Online banks let you open an account from your computer or phone without visiting a branch
You can open a checking account entirely online through banks that operate without physical locations, through the online division of traditional banks, or through credit unions that offer online services. The process typically takes 10 to 20 minutes and requires a valid ID, Social Security number, and proof of address. Money can arrive in your account within one to three business days, and you can start using a debit card or transfers immediately in many cases.
The main difference between online-only banks and traditional banks with online options is speed and features. Online-only banks (sometimes called neobanks) often open accounts faster and charge no monthly fees. Traditional banks offer the same online opening but may have monthly maintenance fees unless you meet balance or deposit requirements.
Key Takeaways
- Online banks, online divisions of traditional banks, and online credit unions all let you open a checking account without visiting a branch.
- You will need a valid government ID, Social Security number, and proof of address (utility bill, lease, or bank statement) to complete the application.
- The account opens in minutes, but funds you deposit may take one to three business days to appear and be usable.
- Online-only banks typically charge no monthly fees, while traditional banks may charge fees unless you maintain a minimum balance or set up direct deposit.
- You can use your debit card or make transfers as soon as the account is open, even if deposits are still processing.
What you need before you start
Gather these documents before you begin the application: a valid government-issued ID (driver's license, passport, or state ID), your Social Security number, and proof of your current address. Proof of address can be a recent utility bill, lease agreement, bank statement, or government document with your name and address on it. The document typically needs to be from the last 30 to 90 days, depending on the bank.
You will also need a way to fund the account—either a debit card, another bank account for a transfer, or a check you can deposit through mobile deposit. Some banks require an initial deposit to open the account; others let you open it with zero dollars and deposit later. Have your phone or computer ready, because the application asks you to verify your identity in real time, sometimes through a video call or by taking a photo of your ID.
Online-only banks and their opening process
Online-only banks (such as Chime, Ally, Charles Schwab Bank, and others) operate no physical branches and handle everything through their website or app. They typically charge no monthly maintenance fees and offer no-fee overdraft protection or early direct deposit. Opening an account takes 5 to 15 minutes: you enter your personal information, upload or photograph your ID, verify your Social Security number, and confirm your address.
After you submit the application, the bank verifies your identity—usually instantly or within a few hours. You can then transfer money from another account or deposit a check through your phone camera. Your debit card ships within 5 to 10 business days, though many online banks let you use a temporary digital card in their app right away. The tradeoff is that online-only banks have no physical location if you need to deposit cash or speak to someone in person.
Traditional banks opening accounts online
Major banks (Chase, Bank of America, Wells Fargo, and others) let you open a checking account on their website without visiting a branch. The process is similar to online-only banks: you provide your ID, Social Security number, and address, and the bank verifies your identity online. Opening takes 10 to 20 minutes, and your account is active immediately.
Traditional banks often charge a monthly maintenance fee ($10 to $15 is common), but the fee is waived if you maintain a minimum balance (often $500 to $1,500), set up direct deposit, or use their debit card a certain number of times per month. They offer the advantage of physical branches where you can deposit cash, withdraw large amounts, or speak to a person. Your debit card typically arrives within 7 to 10 business days, and you can use a temporary digital card in their app right away.
Credit unions with online account opening
Credit unions are member-owned financial institutions that often charge lower fees than banks. Many credit unions now let you open a checking account online, though some still require an in-person visit or membership in a specific group (such as employees of a particular company or residents of a certain county). To find credit unions you can join, use the CO-OP Network locator or search by your employer, school, or location.
Credit union checking accounts typically have no monthly fees and offer competitive interest rates on savings. The application process is the same as banks: provide your ID, Social Security number, and address online. One limitation is that credit unions have fewer ATMs than large banks, though most participate in shared branching networks that let you use other credit unions' ATMs and branches. Opening takes 10 to 20 minutes, and your account is active the same day.
How long deposits take and when you can use your money
When you transfer money from another bank account to your new checking account, the transfer typically takes one to three business days. If you deposit a check through mobile deposit (photographing the check with your phone), it takes one to three business days for the bank to clear the check and make the funds available. Some banks offer next-day or same-day clearing for mobile deposits, but this varies by bank and deposit amount.
You can usually start using your debit card or making transfers as soon as your account opens, even if deposits are still processing. However, the money you transfer or deposit will not be available to spend until it clears. If you need cash immediately, deposit it in person at a branch (if the bank has one) or use an ATM at a bank or credit union that participates in the same network.
Comparing fees and features across account types
| Account Type | Monthly Fee | Opening Time | Physical Branches | Cash Deposits |
|---|---|---|---|---|
| Online-only bank | $0 (typical) | 5–15 minutes | None | Not available |
| Traditional bank (online) | $10–$15 (waivable) | 10–20 minutes | Yes | Yes, in branch |
| Credit union (online) | $0 (typical) | 10–20 minutes | Limited | Yes, at member branches |
Online-only banks are fastest and cheapest if you do not need to deposit cash or speak to someone in person. Traditional banks cost more but offer branches and cash deposits. Credit unions split the difference: no fees, limited branches, and shared access to other credit union ATMs and branches.
Your choice depends on how you plan to use the account. If you rarely deposit cash and want the lowest fees, an online-only bank works well. If you need to deposit cash regularly or prefer speaking to someone in person, a traditional bank or credit union is better despite higher fees.
What happens after your account opens
Once your account is open, you can log in to your bank's website or app to check your balance, set up bill pay, transfer money, and manage your account. Your debit card will arrive by mail within 5 to 10 business days. Until it arrives, you can use a temporary digital card in the bank's app to make online purchases or contactless payments with your phone.
Set up direct deposit if your employer or government benefits provider offers it—this is the fastest way to get money into your account (often next business day) and may waive monthly fees at traditional banks. You can also set up automatic transfers from another account, link external accounts for transfers, and turn on alerts for low balances or large transactions. Most banks let you change your PIN, set spending limits, and freeze your card through the app if needed.
Frequently Asked Questions
Can I open an account if I do not have a Social Security number?
Most banks require a Social Security number or Individual Taxpayer Identification Number (ITIN) to open a checking account. Some banks and credit unions accept an ITIN if you do not have a Social Security number. Call the bank directly to ask whether they work with ITINs before you start the application.
What if my address proof is older than 90 days?
Most banks accept documents up to 90 days old. If your document is older, try using a recent bank statement, credit card statement, or utility bill instead. If none of those work, contact the bank's customer service—some will make exceptions or ask you to verify your address by phone or video call.
Can I open an account with a temporary ID or passport?
Yes, most banks accept a valid passport or temporary state ID. The ID must be government-issued and not expired. If you have only a temporary ID, call the bank first to confirm they will accept it, because some require a permanent ID.
Do I have to make an initial deposit to open the account?
Most online-only banks and credit unions let you open an account with zero dollars. Traditional banks sometimes require a minimum opening deposit (often $25 to $100), though many waive this if you set up direct deposit. Check the bank's website or call before you start the application.
Can I use my account before my debit card arrives?
Yes. You can transfer money, pay bills online, and make purchases using a temporary digital card in the bank's app as soon as your account opens. You can also use your account number and routing number to set up direct deposit or transfers from another bank.