What 1st Source Bank offers and how to start online
1st Source Bank is a regional bank headquartered in South Bend, Indiana, with branches across Indiana and Michigan. You can open a checking or savings account entirely online without visiting a branch — the process takes about 10 to 15 minutes and requires a valid government ID, Social Security number, and an initial deposit method.
The bank offers several account types online: basic checking, interest-bearing checking, savings accounts, and money market accounts. Each has different minimum balance requirements and fee structures. The online process walks you through selecting an account type, entering personal information, funding the account, and setting up online banking access — all before you receive your debit card or checks in the mail.
1st Source does not require a minimum opening deposit for most checking accounts, though some account types have monthly balance minimums to avoid fees. You fund the account when ready after approval using a linked external bank account, debit card, or wire transfer.
Key Takeaways
- The online process takes 10 to 15 minutes and requires a government-issued ID, Social Security number, and proof of current address.
- You can fund your new account when ready using an external bank account, debit card, or wire transfer during the process process.
- 1st Source approves most applications when ready or within one business day, and you can use online banking and bill pay before your physical debit card arrives.
- Monthly maintenance fees vary by account type; many checking accounts have no monthly fee if you meet balance or direct deposit requirements.
- If the online process is declined or you need to verify information, you can complete the account opening at a branch in person.
What you need before you start the process
Gather these items before opening the 1st Source website. You will enter information from each one during the process, and the system will verify it in real time.
A valid government-issued ID is required — a driver's license, state ID card, or passport. The name on your ID must match the name you enter in the process. If you have recently changed your name, bring documentation of the change (marriage certificate, court order) to a branch after opening the account online.
Your Social Security number is used for identity verification and credit reporting. 1st Source will run a soft credit check (which does not affect your credit score) to confirm your identity and check for fraud. Have your nine-digit SSN ready to type in.
A current address with proof is required. The system will ask for your street address, city, state, and ZIP code. If you moved recently, have a utility bill, lease, or government document dated within the last 60 days showing your current address. You do not upload this during the online process — 1st Source verifies it through third-party databases — but you may need to provide it later if the system cannot confirm it automatically.
A funding source is needed to deposit money into your new account. This can be a checking or savings account at another bank (you will need the routing number and account number), a debit card, or a wire transfer. If you are funding from another bank account, have that bank's information ready.
Step-by-step: completing the online process
Go to the 1st Source Bank website and select "Open an Account" or "New Accounts." The system will ask whether you want to open a personal or business account; select personal unless you are opening a business checking account.
Choose your account type. 1st Source typically offers a basic checking account (no monthly fee with no minimum balance), a rewards checking account (monthly fee waived if you meet direct deposit or balance requirements), and savings accounts. Read the fee schedule for each — the difference between accounts is usually the monthly maintenance fee and interest rate on savings.
Enter your personal information: full legal name (as it appears on your ID), date of birth, Social Security number, and current address. The system verifies this information against government databases and fraud-prevention services in real time. If any field does not match your ID or existing records, the system will flag it and ask you to correct it before moving forward.
Confirm your contact information. You will provide a phone number and email address. 1st Source uses these to send account confirmations, fraud alerts, and statements. Make sure the email address and phone number are ones you check regularly.
Set up online banking login credentials. You will create a username and password for online banking access. The password must meet 1st Source's requirements (usually at least 8 characters, including uppercase, lowercase, and a number). Write this down or save it in a password manager — you will need it to log in after the account opens.
Fund your account. Select your funding method: external bank account, debit card, or wire transfer. If you are funding from another bank account, enter the routing number and account number. If you are using a debit card, enter the card number, expiration date, and CVV. The system will process the deposit when ready or within one business day, depending on the method.
Review and submit. The process shows a summary of your information and account details. Check that everything is correct — especially your name, address, and account type — before submitting. Once you submit, you cannot edit the process; if something is wrong, you will need to contact 1st Source or start a new process.
What happens after you submit your process
Most applications are approved when ready. You will see a confirmation screen with your new account number and online banking login information. Write down your account number or take a screenshot — you will need it to set up bill pay or link the account to other services.
If 1st Source needs to verify additional information, you will receive an email or phone call within one business day. This usually happens if the address verification failed or if the system flagged something unusual. You can provide the missing information by phone, email, or by visiting a branch.
Your debit card is mailed to your address within 5 to 10 business days. Until it arrives, you can still use your account: you can transfer money online, set up bill pay, and receive direct deposits. If you need cash before the card arrives, you can withdraw from any 1st Source ATM using your account number and ID, or visit a branch.
Checks are ordered separately and arrive 7 to 14 business days after the account opens. If you need checks when ready, you can order them through the online banking portal or ask a branch to print a temporary check.
Funding your account: timing and methods
You can fund your new 1st Source account during the process or when ready after approval. The timing depends on your funding method.
External bank account (ACH transfer): If you transfer from another bank account, the deposit usually clears within one to two business days. The money leaves your old account when ready but may not show in your 1st Source account until the next business day. This is the slowest method but has no fees.
Debit card: A debit card deposit processes when ready or within a few hours. The money appears in your 1st Source account the same day. Some banks charge a fee for debit card deposits to other banks, so check with your card issuer first.
Wire transfer: If you wire money from another bank, it arrives within hours on the same business day. Wire transfers have a fee (usually $15 to $25) charged by your sending bank, not by 1st Source. Use this method only if you need the money when ready.
You do not have to fund the account during the process. If you want to open the account first and fund it later, you can do that — just log into online banking and transfer money from another account within a few days.
Online banking features available when ready
As soon as your account is approved, you can log into 1st Source's online banking portal using the username and password you created. You do not have to wait for your debit card or checks.
You can view your account balance and transaction history, set up bill pay to pay merchants and individuals directly from your account, transfer money between your 1st Source accounts, and set up alerts for low balance, large transactions, or suspicious activity. You can also order checks, request a temporary check, and update your contact information.
Mobile banking is available through the 1st Source app (iOS and Android). You can deposit checks by taking a photo of the front and back, check your balance, and transfer money — all from your phone.
If your process is declined or incomplete
1st Source may decline your process if the identity verification fails, if there is a fraud flag, or if you do not meet the bank's account opening requirements. If this happens, you will receive an email explaining the reason.
Common reasons for decline include a mismatch between your ID and the information you entered, an address that cannot be verified, or a Social Security number that does not match government records. If your information was entered incorrectly, you can start a new process with the correct details.
If the decline is due to fraud concerns or identity verification issues, contact 1st Source directly at the phone number provided in the decline email. A representative can walk you through additional verification steps or offer to open the account in person at a branch.
If you have a history of overdrafts or closed accounts with other banks, 1st Source may decline you. The bank uses ChexSystems, a banking history database, to check your record. You can request your ChexSystems report for free at www.chexsystems.com to see what information is on file.
Frequently Asked Questions
How long does it take to open a 1st Source account online?
The process itself takes 10 to 15 minutes. Most applications are approved when ready, and you can use online banking and bill pay the same day. Your debit card arrives in 5 to 10 business days, and checks arrive in 7 to 14 business days.
Do I need a minimum deposit to open an account?
1st Source does not require a minimum opening deposit for most checking accounts. However, some account types have monthly balance minimums (usually $500 to $1,000) to avoid a monthly maintenance fee. Check the fee schedule for your chosen account type before submitting your process.
Can I open an account if I do not have a Social Security number?
No. 1st Source requires a valid Social Security number for all personal accounts. If you are a non-citizen without an SSN, you may be able to open an account in person at a branch with an ITIN (Individual Taxpayer Identification Number) and additional documentation, but this is not available online.
What if I need to withdraw money before my debit card arrives?
You can withdraw cash at any 1st Source ATM using your account number and ID, or visit a branch and ask a teller to withdraw cash from your new account. You can also transfer money to another bank account you own through online banking.
Is there a fee to open an account online?
No. Opening an account online is free. You may have monthly maintenance fees depending on your account type and whether you meet balance or direct deposit requirements, but the account opening itself has no charge.