Yes, you can open many bank accounts entirely online

Most online banks and many traditional banks let you open a checking or savings account from your computer or phone without visiting a branch. The process usually takes 10 to 20 minutes. You will need a government-issued ID, a Social Security number or tax ID, and a way to fund the account — either a debit card, another bank account, or sometimes a wire transfer.

Not every bank offers online account opening, and not every account type can be opened this way. Some banks still require you to visit in person, especially if you are opening a business account or if you have had banking problems in the past. Before you start, check the bank's website to confirm that online opening is available for the specific account you want.

Key Takeaways

  • Online banks and most large traditional banks let you open a checking or savings account from home using your ID and Social Security number.
  • The process typically takes 10 to 20 minutes and you can start using your account the same day or within one business day.
  • You will need to fund your new account with a debit card, another bank account, or a wire transfer — the bank will tell you which methods it accepts.
  • Some banks still require an in-person visit for certain account types or if you have previous banking issues on your record.
  • Online banks often have lower fees and higher interest rates than branch banks, but they have no physical location if you need to deposit cash or speak to someone in person.

What documents and information you need to have ready

Before you start the online process, gather these items: a government-issued photo ID (a driver's license, passport, or state ID card), your Social Security number, and your current address. The bank will ask you to verify your identity by uploading a photo of your ID or answering security questions based on your credit history.

You will also need a way to fund the account. Most banks accept a debit card from another bank, or you can transfer money from an existing checking or savings account. Some banks accept wire transfers, but that method is less common for new account funding. A few online banks let you mail in a check, but this is slower and less common now.

Have your employer's name and address handy if the bank asks about your income. You do not need to prove your income with documents — the bank is usually just confirming that you have a source of funds.

How the online account opening process works, step by step

Start on the bank's website or mobile app and look for a button that says "Open an Account" or "get your free guide." The bank will ask you to choose the type of account — checking, savings, or both. Then you will enter your personal information: name, date of birth, address, phone number, email, and Social Security number.

Next, the bank will ask you to verify your identity. This usually happens one of two ways. Some banks let you upload a photo of your ID using your phone camera. Others ask you security questions based on your credit history — these are questions only you should know the answer to, like "Which of these addresses have you lived at?" or "Which of these is a former employer?" You answer a few of these questions correctly and the bank confirms your identity.

After identity verification, you will create a username and password, set up security questions, and choose how you want the bank to contact you (email, text, or phone). Then you will fund the account by entering a debit card number or linking another bank account. The bank may place two small deposits (usually under $1 each) into your linked account to confirm it is really yours — you will need to tell the bank the amounts of these deposits to complete the link.

Once you finish, the bank will give you your account number and routing number. You can usually start using your account the same day, though some banks wait until the next business day to set up it.

The difference between online banks and traditional banks with online opening

Online banks exist only on the internet — they have no physical branches. They typically charge lower fees, pay higher interest on savings, and have simpler account structures. The trade-off is that you cannot deposit cash in person or speak to someone face-to-face. If you need to deposit a check, you can usually photograph it with your phone and upload it through the app. If you need cash, you can withdraw it from ATMs that are part of the bank's network, or from any ATM if the bank reimburses ATM fees.

Traditional banks with online opening have physical branches where you can visit, deposit cash, and talk to a banker in person. They often charge higher monthly fees than online banks, but they may pay lower interest on savings. If you think you will need to visit a branch regularly or deposit cash often, a traditional bank might be a better fit. If you rarely use branches and want lower fees, an online bank is usually the better choice.

Some people use both: an online bank for everyday checking and savings, and a local branch bank for cash deposits or when they need to speak to someone in person.

What happens if the bank declines your online process

Banks use a system called ChexSystems to check your banking history. If you have had accounts closed due to unpaid fees, written bad checks, or fraud, the bank may decline your process. You can also be declined if you have a very recent bankruptcy or if you owe money to another bank.

If your process is declined, the bank should tell you why — either directly or by directing you to check your ChexSystems report. You can view your ChexSystems report for free at www.chexsystems.com. If there is an error on your report, you can dispute it with ChexSystems.

If you are declined by one bank, you have other options. Some banks specialize in accounts for people with banking history issues — these are sometimes called "second chance" accounts. They may have higher fees or lower account limits, but they are designed for people in your situation. You can also try a credit union, which sometimes has more flexible policies than banks.

When you will need to visit a branch in person instead

Most checking and savings accounts can be opened online, but some account types cannot. Business accounts, trust accounts, and accounts for minors usually require an in-person visit. If you are opening an account as a representative of a business or organization, the bank will likely ask you to come in and bring business documents.

If you have been flagged by the bank's fraud detection system — for example, if you are explore from a different country than where you normally live — the bank may ask you to visit a branch or provide extra documents before opening your account online.

If your online process is declined and you want to appeal the decision, some banks will let you do this in person at a branch. Bringing documents like proof of income or a letter explaining your banking history can sometimes help reverse a decline.

How long it takes to use your new account

Once you finish the online process, your account is usually active within a few minutes to one business day. You will receive your account number and routing number when ready, so you can set up direct deposit or start receiving transfers right away.

If you funded your account with a debit card, that money usually appears within one to three business days. If you linked another bank account and transferred money, it typically takes one to three business days as well. Some banks offer faster transfers for an extra fee, but most do not charge for standard transfers.

If the bank placed two small test deposits into your linked account to verify it, you will need to tell the bank the amounts before the link is fully confirmed. This usually takes one business day after the deposits appear.

Frequently Asked Questions

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

Most banks require a Social Security number or an Individual Taxpayer Identification Number (ITIN). If you have an ITIN, you can usually open an account online using it instead. Some banks also accept a passport number. Call the bank before you start the process to confirm what forms of ID they will accept.

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

Most banks require a government-issued photo ID to open an account online. If you do not have one, you will likely need to visit a branch in person. Some banks may accept a passport or other government document. Contact the bank directly to ask what alternatives they offer.

Can I open an account online if I have had problems with banks before?

It depends on what happened. If you have unpaid fees or a closed account on your ChexSystems report, some banks will decline your online process. You may be able to open an account in person at a branch, or you can look for banks that specialize in second chance accounts. Check your ChexSystems report first to see what is on record.

Do I have to fund my account when ready when I open it online?

Most banks require you to fund your account during the online opening process, but the amount varies. Some banks require a minimum deposit of $25 or $50, while others have no minimum. A few banks let you open an account without funding it when ready, but this is less common. Check the bank's website to see what it requires.

Can I change my mind and close the account right after opening it?

Yes. You can close an account at any time, usually through the bank's website or app, or by calling customer service. If you funded the account and then close it, the bank will return your money. There is no penalty for closing a new account quickly, though some banks may charge a fee if you close it within a certain period — check the account terms to be sure.