1st Source Bank's Online Account Opening Process
1st Source Bank allows you to open a checking or savings account entirely online without visiting a branch. You'll need a valid government ID, a Social Security number, and an initial deposit (the amount varies by account type). The process takes about 10 to 15 minutes, and your account is typically active the same day or within one business day.
1st Source is a regional bank headquartered in Indiana with branches across Indiana, Michigan, and Illinois. If you live in or near those states, opening online is straightforward. If you're outside their service area, you won't be able to complete the process online, though you may still open an account by visiting a branch in person or calling their customer service line.
The bank does not charge monthly maintenance fees on most checking accounts, and savings accounts earn interest rates that vary based on your balance and current market conditions. Both accounts come with a debit card, online banking access, and mobile app functionality.
Key Takeaways
- You can open a 1st Source checking or savings account online in about 10 to 15 minutes using your ID, Social Security number, and an initial deposit.
- 1st Source operates in Indiana, Michigan, and Illinois; if you live outside these states, you cannot complete online account opening.
- Most checking accounts have no monthly maintenance fee, and you receive a debit card and access to online banking immediately upon approval.
- Your account is usually active the same day or within one business day, and you can begin using your debit card or transferring money once it's open.
What You Need Before You Start
Gather these items before you begin the online application. You'll need a valid government-issued photo ID—a driver's license, passport, or state ID card. 1st Source will verify your identity against this document, so make sure it's current and matches the name you'll use on the account.
You'll also need your Social Security number. 1st Source uses this to run a background check and verify your identity with the Social Security Administration. Have it ready before you start the application.
Finally, prepare your initial deposit amount. Checking accounts typically require a minimum opening deposit of $25 to $100, and savings accounts may require $100 or more. You can fund the account using a debit card, credit card, or an external bank transfer. If you're transferring from another bank, have that account's routing and account numbers available.
Step-by-Step: Opening Your Account Online
Go to 1st Source Bank's website and look for the "Open an Account" or "New Accounts" button, usually located on the homepage. Click it and select the account type you want—checking, savings, or both. The system will ask you to confirm your state of residence; if you're outside Indiana, Michigan, or Illinois, the application will stop here.
Enter your personal information: full name, date of birth, address, phone number, and email. 1st Source will ask for your Social Security number next. The system then verifies your identity by checking your information against public records and credit bureaus. This step usually takes a few minutes.
Once your identity is verified, you'll set up online banking credentials—a username and password. Write these down or save them in a password manager; you'll need them to log in after your account opens. You'll also choose security questions and answers for account recovery.
Next, you'll fund your account. Select your funding method: debit card, credit card, or bank transfer. If you're using a debit card or credit card, enter the card number, expiration date, and CVV. If you're transferring from another bank, enter the routing number and account number of the bank you're transferring from. Confirm the deposit amount and submit.
Review the account agreement and disclosures, then sign electronically. 1st Source will send a confirmation email to the address you provided. Your account is now open, though it may take a few hours to one business day for the account to become fully active and for your debit card to be ordered.
When Your Account Is Active and Ready to Use
Once your account is active, you can log into online banking immediately and see your balance. You can set up bill pay, transfer money between your own accounts, and view transaction history. If you funded the account with a debit card or credit card, that deposit typically posts within one to two business days.
Your physical debit card will arrive by mail within 7 to 10 business days. Until it arrives, you can use your account number and routing number to set up direct deposit or to receive transfers from other people. Some 1st Source accounts come with a temporary digital card number that you can use for online purchases immediately.
If you need to deposit cash or withdraw money before your debit card arrives, you can visit any 1st Source branch in person. Bring your ID and your new account number (which appears in your confirmation email and in your online banking portal).
Funding Your Account: Deposit Methods and Timing
You have three main ways to fund your new 1st Source account. A debit card deposit is the fastest—the money posts within one to two business days. A credit card deposit works the same way, though some credit card companies may charge a cash advance fee. Check your credit card's terms before using this method.
A bank transfer from another financial institution takes longer but is free. You'll provide your current bank's routing number and account number, and 1st Source will pull the funds. This typically takes three to five business days, depending on your current bank's processing speed. If you need the money sooner, use a debit card instead.
If you don't have a debit or credit card and your current bank doesn't support online transfers, call 1st Source customer service at their main number (which appears on their website). They can discuss alternative funding methods or arrange a deposit at a branch location.
What Happens If Your Application Is Declined
1st Source may decline your application if your identity cannot be verified, if you have a history of fraud or unpaid bank fees, or if you appear on the ChexSystems or Early Warning Services database (systems that track banking history). You'll receive an email explaining the reason for the decline.
If you were declined, contact 1st Source customer service to ask what triggered the decision. If it was a ChexSystems or Early Warning Services report, you have the right to dispute inaccurate information on that report. Both services allow you to request a copy of your file and file a dispute if something is wrong.
If the decline was due to an inability to verify your identity, you may be able to open an account in person at a 1st Source branch instead. Bring your ID and Social Security card, and a branch representative can complete the application manually. This process takes longer but often succeeds when online verification fails.
After Your Account Opens: Next Steps
Set up direct deposit if you receive a paycheck. Log into your online banking account, find the direct deposit section, and provide your employer with your new account number and 1st Source's routing number (which is 071000013). Direct deposit usually begins within one to two pay cycles.
Set up bill pay if you pay bills by check or online transfer. 1st Source's bill pay service is free and lets you schedule payments to any business or person. You can pay utilities, credit cards, loans, rent, and other bills directly from your account.
Download the 1st Source mobile app to check your balance, deposit checks by photo, transfer money, and receive alerts. The app is available on iOS and Android. You'll log in with the same username and password you created during account opening.
Frequently Asked Questions
Can I open a 1st Source account online if I live outside Indiana, Michigan, or Illinois?
No. 1st Source's online account opening is limited to residents of Indiana, Michigan, and Illinois. If you live elsewhere, you can call their customer service line to discuss other options, but online opening is not available outside their service area.
How long does it take for my debit card to arrive?
Your physical debit card typically arrives within 7 to 10 business days. Until it arrives, you can use your account number and routing number for direct deposit or to receive transfers. Some accounts include a temporary digital card number for online purchases.
What's the minimum deposit to open a 1st Source account?
Minimum opening deposits vary by account type. Checking accounts typically require $25 to $100, and savings accounts may require $100 or more. Check 1st Source's website or call customer service for the exact minimum for the account type you want.
Can I fund my account with a credit card?
Yes, but check your credit card's terms first. Some credit card companies charge a cash advance fee for deposits to bank accounts. A debit card or bank transfer is usually cheaper or free.
What do I do if my online application is declined?
Contact 1st Source customer service to ask why. If the decline was due to a ChexSystems or Early Warning Services report, you can request a copy of that report and dispute inaccurate information. If identity verification failed, try opening an account in person at a branch instead.