What you need to open a bank account

To open a checking or savings account at a US bank, you will need a government-issued photo ID, proof of your current address, and your Social Security number or Individual Taxpayer Identification Number (ITIN). Most banks also ask for an initial deposit, though the amount varies—some require $25, others $100 or more, and some have no minimum at all.

Proof of address can be a recent utility bill, lease agreement, mortgage statement, or government mail with your name and address. The bank will verify your identity against their fraud database and check your banking history through ChexSystems, a system that tracks closed accounts and disputes. If you have been flagged in ChexSystems, some banks will still open an account for you, but others will decline.

If you do not have a Social Security number, an ITIN issued by the IRS works for most banks. If you have neither, some banks and credit unions will open accounts using a passport number or other identification, but this is less common and varies by institution.

Key Takeaways

  • You need a photo ID, proof of address, and a Social Security number or ITIN; most banks also require an opening deposit between $0 and $100.
  • Banks check ChexSystems, which records closed accounts and disputes—if you are flagged, some banks will decline you, but others will not.
  • You can open an account in person at a branch, online through the bank's website, or by phone; online accounts typically open within one business day.
  • After opening, you will receive a debit card, checks (if you request them), and online banking access; your account number and routing number arrive by mail or email.
  • If a bank declines you, a second-chance checking account or credit union account may accept you even with a ChexSystems flag.

Opening an account in person versus online

Opening in person at a branch takes 15 to 30 minutes. You bring your ID, proof of address, and initial deposit (cash or check), and a banker verifies your information on the spot. You leave with a temporary debit card or a card number to use immediately, and your permanent card arrives by mail within 5 to 10 business days. This route is useful if you want to ask questions or if you have an unusual situation—for example, if you do not have a permanent address or if your ID is from outside the US.

Opening online takes 10 to 15 minutes and your account is usually active within one business day. You upload photos of your ID and proof of address, enter your information, and make your opening deposit by linking an existing bank account or providing a debit card number. Your debit card ships separately and arrives within 5 to 10 business days, but you can use your account number to set up direct deposit or transfers immediately. Online opening is faster and works at any time, but you cannot ask questions in real time.

Opening by phone is less common but some banks and credit unions offer it. A representative walks you through the process, verifies your identity verbally, and you mail in your ID and proof of address afterward. This usually takes longer—up to two weeks—because the bank waits for your documents before fully activating the account.

What happens after you open the account

Once your account is open, the bank assigns you an account number and a routing number. The routing number is the same for all customers at that bank and identifies the bank itself in the payment system. Your account number identifies your specific account. You will need both to set up direct deposit, receive wire transfers, or pay bills by bank transfer.

Your debit card arrives by mail and can be used immediately once it arrives—you do not have to activate it, though some banks send activation instructions. Your checks, if you order them, arrive separately and take 7 to 14 business days. Online banking access is usually available the same day your account opens, so you can check your balance, transfer money, and pay bills before your physical card arrives.

The bank will send you a welcome packet by mail with your account number, routing number, and initial disclosures. Read the fee schedule carefully—most banks charge overdraft fees ($25 to $35 per transaction), monthly maintenance fees (often waived if you maintain a minimum balance or set up direct deposit), and fees for using out-of-network ATMs. Some banks charge fees for paper statements or for closing an account within a certain period.

If a bank declines you

If a bank declines your application, ask why. The most common reasons are a ChexSystems flag, unpaid overdraft fees from a previous account, or a history of fraud. You can request a free copy of your ChexSystems report from ChexSystems.com and dispute any errors on it.

If you are flagged, look for a second-chance checking account. These are designed for people with banking problems and usually come with higher fees, lower limits on debit card transactions, and no overdraft protection. Banks like Chime, LendingClub, and some regional banks offer them. Credit unions often have looser requirements than banks and may open an account for you even with a ChexSystems flag, especially if you are a member of the union or live in the area it serves.

Another option is a prepaid card or a secured savings account, though these are not bank accounts and do not build your banking history the way a checking account does. A prepaid card lets you load money and spend it like a debit card, but you do not earn interest and the card issuer is not a bank. A secured savings account requires you to deposit money that the bank holds as collateral, and you earn interest on it—this can help you rebuild trust with the banking system.

Choosing between checking and savings accounts

A checking account is designed for frequent transactions—paying bills, receiving paychecks, everyday spending. It comes with a debit card and checks, and most checking accounts have no limit on how many transactions you can make per month. Interest rates on checking are usually zero or very low.

A savings account is designed to hold money and earn interest. You can withdraw money, but some banks limit you to six withdrawals per month (though this rule is less common now). Savings accounts earn interest—the rate varies from nearly zero at large banks to 4% to 5% at online banks, depending on the current market and the bank's rates.

Many people open both: a checking account for bills and daily spending, and a savings account for emergency money or goals. Some banks offer a combined account or let you link multiple accounts so you can transfer money between them easily. If you are just starting out, a checking account is usually the priority because you need a way to receive paychecks and pay bills.

Banks versus credit unions

Banks are for-profit institutions regulated by the Federal Deposit Insurance Corporation (FDIC) or the Office of the Comptroller of the Currency (OCC). Credit unions are nonprofit institutions regulated by the National Credit Union Administration (NCUA). Both offer checking and savings accounts, and both accounts are insured up to $250,000 if the institution fails.

Banks are usually larger, have more branches and ATMs, and offer more products like loans and investment accounts. Credit unions are usually smaller, have lower fees, and may have looser lending standards. Credit unions also often offer better interest rates on savings accounts and lower rates on loans. The tradeoff is that credit unions have fewer branches and ATMs unless they are part of a shared branching network.

If you are choosing between a bank and a credit union, consider where you live and work—do you have access to branches or ATMs? Do you need a loan or other products? Credit unions are often better for people who want low fees and good rates; banks are better if you need convenience and a wide range of services.

What to watch out for

Read the fee schedule before you open an account. Some banks charge monthly maintenance fees ($5 to $15) that are waived if you maintain a minimum balance, set up direct deposit, or use online banking. Others charge per transaction—for example, $1 per debit card use or $3 per ATM withdrawal. These fees add up quickly if you are not paying attention.

Overdraft protection is a feature that covers transactions that exceed your balance, but it charges a fee ($25 to $35) each time. You can usually turn off overdraft protection so that transactions simply decline instead of charging you a fee. Do this if you want to avoid surprise fees.

Some banks hold deposits for several business days before making the money available, especially if you deposit a check. Ask the bank about their hold policy—most hold checks for one to five business days depending on the amount and the bank that issued the check. Direct deposits and transfers between accounts at the same bank are usually available the same day or next business day.

Frequently Asked Questions

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

Yes, if you have an ITIN issued by the IRS. Some banks and credit unions will also accept a passport number or other government ID, but this is less common. Call ahead to confirm the bank accepts your form of identification before you visit.

How long does it take to receive my debit card?

Most banks mail debit cards within 5 to 10 business days after you open the account. Some banks issue a temporary card number you can use online or add to a digital wallet immediately. If you need a card urgently, ask the bank if they can issue a card at the branch or expedite shipping for a fee.

What is the minimum opening deposit?

It varies by bank and account type. Some banks have no minimum; others require $25, $100, or more. Online banks often have lower minimums than large national banks. Check the bank's website or call to confirm the minimum before you apply.

Can I open an account if I have been flagged in ChexSystems?

Some banks will decline you, but others will not. Credit unions and second-chance checking accounts are more likely to accept you. You can request a free copy of your ChexSystems report to see what is on it and dispute errors before you apply to another bank.

Do I need to keep a minimum balance?

It depends on the account and the bank. Some accounts waive monthly fees if you maintain a minimum balance (often $500 to $1,500), while others have no minimum. Check the fee schedule to see if a minimum balance is required for your account type.