Set up your account security before you deposit money

The first thing to do after opening an online checking account is secure it. Log in immediately using the temporary password the bank sent you, then change it to something only you know — a mix of uppercase, lowercase, numbers, and symbols that you have not used anywhere else. Write it down in a place only you can access, like a locked drawer or password manager.

Next, set up two-factor authentication if the bank offers it. This means the bank will ask for a second form of proof (usually a code sent to your phone) every time you log in from a new device. It takes an extra 30 seconds per login but stops someone who steals your password from getting into your account.

Check the security settings page for options to limit who can contact the bank on your behalf. Some banks let you set a verbal password or PIN that you have to give before anyone — even someone claiming to be you — can make changes. Use this if it is available.

Key Takeaways

  • Change your temporary password immediately and set up two-factor authentication to prevent unauthorized access.
  • Link your external bank account for transfers within one to three business days, or wait for the bank to send you two small deposits to verify ownership.
  • Set up direct deposit with your employer or benefits provider so paychecks and payments land automatically without you having to transfer money.
  • Review your account settings to turn on fraud alerts, set spending limits if available, and disable features you do not plan to use.
  • Keep your login information, account number, and routing number private — never share them by email, text, or phone call.

Link your old bank account or verify your identity

To move money into your new account, you need to connect it to a bank account you already have, or verify your identity through the bank's system. Most online banks offer both routes.

The fastest way is to link an external account. Log into your new account, find the "Add Account" or "Link Bank Account" option, and enter your old bank's routing number and your account number. The bank will then send two small deposits (usually under $1 each) to your old account within one to three business days. Once those deposits arrive, you log back in and confirm the amounts. After that, you can transfer money between the two accounts instantly or within one business day, depending on the bank.

If you do not have another bank account yet, or if linking fails, the bank can verify your identity another way. You may need to upload a photo of your driver's license, answer security questions about your credit history, or confirm recent transactions from your credit report. This usually takes a few minutes to a few hours.

Set up direct deposit so money arrives automatically

Direct deposit is the easiest way to get paid. Instead of receiving a paper check or having to transfer money yourself, your employer or benefits provider sends your paycheck or payment straight to your account on payday.

To set this up, you need your new account's routing number and account number. You can find both in your online banking dashboard, usually under "Account Details" or "Account Information," or on a check if the bank sent you one. Give these numbers to your employer's payroll department or to the benefits program (Social Security, unemployment, tax refund, etc.). They will set up the deposit on their end, and your money will start arriving automatically on the regular schedule — usually within one or two pay periods.

If you receive a tax refund, you can also set up direct deposit through the IRS website or your state tax authority. This is faster and more secure than waiting for a paper check.

Turn on fraud alerts and review your settings

Most online banks let you control how the account behaves. Log into your settings or preferences and look for options to turn on fraud alerts. These send you a notification (usually by email or text) whenever someone tries to log in, makes a large transfer, or uses your debit card. You do not have to do anything with the alert — it just tells you what is happening.

Check whether the bank lets you set daily spending limits on your debit card or online transfers. If you set a limit of $500 per day, for example, no one can spend more than that even if they have your card number. This is optional but useful if you are worried about fraud.

Review which features are turned on. If you do not plan to use overdraft protection (where the bank covers a purchase if your balance is too low and charges you a fee), turn it off. If you do not want to receive paper statements, disable them. The fewer features running, the fewer things that can go wrong.

Deposit your first money and test a transfer

Once your account is secure and linked, deposit a small amount of money — $20 to $50 is enough. If you linked an external account, transfer it from your old bank. If you set up direct deposit, you can wait for your next paycheck, but testing with a small transfer first lets you see how long it actually takes and catch any problems before your real money arrives.

Watch the money move. Note the exact time you initiated the transfer and check your new account several times over the next day or two. Most transfers between linked accounts happen within one business day, but some take longer. Knowing how long your bank actually takes helps you plan when to move money in the future.

Once the money arrives, make a small purchase with your debit card (if the bank sent you one) or a test online payment to confirm the card works. This catches any problems with the card itself before you need it for something important.

Save your account information in a safe place

Write down or securely store your account number, routing number, and the bank's customer service phone number. You will need these for direct deposit, wire transfers, and to prove you own the account if something goes wrong.

Do not store this information in an email, a text message, or a note on your phone's home screen. Use a password manager (like Bitwarden or 1Password), a locked drawer, or a safe. If someone gains access to your email or phone, they can use this information to impersonate you or move your money.

Keep your login password separate from your account number. If someone gets your account number, they cannot do much without your password. If someone gets both, they can access your account.

Check your account regularly for the first month

Log in at least once a week for the first month and review your transactions. Look for any charges you did not make, any transfers you did not authorize, or any fees that surprise you. Most banks let you dispute unauthorized transactions within 60 days, so catching fraud early matters.

Pay attention to any fees the bank charges. Some online banks charge monthly maintenance fees, overdraft fees, or fees for using out-of-network ATMs. If you see a fee you do not understand, contact the bank's customer service and ask what it was for. Many banks will reverse a fee if you ask, especially if it is your first month.

If you notice something wrong — a transaction you did not make, a fee you do not recognize, or a login from a place you were not — contact the bank immediately. Most banks have a fraud line that is open 24/7.

Frequently Asked Questions

How long does it take to transfer money from my old bank to my new account?

If you linked your old account, transfers usually take one business day, though some banks take up to three. If you are depositing a check by photo, it takes one to two business days. Direct deposit from an employer or benefits program takes one to two pay periods to set up, then arrives automatically on schedule.

Do I need to close my old checking account right away?

No. Keep your old account open for at least a month while you make sure direct deposit is working and all your regular payments are set up with the new account. Once you are confident everything is working, you can close the old account. Closing it too fast can cause problems if a payment tries to go through.

What should I do if I forget my password?

Use the "Forgot Password" link on the bank's login page. The bank will send you a reset link by email or text. Click it and create a new password. If you cannot access your email or phone, call the bank's customer service line and they can help you regain access after confirming your identity.

Can I use my debit card right away, or do I have to wait?

You can usually use your debit card as soon as it arrives, even if you have not deposited money yet — the bank will either decline the purchase or charge you an overdraft fee. Wait until you have money in the account before using it. If the bank did not send you a physical card, you can often request a temporary digital card number in the app to use online immediately.

What if the bank asks me to verify my identity and I do not have a credit history?

Tell the bank you do not have a credit report. They can verify your identity another way — usually by asking for a photo ID and a recent utility bill or lease showing your address. Some banks also accept a video call where you show your ID to a representative.