What you need to bring and where to start
To open a bank account, you need a government-issued photo ID, proof of your current address, and your Social Security number or Individual Taxpayer Identification Number (ITIN). Walk into any branch of a bank or credit union, or start the process online through their website. Most banks let you open an account in 15 to 30 minutes in person, or 10 to 20 minutes online.
You do not need an existing account, a minimum deposit, or perfect credit to open a basic checking or savings account. Some banks charge monthly fees; others waive them if you keep a minimum balance or set up direct deposit. Compare what different banks charge before you choose, because fees add up over time.
If you do not have a photo ID, you can use a passport, state ID, or driver's license. If you do not have a permanent address, some banks accept a shelter address, a PO box, or a friend's address where mail can reach you. Call ahead to ask what your specific bank accepts.
Key Takeaways
- You need a photo ID, proof of address, and a Social Security number or ITIN to open an account at most banks and credit unions.
- Online accounts open faster than in-person accounts and often have lower or no monthly fees, but you cannot deposit cash without a linked ATM or branch.
- Banks run a background check through ChexSystems, which records closed accounts and fraud; if you are flagged, ask the bank what the issue is and request a copy of your report.
- Bring a small initial deposit (often $25 to $100) to activate the account, though some banks waive this requirement if you set up direct deposit.
- After opening, you will receive a debit card in 7 to 10 business days and can start using your account immediately with temporary card numbers or mobile wallet access.
The difference between opening in person and online
Opening an account in person at a branch takes longer but lets you ask questions and deposit cash the same day. You sit with a banker, show your ID and proof of address, sign paperwork, and leave with a temporary debit card or card number you can use right away. If you have questions about fees, overdraft protection, or account features, a banker can walk you through them.
Opening online is faster and often cheaper. You upload photos of your ID and proof of address, enter your information, and confirm your identity through a video call or by answering security questions. You can open an account at 11 p.m. on a Sunday. The tradeoff: you cannot deposit cash without a linked ATM or a branch location, and if something goes wrong with your documents, you may have to call customer service to fix it.
Online banks (banks with no physical branches) usually have the lowest fees and highest interest rates on savings accounts, but they only let you deposit checks by mobile app and withdraw cash at ATMs. Traditional banks and credit unions have branches where you can deposit cash and talk to someone in person, but they often charge monthly fees unless you meet certain conditions.
Documents and information you will need
Gather these before you go to the bank or start an online application:
- A government-issued photo ID (driver's license, state ID, or passport)
- Proof of your current address (utility bill, lease, mortgage statement, or government mail dated within the last 60 days)
- Your Social Security number or ITIN
- Your phone number and email address
- A small initial deposit, usually $25 to $100 (some banks waive this if you set up direct deposit)
If your proof of address is old or you do not have one, call the bank ahead of time and ask what they accept. Some banks take a recent bank statement, a lease agreement, or even a letter from a shelter or social service agency. If you do not have a Social Security number, an ITIN (issued by the IRS to people who file taxes but are not may be able to access for a Social Security number) works at most banks.
If you have never had a bank account or closed one under bad circumstances, the bank will check your history through ChexSystems, a company that tracks checking and savings accounts. If you are flagged, the bank will tell you why and may deny your application. You can request a free copy of your ChexSystems report to see what is on file and dispute errors.
What happens after you open the account
Your account is active immediately, but your physical debit card arrives in 7 to 10 business days. Most banks give you a temporary card number or let you add your account to a mobile wallet (Apple Pay, Google Pay) so you can start spending before the card arrives. You can also set up direct deposit, transfer money from another account, or deposit checks by mobile app right away.
Your first statement arrives 30 days after you open the account and shows all your transactions, fees, and interest earned (if you opened a savings account). Review it carefully to make sure all transactions are yours and no unauthorized charges appear. If something is wrong, contact the bank within 60 days to dispute it.
Once your account is open, you can set up automatic bill payments, link it to other accounts for transfers, and use it to receive paychecks or government payments. Keep your account active by using it at least once every 90 days; banks can close inactive accounts without notice.
Checking versus savings: which account type to open
A checking account is for money you spend regularly. It comes with a debit card and check-writing ability, has no limit on how many times you withdraw, and usually earns little or no interest. Use it for bills, groceries, and everyday expenses.
A savings account is for money you want to keep and grow. It earns interest (the rate varies by bank and changes monthly), but most banks limit you to six withdrawals per month. Use it to build an emergency fund or save toward a goal.
Many people open both at the same bank. A checking account handles daily spending, and a savings account holds money you do not touch. Some banks offer a high-yield savings account that earns more interest than a regular savings account, though the interest rate changes based on the Federal Reserve's decisions.
Fees to watch for and how to avoid them
Monthly maintenance fees range from $0 to $15 depending on the bank and account type. You can avoid them by keeping a minimum balance (often $500 to $1,500), setting up direct deposit, or using a bank that does not charge them. Online banks and credit unions often have no monthly fees.
Overdraft fees occur when you spend more than you have in your account. Most banks charge $25 to $35 per overdraft and may charge multiple fees in a single day if you make several transactions. You can avoid overdrafts by turning on overdraft protection (which transfers money from savings to cover the shortfall) or by opting out of overdraft coverage entirely (transactions will be declined instead of charging a fee).
ATM fees apply when you use an ATM that does not belong to your bank. Most banks charge $2 to $3 per out-of-network withdrawal. Use your bank's ATM network or choose a bank that reimburses out-of-network fees. Credit unions often share ATM networks, so you can use thousands of ATMs for free.
Foreign transaction fees apply if you use your debit card outside the United States. Most banks charge 1% to 3% of the transaction amount. If you travel internationally, ask your bank about their fees or switch to a bank that does not charge them.
What to do if your application is denied
Banks deny applications for a few reasons: a negative ChexSystems report, a history of fraud or unpaid overdrafts, or an address that does not verify. If you are denied, ask the bank why. They must tell you, and they must give you the name and contact information for ChexSystems so you can request a free copy of your report.
If ChexSystems has incorrect information, you can dispute it directly with them. Send a letter explaining what is wrong, include supporting documents, and they will investigate within 30 days. If they find the information is inaccurate, they will correct it and notify the bank.
If you are denied because of a closed account or unpaid fees, some banks offer second-chance checking accounts designed for people with banking problems. These accounts have higher fees and lower limits, but they let you rebuild your banking history. Credit unions are often more flexible than large banks and may open an account for you even if you have had problems before.
Frequently Asked Questions
Do I need a job or income to open a bank account?
No. Banks do not require proof of income or employment to open a checking or savings account. They ask for your ID, address, and Social Security number or ITIN. If you receive benefits, a pension, or irregular income, you can still open an account.
Can I open an account if I have bad credit?
Yes. Banks do not check your credit score when you open a checking or savings account. They check ChexSystems, which tracks banking history, not credit history. Bad credit does not stop you from opening an account, but a negative ChexSystems report might.
What if I do not have a permanent address?
Many banks accept a shelter address, a PO box, or a friend's or family member's address as proof of residence. Call the bank before you apply and ask what they accept. Some accept a recent government letter or mail from a social service agency if you do not have a utility bill or lease.
How long does it take to get my debit card?
Physical debit cards arrive in 7 to 10 business days. Most banks let you use a temporary card number or add your account to Apple Pay or Google Pay immediately so you can spend before the card arrives. Ask your bank if they offer this option when you open your account.
Can I open an account with someone else's ID?
No. The account must be in your name and you must provide your own ID. If you want someone else to have access to your money, you can add them as an authorized user or joint account holder after the account is open, but you must be present and provide your own identification first.