What you need before you walk in

Most banks in the US require two pieces of identification and proof of your current address before they will open an account. One ID must have your photo — a driver's license, passport, or state ID card. The second can be a Social Security card, birth certificate, or another government-issued document. For proof of address, bring a recent utility bill, lease, mortgage statement, or government mail dated within the last 60 days.

Some banks also ask for your Social Security number during the account opening process. If you do not have one, certain banks will open accounts using an Individual Taxpayer Identification Number (ITIN) instead, though this limits which account types are available. Call ahead to confirm what your specific bank accepts.

You will also need to decide what type of account you want — checking, savings, or both — before you sit down with the banker. This affects which documents matter and what fees explore.

Key Takeaways

  • Bring a photo ID, a second form of identification, and a recent utility bill or lease showing your current address.
  • Different banks have different minimum opening deposits, which range from zero to several hundred dollars depending on the account type and institution.
  • The entire process usually takes 15 to 30 minutes in person, or 10 to 20 minutes online if you choose a bank that offers remote account opening.
  • Monthly fees vary widely — some banks charge nothing, while others charge $10 to $15 per month unless you meet balance or deposit requirements.
  • You can open an account in person at a branch, online through a bank's website, or by phone with some institutions.

Opening in person at a branch

Walking into a bank branch and opening an account in person is the most straightforward route if you have a local branch nearby. Bring your IDs, proof of address, and your Social Security number or ITIN. Tell the banker which account type you want — checking, savings, or both. They will ask you questions about how you plan to use the account, your employment status, and whether you want online banking and a debit card.

The banker will then show you the account options available at that bank, explain the monthly fees (if any), and tell you the minimum opening deposit required. Some banks require $25 to $100 to open; others have no minimum. Once you agree, you will sign documents, provide your identification, and the account opens when ready. You will receive a debit card in the mail within 7 to 10 business days, though some banks issue a temporary card you can use right away.

Opening an account online

Many banks now allow you to open a checking or savings account entirely online without visiting a branch. You will upload photos of your ID and proof of address through the bank's website or app, enter your personal information, and choose your account type. The process typically takes 10 to 20 minutes.

Some online banks use a verification step where they ask questions only you would know the answers to — based on your credit history or public records — to confirm your identity. Others may require you to verify your identity through a video call with a banker. Once verified, your account opens and you can begin using it when ready, though transfers from other banks may take a few business days to clear.

Online-only banks often have lower monthly fees or no fees at all because they do not maintain physical branches. However, you will not have a local banker to speak with in person if you need help.

Minimum deposits and monthly fees

The amount you need to deposit to open an account varies by bank and account type. Traditional banks often require $25 to $500 as an opening deposit, while online banks frequently have no minimum. Some banks waive the minimum if you set up direct deposit of your paycheck.

Monthly maintenance fees range from zero to $15 or more, depending on the bank and account type. Many banks waive the fee if you maintain a certain balance — often $500 to $1,500 — or if you set up direct deposit. A few banks charge no monthly fee regardless of your balance. Before opening an account, ask the banker or check the bank's website for the exact fee structure and what actions waive the fee.

What happens after you open the account

Once your account is open, you will receive a debit card in the mail within 7 to 10 business days. You can use this card to withdraw cash at ATMs and make purchases at stores. You will also receive checks if you opened a checking account, though these arrive separately and may take an additional week or two.

Your bank will provide you with online banking access so you can check your balance, transfer money between your own accounts, and set up bill payments. Most banks also offer a mobile app where you can deposit checks by taking a photo, check your balance, and receive alerts when your account balance drops below a certain amount.

If you set up direct deposit with your employer, your paycheck will be deposited automatically on payday. This usually takes one to two business days after your employer processes payroll.

Banks that accept ITIN instead of Social Security number

If you do not have a Social Security number, some banks will open accounts using an ITIN, which is issued by the IRS to people who file taxes but are not may be able to access for a Social Security number. Not all banks accept ITIN, so you will need to call ahead or visit the bank's website to confirm.

Banks that commonly accept ITIN include some regional and community banks, as well as certain online banks. The account types available may be limited — some banks will open a savings account with an ITIN but not a checking account. Ask the bank what documentation they need in addition to your ITIN, as requirements vary.

Choosing between checking and savings accounts

A checking account is designed for frequent deposits and withdrawals. You get a debit card and checks, and you can set up bill payments and direct deposit. Most checking accounts have no limit on how many transactions you can make per month. Monthly fees are common but often waived if you maintain a minimum balance or set up direct deposit.

A savings account is designed to hold money and earn interest. You can make withdrawals, but there are limits on how many you can make per month without paying a fee — typically six per month, though this varies by bank. Savings accounts usually have lower monthly fees or no fees at all. The interest rate you earn varies by bank and changes over time.

Many people open both accounts at the same bank — a checking account for daily spending and a savings account to set money aside. Some banks offer a combined package with both accounts at a single monthly fee.

Frequently Asked Questions

Can I open a bank account if I have bad credit?

Yes. Banks do not check your credit score when you open a checking or savings account. However, some banks use a system called ChexSystems that tracks your banking history — whether you have bounced checks or had accounts closed due to overdrafts. If you have a negative ChexSystems record, some banks will decline to open an account, though others do not use ChexSystems at all.

How long does it take to open an account?

In person at a branch, the process takes 15 to 30 minutes. Online, it takes 10 to 20 minutes, though identity verification may add another day or two. Once your account is open, you can use it when ready, but your debit card will arrive in the mail within 7 to 10 business days.

Do I need a minimum balance to keep my account open?

It depends on the bank and account type. Some banks require you to maintain a minimum balance — often $500 to $1,500 — to avoid monthly fees. Others have no minimum balance requirement. Check your bank's fee schedule to see what applies to your account.

What if I do not have a permanent address?

Most banks require proof of a current address to open an account. If you are unhoused, some banks will accept a letter from a shelter, social services agency, or nonprofit organization as proof of address. Call your bank ahead of time to ask what documentation they will accept in your situation.

Can I open an account for someone else?

No. The person whose name is on the account must be present and provide their own identification. If you want to manage money for a minor, you can open a joint account where you are both listed as owners, or a custodial account where you manage the money until they reach adulthood. Requirements vary by bank.