Yes, you can open a Bank of America savings account entirely online

Bank of America lets you open a savings account from your computer or phone without visiting a branch. The process takes about 10 minutes and requires a valid government ID, Social Security number, and an initial deposit method. You'll have a working account the same day in most cases, though some account features may take a few business days to activate.

The online path is faster than walking into a branch, and you can do it at any hour. The tradeoff is that you'll need to verify your identity through their system, which means having a photo ID and knowing your Social Security number before you start.

Key Takeaways

  • You can complete the entire signup process on Bank of America's website or mobile app without speaking to anyone.
  • You need a valid government-issued photo ID, your Social Security number, and a way to fund the account (debit card, another bank account, or wire transfer).
  • The account opens the same day, but you may not be able to use all features until Bank of America completes identity verification, which usually takes one to three business days.
  • If you already have a Bank of America checking account, opening a linked savings account is faster because they already have your information on file.

What you need before you start

Gather these items before opening your browser: a valid government photo ID (driver's license, passport, or state ID card), your Social Security number, and your date of birth. Bank of America uses this information to verify who you are and check against fraud databases.

You'll also need a way to fund the account. You can use a debit card, transfer money from another bank account via ACH, or arrange a wire transfer. The minimum opening deposit varies by account type—check Bank of America's current requirements on their website, as these change periodically. Some savings accounts have no minimum; others require $25 or more.

If you're under 18, you'll need a parent or guardian to open the account with you, and they'll need to provide their own ID and Social Security number.

The step-by-step process

Go to bankofamerica.com and click the link to open a new account, or use the Bank of America mobile app. Select "Savings Account" from the account type options. Bank of America will ask you to choose whether you want to open an account online only or link it to an existing Bank of America account if you have one.

Enter your personal information: full name, date of birth, Social Security number, address, phone number, and email. Bank of America will run a soft credit check and verify your identity using the information you provide. This usually takes a few minutes.

Next, choose your initial deposit method. If you're using a debit card, enter the card number and expiration date. If you're transferring from another bank, provide the routing number and account number. Bank of America may send small test deposits to confirm the account is real—watch for these and verify the amounts if asked.

Review the account terms, set up online banking login credentials if you don't have them, and confirm your email address. You'll receive a confirmation email within minutes. Your account number appears in that email and in your online banking dashboard.

What happens after you submit

Your savings account is live the same day you open it. You can log in to your online banking account and see the account number, routing number, and current balance immediately. However, Bank of America may place a temporary hold on certain features while they complete identity verification, which typically takes one to three business days.

During this verification period, you can deposit money and view your balance, but you may not be able to transfer funds out, set up bill pay, or link the account to external services. Once verification is complete, all features unlock automatically—you don't need to do anything.

If Bank of America cannot verify your identity automatically, they may call or email you to confirm information or ask you to upload a photo of your ID. Respond to these requests promptly, as they can delay account activation.

Faster signup if you already bank with Bank of America

If you have an existing Bank of America checking account, opening a linked savings account is quicker. Log into your online banking account, go to the accounts section, and select "Open a New Account." Bank of America already has your identity information on file, so the process skips the verification step and takes about five minutes.

Your new savings account will be fully active immediately, with no waiting period. You can transfer money between the checking and savings accounts right away using online banking or the mobile app.

Common reasons the process stalls

The most frequent delay is a mismatch between the name or address you enter and what appears in Bank of America's verification system. If you've recently moved, changed your name, or have a common name that matches fraud patterns, verification may take longer. Bank of America will contact you if they need clarification.

Another common issue is providing a debit card from a bank that doesn't allow third-party verification. Some smaller banks and credit unions block this type of transaction. If your debit card is declined, use an ACH transfer from your bank account instead, or visit a Bank of America branch with cash or a check.

If you're opening the account from outside the United States, Bank of America may not allow online signup. Call their customer service line or visit a branch to explore alternatives.

What to do if online signup doesn't work

If you can't complete the process online—whether because of a technical error, identity verification failure, or account type restriction—you can open a savings account in person at any Bank of America branch. Bring your photo ID, Social Security number, and a way to fund the account. A banker can open the account while you wait, usually in 15 to 20 minutes.

You can also call Bank of America's customer service line to open an account over the phone, though this is slower than online or in-branch. A representative will walk you through the same questions and verify your identity verbally.

Frequently Asked Questions

How long does it take to open a Bank of America savings account online?

The signup process itself takes about 10 minutes. Your account is active the same day, but full feature access may take one to three business days while Bank of America completes identity verification. If you already have a Bank of America account, the entire process takes about five minutes and features are available immediately.

Do I need an existing Bank of America account to open a savings account online?

No. You can open a savings account as a standalone account without any other Bank of America products. However, if you do have an existing checking account with them, linking a new savings account is faster because they already have your information verified.

What if my debit card is declined during the funding step?

Try using an ACH transfer from your bank account instead by providing your routing and account numbers. If that doesn't work, visit a Bank of America branch with cash or a check, or call their customer service line to complete the account opening over the phone.

Can I open a Bank of America savings account online if I don't have a Social Security number?

Bank of America requires a Social Security number or Individual Taxpayer Identification Number (ITIN) for all accounts. If you don't have one, you'll need to visit a branch in person and bring additional documentation. Call Bank of America beforehand to confirm what documents they'll need.

Will opening an account online affect my credit score?

Bank of America performs a soft credit check during signup, which does not affect your credit score. A soft check is an inquiry that only you can see on your credit report and does not lower your score the way a hard inquiry does.