What you need to open a bank account
To open a bank account at most US banks, you need a government-issued photo ID, a Social Security number or Individual Taxpayer Identification Number (ITIN), and proof of your current address. The ID can be a driver's license, passport, or state ID card. The address proof is usually a recent utility bill, lease, or bank statement—something dated within the last 60 days showing your name and where you live.
Some banks also run a check through ChexSystems, a banking history database that tracks closed accounts and fraud. If you've had problems at another bank, this check may flag you, though it doesn't automatically disqualify you. A few banks specialize in second-chance accounts for people with ChexSystems records.
If you don't have a Social Security number, an ITIN (issued by the IRS to non-citizens for tax purposes) works at most banks. Some banks will also open accounts for people without either, though these accounts come with limits on deposits and transfers.
Key Takeaways
- You will need a photo ID, Social Security number or ITIN, and proof of your current address dated within the last 60 days.
- Banks check ChexSystems to see your banking history, and a record of fraud or unpaid fees can block you at some institutions.
- You can open an account online, by phone, or in person at a branch, and the process usually takes 10 to 15 minutes.
- Some banks charge monthly fees; others waive them if you keep a minimum balance or set up direct deposit.
- If you are denied at one bank, a credit union or second-chance bank account may accept you even with a ChexSystems record.
Opening an account online, by phone, or in person
Most large banks let you start the account online without visiting a branch. You'll enter your personal information, upload photos of your ID and address proof, and answer security questions. The bank verifies your identity through a third-party service and usually approves you within minutes to a few hours. You can then set up direct deposit or transfer money in right away.
Opening by phone works the same way: a bank representative walks you through the questions, you provide your documents over a secure line or by uploading them to a portal, and they verify you on the spot. This takes about 15 minutes.
In-person at a branch is the slowest but most straightforward route if you're uncomfortable with online verification. Bring your original ID and address proof, sit with a banker, and they'll complete the paperwork in front of you. You walk out with a debit card or can request one be mailed.
What happens after you open the account
Once approved, your account is active immediately, though you may not see a debit card for 7 to 10 business days. Some banks issue a temporary digital card you can use right away for online purchases and contactless payments through your phone.
Your first deposit sets the account in motion. You can transfer money from another bank account, deposit a check by photo through the bank's app, or visit an ATM to deposit cash. Direct deposit from an employer or government benefit takes one to two business days to show up.
The bank will send you a welcome packet with your account number, routing number, and information about fees and features. Read the fee schedule carefully—some accounts charge monthly maintenance fees ($5 to $15), overdraft fees ($25 to $35 per transaction), or ATM fees if you use machines outside the bank's network.
Monthly fees and how to avoid them
Most banks waive their monthly fee if you meet one of these conditions: keep a minimum balance (often $500 to $1,500), set up direct deposit of at least $500 per month, or maintain a certain number of debit card transactions each month. Some banks waive fees for customers under 25 or over 65.
Online banks and credit unions typically charge no monthly fee at all. If you're comparing accounts, look at the fee schedule first—a $10 monthly fee costs $120 a year, which adds up fast on a small balance.
Overdraft fees are separate from monthly fees. If you spend more than you have, the bank can charge $25 to $35 per transaction that goes negative. Many banks now let you turn off overdraft protection so transactions simply decline instead of charging a fee.
If you're denied or have a ChexSystems record
If a bank denies you, ask why. If it's because of ChexSystems, you have the right to see your report for free at www.chexsystems.com. You can dispute errors on that report, and ChexSystems must investigate within 30 days.
A ChexSystems record doesn't last forever. Most negative items fall off after five years. Even with an active record, you have options: credit unions often have looser ChexSystems policies, and some banks explicitly market second-chance accounts to people with banking history problems. LendingClub, Chime, and GoBank are examples, though terms vary.
If you were denied because you don't have a Social Security number or ITIN, ask the bank whether they accept an ITIN or offer an account for non-citizens. Some do; others don't. A credit union in your area may be more flexible.
Choosing between a bank, credit union, or online bank
A traditional bank has physical branches and ATMs, which is useful if you deposit cash often or need in-person help. Monthly fees are common, but so are perks like free checks and relationship discounts.
A credit union is a member-owned nonprofit that often charges lower fees and offers better rates on savings. You must be a member to open an account, which usually means living or working in a certain area or belonging to a specific group (teachers, military, employees of a company). Credit unions are also more likely to work with people who have ChexSystems records.
An online bank has no branches but typically charges no monthly fees, pays higher interest on savings, and lets you do everything by phone or app. The tradeoff is that you can't deposit cash at a branch—you deposit by check photo or transfer from another account. Online banks are good if you rarely use cash and want to avoid fees.
Documents to bring or upload
| Document | What it proves | Examples |
|---|---|---|
| Photo ID | Your identity | Driver's license, passport, state ID card |
| Address proof | Where you live | Utility bill, lease, bank statement, government mail (dated within 60 days) |
| Social Security card or ITIN letter | Your tax ID | Original card or IRS letter (some banks accept a photo) |
Frequently Asked Questions
Can I open a bank account without a Social Security number?
Yes, if you have an ITIN issued by the IRS. Some banks also open accounts for people without either, though these accounts may have deposit limits or restrictions on transfers. Call ahead to confirm the bank's policy before you visit.
How long does it take to open an account?
Online or by phone, 10 to 15 minutes if your identity verifies immediately. In person at a branch, 15 to 30 minutes. Approval is usually instant, but your debit card arrives by mail in 7 to 10 business days. Some banks issue a temporary digital card you can use right away.
What if I have a ChexSystems record from a closed account?
You can view your ChexSystems report free at www.chexsystems.com and dispute any errors. Even with a record, credit unions and second-chance banks will often work with you. The record typically falls off after five years.
Do I need a minimum deposit to open an account?
Most banks don't require an opening deposit—you can open the account with $0 and deposit money later. Some banks offer incentives (like $50 to $200) if you deposit a certain amount within 30 days, but it's not required to open.
What's the difference between a checking and savings account?
A checking account is for everyday spending—it comes with a debit card and checks. A savings account earns interest on your balance but limits how many withdrawals you can make per month. Many people open both: checking for bills and purchases, savings for money they want to keep.