What you need before you walk in or go online

Most banks and credit unions will ask for a government-issued ID, proof of your current address, and your Social Security number or tax ID. Bring a driver's license, passport, or state ID card. For proof of address, a recent utility bill, lease, or bank statement works. If you don't have an SSN, some institutions will accept an ITIN (Individual Taxpayer Identification Number) instead.

You'll also need to decide how much money to put in when you open the account. Many banks have no minimum deposit requirement, but some still do—anywhere from $25 to $500. Check the bank's website or call ahead to know what to expect. You can open an account with $0 at many online banks and credit unions, then deposit money later.

Have a list of any other banks where you currently have accounts. Banks use this to check ChexSystems, a database that tracks account history. If you've had problems with overdrafts or fraud at another bank, the new bank may see that record. It won't automatically disqualify you, but some banks use it to decide whether to open your account.

Key Takeaways

  • Bring a government-issued ID, proof of your address, and your Social Security number or ITIN to open an account in person or online.
  • Many banks have no minimum deposit, but some require $25 to $500 to start; check before you go.
  • You can open an account at a physical branch, through a bank's website, or at a credit union—each takes a different amount of time.
  • Banks will check your ChexSystems history, which records past account problems, but a negative history does not automatically block you from opening a new account.
  • After you open the account, you'll receive debit card information and online banking login details within one to two weeks.

Opening an account in person at a branch

Walk into any branch of the bank where you want to open an account and ask to speak with a new accounts representative or a teller. Bring your ID, proof of address, and SSN. The representative will ask you questions about how you plan to use the account—whether you'll deposit checks, use direct deposit, or mainly withdraw cash. These answers help them recommend account features you might need.

The whole process takes 15 to 30 minutes. You'll sign paperwork, choose a PIN for your debit card, and decide whether you want overdraft protection (which lets the bank cover a purchase if you don't have enough money, usually for a fee). The account opens immediately, but your debit card and checks arrive by mail in one to two weeks. You can start using the account right away if you set up online banking at the branch.

Opening in person is useful if you want to ask questions face-to-face or if you're uncomfortable with online banking. It's also the fastest way to get a debit card if the branch can issue one on the spot—some do, some don't. Call your local branch first to ask whether they issue cards same-day.

Opening an account online

Most banks and all major online-only banks let you open a checking account from your computer or phone. Go to the bank's website, click "Open an Account" or "New Customer," and follow the steps. You'll enter your name, address, phone number, email, and Social Security number. The bank will ask about your employment and income, then run a background check through ChexSystems.

You'll need to verify your identity, which usually means uploading a photo of your ID or answering security questions based on your credit history. Some banks use video verification—you'll video call a representative who watches you hold up your ID. This takes five to ten minutes. After verification, the account opens instantly, and you can log into online banking right away.

Your debit card arrives by mail in five to ten business days. Until then, you can transfer money in from another account, receive direct deposits, or use your account number to set up bill pay. Online accounts often have no minimum deposit and lower monthly fees than branch accounts, but you can't deposit cash or speak to someone in person without visiting an ATM or branch.

Opening an account at a credit union

Credit unions work differently from banks. You must become a member before you can open an account. Membership usually requires living or working in a specific area, belonging to a certain employer or organization, or paying a small membership fee (typically $5 to $25, one time). Some credit unions let you become a member online; others require you to visit in person.

Once you're a member, opening a checking account takes the same steps as at a bank—bring your ID, proof of address, and SSN. Many credit unions have no minimum deposit and lower fees than banks. They also tend to be more flexible if you have a negative ChexSystems history. The process takes 15 to 30 minutes in person or 10 to 20 minutes online, depending on the credit union.

Credit unions are smaller than banks, so they may have fewer ATMs and branches. Before you join, check whether there's an ATM network you can use for free. Many credit unions belong to shared branching networks, which means you can do basic transactions at other credit unions' branches.

What happens after you open the account

Your account is active immediately, but you won't have a debit card or checks for one to two weeks. During that time, you can still use the account. Set up online banking and mobile banking so you can transfer money, pay bills, and check your balance. If you need cash before your debit card arrives, you can withdraw from any ATM that your bank owns or partners with, or visit a branch and ask a teller to withdraw for you.

If you opened the account online, you'll receive a welcome email with your account number and routing number. Write these down—you'll need them to set up direct deposit or to have someone send you money. Your debit card will arrive in an envelope with a PIN. Activate the card by calling the number on the back or using the bank's app before you use it.

Some banks send you a welcome packet with information about overdraft protection, savings accounts, and credit products. Read the overdraft section carefully. If you don't want overdraft protection, you can opt out—this means purchases will be declined if you don't have enough money, rather than the bank covering them and charging you a fee.

If you have a negative ChexSystems history

A negative ChexSystems record means you had unpaid overdrafts, fraud, or other problems at a previous bank. This doesn't automatically stop you from opening a new account, but some banks will deny you. Others will open an account but with restrictions—no overdraft protection, lower spending limits, or higher fees.

If you're denied, ask the bank why. They're required to tell you. If it's because of ChexSystems, you can dispute the record by contacting ChexSystems directly. You have the right to see what's in your file and to add a statement explaining your side of the story. This takes 30 days but can help when you apply elsewhere.

Second-chance banking accounts exist specifically for people with ChexSystems problems. These accounts have higher fees and lower limits, but they help you rebuild your banking history. After six to twelve months of good standing, you can often move to a regular account. Credit unions are often more willing to work with people who have negative histories than large banks are.

Choosing between banks and credit unions

Banks are larger, have more branches and ATMs, and often have lower fees for basic checking. Credit unions are smaller, have lower fees overall, and tend to be more flexible with people who have banking problems. Banks are better if you travel a lot or need access to many ATMs. Credit unions are better if you want personal service and lower costs.

Online banks have the lowest fees and no minimum deposit, but no physical branches. They work well if you're comfortable doing everything on your phone or computer and don't need to deposit cash. Traditional banks and credit unions are better if you deposit cash regularly or want to talk to someone in person.

Compare the monthly fee, overdraft fee, ATM network, and minimum balance requirement for each account you're considering. Many banks waive the monthly fee if you set up direct deposit or keep a certain balance. Read the fine print about overdraft protection—some banks charge $30 to $35 per overdraft, which adds up fast.

Frequently Asked Questions

Can I open a checking account if I don't have a Social Security number?

Yes. If you have an ITIN (Individual Taxpayer Identification Number), most banks will accept it instead of an SSN. Some banks also accept a passport number or state ID number. Call the bank ahead of time to confirm what they'll take, because policies vary.

What if I don't have proof of address?

If you don't have a utility bill or lease, bring a bank statement, credit card statement, or government mail with your name and address. Some banks will accept a letter from a shelter, social services agency, or employer on letterhead. Call the bank first to ask what documents they accept.

How long does it take to open an account online?

The application itself takes 10 to 15 minutes. Identity verification takes another 5 to 10 minutes if you answer security questions, or up to 20 minutes if you do a video call. The account opens immediately after verification, but your debit card arrives in 5 to 10 business days.

Do I have to use overdraft protection?

No. You can opt out when you open the account or anytime after. Without overdraft protection, your card will be declined if you don't have enough money. With it, the bank covers the purchase and charges you a fee, usually $30 to $35. Choose based on whether you'd rather be declined or pay a fee.

Can I open multiple checking accounts at the same bank?

Yes, most banks let you open more than one account. Some people open separate accounts for bills, savings, and spending to keep money organized. There's usually no fee for having multiple accounts, but each one may have its own monthly fee if you don't meet the requirements.