What You Need to Open an Account at Security Bank
Security Bank requires a government-issued photo ID, your Social Security number, and an initial deposit to open a savings account. The minimum opening deposit varies by account type—some accounts start at $25, while others may require $100 or more. You will also need a current mailing address.
If you are opening an account online, you can complete the process from home using your computer or phone. If you go to a branch in person, bring your ID and the cash or check for your opening deposit. Security Bank has branches in multiple states, so check their website to find a location near you.
You do not need to have an existing relationship with Security Bank or any other bank to open an account. First-time bank customers are welcome, and the process is the same whether this is your first account or your fifth.
Key Takeaways
- You will need a government-issued photo ID, your Social Security number, and an opening deposit amount that depends on which savings account type you choose.
- Security Bank offers both online and in-person account opening, so you can choose the method that works for your schedule.
- The opening deposit minimum varies by account—check Security Bank's website or call a branch to confirm the exact amount for the account you want.
- Once your account is open, you can deposit money by mail, at an ATM, through direct deposit, or at a branch location.
Opening an Account Online
Online account opening at Security Bank typically takes 10 to 15 minutes and can be done on a computer or mobile device. Go to Security Bank's website and look for the "Open an Account" or "New Customer" section. You will enter your personal information, including your name, date of birth, address, and Social Security number.
The system will ask you to verify your identity, usually by answering security questions based on your credit history or by uploading a photo of your ID. Once verification is complete, you will choose your account type and set up online banking access with a username and password.
After you submit the application, Security Bank will review it and contact you if they need additional information. Most online accounts are approved within one business day. You will then need to make your opening deposit—you can do this by transferring money from another bank account, mailing a check, or visiting a branch with cash.
Opening an Account in Person at a Branch
Visit any Security Bank branch during business hours with your photo ID, Social Security number, and opening deposit. A bank representative will walk you through a short application form that asks for your personal information, employment details, and how you plan to use the account.
The representative will explain the account features, fees, and interest rates, then set up your online banking login on the spot. You can make your opening deposit by cash or check during this visit. The account is usually active immediately, and you can start using it right away.
In-person opening is faster if you want to deposit cash and start using your account the same day. It is also a good choice if you have questions about which account type fits your needs, since a representative can answer them face-to-face.
Choosing the Right Savings Account Type
Security Bank offers several savings account options, and the one you choose affects your opening deposit minimum and interest rate. A basic savings account typically has a lower opening deposit and simpler features. A high-yield savings account usually requires a higher opening deposit but pays more interest on your balance.
Money market accounts combine features of savings and checking accounts and may offer higher interest rates if you maintain a larger balance. Before you open an account, compare the opening deposit, monthly fees, interest rate, and withdrawal limits for each type on Security Bank's website.
If you are not sure which account is right for you, call a Security Bank branch or use their online chat to ask questions. A representative can help you understand the differences and recommend an account based on how much money you plan to keep in savings and how often you plan to withdraw.
What Happens After Your Account Opens
Once your account is open, you will receive a debit card in the mail within 7 to 10 business days if you opened a checking account, though savings accounts typically do not include a debit card. You will also receive account statements by mail or email, depending on your preference. Your online banking login is active immediately, so you can check your balance and transfer money right away.
Security Bank may place a hold on your opening deposit if you paid by check—this usually lasts 5 to 10 business days while the check clears. If you deposited cash or transferred money from another bank account, the funds are typically available immediately or within one business day.
Set up direct deposit if you receive a paycheck or government payment. This is the fastest way to get money into your account, and many employers and government agencies can set it up in minutes. You will need to provide Security Bank's routing number and your account number, both of which appear on your account paperwork or online banking dashboard.
Fees and Minimum Balance Requirements
Security Bank charges a monthly maintenance fee on most savings accounts, though the amount varies by account type. Some accounts waive the fee if you maintain a minimum balance—commonly $500 to $1,000—or if you set up direct deposit. Check your account paperwork or online banking portal to see which fees apply to your specific account.
Savings accounts also have withdrawal limits. Federal law allows you to make up to six withdrawals or transfers per month from a savings account before fees apply. If you exceed this limit, Security Bank will charge a fee per extra withdrawal. Transfers made through online banking, ATMs, or automatic bill pay count toward this limit.
Overdraft fees apply if you try to withdraw more money than you have in your account. Security Bank may decline the transaction, or they may allow it and charge you a fee. Review your account agreement to understand how overdrafts are handled on your specific account.
If You Cannot Open an Account Right Now
Some people cannot open a bank account because they have a negative banking history—for example, unpaid overdraft fees or a closed account due to fraud. If this applies to you, Security Bank may decline your application. In this case, you can try a second-chance banking program, which some banks and credit unions offer to people with banking problems in their past.
If you do not have a government-issued photo ID, you may be able to open an account using an alternative form of identification, such as a passport, tribal ID, or state ID card. Call Security Bank to ask what documents they will accept.
If you do not have a Social Security number, you can open an account using an Individual Taxpayer Identification Number (ITIN) instead. This is available to non-citizens who file taxes. Contact Security Bank directly to confirm they offer this option and what documents you will need to bring.
Frequently Asked Questions
How long does it take to open a Security Bank savings account?
Online accounts usually take 10 to 15 minutes to complete, with approval within one business day. In-person accounts are approved on the spot. The time to receive your debit card or account materials by mail is 7 to 10 business days.
What is the minimum opening deposit at Security Bank?
The minimum opening deposit varies by account type, ranging from $25 to $100 or more. Check Security Bank's website or call a branch to confirm the exact amount for the account you want to open.
Can I open an account if I have had banking problems before?
Security Bank may decline your application if you have unpaid overdraft fees or a closed account on record. If this happens, ask about second-chance banking programs or contact Security Bank to discuss your options.
Do I need to visit a branch in person, or can I open an account entirely online?
You can open an account entirely online if you have a government-issued photo ID and can verify your identity through the online process. You will still need to make your opening deposit, which you can do by transfer, mail, or in-person visit.
What should I do if my account application is denied?
Call Security Bank to ask why your application was denied. Common reasons include negative banking history, identity verification issues, or an incorrect Social Security number. Ask what you can do to reapply or what alternative options are available.