITIN (Individual Taxpayer Identification Number) instead. Some banks ask for it upfront; others will accept an account without one and ask for it later. Call the bank before you start if you are unsure whether they accept ITINs.

Do I have to make a deposit when I open the account?

Most banks do not require an opening deposit. You can open the account and fund it later by transferring money from another bank or depositing your paycheck. A few banks offer incentives—$100 to $300—if you open an account and meet certain conditions, like setting up direct deposit.

What if I do not have proof of address?

Call the bank and ask what documents they accept. Some will take a lease agreement, utility bill, or government mail. Others may accept a bank statement or insurance document. If you have none of these, some banks will accept a phone bill or a letter from a government agency with your name and address.

How long does it take to receive my debit card?

Most banks mail debit cards within five to ten business days. Some banks let you order an expedited card for a fee ($10 to $25) and will deliver it in two to three business days. A few banks offer a temporary digital card on your phone the same day you open the account.

Can I open multiple accounts at the same bank?

Yes. You can open a checking account and a savings account at the same bank, or multiple accounts of the same type if you want to separate your money for different purposes. There is no limit, though some banks may ask why you want multiple accounts.