Banks and credit unions that let you open accounts entirely online

You can open a checking or savings account online at most national banks, many regional banks, and most credit unions. The largest online-only banks—Ally, Charles Schwab, Discover, and Marcus—have no physical branches and handle everything through their website or app. Traditional banks with branches, like Chase, Bank of America, Wells Fargo, and Citibank, also let you open accounts online without visiting a branch. Credit unions often have online account opening too, though the process and available products vary by institution.

The main difference is speed and what you can do remotely. Online-only banks typically complete the process in minutes to a few hours. Banks with physical branches sometimes require you to visit in person to verify your identity or make an initial deposit, even if you started the application online. Credit unions may require membership first, which itself can take a few days.

Key Takeaways

  • Online-only banks like Ally, Charles Schwab, Discover, and Marcus open accounts entirely through their website or app, usually within hours.
  • Traditional banks with branches allow online account opening but may require an in-person visit to complete identity verification or deposit funds.
  • Credit unions offer online account opening for members, but you may need to join the credit union first, which can take several days.
  • You will need a government-issued ID, Social Security number, and proof of address to open an account at any institution.
  • Some banks offer higher interest rates on savings accounts or lower fees, so comparing institutions before opening can save you money over time.

What you need to have ready before you start

Every bank and credit union will ask for the same core documents during online account opening. Have your government-issued ID (driver's license, passport, or state ID card) ready to photograph or scan. You will also need your Social Security number and a proof of address—a recent utility bill, lease, mortgage statement, or government mail showing your current address usually works.

Some institutions ask for a phone number and email address you actively use, since they will send verification codes to confirm your identity. A few banks also ask for your employment information or annual income, though this is less common for basic checking accounts. If you are opening a joint account, you will need the same documents for the other account holder.

Online-only banks: fastest route if you have no branch preference

Online-only banks complete account opening in minutes to a few hours because they do not need to verify you in person. Ally Bank, Charles Schwab Bank, Discover Bank, and Marcus by Goldman Sachs all operate this way. You enter your information on their website or app, upload or photograph your ID, and the bank verifies your identity electronically using your Social Security number and address. Once approved, you can start using the account immediately—some let you set up direct deposit or transfers before your debit card arrives.

The trade-off is that you cannot deposit cash or get in-person help. If you need to deposit checks, you can photograph them through the app (mobile check deposit). If you need cash, you can withdraw from ATMs in their network, or transfer money to another bank account and withdraw there. Online-only banks often have lower fees and higher interest rates on savings accounts because they have no branch costs, but they are not the right fit if you regularly need to handle cash or talk to someone in person.

Banks with branches: online start, in-person finish

Chase, Bank of America, Wells Fargo, Citibank, and most regional banks let you begin the account opening process online, but many require you to visit a branch to complete it. The online part takes 10 to 15 minutes—you enter your personal information, choose your account type, and upload your ID. Then the bank either approves you immediately or asks you to come in within a set number of days (usually 7 to 14) to verify your identity in person and make an initial deposit.

Some branches will waive the in-person requirement if you already have another account with them, or if you set up a direct deposit from your employer. Call the branch or check the bank's website before you start the application to see what your specific situation requires. The advantage of branch banks is that you can deposit cash, get help from a person, and access your account at thousands of locations. The disadvantage is that the process takes longer and you cannot complete it entirely from home.

Credit unions: membership first, then account opening

Credit unions often have lower fees and better interest rates than banks, but most require you to become a member before you can open an account. Membership rules vary—some credit unions are open to anyone in a geographic area, others require you to work for a specific employer, belong to a certain organization, or have a family member who is already a member. A few large credit unions like Connexus and Pentagon Federal Credit Union have broader membership rules and let you join online.

Once you are a member, opening an account is usually straightforward and can happen online or by phone. The membership process itself can take a few days because the credit union verifies your identity and may run a background check. If you already belong to a credit union through your employer or a group, you can skip the membership step and open an account directly. Check your credit union's website or call to confirm whether you are may be able to access to join before you start.

How identity verification works online

Banks verify your identity online using information from your ID, your Social Security number, and public records. When you upload your driver's license or passport, the bank's software reads the information and checks it against what you typed in. The bank then cross-references your Social Security number and address against credit bureaus and other databases to confirm you are who you say you are. This usually takes seconds to a few minutes.

Some banks use a video call instead of or in addition to document upload. You will speak with a bank representative (or an automated system) who asks you to show your ID to the camera and answer security questions. This is more common at banks with branches, because they use it as a substitute for an in-person visit. A few banks ask you to answer questions about your credit history—things like "which of these addresses have you lived at" or "which of these credit cards have you had"—to verify your identity without needing to see your ID in real time.

Initial deposit requirements and minimum balances

Most banks and credit unions let you open an account online with no initial deposit, though some require a small one—typically $25 to $100. A few banks waive the minimum if you set up direct deposit or keep a certain balance. Check the specific account terms before you open, because the minimum balance requirement is separate from the opening deposit. Some accounts have no minimum balance at all; others require you to keep $500 or more to avoid a monthly fee.

Online-only banks almost never have minimum balance requirements or monthly fees. Traditional banks often charge a monthly maintenance fee ($10 to $15) unless you meet certain conditions—maintaining a minimum balance, setting up direct deposit, or keeping a linked savings account. Credit unions typically have lower fees than banks, and many have no monthly maintenance fee at all. If you are opening an account with very little money, an online-only bank or a credit union is usually the cheaper choice.

Frequently Asked Questions

Can I open a bank account online if I do not have a permanent address?

Most banks require a current address to open an account. If you are unhoused or living temporarily, some banks accept a shelter address, a PO box, or a care-of address (c/o someone else's address). Call the bank directly before you apply—the online form may reject you, but a representative can sometimes override that and help you complete the application by phone.

How long does it take to get a debit card after opening an account online?

Debit cards typically arrive in 7 to 10 business days after your account is approved. Most banks let you use a temporary digital card in their app immediately while you wait for the physical card. If you need cash urgently, you can withdraw from ATMs using the digital card or transfer money to another bank account.

What if the bank rejects my online application?

Banks reject applications for reasons like a mismatch between your ID and the information you entered, a flag in your banking history (like unpaid overdrafts at another bank), or an error in the identity verification process. Call the bank's customer service line and ask why you were rejected. Many banks will let you reapply or complete the process by phone with a representative if there was a technical error.

Do I need to have good credit to open a bank account online?

No. Banks do not check your credit score to open a checking or savings account. They may check ChexSystems, a banking history database, to see if you have unpaid overdrafts or fraud issues at other banks. If you have a ChexSystems record, some banks will still open an account for you, but others will not. Ask the bank whether they use ChexSystems before you apply.

Can I open multiple accounts at different banks at the same time?

Yes. Opening multiple accounts does not hurt your credit and does not violate any banking rules. However, each bank will verify your identity, so you will need your ID and Social Security number ready for each application. Be aware that if you open accounts at banks that use ChexSystems, multiple applications in a short time may trigger a flag, though this usually does not prevent approval.