What You'll Hand Over at the Bank

To open a savings account, you need a government-issued photo ID, proof of your current address, and your Social Security number or tax ID. Most banks also ask for an initial deposit, which ranges from zero dollars at some online banks to $25 or $100 at others. Bring these items in person, by mail, or upload them online depending on the bank's process.

The specific documents vary slightly by bank and by state, but the core list stays the same. A driver's license or passport works for ID. A recent utility bill, lease, or mortgage statement works for address proof. If you don't have a Social Security number, you can use an Individual Taxpayer Identification Number (ITIN) instead, though fewer banks accept it—call ahead to confirm.

Some banks also ask about your employment or income, but this is usually optional information on the application form, not a requirement to open the account. If you're opening an account for a minor, you'll need to bring the child's birth certificate and your own ID as the parent or guardian.

Key Takeaways

  • You need a government photo ID, proof of your address, and your Social Security number or ITIN to open most savings accounts.
  • Many banks require an initial deposit to open, but some online banks allow you to start with zero dollars.
  • Proof of address can be a utility bill, lease, or mortgage statement dated within the last 60 to 90 days.
  • If you're opening an account for a child, bring the child's birth certificate and your ID as the parent or guardian.
  • Online banks often have faster approval and lower minimum deposits than brick-and-mortar branches.

Proof of Address: What Documents Work

Banks need to confirm where you live. A utility bill in your name—electric, gas, water, or internet—is the fastest proof. It should be dated within the last 60 to 90 days. If you don't have a utility bill, a lease agreement, mortgage statement, property tax bill, or bank statement showing your address will work instead.

Some banks also accept a government document with your address on it, such as a state ID card, voter registration card, or professional license. If you're homeless or living with someone else, call the bank directly and ask what they can accept. Many have workarounds, such as a letter from a shelter or a statement from the person whose address you're using.

If you're opening an account online, you'll upload a photo or scan of the document. If you're opening in person, bring the original or a copy. The bank will tell you which they prefer when you start the process.

Initial Deposit Requirements Vary Widely

Some banks require you to deposit money to open the account; others don't. Online banks like Ally, Marcus, and Discover often have zero minimum deposit. Traditional banks like Chase, Bank of America, and Wells Fargo typically ask for $25 to $100 to start. Credit unions vary—some ask for $5 to $25, others ask for nothing.

The initial deposit is not a fee; it's money that goes into your account and belongs to you. You can withdraw it immediately after opening if you want, though some banks ask you to keep a small balance to avoid monthly fees. Read the account terms before you open to know what the minimum balance requirement is, if any.

If you don't have cash to deposit right now, an online bank with no minimum is a good option. You can fund the account later by transferring money from another bank account or by setting up direct deposit from your employer.

How to Prove Your Identity Without a Driver's License

A driver's license is the easiest ID to use, but it's not the only one. A passport, state ID card, military ID, or tribal ID all work. Some banks also accept a foreign passport with a U.S. visa. The ID must have your photo, your name, and an expiration date that hasn't passed.

If you don't have any of these, call the bank and ask what else they can accept. Some banks will take a combination of documents—for example, a Social Security card plus a birth certificate plus a utility bill. Others have a process for people without traditional ID, though it may take longer.

If you're opening an account online and don't have a photo ID, you may need to open in person at a branch instead. Not all online banks can verify your identity without a photo ID through their digital process.

Opening an Account for Someone Else

If you're opening an account for a child, bring the child's birth certificate and your own ID as the parent or legal guardian. Some banks require both parents to be present or to sign consent forms. Call ahead to ask what your bank needs.

If you're opening an account as a power of attorney for an adult—because they're elderly, disabled, or otherwise unable to manage their own finances—bring the power of attorney document itself, your ID, and the account holder's ID. The bank will make a copy of the power of attorney and keep it on file.

If you're opening a joint account with another adult, both people usually need to be present in person, or both need to sign documents if opening online. Each person brings their own ID and proof of address.

What Happens After You Submit Your Documents

At a branch, the process usually takes 15 to 30 minutes. The bank verifies your ID and address, runs a background check through ChexSystems (a banking history database), and opens the account on the spot. You'll get a debit card and online login information before you leave.

Online, the process can be faster—sometimes just a few minutes—or it can take a few days if the bank needs to verify your identity by mail or phone. You'll receive an email confirmation and can usually start using your account within 24 hours, though transfers may take longer to clear.

The bank will also run a soft credit check or review your banking history to decide whether to approve you. Most people are approved immediately. If the bank declines, they'll tell you why—usually because of a history of overdrafts or fraud at another bank—and you can ask what you need to do to open an account elsewhere.

Documents You Don't Need (But Banks Sometimes Ask For)

Banks sometimes ask for your employment information, income, or tax returns. These are optional unless you're opening a high-yield savings account or a money market account, which may have income requirements. You can leave these fields blank on the application form.

You don't need a credit card, a mortgage, or a checking account to open a savings account. You don't need to bring pay stubs or bank statements unless the bank specifically asks. If a bank insists on information you don't have or don't want to share, you can open an account at a different bank instead.

Some banks ask for a phone number and email address. These are useful for account alerts and password recovery, but you can update them later if you want to use different contact information.

Frequently Asked Questions

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

Yes, if you have an ITIN (Individual Taxpayer Identification Number). Not all banks accept ITINs, so call ahead to confirm. Some credit unions and community banks are more likely to work with you than large national banks.

What if my address on my ID doesn't match my current address?

Bring a separate proof of your current address, such as a utility bill or lease. The bank will use the ID for identity verification and the utility bill for address verification. You can update your ID at the DMV later if you want.

Do I need to bring original documents or can I bring copies?

At a branch, bring originals so the bank can verify them. Online, you'll upload photos or scans. The bank will tell you which format they need when you start the process. Some banks ask for certified copies by mail if opening online without a photo ID.

What if I don't have any proof of address?

Call the bank and explain your situation. Many have alternatives for people who are homeless, recently moved, or living with family. Some accept letters from shelters, employers, or social services agencies. Others may require an in-person visit with additional ID.

How long does it take to open a savings account?

In person at a branch, 15 to 30 minutes. Online, anywhere from a few minutes to a few days depending on how the bank verifies your identity. You can usually start using the account within 24 hours of approval.