You can open a TruRate checking account entirely online through their website
TruRate offers online account opening, meaning you do not need to visit a physical location or call a representative to start. The process takes place on their website and typically completes in under 15 minutes. You will need a valid government ID, a Social Security number, and a way to fund your account — either a debit card, bank transfer, or external account information.
TruRate is an online bank, so there are no branch locations to visit. Everything from account setup through ongoing management happens through their website or mobile app. This also means customer service is handled by phone, email, or chat rather than in person.
Key Takeaways
- TruRate checking accounts open entirely online without visiting a branch or speaking to anyone by phone first.
- You need a valid government ID, Social Security number, and initial funding source to complete the account opening process.
- The entire process typically takes 10 to 15 minutes from start to finish.
- Your account becomes active immediately after approval, though transfers and deposits may take one to three business days to appear.
- TruRate customer service is available by phone, email, and chat, but not through in-person branch visits.
What you need before you start
Gather these items before you visit TruRate's website to open an account. You will need a valid government-issued ID — a driver's license, passport, or state ID card. TruRate will ask you to verify your identity using this document, and the name on the ID must match the name you use to open the account.
You also need your Social Security number. TruRate uses this to verify your identity and run a background check as part of their account opening process. Have this ready before you begin.
Finally, you need a way to fund your account. This can be a debit card, a bank account you already have (you will need the routing and account numbers), or another external account. TruRate does not require a minimum opening deposit, but you will need to link at least one funding source to complete the account opening.
The step-by-step account opening process
Go to TruRate's website and look for the button to open a new account — usually labeled "Open an Account" or "get your free guide." Click it and you will be taken to their account opening form.
Enter your personal information: full name, date of birth, address, phone number, and email address. Make sure the name matches your government ID exactly. TruRate will use this information to verify your identity.
Provide your Social Security number when prompted. TruRate runs a background check and checks banking history databases to confirm your identity and assess risk. This is a standard step for all online banks.
Choose your account type. TruRate offers different checking account options — review the features, fees, and interest rates to pick the one that fits your needs. You can only open one account type during this session, though you can add accounts later.
Link a funding source. Enter either a debit card number or your existing bank account details (routing number and account number). TruRate uses this to verify your identity and to fund your new account if you choose to deposit money immediately.
Review the account terms and disclosures. TruRate will show you the account agreement, fee schedule, and privacy policy. Read through these carefully — they explain what fees apply, how the account works, and how TruRate handles your information.
Submit your information. Once you have filled everything out and reviewed the terms, click submit. TruRate will process your application immediately.
How long approval takes and when you can use your account
Most TruRate accounts are approved within minutes of submission. You will receive a confirmation email with your account number and login details. Your account is active as soon as you see this confirmation.
However, there is a difference between account activation and fund availability. Your account opens immediately, but money you transfer or deposit may take one to three business days to appear, depending on the funding method. Transfers from another bank account typically take two to three business days. Debit card deposits may process faster, sometimes within 24 hours.
You can set up direct deposit, bill pay, and other account features as soon as your account is active, even if your initial deposit has not arrived yet. This means you can provide your TruRate account and routing number to your employer or creditors right away.
What happens if your application is denied or delayed
TruRate may deny your account opening for several reasons: a mismatch between your ID and the information you provided, a Social Security number that does not match records, or a banking history that raises concerns. If this happens, you will receive an email explaining the reason.
If your application is denied, contact TruRate customer service by phone or email to ask what went wrong. Sometimes the issue is a simple data entry error that can be corrected and resubmitted. Other times, the bank's policy prevents them from opening an account for you.
If you are denied, you can try opening an account at another online bank. Different banks use different verification methods and have different risk policies, so denial from one bank does not mean all banks will deny you.
Funding your account after it opens
Once your TruRate account is active, you can fund it in several ways. You can transfer money from another bank account using your TruRate routing number and account number. You can deposit a check by taking a photo of the front and back through the TruRate app. You can set up direct deposit from your employer or other income source.
You can also link an external account and transfer money between them. TruRate allows you to link multiple external accounts, which is useful if you have money at several different banks.
The first time you transfer money from an external account, TruRate may hold the funds for a few days while they verify the transfer. This is a security measure to prevent fraud. After the first transfer clears, subsequent transfers usually process faster.
Security and identity verification during account opening
TruRate uses several methods to verify your identity during account opening. They check your government ID against your personal information. They verify your Social Security number against Social Security Administration records. They may also run a soft credit check, which does not affect your credit score.
If TruRate cannot verify your identity through these standard methods, they may ask you to provide additional documentation — a utility bill, lease agreement, or other proof of address. If this happens, follow their instructions and submit the documents through their secure portal.
Your information is encrypted during the account opening process. TruRate does not share your personal information with third parties except as required by law or as part of their normal banking operations.
Frequently Asked Questions
Do I need a minimum deposit to open a TruRate checking account?
No. TruRate does not require a minimum opening deposit. However, you do need to link a funding source (debit card or bank account) to complete the account opening process. You can link a source without immediately depositing money.
What if my name on my ID does not match the name I want to use for the account?
Your account name must match your government ID exactly. If your legal name has changed, update your ID first, then open the account. If you go by a different name but your ID shows your legal name, use your legal name for the account.
Can I open a TruRate account if I have been denied by other banks?
Possibly. Different banks have different approval standards. A denial from one bank does not mean TruRate will deny you. However, if you were denied because of fraud or identity theft, TruRate may also deny you. Contact TruRate customer service to discuss your situation before applying.
How do I log in after my account opens?
TruRate will send you login credentials in your confirmation email. Go to their website, click "Log In," and enter your username and password. You can also download the TruRate mobile app and log in there. Set up two-factor authentication for added security.
What if I need to close my account after opening it?
You can close your TruRate account at any time through their website or by calling customer service. Withdraw any remaining balance first, then request account closure. TruRate will confirm the closure and send you a final statement.