What you need before you walk in

Most banks and credit unions will ask for a government-issued photo ID, proof of your current address, and your Social Security number or tax ID. Bring an original document for your address — a utility bill, lease, or recent bank statement all work. If you don't have a photo ID yet, some banks will accept a passport, state ID card, or tribal ID instead.

You'll also need to decide how much money you want to deposit to open the account. Many banks have no minimum, but some require $25 to $100 to start. A few still ask for more, especially for premium accounts. Call ahead or check the bank's website to know what they expect before you arrive.

If you're opening an account for a child under 18, you'll need to be present as a parent or legal guardian, and you'll both need ID. Some banks let you open a joint account with another adult — both of you will need to be there with ID.

Key Takeaways

  • Bring a government photo ID, proof of your address, and your Social Security number — these are what every bank will ask for.
  • You can open an account in person at a branch, by phone, or online, and the process takes 15 minutes to an hour depending on the method.
  • Banks and credit unions have different fee structures, so compare what they charge for overdrafts, monthly maintenance, and ATM use before you choose.
  • Once your account is open, you'll get a debit card within 7 to 10 business days and can start using online banking right away.

Opening in person at a branch

Walk into any branch during business hours with your ID, address proof, and Social Security number. Tell a staff member you want to open a checking or savings account — they'll take you to a desk and walk you through the paperwork. You'll sign a signature card, agree to the account terms, and make your first deposit if you're bringing cash or a check.

The whole process usually takes 20 to 45 minutes. Before you leave, ask when your debit card will arrive (typically 7 to 10 business days) and whether you can start using online banking the same day. Most banks let you log in when ready, even if your card hasn't shipped yet.

Opening by phone or online

Many banks let you open an account without visiting a branch. Call the bank's main number and ask for new account services, or go to their website and look for an "Open an Account" button. You'll answer questions about yourself, upload photos of your ID and address proof, and verify your Social Security number.

Online and phone openings usually take 10 to 30 minutes. The bank will ask you to make an initial deposit — some let you transfer money from another bank account, while others ask you to mail a check or set up a transfer later. You'll get login credentials for online banking within hours, though your debit card will still take 7 to 10 business days to arrive.

If you don't have a photo ID or your address proof is hard to get, opening in person at a branch is usually faster than trying to upload documents online.

Banks versus credit unions — what's different

Banks are for-profit businesses; credit unions are member-owned nonprofits. Both offer checking and savings accounts, but credit unions often charge lower fees and pay higher interest on savings. Credit unions also tend to be more flexible if you have no credit history or a thin banking record.

The trade-off is that credit unions have fewer branches and ATMs than big banks. If you travel a lot or need to visit a branch often, a large bank might be more convenient. If you want lower fees and don't mind fewer locations, a credit union is often the better choice. Many credit unions are part of shared branching networks, which means you can use other credit unions' branches for some services.

Both banks and credit unions are insured by the federal government — the FDIC for banks and the NCUA for credit unions — so your money is protected up to $250,000 per account type.

Fees and features to compare before you choose

Different banks charge different amounts for the same service. Look at what they charge for overdrafts (when you spend more than you have), monthly maintenance fees, ATM fees if you use out-of-network machines, and minimum balance requirements. Some banks waive monthly fees if you keep a certain amount in the account or set up direct deposit.

Also check whether the bank offers online bill pay, mobile check deposit, and fraud protection. Most do now, but the details vary. Some banks let you deposit checks by taking a photo with your phone; others require you to mail them or visit a branch. If you plan to use your account for direct deposit from an employer, confirm the bank can receive it.

Read the account agreement before you sign — it's the document that lists all the fees and rules. If something isn't clear, ask the staff member to explain it. You have the right to understand what you're agreeing to.

What happens after you open the account

Your account is active the same day you open it, even if you opened it online or by phone. You can log into online banking and set up bill pay, transfers, and alerts right away. Your debit card will arrive in the mail within 7 to 10 business days — some banks send it faster if you pay for expedited shipping.

When your debit card arrives, you'll need to set up it before you can use it. The bank will send instructions with the card, usually asking you to call a number or log into your account and confirm. After set up, you can use it at ATMs and stores when ready.

If you set up direct deposit from your employer, it usually takes one to two pay periods to start. Ask your employer's payroll department for the bank's routing number and your account number — you'll find both on a check or in your online banking portal.

If you've been denied or turned away

Some banks use ChexSystems, a checking account history report, to decide whether to open an account for you. If you've had unpaid overdrafts, written bad checks, or closed an account with a negative balance at another bank, you might be flagged. You can request a free copy of your ChexSystems report at www.chexsystems.com and dispute any errors.

If you're denied, ask the bank why. If it's because of ChexSystems, you have the right to know. Some banks have second-chance accounts designed for people with banking problems — they come with higher fees but let you rebuild your history. Credit unions are often more willing to work with people who have been denied elsewhere.

If you don't have a Social Security number, some banks will open an account with an ITIN (Individual Taxpayer Identification Number) instead. Call ahead to confirm the bank accepts it, because not all do.

Frequently Asked Questions

Can I open a bank account without a Social Security number?

Yes, if you have an ITIN or are a non-citizen with a valid passport. Not all banks accept these, so call first. Credit unions are often more flexible about this than large banks.

What if I don't have a permanent address?

Some banks will accept a shelter address, a PO box, or a friend's address if you can show you receive mail there. Call the bank and explain your situation — staff can tell you what documents they'll accept before you come in.

How long does it take to get my debit card?

Standard delivery is 7 to 10 business days. Some banks offer expedited shipping for a fee, which can cut it to 3 to 5 days. You can use your account online and at ATMs before the card arrives.

Do I have to keep a minimum balance?

It depends on the account and the bank. Many checking accounts have no minimum, but some require $500 or more. Savings accounts often have minimums too. Check the account terms before you open — the bank will tell you what the requirement is.

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

Yes. You can have a checking account and a savings account, or multiple accounts of the same type. Each account is insured separately up to $250,000, so this can be useful if you have a lot of money to protect.