What you need before you walk in or go online

Most banks require the same core documents: a government-issued photo ID (driver's license, passport, or state ID card), proof of your current address, and your Social Security number. Some banks will accept a utility bill, lease, or mortgage statement as address proof; others want a recent bank statement or government document. Call ahead or check the bank's website to confirm what they take, because showing up with the wrong documents means a wasted trip.

You will also need an opening deposit. This varies widely—some banks have no minimum, others require $25 to $500 to open a checking account. Savings accounts often have lower minimums than checking. If you do not have cash on hand, you can sometimes transfer money from another account during the process, or ask if the bank will waive the minimum temporarily while you arrange funds.

Have a list of any other accounts you hold at other banks. Banks use this to check your banking history through ChexSystems, a system that tracks account closures and overdraft patterns. You do not need to provide account numbers, but being honest about past accounts—especially if any were closed due to overdrafts or fraud—helps the process move faster.

Key Takeaways

  • Bring a photo ID, proof of address, and your Social Security number; call the bank first to confirm which documents they accept.
  • Most banks require an opening deposit ranging from zero to $500, though some will waive minimums if you transfer funds from another bank.
  • You can open an account in person at a branch, online through the bank's website, or by phone with some banks—online is usually fastest.
  • The account opens when ready in most cases, but it takes one to three business days for your debit card to be ordered and five to ten business days for it to arrive by mail.
  • If a bank denies you, ChexSystems may have flagged your history; you can request a free copy of your report and dispute errors.

Opening in person at a branch

Walk into any branch of the bank you have chosen with your documents and opening deposit. Tell the person at the desk you want to open a new account. They will ask whether you want checking, savings, or both, and whether you want a debit card. Be clear about your needs—checking accounts come with a debit card and usually allow unlimited transactions, while savings accounts typically limit how many times per month you can withdraw money.

The banker will run a ChexSystems check, which takes a few minutes. If you pass, they will have you sign paperwork and confirm your contact information. The account opens on the spot. Your debit card will be ordered and mailed to you—this usually takes five to ten business days. Until it arrives, you can withdraw cash at the branch or use your account number to set up direct deposit or transfers from another bank.

Bring a second form of ID if you have one (a credit card, passport, or work ID), because some banks ask for it. If you are opening an account for a minor, bring the minor and their birth certificate or Social Security card, plus your own ID and proof of guardianship if you are not the parent.

Opening online or by phone

Many banks—especially online-only banks and large national chains—let you open an account without visiting a branch. Go to the bank's website, click "Open an Account," and follow the prompts. You will enter your name, address, Social Security number, and employment information. You will upload a photo of your ID (front and back) and sometimes a photo of your address proof. Some banks use video verification instead, where you hold your ID up to your camera and answer security questions.

The whole process takes 10 to 20 minutes. Once you submit, the bank reviews your documents—usually within a few hours to one business day. If approved, your account opens when ready and you can log in to see your account number. You can set up direct deposit or transfers right away. Your debit card ships within one to three business days in most cases.

If the bank cannot verify your identity online, they may ask you to visit a branch in person or mail in a notarized copy of your ID. This adds time but is not common. Phone applications work similarly—a banker walks you through the same questions, takes your information verbally, and mails you documents to sign and return.

What happens after you open the account

Your account is live as soon as the bank confirms it, but your debit card is still in the mail. While you wait, you can use your account number to receive direct deposits from your employer, set up automatic bill payments, or transfer money from another bank using the ACH system (Automated Clearing House). These transfers take one to three business days to complete.

Log into your online banking portal or mobile app as soon as the bank sends you login credentials. Set up a strong password—at least 12 characters, mixing letters, numbers, and symbols. Enable two-factor authentication if the bank offers it, which sends a code to your phone when you log in from a new device. This protects your account from unauthorized access.

Review the account terms for monthly fees. Many banks charge $10 to $15 per month for checking accounts, but waive the fee if you maintain a minimum balance (often $500 to $1,500) or set up direct deposit. Some banks have no monthly fees at all. If you do not meet the waiver conditions, you can often switch to a different account type or bank to avoid the charge.

If the bank denies you

Banks use ChexSystems to screen applicants. If you have a history of overdrafts, bounced checks, or fraud, the bank may deny your process. You will receive a letter explaining the reason. The letter will include contact information for ChexSystems and your right to request a free copy of your report.

Order your ChexSystems report at chexsystems.com or call 1-800-428-9623. Review it for errors—mistakes happen, and you can dispute them in writing. ChexSystems has 30 days to investigate. If the information is correct, you have a few options: wait (some banks will reconsider after six months to a year of clean banking), open an account at a bank that does not use ChexSystems (some credit unions and smaller regional banks skip this check), or open a second-chance checking account, which is designed for people with banking history problems and usually comes with higher fees.

Do not lie on your process or try to hide past accounts. Banks verify everything, and fraud on a bank process is a federal crime. If you are honest about your history and explain what changed, some banks will work with you.

Choosing between checking and savings

A checking account is for money you use regularly. You get a debit card, can write checks, and make unlimited deposits and withdrawals. Most checking accounts have no interest—your money sits there earning nothing. Some banks offer interest-bearing checking, but the rate is usually very low (under 0.5% per year) and requires a high minimum balance.

A savings account is for money you want to keep separate and grow slowly. You earn interest on your balance, though the rate varies by bank and economic conditions (currently ranging from 0.01% to 5% per year depending on the bank). Savings accounts limit you to six withdrawals per month in most cases, though this rule is enforced loosely. If you exceed the limit, the bank may charge a fee or convert your account to checking.

Many people open both: a checking account for bills and daily spending, and a savings account for an emergency fund or short-term goals. Some banks bundle them together with one login and let you transfer money between them when ready. Others charge a fee to link accounts or require a minimum balance across both combined.

Frequently Asked Questions

How long does it take to open a bank account?

Online and phone applications take 10 to 20 minutes to complete, and the account opens within hours to one business day. In-person applications at a branch take 15 to 30 minutes and the account opens when ready. Your debit card arrives by mail in five to ten business days.

Can I open an account with no money?

Some banks have no opening deposit requirement. Others require $25 to $500. If you do not have cash, ask whether the bank will waive the minimum or let you transfer funds from another account during the process. Online banks are more likely to have zero-minimum accounts.

What if I do not have a Social Security number?

Banks require a Social Security number or Individual Taxpayer Identification Number (ITIN) to open an account. If you do not have either, you cannot open a standard account. Some credit unions have alternative programs for people without SSNs or ITINs—call ahead to ask.

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

It depends on the bank and account type. Some accounts have no minimum. Others require $500 to $1,500 to avoid a monthly fee. If you cannot meet the minimum, look for a no-fee account or a bank that waives the fee for direct deposit. Read the account terms before you open.

Can I change my account type after I open it?

Yes. You can usually switch from checking to savings or vice versa by calling the bank or logging into your online account. Some banks charge a small fee or require you to close one account and open another. Ask the banker about the process before you commit to a specific account type.