The documents and information banks require
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). Most banks will ask for all three before they open the account. Some banks also ask for a second form of ID or proof of address if your ID is expired or doesn't show where you live.
Proof of address typically means a utility bill, lease, mortgage statement, or government mail dated within the last 60 days. A few banks accept a bank statement from another institution. If you don't have a current utility bill or lease, ask the bank what documents they will take—policies vary by institution.
You'll also need to decide what type of account you want: checking, savings, or both. Most people start with a checking account for everyday spending and bill payments, and a savings account for money they want to set aside. Some banks bundle these together; others charge separate monthly fees for each.
Key Takeaways
- Bring a government photo ID, proof of your address from the last 60 days, and your Social Security number or ITIN—these three items are what nearly every bank requires.
- Proof of address can be a utility bill, lease, mortgage statement, or government mail; call ahead if you don't have one of these to ask what the bank will accept.
- You can open an account in person at a branch, online through the bank's website, or by phone, and the process usually takes 10 to 20 minutes.
- Banks may check ChexSystems (a banking history database) or run a soft credit check, but these do not affect your credit score and are not the same as a loan application.
- Some banks charge monthly maintenance fees; others waive them if you keep a minimum balance or set up direct deposit.
Opening an account in person versus online
Opening in person at a branch takes about 15 to 20 minutes. You bring your documents, a banker reviews them, you sign paperwork, and the account is usually active the same day or the next business day. This route works well if you want to ask questions or if you're uncomfortable with online forms.
Opening online is faster—many banks let you finish in 10 minutes—but you'll need to upload photos of your ID and proof of address using your phone or computer. The bank reviews these documents and sends you a confirmation email. Online accounts are often active within 24 hours, though some banks take up to three business days. You can usually start using the account (transferring money in, setting up direct deposit) before your debit card arrives in the mail.
A few banks offer phone-based account opening, where you call a representative who walks you through the process and may mail you documents to sign. This is less common than in-person or online, but some banks use it for customers who can't visit a branch.
What banks check before they open your account
Most banks run a check through ChexSystems, a database that tracks banking history—specifically, closed accounts, unpaid fees, and fraud reports. A ChexSystems check does not affect your credit score. If you've had problems with a bank in the past (bounced checks, unpaid overdraft fees, or a closed account due to fraud), the new bank will see that history.
Some banks also run a soft credit check, which is a quick look at your credit report that doesn't lower your credit score. This is different from the hard credit check a lender runs when you apply for a loan or credit card. A soft check tells the bank whether you're a new customer to the banking system or whether you've had accounts elsewhere.
If ChexSystems shows a problem, the bank may still open your account—policies vary widely. Some banks deny accounts based on ChexSystems history; others accept anyone. If you're denied, ask the bank why and whether you can dispute the information in ChexSystems. You have the right to see your ChexSystems report for free by visiting chexsystems.com or calling 1-800-428-9623.
Minimum balance requirements and monthly fees
Many banks charge a monthly maintenance fee (typically $5 to $15) unless you meet one of these conditions: keep a minimum balance in the account, set up direct deposit, or maintain a certain number of debit card transactions per month. The minimum balance varies—some banks require $500, others $1,500 or more. Read the fee schedule before you open the account so you know what you're agreeing to.
Some banks, particularly online-only banks and credit unions, charge no monthly fee at all. If you're opening your first account or have a small balance, a no-fee account may be a better fit than one with a high minimum balance requirement.
Overdraft fees are separate from monthly maintenance fees. If you spend more money than you have in the account, the bank may cover the transaction and charge you an overdraft fee (usually $25 to $35 per overdraft). Some banks let you opt out of overdraft coverage, which means transactions will be declined instead of charged a fee. Ask about this option when you open the account.
What happens if you don't have an ID or proof of address
If you don't have a government-issued photo ID, some banks will accept a passport, state ID, or tribal ID. If you have none of these, opening a bank account becomes much harder—most mainstream banks will not open an account without a photo ID. Credit unions sometimes have more flexibility; call ahead to ask whether they'll accept an alternative form of identification.
If you don't have proof of address, ask the bank what documents they will accept. Some banks take a cell phone bill, insurance statement, or letter from a government agency. If you're homeless or living with someone else, some banks will accept a shelter letter or a statement from the person whose name is on the utility bill, confirming that you live there. Call the bank before you visit so you know what to bring.
If you don't have a Social Security number, you can use an ITIN (Individual Taxpayer Identification Number), which the IRS issues to people who are not may be able to access for a Social Security number but need to file taxes or open a bank account. You can apply for an ITIN through the IRS website or at a local IRS office.
How long it takes to use your new account
Once your account is open, you can usually start using it immediately for transfers and bill payments through the bank's website or app. However, your debit card typically arrives in the mail within 7 to 10 business days. If you need a card sooner, some banks offer rush delivery for a fee, or you can ask for a temporary card number to use online while you wait.
If you're setting up direct deposit (for paychecks or government benefits), the bank will give you routing and account numbers on the day you open the account. You can provide these to your employer or benefits administrator right away. The first direct deposit usually takes one to two pay periods to process, depending on when your employer or the government processes payments.
Transfers from another bank take one to three business days, depending on whether you're using ACH (the standard electronic transfer system) or a faster service like wire transfer. ACH is free; wire transfers usually cost $15 to $30.
Frequently Asked Questions
Can I open a bank account if I've been denied before?
Yes. If you were denied because of ChexSystems history, you can open an account at a different bank—not all banks use ChexSystems, and those that do have different policies about what history disqualifies you. Credit unions are often more flexible than large banks. You can also dispute incorrect information in ChexSystems by contacting them directly.
Do I need a minimum deposit to open an account?
Most banks do not require a minimum deposit to open an account—you can open with $0 and deposit money later. However, some banks and credit unions do require an opening deposit, usually $25 to $100. Ask before you visit or apply online.
What if I don't have a current address or I'm moving soon?
Use your current address when you open the account, even if you're moving soon. Once the account is open, you can update your address online or by calling the bank. You don't need to close the account and open a new one.
Can someone else open an account on my behalf?
No. Banks require the account holder to be present (in person or online) to verify their identity and sign the account agreement. A parent or guardian can open a joint account with a minor, but the minor's identity must still be verified.
What's the difference between a checking and savings account?
A checking account is for frequent transactions—paying bills, getting cash, making purchases with a debit card. A savings account earns interest (a small percentage return on your balance) and is meant for money you're not spending regularly. Many people have both at the same bank.