Most major banks and online-only banks let you open a checking or savings account entirely online, but the process and what you need differs by institution

You can open a bank account online at nearly every large U.S. bank—Chase, Bank of America, Wells Fargo, Citibank—and at online-only banks like Ally, Charles Schwab Bank, and Marcus by Goldman Sachs. The account opens in your browser or mobile app, usually in 10 to 15 minutes. You will not need to visit a branch or mail anything in.

The catch is that banks verify your identity differently, and some require a minimum deposit before the account is active. A few still ask you to mail in documents or visit a branch to finish the process, though this is becoming rare. The type of account—checking, savings, money market—does not usually matter; most banks let you open any of them online.

Key Takeaways

  • You can open checking and savings accounts online at most major banks and all online-only banks, with the account active within minutes to one business day.
  • Banks verify your identity using your Social Security number, driver's license number, and answers to security questions based on your credit history.
  • Some banks require a minimum opening deposit (often $25 to $100), while others let you open with zero dollars and fund it later.
  • A few regional banks and credit unions still require a branch visit or mailed documents to complete the process, so check the specific institution's requirements before starting.

What you need to open an account online

Have your Social Security number, a government-issued ID (driver's license or passport), and your current address ready. Most banks will ask for your date of birth and the last four digits of your Social Security number first, then ask you to upload a photo of your ID or enter the information manually.

Banks then verify your identity by asking security questions—usually about your credit history, past addresses, or previous loans. These questions come from a third-party verification service and are based on public records. You answer three to five questions, and if you get most of them right, the bank confirms your identity and opens the account.

If you fail the security questions, some banks will let you try again or ask for additional documents. Others will tell you to visit a branch or call customer service. This happens most often if you have recently moved, have a thin credit history, or have a common name that matches multiple people in the database.

Minimum deposits and when the account is ready to use

Most online banks (Ally, Charles Schwab, Marcus) let you open with $0 and fund the account whenever you want. Major banks vary: Chase requires $25 for some savings accounts and checking accounts, Bank of America requires $100 for certain accounts, and Wells Fargo has no minimum for many products. Check the specific account type on the bank's website before you start, because minimums change and differ by account.

Once you complete the online process and pass identity verification, the account is usually active when ready or within one business day. You can see the account number and routing number in your online banking portal right away, even if you have not yet deposited money. Some banks hold the account in a "pending" state for 24 hours before you can transfer money in, but this is uncommon.

Banks that still require a branch visit or mailed documents

Most regional banks and credit unions require you to visit a branch in person or mail in a signed document to complete the account opening. This is less common than it was five years ago, but it still happens. If you are opening an account at a smaller institution, call or check their website before you start the online process—they will tell you upfront whether you need to come in.

Some banks ask you to mail in a voided check or a signed signature card after you open online. This adds one to two weeks to the process. A few credit unions require you to visit a branch to fund the account, even if you opened it online.

How to fund the account once it is open

Once the account is active, you can fund it by transferring money from another bank account (using the account and routing numbers), setting up direct deposit from your employer, or depositing a check via mobile app if the bank offers mobile check deposit. Most banks let you do all three when ready after opening.

If you are transferring from another bank, the transfer usually takes one to three business days. Direct deposit can take one to two pay cycles to set up, depending on your employer's payroll schedule. Mobile check deposit (if available) clears within one to two business days.

Differences between online-only banks and traditional banks with branches

Online-only banks (Ally, Charles Schwab, Marcus, Discover Bank) have no physical branches, so they offer higher interest rates on savings accounts and checking accounts because they have lower overhead. They also tend to have lower or no minimum deposits. The trade-off is that you cannot deposit cash in person or speak to someone face-to-face at a branch.

Traditional banks with branches (Chase, Bank of America, Wells Fargo) let you visit a branch to deposit cash, withdraw money, or speak to someone in person. They usually offer lower interest rates on savings accounts because they maintain physical locations. Some have higher minimum deposits, though many have lowered these in recent years.

Both types open accounts online the same way—through identity verification and a few minutes of form-filling. The difference is what you can do after the account is open.

What happens if identity verification fails

If you do not pass the security questions, the bank will usually tell you when ready and give you options. Some banks let you try again with different questions. Others ask you to call customer service or visit a branch with your ID and Social Security card.

A few banks will ask you to mail in a copy of your ID and a utility bill or other proof of address. This adds one to two weeks to the process. If you are opening an account and hit this roadblock, contact the bank's customer service line to find out what documents they need and whether you can mail them or must visit a branch.

Frequently Asked Questions

Can I open a bank account online if I do not have a credit history?

Yes. Banks verify your identity using your Social Security number and government ID, not your credit score. However, if you have no credit history, you might not pass the security questions (which are based on credit records). In that case, the bank will ask you to visit a branch or mail in documents instead.

Do I need to have money in another bank account to open one online?

No. You can open an account with $0 at most online banks and many traditional banks. You do not need to transfer money when ready. However, some banks require a minimum deposit before the account is fully active, so check the specific bank's requirements.

How long does it take to open a bank account online?

The online process itself takes 10 to 15 minutes. Identity verification is usually when ready, and the account is active within one business day. If the bank asks you to mail in documents or visit a branch, add one to two weeks.

Can I open multiple accounts at the same bank online?

Yes. Once you have one account open at a bank, you can open additional checking, savings, or money market accounts online without going through identity verification again. The process takes just a few minutes.

What if the bank says I cannot open an account online?

Some banks decline online account openings for people with certain credit histories, fraud flags, or identity verification issues. If this happens, ask the bank whether you can visit a branch or mail in documents instead. You may also be able to open an account at a different bank.