The documents and information you'll need before you walk in

To open a savings account at a bank or credit union, you need a government-issued photo ID, proof of your current address, and your Social Security number. That's the baseline. Most banks also ask for an initial deposit — usually between $0 and $300, depending on the institution — though some accounts have no minimum. A few banks will let you open an account online with just your ID and SSN, skipping the address proof for now.

The exact requirements vary by bank. A large national bank like Chase or Bank of America has one set of rules; a local credit union has another. Online banks like Ally or Marcus often have looser document requirements because everything happens remotely. Before you go in or click through, check the bank's website for their specific list — it takes two minutes and saves you a wasted trip.

Key Takeaways

  • You need a government photo ID, proof of address, and your Social Security number to open an account at nearly every bank or credit union.
  • Most banks require an opening deposit between $0 and $300, though some have no minimum at all.
  • Online banks often need fewer documents than brick-and-mortar branches because the entire process happens digitally.
  • If you don't have a Social Security number, some banks and credit unions will open an account using an ITIN (Individual Taxpayer Identification Number) instead.
  • Bring originals of your documents — photocopies usually don't work — and plan to spend 15 to 30 minutes in the branch or on the phone.

What counts as proof of address

Proof of address means a document showing your name and current street address, issued within the last 60 to 90 days. A utility bill (electric, gas, water, internet) is the most common choice. A lease or mortgage statement works. So does a recent bank statement, credit card statement, or government mail like a tax return or benefits letter.

A driver's license with your current address printed on it counts as both ID and proof of address, so you only need one document instead of two. If your license shows an old address, bring it anyway plus one of the documents listed above. A PO box does not work as proof of address — banks need a physical street address.

If you don't have a Social Security number

If you're not a U.S. citizen but have legal work authorization, you can use an ITIN (Individual Taxpayer Identification Number) instead of a Social Security number. You'll need to bring your ITIN letter from the IRS along with your other documents. Not all banks accept ITINs — credit unions are often more flexible — so call ahead to confirm.

If you have neither a Social Security number nor an ITIN, some banks and credit unions will open an account using just your passport and proof of address, though this is less common. A few institutions require a U.S. address and a U.S. phone number even without an SSN. Again, call the bank first rather than showing up unprepared.

Opening deposits and minimum balances

An opening deposit is the money you put in when you create the account. This is separate from any minimum balance requirement, which is the smallest amount you must keep in the account to avoid fees. Some banks have both; some have neither.

Opening deposits range from $0 to $300. Online banks and some credit unions often have no opening deposit. Large national banks typically ask for $25 to $100. If you're opening the account online, the bank will ask you to link an existing bank account and transfer the opening deposit electronically — you won't hand over cash in a branch.

Minimum balance requirements also vary. A basic savings account at a national bank might require you to keep $300 in the account at all times, or you'll pay a monthly fee. An online savings account might have no minimum. A high-yield savings account sometimes requires $1,000 or more. Read the account terms before you commit — the interest rate matters less than the fees if you can't meet the minimum.

What to bring to a branch or have ready online

If you're opening an account in person, bring originals of your documents — not photocopies. Bring your photo ID, your proof of address, and your Social Security card or ITIN letter. Bring a checkbook or debit card application if you want one, though the bank can usually set that up during the appointment. Bring the opening deposit in cash, check, or be ready to transfer it from another account.

If you're opening an account online, have your photo ID ready to photograph or scan, your SSN or ITIN, your current address, and a way to make the opening deposit (a linked bank account or a debit card). The bank will guide you through uploading documents and verifying your identity. The whole process usually takes 10 to 20 minutes.

What happens if you're missing a document

If you show up without proof of address, most banks will let you open the account anyway and mail you a confirmation letter to your address on file. You then bring that letter back within 30 days to complete the verification. This is slower but not a dealbreaker.

If you don't have a photo ID, most banks won't open an account for you in person. Some will let you open one online and verify your identity through other means — a video call with a bank employee, for example. Call the bank and ask what alternatives they offer before you assume you're stuck.

How long it takes and what happens next

Opening an account in a branch takes 15 to 30 minutes. The banker will ask you questions about the account type you want, take your documents, process your opening deposit, and hand you a debit card (sometimes immediately, sometimes mailed to you). You'll get online banking access right away so you can start using the account.

Opening an account online takes 10 to 20 minutes from start to finish. You'll upload your documents, verify your identity (usually through a photo check or a video call), transfer your opening deposit, and receive your account number and online login within minutes. Your debit card arrives by mail in 5 to 10 business days.

Frequently Asked Questions

Can I open a savings account without a Social Security number?

Yes, if you have an ITIN or a valid passport. Not all banks accept these alternatives, so call ahead. Credit unions are often more flexible than large national banks about non-SSN accounts.

What if my address on my ID doesn't match my current address?

Bring your ID anyway, plus a separate proof of address document showing your current address. The bank will use both. You don't need to update your ID first.

Do I have to make a deposit when I open the account?

Most banks require an opening deposit of $25 to $300, though some online banks have no minimum. Check the bank's website before you go in. Even if there's no opening deposit, you'll need to fund the account eventually to use it.

Can I open an account online if I don't have a U.S. address?

Most banks require a U.S. street address to open an account, whether online or in person. Some online banks and credit unions may have different rules — call and ask. A PO box does not work.

What if the bank rejects my documents?

Ask the banker or customer service representative which document didn't work and why. They can tell you what alternative documents they'll accept. If one bank won't work with you, try a credit union or a different bank — requirements vary.