Where to open an account in Sioux Falls
Sioux Falls has branches of national banks, regional banks, and credit unions. The largest national banks with multiple Sioux Falls locations are Chase, Wells Fargo, and Bank of America. Regional options include First Premier Bank (headquartered in Sioux Falls), Dacotah Bank, and Great Western Bank. If you prefer a credit union, Sioux Falls has several: Sioux Falls Federal Credit Union, Black Hills Federal Credit Union, and others.
Each institution has different account types, fees, and minimum balance requirements. Some have no monthly fees if you keep a small balance or set up direct deposit. Others charge a monthly maintenance fee unless you meet certain conditions. Before you visit or call, decide whether you want a traditional bank or a credit union — credit unions are member-owned and often have lower fees, while banks typically have more branches and ATMs nationwide.
You can start the process online, by phone, or in person at any branch. Many banks let you open an account online and pick up your debit card at a local branch within a few days. Others require you to come in person, especially if you do not have an ID or Social Security number yet.
Key Takeaways
- Sioux Falls has branches of Chase, Wells Fargo, Bank of America, First Premier Bank, Dacotah Bank, and several credit unions, each with different fees and requirements.
- You will need a government-issued ID, your Social Security number, and proof of your current address to open an account.
- Many banks in Sioux Falls let you open an account online and pick up your card at a branch, while others require an in-person visit.
- Monthly fees vary widely — some accounts have no fee if you keep a minimum balance or set up direct deposit, while others charge $10 to $15 per month.
- Credit unions often have lower fees than banks but may have fewer ATMs outside Sioux Falls.
Documents you need to bring or provide
You will need a government-issued photo ID — a driver's license, passport, or state ID card. If you do not have one, some banks and credit unions will work with you using alternative documents, but call ahead to ask what they accept.
You will also need your Social Security number. Banks are required by federal law to collect this for tax reporting and fraud prevention. If you do not have a Social Security number yet, you can still open an account at some institutions, but the process takes longer and requires additional steps — ask the bank directly what they need.
Bring proof of your current address. A utility bill, lease, or recent mail from a government agency works. If you just moved to Sioux Falls and do not have a bill in your name yet, a signed lease or a letter from your landlord stating your address is usually accepted.
If you are opening the account online, you will upload photos of these documents or enter the information directly. If you are opening in person, bring the originals or copies.
What happens during the account opening process
When you visit a branch or start online, a banker or the website will ask you to choose an account type. Most people new to banking start with a checking account, which lets you write checks, use a debit card, and pay bills online. Some banks bundle a savings account with it.
Next, you will provide your personal information: full name, date of birth, address, phone number, and Social Security number. The bank will run a background check using a system called ChexSystems, which tracks banking history. This is not a credit check — it does not affect your credit score. If you have had problems with a bank account in the past (like overdrafts you did not pay back), the bank may see that, but many institutions will still open an account for you.
You will then choose how much to deposit to open the account. Some banks require a minimum opening deposit of $25 to $100; others have no minimum. You can deposit cash, a check, or set up a transfer from another bank account if you have one.
If you are opening in person, you will receive a debit card on the spot or be told when to pick it up. If you are opening online, the card arrives by mail in 7 to 10 business days. You will also receive a temporary PIN or be asked to set one up online.
Monthly fees and how to avoid them
Most checking accounts in Sioux Falls charge a monthly maintenance fee between $0 and $15, depending on the bank and account type. Some accounts have no fee at all. Others waive the fee if you meet one of these conditions: keep a minimum balance (often $500 to $1,500), set up direct deposit, or maintain a certain number of debit card transactions per month.
Before you open an account, ask the banker or check the bank's website for the fee schedule. Look specifically for the monthly maintenance fee and what it takes to waive it. If you are paid by direct deposit through an employer, that usually qualifies you for a fee waiver at most banks.
Credit unions often have lower or no monthly fees than banks. However, if you travel outside Sioux Falls frequently, check whether the credit union has ATMs in other cities or whether it is part of a shared branching network — this affects how easily you can withdraw cash elsewhere.
Getting your first debit card and setting up online banking
Your debit card arrives by mail or you pick it up at the branch. Before you use it, you will need to set up it — the bank will send you instructions by mail or text, or you can set up it through the bank's website or app.
Set up online banking at the same time. This lets you check your balance, transfer money between accounts, pay bills, and deposit checks by taking a photo on your phone. Most banks require you to create a username and password, and many now use two-factor authentication — you receive a code by text or email to confirm it is really you logging in.
Ask the banker or look on the bank's website for information about their mobile app. Many people find the app easier to use than the website, especially for depositing checks or checking your balance on the go.
Banks and credit unions with Sioux Falls locations
| Institution | Type | Sioux Falls Branches |
|---|---|---|
| Chase | National Bank | Multiple locations |
| Wells Fargo | National Bank | Multiple locations |
| Bank of America | National Bank | Multiple locations |
| First Premier Bank | Regional Bank | Multiple locations |
| Dacotah Bank | Regional Bank | Multiple locations |
| Great Western Bank | Regional Bank | Multiple locations |
| Sioux Falls Federal Credit Union | Credit Union | Multiple locations |
| Black Hills Federal Credit Union | Credit Union | Multiple locations |
This list includes the largest institutions with multiple branches in Sioux Falls. Smaller banks and credit unions also operate in the area. To find a specific branch address and hours, search the bank's name plus "Sioux Falls" on Google Maps or visit the bank's website directly.
What to do if you do not have an ID or Social Security number
If you do not have a government-issued ID, some banks will open an account using alternative documents — a passport, consular ID, or tribal ID. Call ahead to ask what the bank accepts before you visit.
If you do not have a Social Security number, you may still be able to open an account. Some banks will issue you an Individual Taxpayer Identification Number (ITIN) process or work with you to get one. This process takes longer and requires more paperwork. Call the bank's main number and ask to speak with someone in new accounts about opening an account without a Social Security number — they will tell you whether it is possible and what you need to do.
If you are new to the United States and do not yet have these documents, contact a community organization in Sioux Falls that helps immigrants or refugees. Many can guide you through the process of getting an ID and opening a bank account.
Frequently Asked Questions
Can I open a bank account online if I live in Sioux Falls?
Yes, most banks let you open a checking account online. You will upload photos of your ID and proof of address, provide your Social Security number, and make an initial deposit. Your debit card arrives by mail in 7 to 10 business days. Some banks require you to visit a branch in person to pick up your card or set up it, so ask when you start the process online.
What is the difference between a bank and a credit union?
A bank is a for-profit business owned by shareholders. A credit union is a nonprofit owned by its members. Credit unions often have lower fees and better interest rates on savings, but banks usually have more ATMs and branches nationwide. In Sioux Falls, both are available — choose based on whether you value lower fees or wider access.
Do I need a minimum deposit to open an account?
It depends on the bank and account type. Some banks in Sioux Falls require $25 to $100 to open; others have no minimum. Check the specific account's terms before you visit or explore online. If you do not have money to deposit right now, call the bank and ask whether they have accounts with no opening deposit requirement.
What if I have had problems with a bank account before?
Banks check a system called ChexSystems, which records overdrafts and closed accounts. If you have a negative history, some banks will still open an account for you, especially if the problem was years ago. Others may decline. If one bank says no, try a credit union or a different bank — policies vary. Be honest with the banker about your history; they may be able to work with you.
How long does it take to open an account?
In person, it usually takes 15 to 30 minutes. Online, it takes 10 to 15 minutes to fill out the form, but you will wait 1 to 3 business days for approval. Your debit card arrives by mail in 7 to 10 business days after that, or you can pick it up at a branch sooner if the bank offers that option.