Most major banks now let you open a checking or savings account online, but the process and requirements vary
You can open an account online at nearly every large bank in the United States — Chase, Bank of America, Wells Fargo, Citibank, and others all offer this option. You can also open accounts at online-only banks like Ally, Charles Schwab, and Discover, which have no physical branches at all. The real difference is not whether you can start online, but what happens next: some banks verify your identity when ready and let you use the account the same day, while others mail you a debit card and take a week or two before the account is fully active.
The reason banks vary in speed comes down to how they verify who you are. Banks are required by federal law to confirm your identity before opening an account — they cannot just take your word for it. Some use when ready verification through credit bureaus or other databases. Others ask you to upload a photo of your ID or answer security questions. A few still require you to visit a branch or wait for mail to arrive. Knowing which banks use which method helps you pick one that fits your timeline.
Key Takeaways
- Large banks like Chase, Bank of America, and Wells Fargo let you start an account online, but most mail your debit card and take five to ten business days before you can use it fully.
- Online-only banks like Ally and Charles Schwab often verify your identity faster and let you use your account the same day, though they have no branches if you need to deposit cash.
- All banks must verify your identity before opening an account — they will ask for your Social Security number, date of birth, and address at minimum.
- Some banks let you fund your new account when ready with a transfer from another bank account you already own; others require you to wait until your debit card arrives.
What you need to open an account online
Every bank will ask for the same core information: your full legal name, date of birth, Social Security number, current address, and a phone number. Have a government-issued ID handy — a driver's license, passport, or state ID card. Some banks photograph your ID as part of the verification process; others just ask you to type in the information from it.
You will also need to choose how to fund the account. Most banks let you transfer money from another bank account you already own — you provide the routing number and account number from that bank, and the money moves electronically. If you do not have another account, some banks accept a wire transfer or a check deposit, though these take longer. A few banks still require you to visit a branch in person to make your first deposit.
Banks that verify your identity when ready
Online-only banks and some newer branches of traditional banks use when ready verification, which means your account is ready to use the moment you finish the process. Ally Bank, Charles Schwab Bank, and Discover Bank are known for this. They pull information from credit bureaus and other databases to confirm you are who you say you are, usually within seconds or minutes. If verification succeeds, you can transfer money into your account and start using it the same day.
The catch is that these banks have no physical branches. If you need to deposit cash, you will have to use an ATM network or mail a check. Ally and Charles Schwab both have ATM networks you can use for free, but the network is smaller than what you get at a traditional bank. Discover has fewer ATM options. If you rarely use cash, this is not a problem. If you deposit cash regularly, a traditional bank may be more practical.
Banks that mail your debit card first
Most large banks — Chase, Bank of America, Wells Fargo, and Citibank — let you open an account online but mail your debit card to you before the account is fully active. The process takes 10 to 15 minutes. Identity verification happens in the background, usually within a few hours. Your debit card arrives in five to ten business days.
During the waiting period, you can usually transfer money into the account from another bank, but you cannot withdraw it or use a debit card until the card arrives. Some branches of these banks let you pick up a temporary debit card at a local branch while you wait, which speeds things up. Call the bank's customer service line or ask in a branch whether this option is available near you.
Banks that require a branch visit or phone call
A small number of banks and credit unions still require you to complete part of the process in person or over the phone. Some regional banks and most credit unions fall into this category. They may let you start the process online but require you to visit a branch to show your ID in person, or they may require a phone call with a representative to finish the verification.
If you have a credit union account already, ask whether they offer online account opening. Many credit unions have modernized their process in recent years. If you are looking for a new bank and want to avoid a branch visit, stick with the large national banks or online-only banks listed above.
How long before you can use your account
The timeline depends on the bank and the verification method. Online-only banks with when ready verification: same day. Large banks that mail a debit card: five to ten business days. Banks that require a branch visit: usually the same day if you go in person, or one to three business days if you do it over the phone.
If you need money in your account quickly, transfer it from another bank account you own — this usually clears within one to two business days, even if your debit card has not arrived yet. Some banks let you use a temporary online transfer code or a temporary card number before your physical card arrives, which gives you access sooner.
Checking versus savings accounts online
Most banks let you open either a checking account or a savings account online, and many let you open both at the same time. A checking account is for regular spending — it comes with a debit card and checks. A savings account is for money you want to keep separate and earn interest on. The online process is the same for both. The main difference is that savings accounts have limits on how many withdrawals you can make per month, while checking accounts do not.
If you are new to banking, starting with a checking account makes sense because you will use it for everyday expenses. You can open a savings account later, or at the same time if the bank offers it.
Frequently Asked Questions
Can I open an account if I do not have a Social Security number?
Most banks require a Social Security number for identity verification. If you do not have one, some banks will accept an Individual Taxpayer Identification Number (ITIN) instead. Call the bank's customer service line before you start the process to confirm they accept ITINs.
What if the bank cannot verify my identity online?
If when ready verification fails, the bank will usually ask you to upload a photo of your ID or answer security questions about your credit history. If that does not work, they may ask you to visit a branch in person or send documents by mail. The bank will contact you with next steps.
Can I open an account if I have had banking problems before?
Banks check a system called ChexSystems, which records closed accounts and unpaid fees. If you appear on ChexSystems, some banks will still open an account for you, but others will decline. Online-only banks and some credit unions are more likely to accept applicants with ChexSystems records. Ask the bank directly before you explore.
Do I need a minimum deposit to open an account online?
Most banks do not require a minimum deposit to open an account online — you can open it with zero dollars and fund it later. Some banks offer higher interest rates on savings accounts if you maintain a minimum balance, but that is different from a requirement to open. Check the bank's website for details.
Can I open an account if I am under 18?
Most banks require you to be 18 to open an account in your own name. If you are younger, you can open a joint account with a parent or guardian, or ask about youth accounts designed for teenagers. The process is similar but requires a parent's information and signature.