What you need to bring and where to go

Opening a first bank account takes one visit to a bank or credit union branch, or about 15 minutes online if you choose a digital bank. You will need a government-issued photo ID (driver's license, passport, or state ID card), proof of your current address (a utility bill, lease, or recent mail from a government agency), and your Social Security number or Individual Taxpayer Identification Number. Some banks also ask for a second form of ID or a phone number where they can reach you.

You can walk into any branch of a bank or credit union in your area, or you can open an account entirely online through a bank's website or mobile app. If you go in person, bring your documents and be ready to choose between checking, savings, or both. If you open online, you will upload photos of your ID and proof of address, then verify your identity through a video call or by answering security questions based on your credit history.

The entire process—from walking in the door to receiving your debit card—usually takes one to two weeks. Your account number and routing number are available immediately, so you can start receiving direct deposits or making transfers right away, even if your physical card has not arrived yet.

Key Takeaways

  • You need a government photo ID, proof of your address, and your Social Security number; most banks ask for all three before opening an account.
  • You can open an account in person at a branch or entirely online through a bank's website, and both routes take roughly the same amount of time.
  • Your account is active immediately, so you can receive deposits and make transfers before your debit card arrives in the mail.
  • Banks and credit unions have different fee structures—some charge monthly maintenance fees, overdraft fees, or minimum balance requirements, so compare before you choose.
  • If you have had banking problems in the past, you may need to use a second-chance bank account, which has higher fees but fewer barriers to opening.

Choosing between a bank, credit union, or online-only account

Banks are for-profit institutions with many branches and ATMs. Credit unions are member-owned nonprofits, usually smaller, with lower fees and better rates on savings and loans—but you have to meet membership requirements (working for a certain employer, living in a certain area, or belonging to a certain group). Online-only banks have no physical branches but offer lower fees and higher interest rates on savings because they have fewer overhead costs.

If you need to deposit cash or talk to someone in person regularly, a traditional bank or credit union branch is the right choice. If you mostly transfer money electronically and rarely need cash, an online bank works well and often pays more interest on your savings. If you work for a large employer or belong to a union, military, or professional organization, check whether you are a member of a credit union—you may get better rates there than at a bank.

The trade-off is convenience versus cost. A bank with many branches near you is easy to use but may charge monthly fees. A credit union may have fewer locations but lower fees. An online bank has no locations but the lowest fees and highest savings rates—and you can deposit checks by taking a photo with your phone.

Understanding fees and minimum balances

Monthly maintenance fees range from zero to $15 per month, depending on the bank and the type of account. Some banks waive the fee if you keep a minimum balance (often $500 to $1,500), receive direct deposits, or use their debit card a certain number of times per month. Others charge the fee no matter what. Online banks and credit unions are more likely to have zero monthly fees.

Overdraft fees occur when you spend more money than you have in your account. A typical overdraft fee is $25 to $35 per transaction, and some banks charge multiple fees in a single day if you make several purchases while overdrawn. You can usually turn off overdraft protection so that transactions simply decline instead of charging you a fee—ask the bank about this when you open your account.

ATM fees apply when you withdraw cash from an ATM that does not belong to your bank. Most banks let you use their own ATMs for free but charge $2 to $3 when you use another bank's machine. Credit unions often belong to shared networks (like Allpoint or CO-OP) that let members use thousands of ATMs nationwide for free. Online banks usually reimburse ATM fees or partner with networks to avoid them.

What happens during the identity verification process

If you open an account in person, the bank employee will check your ID against your face, write down your information, and run a background check through ChexSystems or Early Warning Services—databases that track banking history and fraud. This takes a few minutes. If you have never had a bank account before, you will pass this check automatically.

If you open online, the bank will ask you to take a photo of your ID and a selfie, then either schedule a video call with a representative or ask you security questions based on public records (like "What street did you live on in 2015?"). The video call usually takes five to ten minutes. The security questions take two to three minutes. Both methods verify that you are who you say you are.

After verification, the bank runs a ChexSystems check. If you have had problems with a previous bank—like bouncing checks, leaving an account overdrawn, or committing fraud—ChexSystems will flag it. Most banks will still open an account for you if the problem is old or minor, but some will decline. If you are declined, you can request your ChexSystems report for free and dispute any errors.

Second-chance accounts if you have been denied before

If a bank has declined you because of your ChexSystems history, you have two options: wait for the negative mark to age (usually two to five years), or open a second-chance account. Second-chance accounts are designed for people with banking problems in their past. They have higher fees (often $10 to $20 per month) and lower limits on debit card transactions, but they report your good behavior to ChexSystems, which helps you move to a regular account later.

Banks that offer second-chance accounts include Chime, LendingClub, GoBank, and some regional banks and credit unions. You can search for "second-chance bank account" plus your state to find options near you. The application process is the same as a regular account, but the bank will approve you even if ChexSystems shows past problems.

Once you have kept a second-chance account in good standing for six to twelve months, you can apply for a regular account at another bank. The positive history from your second-chance account will show on ChexSystems, and most banks will approve you. At that point, you can close the second-chance account and move to a bank with lower fees.

Setting up direct deposit and your first transactions

Direct deposit is when your employer or a government agency sends your paycheck straight to your bank account instead of issuing a paper check. To set it up, you need your account number and routing number (both printed on the bottom left of a check, or available in your online banking portal). Give these to your employer's payroll department, and the deposit will arrive on payday—usually one to two business days before you would receive a paper check.

Your first transaction might be a transfer from another account, a direct deposit, or a debit card purchase. Transfers between your own accounts at different banks take one to three business days. Transfers within the same bank are instant. Debit card purchases go through immediately, but the money does not leave your account until the merchant processes the transaction, which can take one to three days.

If you receive a paper check, you can deposit it by taking a photo through your bank's mobile app (called mobile check deposit) or by mailing it to the bank. Mobile deposit is faster—the check usually clears within one to two business days. Mailing takes five to seven business days.

Protecting your new account from fraud

The moment your account is open, set a strong password (at least 12 characters, mixing letters, numbers, and symbols) and turn on two-factor authentication if the bank offers it. Two-factor authentication means you need both your password and a code sent to your phone to log in, which stops someone from accessing your account even if they steal your password.

Do not share your account number, routing number, or PIN with anyone except your employer (for direct deposit) or a trusted person you are sending money to. Do not write your PIN on your debit card or store it in your phone. If your debit card is lost or stolen, call your bank immediately—you are not responsible for fraudulent charges if you report it within two business days, and most banks cover fraud even after that window.

Check your account regularly through your bank's app or website. Most banks let you set up alerts that notify you by text or email when a large transaction occurs, when your balance drops below a certain amount, or when someone tries to log in from a new device. These alerts catch fraud early.

Frequently Asked Questions

Can I open a bank account without a Social Security number?

Yes, if you have an Individual Taxpayer Identification Number (ITIN) issued by the IRS. Some banks accept an ITIN in place of a Social Security number. Call ahead to confirm, because not all banks do. If you cannot get an ITIN, some credit unions and community banks will open an account for you using only your passport and proof of address.

How long does it take to receive my debit card?

Most banks mail debit cards within five to seven business days of opening your account. Some banks offer rush delivery for an extra fee, or let you use a temporary digital card in your phone's wallet while you wait for the physical card. Check your bank's website or ask when you open the account.

What if I do not have proof of my current address?

If you do not have a utility bill or lease, you can use a bank statement from another bank, a government tax return, a voter registration card, or a recent letter from a government agency. Some banks accept a cell phone bill or insurance statement. Call the bank before you go in and ask what documents they accept.

Can I open an account for someone else, like a child?

No, you cannot open an account in someone else's name. However, you can open a custodial account for a minor child—you manage the account until they turn 18 or 21, depending on the bank. You will need the child's Social Security number and birth certificate, plus your own ID and proof of address. Most banks offer custodial accounts at no extra cost.

What should I do if my account is frozen or closed?

Banks freeze or close accounts if they suspect fraud, if you have unpaid overdraft fees, or if ChexSystems shows a serious problem like writing bad checks. Call your bank's customer service line immediately and ask why. If it is a mistake, they can reopen it. If it is because of unpaid fees or a ChexSystems issue, ask what you need to do to resolve it. You have the right to see your ChexSystems report and dispute errors.