The documents and information you'll need before you walk in

To open a savings account, you need a government-issued photo ID, proof of your current address, and your Social Security number or Individual Taxpayer Identification Number (ITIN). Most banks also ask for an initial deposit—usually between $0 and $300, depending on the bank and account type. Some online banks have no minimum; others require $25 or more.

Bring these items in person to a branch, or have them ready if you're opening an account online. If you don't have a photo ID yet, you can still open an account at some banks using alternative documents, but the process takes longer and may require a second visit.

Key Takeaways

  • You need a government photo ID, proof of address, and a Social Security number or ITIN—these are the three documents almost every bank requires.
  • The initial deposit ranges from $0 to $300 depending on the bank, and some accounts have no minimum at all.
  • If you don't have a photo ID, some banks will open an account using a combination of other documents, but it takes extra time.
  • Online banks often have lower or no minimum deposits and fewer documents required than brick-and-mortar branches.
  • You'll need to choose between in-person and online opening, and each has different document requirements and timelines.

Government-issued photo ID and what counts

A driver's license, passport, state ID card, or military ID all work. The bank needs to see your name, date of birth, and photo to confirm you are who you say you are. If your ID has expired, most banks will still accept it as long as the photo is recognizable and the expiration date is recent (usually within the last five years).

If you don't have a photo ID, some banks will accept a combination of documents instead: a birth certificate plus a utility bill, or a Social Security card plus a lease. This route takes longer because the bank has to verify each document separately, and you may need to visit twice or wait for documents to be mailed to you.

Proof of address and which documents work

The bank needs to know where you live. A recent utility bill (electric, gas, water, internet), lease agreement, mortgage statement, or government mail with your name and address all count. "Recent" usually means from the last 60 to 90 days. If you don't have a utility bill in your name, a lease or rental agreement works just as well.

If you're homeless or living with someone else, tell the bank. Some will accept a shelter letter, a letter from a social services agency, or a statement from the person whose address you're using. The rules vary by bank, so call ahead if your situation is not straightforward.

Social Security number or ITIN

Banks are required by federal law to collect this number for tax reporting and fraud prevention. If you have a Social Security number, bring it or be ready to recite it. If you don't have one but are authorized to work in the United States, you can get an ITIN from the IRS. If you're not a U.S. citizen and don't have a Social Security number or ITIN, some banks will still open an account, but they'll ask more questions and may require additional documents.

You don't need to bring a physical card or document—the bank can look up your number in their system. But if you have your Social Security card, bringing it speeds up the process because the bank can verify it matches your ID.

Initial deposit amount and how it works

The deposit is money you put into the account on the day you open it. It's yours—the bank is not keeping it. The amount required varies widely. National banks like Chase and Bank of America often require $25 to $300 depending on the account type. Credit unions may require $5 to $50. Online banks like Ally, Marcus, or Discover often have no minimum deposit at all.

You can deposit by cash, check, debit card, or bank transfer. If you're opening the account online, you'll usually transfer money from another bank account you already have. If you're opening in person, you can hand the teller cash or a check. Some banks let you open an account with zero dollars and deposit later, but this is less common.

What happens if you don't have all the documents

Call the bank before you go in. Tell them what you have and what you don't. Many banks have workarounds for people who don't have a photo ID, don't have a lease, or don't have a Social Security number yet. The process takes longer—sometimes two to four weeks instead of 15 minutes—but it's possible.

If you're opening an account online and you're missing documents, the bank will usually tell you during the process process and give you the option to complete it in person or by mail. Don't assume you're blocked. Banks want your business and have procedures for situations like yours.

In-person versus online: what each route needs

Opening in person at a branch is faster if you have all your documents. You walk in, hand over your ID and proof of address, say your Social Security number, make a deposit, and walk out with a debit card or account number the same day. The bank verifies everything on the spot.

Opening online is faster if you don't have a photo ID or if the nearest branch is far away. You upload photos of your documents, type in your information, and transfer money from another account. The bank reviews everything after you submit, which takes one to three business days. You won't get a physical debit card when ready, but you can use the account right away with a temporary card number or transfers.

Frequently Asked Questions

Can I open a savings account without a Social Security number?

Yes, if you have an ITIN or are a non-citizen with a passport. Some banks will open an account for non-citizens without either, but they'll ask more questions and may require additional documents like a lease or utility bill in your name. Call the bank first to confirm their policy.

What if my address on my ID doesn't match where I live now?

Bring both your ID and a current proof of address (utility bill, lease, or recent mail). The bank will use the current address for your account. You don't need to update your ID first.

Do I need a minimum deposit to open the account?

It depends on the bank. Online banks and some credit unions have no minimum. Traditional banks usually require $25 to $300. Check the bank's website or call before you go in to know what to bring.

Can someone else open an account for me?

No. You must be present in person or complete the online process yourself. A parent or guardian can open an account for a minor, but the minor's Social Security number and birth certificate are still required.

How long does it take to open an account?

In person: 15 to 30 minutes if you have all documents. Online: one to three business days for the bank to verify and set up your account. You can start using it when ready in some cases, but a physical debit card takes five to seven business days to arrive.