You can open a Bank of America savings account online without visiting a branch, using just your Social Security number, a valid ID, and a funding source
The entire process takes about 15 minutes on Bank of America's website or mobile app. You'll need to be at least 18 years old, a U.S. citizen or permanent resident, and have a valid government-issued ID. Bank of America will verify your identity electronically during signup — you don't need to mail anything in or wait for approval.
Once your account opens, you can fund it immediately with a transfer from another bank account, a debit card, or a wire transfer. Your account number and routing number appear right away, so you can start receiving direct deposits the same day if needed.
Key Takeaways
- You need a Social Security number, valid ID, and proof of current address to open an account online.
- Bank of America verifies your identity instantly during signup — there is no waiting period or manual review for most applicants.
- You can fund your account immediately with a transfer from another bank, a debit card, or a wire transfer.
- Your account number and routing number are available as soon as the account opens, so you can set up direct deposit the same day.
- Bank of America offers several savings account types with different interest rates and minimum balance requirements.
What you need before you start
Gather these items before you open your browser: your Social Security number, a valid government-issued ID (driver's license, passport, or state ID), your current address, and your phone number. Bank of America will ask for all of these during signup.
You'll also need a way to fund the account. This can be a debit card, a checking account at another bank (you'll provide the account and routing numbers), or a wire transfer. You don't need an existing Bank of America account — this is your first one.
If you're applying from outside the United States, Bank of America requires a U.S. address and a U.S. phone number. Military personnel stationed abroad can use their military address.
The step-by-step process on Bank of America's website
Go to bankofamerica.com and click "Open an Account" in the top navigation. Select "Savings" from the account type menu. Bank of America will show you the current savings account options — typically the Regular Savings Account and the Advantage Savings Account, which have different interest rates and monthly fees.
Click "Open Now" on the account you want. Enter your email address, create a password, and answer security questions. Bank of America will send a verification code to your email — check your inbox and enter it to continue.
On the next screen, enter your full name, date of birth, Social Security number, and current address. Bank of America verifies this information against credit bureaus and government records in real time. If verification succeeds, you'll move to the next step within seconds. If it fails, you'll see a message asking you to call customer service or visit a branch.
Select your account funding method. If you're transferring from another bank, enter that bank's name, your account number, and routing number. If you're using a debit card, enter the card number and expiration date. Bank of America will ask how much you want to deposit — there's no minimum for most savings accounts, though some have a $300 minimum to avoid a monthly fee.
Review the account terms, check the box confirming you've read them, and click "Submit." Your account opens immediately. Your account number, routing number, and other details appear on screen and are also sent to your email.
Opening an account on the Bank of America mobile app
Download the Bank of America mobile app from the Apple App Store or Google Play Store. Tap "Open an Account" at the bottom of the login screen. The process is identical to the website version — you'll enter the same information and follow the same verification steps.
The mobile app may ask for permission to access your camera so you can photograph your ID instead of typing the number manually. This speeds up the process slightly but is optional.
What happens after your account opens
Your savings account is active immediately, and you can start using it right away. If you funded it with a debit card, that charge appears on your card within one to two business days. If you transferred money from another bank account, the transfer typically arrives within one to three business days, depending on your other bank's processing speed.
Your account number and routing number are ready to use for direct deposits, wire transfers, or other incoming payments. You can set up direct deposit with your employer or benefit provider the same day your account opens.
Bank of America sends a debit card to your mailing address within 7 to 10 business days. You can use your account online or through the mobile app before the card arrives. If you need a card sooner, visit a Bank of America branch and ask for an expedited card — some branches can issue one on the spot.
Interest rates and monthly fees
Bank of America's savings account interest rates change based on the Federal Reserve's rate decisions. Check bankofamerica.com for the current rate on the account type you're opening — rates vary between the Regular Savings Account and the Advantage Savings Account.
The Regular Savings Account has no minimum balance requirement but charges a $3 monthly maintenance fee if your balance falls below $300. The Advantage Savings Account requires a $2,500 minimum balance and waives the fee if you maintain that balance. If your balance drops below $2,500, you pay $12 per month.
You can waive the monthly fee on either account if you set up a direct deposit of at least $250 per month or maintain a linked Bank of America checking account with a $1,500 minimum balance.
If verification fails during signup
Bank of America's automated verification system checks your information against credit bureaus, the Social Security Administration, and state ID databases. Most applicants pass this check instantly. If you don't, you'll see a message saying verification couldn't be completed.
This usually happens if there's a mismatch between the name, address, or Social Security number you entered and what's on file with those agencies. Double-check your spelling and try again. If the problem persists, call Bank of America customer service at 1-800-432-1000 or visit a branch in person with your ID and proof of address. A representative can open your account manually.
Verification can also fail if you've recently moved and your address hasn't updated in government records yet. Bring a recent utility bill or lease to a branch to prove your current address.
Frequently Asked Questions
Can I open a savings account if I don't have a Social Security number?
No. Bank of America requires a Social Security number for all deposit accounts. If you're a permanent resident or visa holder without a Social Security number, you'll need to apply for an Individual Taxpayer Identification Number (ITIN) from the IRS first. You can then use that number to open an account.
What if I don't have a government-issued ID?
You'll need one to open an account online. If you don't have a driver's license or passport, visit your state's DMV to get a state ID card. Once you have it, you can complete the online signup. Alternatively, visit a Bank of America branch in person with whatever ID you do have — a representative may be able to help.
How long does it take to receive my debit card?
Bank of America mails debit cards within 7 to 10 business days. You can use your account online and through the mobile app before the card arrives. If you need a card faster, visit a branch and ask for an expedited card — some locations can issue one immediately.
Can I open a savings account if I have a negative bank history?
Bank of America checks ChexSystems, a database of banking history, during signup. If you've been reported for unpaid overdrafts or fraud at another bank, your application may be denied. Call customer service at 1-800-432-1000 to ask about your status, or visit a branch to discuss your options.
Do I need an existing Bank of America checking account to open a savings account?
No. You can open a savings account as your first Bank of America account. However, linking a checking account later can help you waive the monthly maintenance fee on your savings account.