The documents and information you'll need before you walk in
To open a savings account, you need a government-issued photo ID, proof of your current address, and your Social Security number. Most banks also want to know your employment status and income, though you don't need to be employed—many people open accounts while unemployed, retired, or self-employed. Bring these items with you or have them ready if you're opening online.
The exact documents vary slightly by bank and by state, but the core list stays the same. A driver's license or passport works for ID. For address proof, a recent utility bill, lease, or mortgage statement will do—it needs to show your name and current address and be dated within the last 60 days. If you don't have a recent bill in your name, some banks accept a bank statement, insurance document, or government letter.
You'll also need to decide how much money to deposit to open the account. Some banks require a minimum opening deposit—often $25 to $100—while others let you open with nothing. A few online banks have no minimum at all. Ask before you go, because showing up without enough cash to meet the minimum means a wasted trip.
Key Takeaways
- Bring a government photo ID, proof of your current address dated within 60 days, and your Social Security number to open an account in person.
- Most banks require a minimum opening deposit between $25 and $100, though some online banks have no minimum.
- You do not need to be employed to open a savings account, but the bank will ask about your income and employment status.
- Online banks typically need the same documents but accept digital copies, and the process takes 10 to 15 minutes.
- If you don't have a photo ID, some banks will work with you using alternative documents, but call ahead to confirm what they accept.
What happens if you don't have a photo ID
A photo ID is the standard, but it's not always a hard requirement. If you don't have a driver's license or passport, call the bank first and ask what alternatives they accept. Some will take a state ID card, tribal ID, or military ID. A few banks will work with a combination of non-photo documents—a birth certificate plus a utility bill, for example—though this is less common and you need to confirm it in advance.
If you have no ID at all and can't get one quickly, your best option is to ask whether the bank will let a trusted family member or friend co-sign the account with you. They'll need their own ID and Social Security number. This isn't a loan or a debt—it just means both of you are on the account and both can withdraw money. Not all banks offer this, so ask before you assume it's possible.
Why the bank asks about income and employment
Banks ask about your job and income for two reasons: they're required by federal law to know who their customers are, and they use the information to flag accounts that might be used for money laundering. This is called Know Your Customer (KYC) compliance, and it applies to every bank in the country. You don't have to prove your income with tax returns or pay stubs—you just tell them what it is.
If you're unemployed, retired, or living on disability, say that. If you have no income at all, say that too. Banks open accounts for people with zero income every day. The bank is not judging you or deciding whether you "deserve" an account—they're filling out a form the government requires them to fill out. Answer honestly and move on.
Opening an account online versus in person
Online banks let you open an account from home in 10 to 15 minutes using your phone or computer. You'll upload photos of your ID and address proof, enter your Social Security number, and answer the income questions. The bank verifies your documents electronically and either approves you immediately or asks for clarification within a day or two. You can fund the account by transferring money from another bank account or by mailing a check.
Opening in person at a physical branch takes longer—usually 20 to 45 minutes—but you can deposit cash right away and get a debit card on the spot at some banks. You also get to talk to a person if you have questions about the account or the bank's rules. If you're not comfortable with technology or you want to deposit cash immediately, in-person is the better choice.
Some banks offer both: you can start online and finish in a branch, or start in a branch and finish online. Ask what the bank offers before you decide which route to take.
What to bring if you're opening an account for someone else
If you're opening an account on behalf of a minor, a parent or legal guardian must be present with their own ID and Social Security number. The minor's ID and Social Security number are also required. The account will be in both names, and both the adult and the minor can use it—though some banks let you set it up so the minor can only withdraw money with the adult's permission.
If you're opening an account for an adult who cannot come in person—because they're hospitalized, homebound, or otherwise unable to travel—call the bank and ask whether they'll do a home visit or accept a power of attorney document. Not all banks offer this, and the rules vary widely. Some require the person to sign documents in front of a notary. Get the bank's specific requirements before you assume you can handle it alone.
Documents you do not need
You don't need proof of employment, such as a recent pay stub or letter from your employer. You don't need tax returns. You don't need a credit report or credit score—banks don't check your credit to open a savings account. You don't need a minimum amount of money in the account to keep it open, though some banks charge a monthly fee if your balance falls below a certain level (often $500 to $1,000). Read the fee schedule before you open the account so you know what to expect.
You also don't need to have a job or income at all. Unemployed people, students, retirees, and people on disability open savings accounts every day. The bank asks about income because the law requires it, not because they'll turn you away if you have none.
What to do if the bank rejects your documents
If a bank says your address proof is too old or doesn't show your current address clearly enough, ask what they need instead. Bring a second document—a lease, insurance bill, or government letter with your name and address. If you've recently moved and don't have a bill in your new name yet, some banks will accept a lease or a letter from your landlord confirming your address.
If the bank says your ID is not acceptable, ask which forms of ID they do accept. If they won't take what you have, try a different bank—requirements vary. Some banks are stricter than others, and a bank that turns you down might be one that has very high fraud concerns or outdated systems. Moving to a different bank is often faster than fighting with the first one.
Frequently Asked Questions
Can I open a savings account without a Social Security number?
Most banks require a Social Security number because federal law requires them to verify your identity. If you don't have one, ask the bank whether they'll accept an Individual Taxpayer Identification Number (ITIN) instead. Some banks do; others don't. Call ahead rather than showing up unprepared.
Do I need to have direct deposit set up to open an account?
No. Direct deposit is optional. You can open an account and fund it by transferring money from another bank, depositing cash in person, or mailing a check. Direct deposit is just one way to add money to the account.
What if I don't have a current address or I'm homeless?
Some banks will open an account using a shelter address, a trusted friend's address, or a PO box. Call the bank and explain your situation before you go in. Many banks have worked with homeless customers and know how to handle it. If the first bank says no, try another—policies vary.
How long does it take to open an account online?
The process itself takes 10 to 15 minutes. The bank then verifies your documents, which usually happens within a few hours to one business day. You can start using the account as soon as it's approved, though some banks hold transfers for a day or two for security reasons.
Can I open a joint account with someone who isn't related to me?
Yes. Both people need to be present with their own ID and Social Security number. A joint account means both people own the money and both can withdraw it. Make sure you trust the other person completely, because they have full access to the funds.