What you need to bring and where to go

Opening a bank account takes one visit to a bank branch or credit union, or about 15 minutes online if you choose a digital bank. You will need a government-issued photo ID (a driver's license or passport), proof of your address (a recent utility bill or lease), and your Social Security number or Individual Taxpayer Identification Number. Some banks also ask for a second form of ID or proof of income, though this varies by institution.

You have three main routes: a traditional bank with physical branches, a credit union (a member-owned financial institution that often has lower fees), or an online-only bank. Traditional banks and credit unions let you walk in and open an account same-day. Online banks are faster to set up but you cannot deposit cash in person — you will need to transfer money from another account or use mobile check deposit once your account is open.

Start by choosing an institution. If you do not have a bank yet, look for one near your home or work, or search for banks and credit unions in your area online. Many people start with the bank their employer uses, or the one their family members use, because transfers between accounts at the same bank are when ready and free.

Key Takeaways

  • Bring a government photo ID, proof of your address, and your Social Security number or ITIN to open an account in person.
  • You can open an account at a bank branch, credit union, or online bank, and the process takes between 15 minutes and one business day depending on the type.
  • Most banks require an opening deposit, which ranges from zero dollars to several hundred dollars depending on the account type and institution.
  • Once your account is open, you will receive a debit card and checks within one to two weeks, and you can start using your account when ready through online banking or at an ATM.

What happens during your first visit

When you arrive at a bank branch or credit union, tell a staff member you want to open a checking or savings account. They will ask you questions about how you plan to use the account — whether you want to receive paychecks, pay bills, or save money — because different account types have different features and fees. Be honest about your needs. If you are not sure, a basic checking account is the most common choice for everyday banking.

The staff member will ask for your ID and proof of address, and they will enter your information into their system. They may ask about your employment, your income, or whether you have had banking problems in the past. This is routine. They are checking a database called ChexSystems, which tracks whether you have overdrawn accounts or written bad checks at other banks. If you have a history of problems, some banks will still open an account for you, but you may need to use a second-chance checking account, which has higher fees but fewer restrictions.

You will then choose whether to make an opening deposit. Many banks require a minimum opening deposit (often $25 to $100), though some have zero-dollar minimums. Ask what the minimum is before you commit. If you do not have cash on hand, some banks let you link an outside account and transfer money electronically instead.

Opening an account online

Online banks let you start the process from home. You will enter your personal information, upload photos of your ID and proof of address, and verify your identity through a video call or by answering security questions. The whole process usually takes 10 to 20 minutes. Your account opens when ready, and you can start using it to receive transfers or direct deposits right away.

The trade-off is that you cannot deposit cash online. If you receive a physical paycheck or need to deposit cash, you will have to transfer money from another account, use a mobile check deposit feature (which lets you photograph a check and deposit it through the bank's app), or visit a partner bank's ATM to deposit cash. Some online banks partner with retail stores like Walmart or CVS, where you can deposit cash at the customer service desk.

Online banks often have lower fees and higher interest rates on savings accounts because they do not pay for physical branches. If you are comfortable managing your money through an app and do not need to deposit cash often, an online bank can save you money over time.

Understanding account types and fees

A checking account is designed for everyday spending. You get a debit card and checks, and you can pay bills online. Most checking accounts have no monthly fee, though some charge $10 to $15 per month if you do not maintain a minimum balance or set up direct deposit. A savings account is for money you want to keep separate and grow through interest. Savings accounts have lower fees but limit how many times per month you can withdraw money.

Many people open both at the same time — a checking account for bills and daily expenses, and a savings account for emergencies or goals. Some banks offer a combined package that bundles both accounts with a lower total fee. Ask the staff member what accounts they recommend for your situation, and ask about all the fees before you decide.

Common fees to ask about include monthly maintenance fees, overdraft fees (charged when you spend more than you have), ATM fees (charged when you use another bank's ATM), and minimum balance fees (charged if your balance drops below a certain amount). Many banks waive these fees if you set up direct deposit or maintain a certain balance. Write down the fees so you can compare banks before you choose.

What to do after your account opens

Once your account is open, you can use it when ready through online banking or your bank's mobile app. You can transfer money in, set up bill pay, and check your balance anytime. Your debit card and checks will arrive in the mail within one to two weeks. Until they arrive, you can still access your money through ATMs or by asking a teller to withdraw cash at a branch.

If you receive a paycheck, ask your employer for a direct deposit form. Direct deposit sends your paycheck straight to your account on payday, and most employers offer it for free. This is faster and safer than depositing a paper check. If you are self-employed or receive irregular income, you can deposit checks using your bank's mobile app by photographing the front and back of the check.

Set up online bill pay through your bank's website or app so you can pay utilities, rent, and other bills without writing checks or paying fees. Most banks offer this for free. You can schedule payments to go out on a specific date, which helps you avoid late fees and keep track of when money leaves your account.

If you have had banking problems before

If you have overdrawn an account, written a bad check, or had an account closed by a bank, you may see a note in ChexSystems. This does not mean you cannot open a new account — it means some banks will decline you, but others will not. Banks that specialize in second-chance checking accounts are designed for people in this situation. These accounts usually have higher monthly fees and lower spending limits, but they help you rebuild your banking history.

Credit unions are often more flexible than large banks about past problems. If a traditional bank turns you down, call a credit union in your area and ask whether they work with people who have ChexSystems records. Many do. After you have kept a second-chance account open and in good standing for six months to a year, you can often move to a regular account with lower fees.

If you have never had a bank account before, you have no ChexSystems record, so you will not face this barrier. Banks are usually eager to open accounts for people new to banking because it builds long-term customers.

Choosing between a bank and a credit union

A bank is a for-profit business owned by shareholders. It offers a wide range of products — checking, savings, loans, credit cards — and usually has many branches and ATMs. Banks tend to have lower opening deposit requirements and more online features, but they often charge higher fees.

A credit union is a nonprofit owned by its members. You become a member when you open an account. Credit unions typically charge lower fees, offer better interest rates on savings, and are more willing to work with people who have had banking problems. The trade-off is that credit unions usually have fewer branches and ATMs, so they work best if you live or work near one. To join a credit union, you usually need to meet a membership requirement — for example, you might need to live in a certain county or work for a certain employer. Ask the credit union about membership before you visit.

If you are not sure which to choose, visit a bank and a credit union near you and ask about their fees and account options. Most people find that one or the other fits their needs better once they see the actual costs.

Frequently Asked Questions

Do I need a Social Security number to open a account?

Most banks require a Social Security number, but if you do not have one, you can use an Individual Taxpayer Identification Number (ITIN) instead. Some banks also accept a passport number. Call ahead and ask what the bank accepts before you visit.

Can I open an account without a proof of address?

Most banks require proof of address, but some will accept alternative documents like a lease, a utility bill in your name, or a government letter. If you are homeless or do not have a traditional address, call the bank and explain your situation — many have options for people in this circumstance.

What is the minimum opening deposit?

It varies by bank and account type. Some banks have zero-dollar minimums, while others require $25 to $100. A few banks require $500 or more for premium accounts. Ask the bank what their minimum is before you visit, so you know whether you have enough cash on hand.

How long does it take to open an account?

In person at a bank or credit union, it usually takes 15 to 30 minutes. Online, it takes 10 to 20 minutes, and your account is ready to use when ready. Your debit card and checks arrive by mail within one to two weeks.

What if the bank denies me?

Banks can deny you if you have a negative ChexSystems record or if you cannot provide required documents. If this happens, ask the bank why they declined you. Then look for a second-chance checking account or contact a credit union, which may have different requirements.