What you need to do to open a new account
Opening a bank account takes between 10 minutes and a few days, depending on whether you do it online or in a branch. You will need a government-issued ID, proof of your current address, and your Social Security number. Most banks let you start online and finish in one session, though some still require you to visit a branch or mail in documents.
The process itself is straightforward: you choose a bank, provide your personal information, fund the account (or leave it empty), and wait for confirmation. The bank verifies your identity against their fraud systems and checks you against ChexSystems, a database that tracks banking history. If you have unpaid overdrafts or fraud flags from a previous account, you may be denied or asked to use a second-chance banking program instead.
Key Takeaways
- You will need a government ID, proof of address, and your Social Security number before you start, whether you open online or in person.
- Most banks check ChexSystems, which records overdrafts and fraud from previous accounts; if you are flagged there, you may need a second-chance account instead.
- Online accounts open in minutes but may require you to verify your identity by uploading photos or waiting for a verification code by mail.
- In-branch accounts take longer but let you ask questions and sometimes waive fees if you do not meet minimum balance requirements.
- You do not have to fund the account when ready; many banks let you open it empty and deposit money later.
Opening an account online
Online accounts are the fastest route. Go to the bank's website, click "Open an Account" or "New Customer", and fill in your name, address, date of birth, and Social Security number. The bank will ask what type of account you want—checking, savings, or both—and whether you want overdraft protection (which lets you spend more than your balance for a fee).
Next comes identity verification. Most banks ask you to upload a photo of your ID and sometimes a selfie. Others send a verification code to your email or phone, or deposit two small amounts into an existing account you own and ask you to report the exact cents. This step usually takes a few minutes to a few hours.
Once verified, you can fund the account by linking an existing bank account and transferring money, or by providing a debit card number. Some banks let you skip funding entirely and deposit money later. You will receive account and routing numbers when ready, though your debit card arrives by mail in 7 to 10 business days.
Opening an account in person at a branch
Bring your government ID, proof of address (a recent utility bill, lease, or mortgage statement), and your Social Security number. A banker will walk you through the same questions as the online form: account type, overdraft settings, and initial deposit.
The advantage of a branch visit is that you can ask about fee waivers. Many banks waive monthly maintenance fees if you keep a minimum balance (often $500 to $1,500) or set up direct deposit. A banker can also explain the difference between account types and help you choose based on how you plan to use the account. If you have a ChexSystems flag, a banker can sometimes override it or suggest an alternative product on the spot.
The account opens when ready, and you walk out with a debit card (or it arrives by mail within a week, depending on the bank). You can start using the account the same day.
What happens if you have a ChexSystems record
ChexSystems is a database that banks use to check your history with other banks. It records unpaid overdrafts, closed accounts due to fraud, and repeated NSF (non-sufficient funds) fees. If you have a record there, some banks will deny you outright. Others will offer you a second-chance account, which has higher fees but fewer restrictions.
You can check your own ChexSystems report for free at chexsystems.com. If there is an error—a closed account you did not close, or an overdraft you paid—you can dispute it. Disputes take 30 to 45 days to resolve.
If you are denied, ask the bank why. Some will tell you it is a ChexSystems issue; others will not. If it is ChexSystems, look for banks that offer second-chance checking, which typically cost $10 to $15 per month but do not require a credit check or a clean banking history.
Choosing between account types
Most people open a checking account, which is designed for frequent deposits and withdrawals. You get a debit card, checks, and online bill pay. A savings account is meant to hold money you do not spend regularly; it earns interest (though the rate varies widely) and usually limits how many times per month you can withdraw.
Many banks let you open both at once. A checking account handles your daily spending; a savings account holds an emergency fund or money toward a goal. Some banks link them so you can transfer between them when ready online.
If you are opening your first account, a basic checking account is usually the right choice. Look for one with no monthly fee, no minimum balance requirement, and no overdraft fees (or at least the option to turn overdraft protection off so you cannot spend money you do not have).
Funding your new account
You do not have to fund an account when you open it. Many people open the account first, then deposit money later once they have the account number. If you do want to fund it when ready, you have a few options.
The fastest is to link an existing bank account and transfer money online. This takes 1 to 3 business days. You can also deposit a check by photographing it with your phone (mobile deposit) if the bank offers it, or by mailing it. Cash deposits require a branch visit or an ATM that accepts deposits.
If you are switching banks, your old bank can send a wire transfer, which arrives the same day but costs $15 to $30. Direct deposit from your employer is free and takes one pay cycle to set up.
After your account opens
Once your account is open, log into online banking and set up a strong password. Enable two-factor authentication if the bank offers it—this means you have to enter a code from your phone or email every time you log in from a new device, which protects against fraud.
Your debit card arrives by mail within 7 to 10 business days. You will need to set up it by calling the number on the back or using the bank's app. Some banks let you use your account number and routing number to receive direct deposits or pay bills before the card arrives.
Check your first statement carefully. Look for any fees you did not expect, and make sure all your deposits and withdrawals are there. If something is wrong, contact the bank within 60 days; after that, they are not required to investigate.
Frequently Asked Questions
How long does it take to open a bank account?
Online accounts open in 10 minutes to a few hours, depending on how long identity verification takes. In-branch accounts open the same day. You can use your account number when ready, but your debit card arrives by mail in 7 to 10 business days.
Can I open an account without a Social Security number?
Most banks require a Social Security number or an ITIN (Individual Taxpayer Identification Number). Some banks that serve immigrants may accept an ITIN instead. Call ahead to ask, or visit a branch with your passport and other ID to see what options are available.
What if I do not have a government ID?
A state driver's license or passport is standard. If you do not have either, some banks will accept a state ID card or a passport card. A few banks in immigrant-friendly areas may accept a consular ID. Call the bank before you visit to confirm what they accept.
Do I have to keep a minimum balance?
It depends on the bank and the account type. Many banks waive the minimum if you set up direct deposit or keep a certain amount in savings. Others have no minimum at all. Read the account terms before you open, or ask a banker in person.
Can I open multiple accounts at the same bank?
Yes. You can open a checking account and a savings account, or multiple checking accounts for different purposes. Each account has its own number and can be managed separately online.