What you need to open a Bank of America account
You can open a Bank of America account online, by phone, or in person at a branch. The fastest route is online, which takes about 10 minutes. You will need a valid government-issued ID (driver's license, passport, or state ID), your Social Security number, and an initial deposit — usually $25 for a checking account, though some account types require more.
Bank of America offers several account types: Basic Checking, Advantage Checking, and Advantage Plus Checking, each with different monthly fees and minimum balance requirements. There are also savings accounts and money market accounts. The account you choose depends on how often you plan to use it and whether you want to avoid monthly fees.
If you already have a Bank of America account, you can open an additional account online without leaving home. If you are opening your first account, you can start online and finish in a branch, or complete the entire process online if you have a debit card from another bank to verify your identity.
Key Takeaways
- You need a government-issued ID, Social Security number, and an initial deposit to open an account, with the online process taking about 10 minutes.
- Bank of America offers multiple checking and savings account types with different fee structures and minimum balance requirements.
- Online account opening is the fastest option and works on its own if you have another bank's debit card for identity verification.
- Monthly maintenance fees can be waived by setting up direct deposit, maintaining a minimum balance, or meeting other account-specific requirements.
Opening an account online
Go to bankofamerica.com and click "Open an Account." You will choose your account type first — most people start with Basic Checking or Advantage Checking. The form asks for your name, address, date of birth, Social Security number, phone number, and email address.
Next, you verify your identity. If you have a debit card from another bank, Bank of America can verify you instantly using that card's details. If you do not have another debit card, you can complete the online application and finish the account opening in a branch within 30 days. Either way, you will set up a username and password for online banking before the account is complete.
The initial deposit can be made by transferring funds from another bank account (this takes one to three business days) or by mailing a check. Some people complete the deposit step after opening the account, though Bank of America may place a temporary hold on the account until the deposit clears.
Opening an account at a branch
Walk into any Bank of America branch with your ID, Social Security number, and the money for your initial deposit. A banker will walk you through the account application, which covers the same information as the online form. This process usually takes 15 to 20 minutes.
The advantage of opening in person is that you can ask questions about which account type fits your situation, and you can make your initial deposit immediately in cash or check. Your debit card is typically ordered during the appointment and arrives by mail within 7 to 10 business days, though you can use your account online and at ATMs right away.
Account types and their fees
Basic Checking has no monthly maintenance fee if you maintain a $500 minimum balance or set up direct deposit. If your balance falls below $500 and you do not have direct deposit, the fee is $12 per month. This account comes with a debit card, online banking, and access to Bank of America's ATM network.
Advantage Checking costs $15 per month but is waived if you maintain a $1,500 minimum balance, set up direct deposit, or have a linked Bank of America savings account with $500 or more. This account includes additional perks like higher ATM withdrawal limits and priority customer service.
Advantage Plus Checking costs $20 per month (fee waived with a $2,500 minimum balance or direct deposit) and is designed for people who need more features, such as higher transaction limits and premium support. Bank of America also offers savings accounts and money market accounts with their own fee structures and interest rates, which vary based on the current market.
What happens after you open your account
Once your account is open, you can log into online banking immediately and set up bill pay, transfers, and mobile banking through the Bank of America app. Your debit card arrives by mail within 7 to 10 business days. You can activate it by calling the number on the back of the card or through the app.
Bank of America assigns you a routing number and account number, which you will need to set up direct deposit with your employer or to receive transfers from other people. These numbers are visible in the online banking portal under account details.
If you opened your account online without another bank's debit card, you have 30 days to complete the account opening by visiting a branch in person. Bring your ID and the initial deposit if you have not already transferred funds. After 30 days, the account application expires and you will need to start over.
Avoiding monthly maintenance fees
The easiest way to avoid fees is to set up direct deposit. Bank of America waives the monthly maintenance fee on Basic Checking, Advantage Checking, and Advantage Plus Checking if your paycheck or government benefits are deposited directly into the account. You do not need a large deposit — even $1 per pay period counts.
If direct deposit is not an option, you can avoid fees by maintaining the minimum balance for your account type. For Basic Checking, that is $500. For Advantage Checking, it is $1,500. For Advantage Plus Checking, it is $2,500. The balance is calculated daily, so dipping below the minimum for even one day can trigger the fee.
A third option is to link a Bank of America savings account with at least $500 in it to your checking account. This waives the fee on Advantage Checking. Some people use this strategy if they are building an emergency fund and want to avoid checking account fees at the same time.
If you need help during the process
Bank of America offers phone support at 1-800-432-1000 for account opening questions. You can also visit a branch and speak with a banker in person. If you are opening an account online and get stuck, the website has a chat feature that connects you to a representative.
If you have questions about which account type to choose, a banker can review your banking habits and recommend the account that will cost you the least in fees. This conversation is free and takes about 10 minutes.
Frequently Asked Questions
Can I open a Bank of America account if I do not have a Social Security number?
No. Bank of America requires a Social Security number or Individual Taxpayer Identification Number (ITIN) to open an account. This is a federal requirement for all banks. If you have an ITIN, you can use that instead of a Social Security number.
How long does it take to get my debit card?
Your debit card is ordered during account opening and typically arrives within 7 to 10 business days by mail. You can use your account online and at Bank of America ATMs immediately, even before the card arrives. If you need a card faster, ask a banker about expedited card options when you open your account in person.
What if I do not have an initial deposit right now?
You can open the account online and transfer funds later, as long as you complete the deposit within 30 days. Some people open the account and then have their first paycheck deposited directly into it. Bank of America may place a temporary hold on the account until the initial deposit clears.
Can I open an account if I have been denied by another bank?
Bank of America uses ChexSystems, a banking history report, to review new account applications. If you were denied by another bank, it may show up in your ChexSystems report. You can still open an account, but Bank of America may ask about the previous denial. Being honest about what happened improves your chances.
Do I need to go to a branch if I open my account online?
Not necessarily. If you have another bank's debit card to verify your identity, you can complete the entire process online. If you do not have another debit card, you must visit a branch within 30 days to finish the account opening and make your initial deposit.