The places that will open an account for you
You can open a bank account at a traditional bank branch, a credit union, an online bank, or a prepaid card provider. Each one has different requirements, different fees, and different reasons you might choose it. The right choice depends on whether you need a physical location to visit, how much money you have to start with, and what services matter most to you.
Most people have access to at least one of these options. The hardest part is usually not finding a place that will take you, but understanding what each one actually costs and what happens after you open the account.
Key Takeaways
- Traditional banks require an initial deposit (often $25 to $100) and proof of identity, but offer in-person service and physical debit cards.
- Credit unions typically have lower fees than banks and may accept members with no credit history, but you must join the union first.
- Online banks have no monthly fees and lower minimum deposits, but you cannot deposit cash or speak to someone in person.
- Prepaid card providers accept almost anyone and require no credit check, but charge per-transaction fees that add up quickly.
- If you have no ID or a history of fraud, community banks and second-chance banking programs exist specifically for that situation.
Traditional banks: what you need to bring
A traditional bank is the most common choice. You walk into a branch, sit with an employee, and open a checking or savings account on the spot. Most banks require a government-issued ID (driver's license, passport, or state ID card), proof of your current address (a utility bill or lease dated within the last 60 days), and an initial deposit of $25 to $100, though some waive this if you set up direct deposit.
Banks charge monthly maintenance fees ranging from $0 to $15, depending on the bank and the account type. Many waive the fee if you keep a minimum balance (often $500 to $1,500) or set up direct deposit. You get a debit card, checks, and the ability to deposit cash at any branch. If something goes wrong with your account, you can call or visit a branch and talk to a person.
The downside is that banks are slower to open accounts online than they used to be. Many now require you to visit a branch in person or complete a video verification call, even if you start the process on their website. Call ahead or check the bank's website to confirm what they require in your area.
Credit unions: lower fees, but membership first
A credit union is a member-owned financial institution, not a for-profit bank. To open an account, you must first become a member. Membership usually requires living or working in a specific area, belonging to a certain profession or employer, or being related to someone who is already a member. Some credit unions let you join by making a donation to a nonprofit they sponsor.
Once you are a member, opening an account is straightforward. You bring the same documents as you would to a bank (ID, proof of address, initial deposit). Credit unions typically charge lower monthly fees than banks—often $0 to $5—and have lower minimum balances. They are also more likely to work with people who have no credit history or a thin credit file.
The catch is that credit unions have fewer branches and ATMs than banks. If you need to deposit cash or withdraw money, you may have to travel farther or pay out-of-network ATM fees. Check whether the credit union you are considering is part of a shared branching network, which lets you use other credit unions' branches for free.
Online banks: no fees, but no cash deposits
An online bank exists only on the internet. You open an account entirely through their website or app, usually in 10 to 15 minutes. You need an ID, proof of address, and an initial deposit (often as low as $0 to $25). Online banks have no monthly maintenance fees and no minimum balance requirements.
The tradeoff is that you cannot deposit cash. You can only transfer money in from another account, receive direct deposits, or use mobile check deposit (taking a photo of a check). If you need to deposit cash regularly, an online bank alone will not work for you. Many people use an online bank for savings and a traditional bank or credit union for checking, so they have a place to deposit cash.
Online banks are also faster to open accounts than traditional banks because they do not require in-person verification. Some use when ready ID verification through your phone; others send you a verification code by mail. Read the bank's website to see which method they use and how long it takes.
Prepaid cards: the fastest option, but watch the fees
A prepaid card is not a bank account. It is a card you load money onto, like a gift card. You can buy one at a grocery store, pharmacy, or online. Most prepaid card providers do not check your credit, do not require an ID, and do not ask for proof of address. You can start using the card within minutes.
The problem is fees. Prepaid cards charge per transaction: $1 to $3 to load money, $1 to $2 to check your balance, $2 to $3 to withdraw cash at an ATM, and sometimes a monthly maintenance fee of $5 to $10. If you use the card frequently, these fees add up fast. A person who loads $100 a month, checks their balance twice a week, and withdraws cash twice a week could pay $50 to $80 a month in fees alone.
Prepaid cards are useful as a temporary solution while you work on opening a real bank account, or if you need to move money quickly without a credit check. They are not a long-term replacement for a bank account.
Second-chance banking programs for people with banking history issues
If you have been denied a bank account because of a previous fraud case, unpaid overdrafts, or a record in ChexSystems (a database banks use to check account history), some banks and credit unions offer second-chance accounts. These accounts have higher fees and lower limits on deposits and transfers, but they let you rebuild your banking history.
Ask your local community bank or credit union whether they offer a second-chance program. Some also partner with nonprofit credit counseling agencies that can vouch for you. The account usually stays restricted for 12 to 24 months; after that, you can move to a standard account if you have kept the account in good standing.
If you have no ID at all, the process is harder. Some banks will accept a state ID card even if it is expired, or a passport card. If you cannot get any government ID, ask a community bank or credit union about their policy—some will work with you if you bring other documents like a lease, utility bill, and a letter from an employer or social service agency.
Comparing your options at a glance
| Type | Initial Deposit | Monthly Fee | Can Deposit Cash | In-Person Service | Speed to Open |
|---|---|---|---|---|---|
| Traditional Bank | $25–$100 | $0–$15 | Yes | Yes | Same day or 1–2 days |
| Credit Union | $25–$100 | $0–$5 | Yes | Yes | Same day or 1–2 days |
| Online Bank | $0–$25 | $0 | No | No | 10–15 minutes |
| Prepaid Card | $0 | $0–$10 + per-transaction fees | No | No | Minutes |
What to do next: picking one and starting
Start by listing what matters most to you. Do you need to deposit cash? Do you want to talk to someone in person? Do you have a low initial deposit? Do you have a credit union available to you? Once you know your priorities, one or two options will stand out.
If you are unsure which banks or credit unions are near you, search online for "banks near me" or "credit unions near me" and call three of them. Ask what they need to open an account, what the monthly fee is, and whether they have any restrictions based on your situation. Most will answer these questions in five minutes.
If you want to move fast and do not need to deposit cash, an online bank is the simplest choice. If you need cash deposits and want low fees, a credit union is usually better than a traditional bank. If you have been denied before or have no ID, call a community bank or credit union and ask about second-chance programs before you assume you cannot open an account.
Frequently Asked Questions
Do I need a job to open a bank account?
No. Banks do not require proof of employment. You need an ID and proof of address. If you receive unemployment benefits, Social Security, or income from any other source, that is enough. If you have no income at all, most banks will still open an account for you, though some may ask why you are opening it.
What if I do not have a current address?
Most banks require proof of address dated within the last 60 days. If you are homeless or living temporarily, ask the bank whether they accept a shelter address, a PO box, or a letter from a social service agency on letterhead. Some do; others do not. Call ahead rather than showing up without knowing.
Can I open an account with someone else's ID?
No. Banks are required by law to verify your identity using your own government-issued ID. Using someone else's ID is fraud and will result in the account being closed and reported to law enforcement. If you do not have an ID, work on getting one through your state's DMV or passport office before you try to open an account.
How long does it take to get a debit card after I open an account?
If you open an account in person at a branch, you usually get a temporary debit card the same day or within one business day. If you open online, the card arrives by mail in 7 to 10 business days. Some online banks offer a virtual card you can use when ready while you wait for the physical card.
What is the difference between a checking and savings account?
A checking account is for money you use regularly—paying bills, buying groceries, getting cash. A savings account is for money you want to keep and earn interest on. Most people open both. Checking accounts have no limit on withdrawals; savings accounts may charge a fee if you withdraw more than six times a month.