Yes, you can open a savings account entirely online at most banks
Most banks and credit unions now let you open a savings account from your computer or phone without visiting a branch. You'll need a valid ID, a Social Security number or tax ID, proof of your current address, and an initial deposit (which varies by bank—some have no minimum, others require $25 or more). The whole process usually takes 10 to 20 minutes, and your account is often ready to use the same day or within one business day.
Not every bank offers online-only account opening. Some smaller banks and credit unions still require you to come in person or mail documents. Before you start, check the bank's website to confirm they have an online option. If they do, the steps are straightforward: fill out an application, verify your identity (usually by uploading a photo of your ID), link a funding source, and confirm your email and phone number.
Key Takeaways
- You will need a valid government-issued ID, Social Security number, proof of address, and an initial deposit amount to open an account online.
- Most banks complete the process in 10 to 20 minutes, and your account is typically active the same day or next business day.
- Some banks use video verification to confirm your identity; others accept a photo upload of your ID and a selfie.
- You can fund your new account by linking a bank account, debit card, or wire transfer, depending on what the bank offers.
- If a bank does not offer online opening, you can ask whether they accept applications by mail or phone before visiting a branch.
What documents and information you need to have ready
Before you start the online application, gather these items: a valid government-issued ID (driver's license, passport, or state ID card), your Social Security number, and a document showing your current address (a recent utility bill, lease, or bank statement works). Have this information in front of you so you do not have to stop mid-application to find it.
You will also need to decide on your initial deposit amount. Check the bank's website for the minimum—many have no minimum at all, while others require $25, $100, or more. Have a funding source ready: a debit card, another bank account you can link, or information about a wire transfer if that is how you plan to fund it. Some banks let you start with zero dollars and deposit later, but this is less common.
How identity verification works online
Banks verify your identity in different ways depending on their system. The most common method is uploading a photo of your ID (front and back) and a selfie taken on your phone or computer. The bank's software checks that the ID is valid and that your face matches the photo. This usually takes a few minutes, though some banks review uploads manually and may take a few hours.
Larger banks sometimes use video verification instead. You schedule a short video call with a bank representative, show them your ID, and answer a few questions. This is more thorough but takes longer—usually 15 to 30 minutes. A few banks use a third-party verification service that asks you questions only you would know (based on your credit history or public records). All of these methods are secure, and the bank will tell you which one they use before you start.
Funding your account on day one
Once your account is open, you can fund it immediately through several methods. The fastest is linking a debit card or another bank account you already have—the money usually appears within one to three business days. Some banks offer instant transfers if you link an account at the same bank or a partner bank, so the money shows up the same day.
Wire transfers are another option if you need to deposit a large amount quickly, though they come with a fee (usually $15 to $30). Some banks also accept ACH transfers, which are free but take three to five business days. A few banks let you mail a check, but that is the slowest option—allow 7 to 10 business days for it to clear. Ask the bank which methods they offer before you open the account if speed matters to you.
Banks and credit unions that offer full online opening
Large national banks like Chase, Bank of America, Wells Fargo, and Citibank all offer online savings account opening. Online-only banks like Ally, Marcus, Discover, and Charles Schwab also open accounts entirely online and often have higher interest rates on savings. Credit unions vary—some allow online opening, while others require you to visit a branch or mail in an application. Check your credit union's website or call to ask.
Regional banks differ too. Some let you open online; others do not. The best approach is to go to the bank's website, look for "Open an Account" or "Savings Accounts," and see if an online option appears. If it does not, you can call the bank's customer service line to ask whether they offer phone or mail applications as an alternative to visiting a branch.
What happens if verification fails or is delayed
If the bank cannot verify your identity from your uploaded documents, they will usually send you an email explaining what went wrong—often a blurry photo, a document that is hard to read, or a mismatch between your ID and your selfie. You can resubmit the documents, and most banks give you multiple attempts. This usually resolves within a few hours to one business day.
In rare cases, the bank may ask you to visit a branch in person or provide additional documents (like a utility bill if your address does not match your ID). If this happens, the bank will contact you by email or phone with instructions. Do not ignore these requests—your account will not be fully activated until verification is complete. If you are stuck, call the bank's customer service line; they can often resolve the issue over the phone or explain what additional documents you need to send.
Comparing online opening to opening in a branch
Opening online is faster and more convenient than visiting a branch—you can do it at any time, day or night, and you do not have to travel. The downside is that you cannot ask questions face-to-face, and if something goes wrong with verification, you have to troubleshoot by email or phone. Opening in a branch takes longer (you have to find a location and wait for an appointment or walk-in time), but a banker can answer questions in real time and handle any verification issues on the spot.
For most people, online opening is the better choice if the bank offers it. You get your account faster, and customer service can still help if something goes wrong. If you prefer talking to a person or if the bank does not offer online opening, a branch visit is your next option. Some banks also let you start the application online and finish it in a branch, which combines the convenience of both methods.
Frequently Asked Questions
How long does it take to open a savings account online?
The application itself takes 10 to 20 minutes. Identity verification can be instant (if you upload documents and they are approved right away) or take a few hours (if the bank reviews them manually). Your account is usually active the same day or by the next business day, though some banks take up to three business days to fully activate it.
Do I need a minimum deposit to open an account online?
It depends on the bank. Many banks have no minimum deposit—you can open an account with zero dollars and deposit later. Others require $25, $100, or more. Check the bank's website before you start the application to see what they require. Some banks waive the minimum if you set up automatic deposits.
What if I do not have a government ID?
Most banks require a valid government-issued ID to open an account online. If you do not have one, you can visit a branch in person—some banks will accept alternative documents like a passport, tribal ID, or military ID. Call the bank to ask what they accept before you go in.
Can I open an account if I have had banking problems in the past?
Banks check a system called ChexSystems that tracks closed accounts and fraud. If you have unpaid overdrafts or fraud on your record, some banks will decline your application. Others are more lenient. If you are declined, ask the bank why and whether you can reapply after a certain time. Some banks specialize in second-chance accounts for people with banking history issues.
Is it safe to upload my ID and take a selfie online?
Yes, if you are using the bank's official website or app. Banks use encryption to protect your documents, and they delete them after verification is complete. Do not upload your ID to a link in an email or text message—that is how scammers work. Always go directly to the bank's website or app to start the application.