What you need to open a Bank of America account
Bank of America lets you open a checking or savings account online, by phone, or in person at a branch. You'll need a valid government-issued ID (driver's license, passport, or state ID), your Social Security number, and an initial deposit. The deposit amount depends on the account type—some accounts have no minimum, while others require $100 or more. You can fund the account with a debit card, transfer from another bank, or cash if you open in person.
The entire process takes about 10 to 15 minutes online. Bank of America will run a background check through ChexSystems, which is a banking history database. This check looks for unpaid overdrafts, fraud, or other issues at previous banks. If you have a history of problems with bank accounts, you may be denied, though Bank of America does offer second-chance accounts in some cases.
You'll also need a current mailing address and a phone number. If you're opening online, you'll receive a temporary debit card number immediately and can use it for online purchases right away. Your physical card arrives in 7 to 10 business days.
Key Takeaways
- You need a valid ID, Social Security number, and an initial deposit to open any Bank of America account.
- Online account opening takes 10 to 15 minutes and gives you a temporary debit card number the same day.
- Bank of America checks your banking history through ChexSystems, and past overdrafts or fraud can result in denial.
- Your physical debit card arrives within 7 to 10 business days of opening the account.
- Some account types have no minimum deposit, while others require $100 or more to open.
Opening an account online
Go to bankofamerica.com and click the link to open a new account. You'll be asked to choose between a checking account, savings account, or money market account. Select the specific product—Bank of America offers several versions of each, with different features and fee structures. Read the product details carefully, because some accounts charge monthly fees if you don't maintain a minimum balance or set up direct deposit.
Enter your personal information: full name, date of birth, Social Security number, address, phone number, and email. Bank of America will verify your identity by asking security questions based on your credit history. Answer these accurately—the system is checking against credit bureau records. If you can't answer enough questions correctly, you'll be asked to verify your identity another way, such as uploading a photo of your ID.
Choose how you'll fund the account. You can transfer money from another bank account (you'll need the routing number and account number), use a debit card, or link a credit card. If you transfer from another bank, the money typically arrives within 1 to 3 business days. Once your identity is verified and your deposit is confirmed, your account is open. You'll receive login credentials by email and can access your account immediately through the Bank of America website or mobile app.
Opening an account in person at a branch
Bring your ID, Social Security number, and initial deposit to any Bank of America branch. A banker will walk you through the account setup, answer questions about the different account types, and help you choose the right one for your needs. This route is useful if you have questions about fees, features, or which account makes sense for your situation. The banker can also explain overdraft protection and other services available to you.
In-person opening takes about 20 to 30 minutes. You'll sign documents, confirm your information, and make your deposit. You can deposit cash, a check, or transfer funds from another account. Your temporary debit card is issued on the spot, and your physical card arrives within 7 to 10 business days. You'll receive your login information before you leave the branch.
Opening an account by phone
Call Bank of America at 1-800-432-1000 to open an account over the phone. A representative will guide you through the process, verify your identity, and help you choose an account type. This option works well if you prefer speaking to someone or have questions that aren't answered on the website. The call typically takes 15 to 20 minutes.
You'll need to fund the account by transferring money from another bank or using a debit card. Bank of America cannot accept cash deposits over the phone. After the call ends, you'll receive your login credentials by email and can access your account immediately. Your physical debit card arrives within 7 to 10 business days.
Account types and what they cost
Bank of America offers several checking and savings products. The most common checking account is the Advantage SafePass Checking, which has no monthly fee if you set up direct deposit or maintain a $500 minimum balance. Without either, the fee is $12 per month. The Advantage Plus Checking account costs $15 per month unless you maintain a $1,500 balance or set up direct deposit.
For savings, the Advantage Savings account has no monthly fee if you maintain a $300 minimum balance. Below that, the fee is $5 per month. Interest rates on savings accounts change frequently and are typically very low—often less than 0.01% annually. Check the current rate on the Bank of America website before opening.
All accounts include online banking, mobile app access, and the ability to use Bank of America's ATM network for free. If you use an out-of-network ATM, Bank of America charges $2.50 per transaction, and the other bank may charge an additional fee. Overdraft fees are $35 per transaction if you spend more than your balance.
What happens after your account opens
Once your account is open, you can set up direct deposit, schedule bill payments, transfer money to other accounts, and use your debit card for purchases and ATM withdrawals. Your temporary debit card number works immediately for online and phone purchases. When your physical card arrives, activate it through the Bank of America app or website before using it in stores.
If you need to deposit checks, you can use mobile check deposit through the Bank of America app—photograph the front and back of the check, and the funds are usually available within 1 to 2 business days. You can also deposit checks at any Bank of America ATM or branch.
Review your account settings to understand overdraft protection and fraud monitoring. Bank of America monitors accounts for suspicious activity and will contact you if they detect something unusual. You can also set up alerts to notify you when your balance drops below a certain amount or when large transactions occur.
If your account is denied
Bank of America may deny your account if ChexSystems shows unpaid overdrafts, fraud, or repeated insufficient funds issues at other banks. If this happens, you'll receive a letter explaining the reason. You have the right to request a copy of your ChexSystems report and dispute any errors on it.
Contact ChexSystems directly at 1-800-428-9623 or visit chexsystems.com to review your report and file a dispute if information is wrong. Correcting errors can take 30 to 60 days. After disputes are resolved, you can reapply with Bank of America.
If you're denied, Bank of America may offer a second-chance checking account in some regions. These accounts have higher fees and lower limits on debit card transactions, but they're designed for people with banking history issues. Ask a banker whether this option is available to you.
Frequently Asked Questions
Can I open a Bank of America account without a Social Security number?
No. Bank of America requires a Social Security number to open any account. If you don't have one, you cannot open a personal account. Some banks offer accounts for people without a Social Security number, but Bank of America is not one of them.
What's the minimum deposit to open a Bank of America account?
It depends on the account type. Some checking accounts have no minimum deposit requirement. Others require $100 or more. Check the specific product details before opening to see what deposit is required for the account you want.
How long does it take to receive my physical debit card?
Your physical debit card arrives within 7 to 10 business days. You can use a temporary card number for online and phone purchases immediately after opening your account online. If you open in person, you receive a temporary card at the branch.
Can I open a joint account with someone else?
Yes. Both people need to be present (in person or online together) to open a joint account. Each person must provide their own ID and Social Security number. You can decide whether both people need to sign off on withdrawals or if either person can access the account alone.
What if I have a negative ChexSystems report from years ago?
Negative items stay on your ChexSystems report for five years. After five years, they fall off automatically. If an item is older than five years and still showing, you can dispute it with ChexSystems. You can also ask Bank of America about second-chance accounts if you're denied due to older issues.