Yes, you can open most savings accounts entirely online

Most banks and credit unions now let you open a savings account from your computer or phone without visiting a branch. You'll need a government ID, a Social Security number or tax ID, proof of your current address, and enough money to meet the opening deposit — which can be as low as $0 at some banks, or $25 to $100 at others.

The process usually takes 10 to 20 minutes. You answer questions about yourself, upload photos of your ID, and link a bank account or debit card to make your first deposit. Some banks approve you when ready; others review your information and contact you within a day or two.

Not every bank offers online-only accounts. Some require you to start in person or by mail. But the largest banks, most online-only banks, and many credit unions have made the full process digital.

Key Takeaways

  • You will need a government-issued ID, Social Security number, proof of address, and an initial deposit amount that varies by bank.
  • The online process usually takes 10 to 20 minutes and asks for personal information, employment details, and how you plan to use the account.
  • Most banks let you upload photos of your ID and link an existing bank account or debit card to fund your new account.
  • Approval happens when ready at some banks and within one to two business days at others; you can usually start using the account once it is approved.
  • If a bank declines your process, it is often because of past banking problems, not because you lack money or income.

What documents and information you will need

Before you start, gather these items. Having them ready makes the process faster and reduces the chance you'll need to restart.

Government-issued ID: A driver's license, passport, state ID card, or tribal ID. The bank will ask you to photograph both the front and back. If you don't have a government ID, some banks will work with you by phone or mail — call ahead to ask.

Social Security number or Individual Taxpayer Identification Number (ITIN): Banks are required by law to collect this. If you don't have a Social Security number, an ITIN (issued by the IRS to people who file taxes but don't have a Social Security number) works at most banks.

Proof of current address: A recent utility bill, lease, mortgage statement, or government mail with your name and address. It usually needs to be from the last 60 days. A bank statement from another bank also works. If you don't have these, some banks accept a phone bill or insurance statement.

Initial deposit amount: This varies widely. Some online banks require $0 to open. Others ask for $25, $100, or more. Check the specific bank's requirements before you start — it will be listed on their website.

A way to fund the account: You'll link an existing bank account or debit card to transfer your opening deposit. If you don't have either, some banks let you mail in a check or deposit cash at a partner location.

How the online process process works, step by step

The exact steps vary by bank, but the flow is similar everywhere.

Step 1: Start on the bank's website or app. Look for a button that says "Open an Account" or "get your free guide." You'll choose the type of account (savings, checking, or both) and answer basic questions about yourself: your full name, date of birth, email, phone number, and current address.

Step 2: Provide your Social Security number or ITIN. The bank runs a check against ChexSystems (a banking history database) and sometimes a credit bureau. This is not a credit check that affects your credit score — it's a background check to see if you've had problems with past bank accounts.

Step 3: Upload photos of your ID. You'll photograph the front and back of your government ID using your phone or computer camera. The image needs to be clear enough to read. If the photo is blurry, the bank will ask you to retake it.

Step 4: Verify your address. Upload a recent utility bill, lease, or other proof of address. Some banks verify this automatically; others review it by hand.

Step 5: Link a funding source and make your deposit. You'll enter the account number and routing number of an existing bank account or debit card. The bank transfers your opening deposit (or $0 if there's no minimum). Some banks send a small test deposit to your linked account to confirm it's real — you'll need to confirm the amount in your online banking.

Step 6: Review and sign. You'll read the account agreement and sign electronically. This is the legal contract between you and the bank.

What happens after you submit your process

After you hit submit, the bank reviews your information. At some online banks, you're approved when ready and can start using your account right away. At others, a person reviews your process within one business day and sends you an email or calls you.

If the bank approves you, you'll receive a confirmation email with your account number. You can log in to online banking and see your account balance. Your debit card (if you opened a checking account) usually arrives in 7 to 10 business days.

If the bank needs more information, they'll contact you by email or phone. Common requests are a clearer photo of your ID, proof that you live at your address, or clarification about your employment or income. Respond as soon as you can — if you don't reply within a few days, the process may be closed.

If the bank declines your process, they'll tell you why in writing. Common reasons are a negative ChexSystems report (a record of unpaid overdrafts, fraud, or closed accounts at other banks), a mismatch between your ID and the address you provided, or an inability to verify your identity. If you're declined, you can ask the bank to reconsider or try a different bank.

Banks that make the full process online versus those that don't

Most large national banks and online-only banks let you open an account entirely online. This includes Chase, Bank of America, Wells Fargo, Ally Bank, Marcus, and Discover. Credit unions vary — some allow full online opening, others require you to visit a branch or mail in documents.

If you're opening an account at a smaller local bank or credit union, call or visit their website first to ask whether you can open online. Some banks that don't offer full online opening will let you start the process online and finish by phone or mail.

If you don't have a government ID, online opening is harder. Some banks will work with you by phone or mail if you explain your situation. Community banks and credit unions are often more flexible than large national banks on this point.

What to do if you can't open an account online

If a bank declines you or doesn't offer online opening, you have other routes.

Try a different bank. Online-only banks and credit unions often have different approval standards. If one bank says no, another may say yes. Second-chance banking programs exist specifically for people with past banking problems — search for "second chance bank account" plus your state name to find options.

Open by mail. Some banks let you print an process, mail it in with copies of your documents, and fund the account by check. This takes longer (2 to 3 weeks) but works if you can't visit a branch.

Visit a branch in person. If you have a bank location near you, staff can often open an account on the spot or help you through the process if you're missing a document. Bring your ID, proof of address, and your opening deposit.

Use a community bank or credit union. These institutions often have more flexibility with people who don't have a traditional banking history or a government ID. Call ahead and ask what they need.

Frequently Asked Questions

Do I need a credit card to open a savings account online?

No. A credit card and a savings account are separate products. You need a way to fund your account — usually an existing bank account or debit card — but not a credit card. If you don't have either, ask the bank whether you can mail in a check or deposit cash at a partner location.

What if I don't have a government ID?

Online opening is difficult without one, but not impossible. Call the bank and explain your situation. Some will work with you by phone, ask for alternative documents (like a passport from another country), or let you open in person at a branch. Community banks and credit unions are often more flexible than large national banks.

Can I open an account if I've been declined by another bank?

Yes. Different banks have different standards. If one bank declines you, try another. If you were declined because of a ChexSystems report, you can request a copy of your report for free and dispute any errors. Second-chance banking programs exist specifically for people in this situation.

How long does it take to use my new account after I open it?

At online-only banks, you can usually start using your account the same day you open it. At traditional banks, approval may take one to two business days. Your debit card arrives in 7 to 10 business days, but you can transfer money and pay bills online before it arrives.

What if the bank asks for more information after I submit my process?

Respond as quickly as you can. The bank will contact you by email or phone with a specific request — usually a clearer photo of your ID or proof of your address. Send what they ask for within a few days. If you don't respond, your process may be closed and you'll need to start over.