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To open any type of bank account, you'll need to provide basic information about yourself and in some cases an initial deposit. You also may need a few extra documents if you're opening a teen checking account or student bank account.
You generally must be 18 to open a bank account in the U.S., although you can open one if a parent or guardian co-owns the account.
Some institutions will turn you away if you have a criminal record or aren't a U.S. citizen, and others may reject you if you have a history of overdrafts or other negative activity with your previous bank.
Not all banks have the same eligibility requirements. If you find out you can't open an account with one bank, don't give up — keep looking.
If you do not have a Social Security number or U.S. ID to open a bank account, there are banks that permit immigrants and non-U.S. citizens to open an account. You may find an option near where you live.
If you've struggled to open a bank account due to a negative banking history, the best second chance checking accounts may be worth exploring.
Second chance banking does not use ChexSystems to review your banking history. Hence, you open a second chance bank account regardless of what your banking history looks like.
Having the following documents ready can help you prepare for bank account opening.
You'll need a driver's license, passport, or military ID to open an account.
If you don't have any of these documents and aren't ready to take a driving test, visit the Department of Motor Vehicles (DMV) to get a state-issued ID. It's similar to a driver's license card, except it doesn't authorize you to drive — it's just a tool for identifying yourself.
If you're a U.S. citizen, bring your Social Security card to the bank or have it handy if you're applying online. If you're a non-U.S. citizen, bring proof of your ITIN.
Bring a recent piece of mail with you that contains your home address, such as a utility bill or a bank statement from your current financial institution.
Not all banks require an initial deposit to open an account, but some may ask for a deposit ranging from $5 to $100.
Be ready with cash or a check to make the deposit. You can also transfer money from another bank to your new account, but the other bank may charge a common bank fee for this activity.
You must be at least 18 years old to open a bank account on your own. You can open a bank account for a minor, but you must bring a parent or guardian with the necessary documentation to open the account with you.
Student bank accounts often come with extra perks, such as cash bonuses or waived monthly fees. You should bring proof of enrollment, like a school transcript, and your student ID.
If you're opening a joint bank account, you'll need all the necessary documentation for both people.
Opening an account online is pretty similar to doing it in person — you just don't have to make the trip.
You'll still need all the same documentation to apply for a new bank account. An online application will likely have a way for you to scan or submit pictures of necessary documents. You can't make your opening deposit in cash, however, so the easiest way is to transfer money from another bank account.
If you are missing any of the documents needed to apply online, want to deposit cash or a check into the account, or you have banking questions, an in-person visit may be better.
Can I open a bank account without a Social Security number? Chevron icon It indicates an expandable section or menu, or sometimes previous / next navigation options.
Yes, you can use an Individual Taxpayer Identification Number (ITIN). Some banks may permit other forms of identification, like a Matricula Consular.
What forms of identification are acceptable for opening a bank account? Chevron icon It indicates an expandable section or menu, or sometimes previous / next navigation options.
Common documentation for a bank account opening includes a driver's license, passport, military ID, or state-issued identification card.
Is a minimum deposit always required to open a bank account? Chevron icon It indicates an expandable section or menu, or sometimes previous / next navigation options.
The minimum opening deposit required to open an account may vary from $0 to $100.
Can I open a bank account online if I'm not a U.S. resident? Chevron icon It indicates an expandable section or menu, or sometimes previous / next navigation options.
Certain banks allow non-residents to open accounts online but may require additional documentation.
What should I consider when choosing between opening an account online or in-person? Chevron icon It indicates an expandable section or menu, or sometimes previous / next navigation options.
Filling out an online application can save you a trip to a physical bank branch. However, if you are missing any of the necessary documents to apply online or you have banking questions, an in-person visit may be worth it.
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5.31% annual percentage yield (APY) is accurate as of 7/11/2024 and subject to change at the Bank’s discretion. Minimum deposit required to open an account is $500 and a minimum balance of $0.01 is required to earn the advertised APY. Accurate as of the time of publication. The national average rate referenced is from the FDIC’s published National Rates and Rate Caps for Savings deposit products, accurate as of 8/19/2024. See the FDIC website for more information. https://www.fdic.gov/resources/bankers/national-rates/index.html
Editorial Note: Any opinions, analyses, reviews, or recommendations expressed in this article are the author’s alone, and have not been reviewed, approved, or otherwise endorsed by any card issuer. Read our editorial standards.
Please note: While the offers mentioned above are accurate at the time of publication, they're subject to change at any time and may have changed, or may no longer be available.
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