Most people put off opening a bank account because they assume it’s going to be complicated — a stack of paperwork, a trip to a branch, maybe a credit check that dings their score. In reality, most applications take fifteen minutes and can be finished from your phone. How to Open a Bank Account?
To open a bank account, choose an account type, pick a bank, and provide a government-issued ID, your Social Security number or ITIN, and proof of address. Most banks let you apply online, verify your identity electronically, and fund the account with a debit card or bank transfer — often in under 20 minutes.
That’s the short version. The details — which documents actually count as proof of address, what happens if you don’t have an SSN, and how to avoid getting stuck with monthly fees — are where people get tripped up. Here’s the full walkthrough.
Choosing the Right Type of Account
Before you fill out any application, decide what the account is actually for. This matters more than which bank you pick.
- Checking account — for everyday spending: bills, debit card purchases, ATM withdrawals. Almost everyone needs one of these.
- Savings account — for money you’re setting aside. Usually earns interest and has fewer transactions per month.
- Joint account — shared by two or more people (spouses, roommates, a parent and child). Every owner is fully liable for the account.
- Business account — separate from personal banking, opened under an EIN rather than a personal SSN, and required if you’re running an LLC or corporation.
Most first-time applicants open a checking account and a savings account together, since many banks waive fees when you hold both.
What You Need Before You Apply
Every bank collects roughly the same core information, whether you’re applying online or walking into a branch. This isn’t arbitrary — banks are required under the Bank Secrecy Act and USA PATRIOT Act to verify who they’re doing business with, which is why identity documentation is non-negotiable no matter how small the deposit.
| Requirement | Typical form it takes |
|---|---|
| Government-issued photo ID | Driver’s license, state ID, or passport |
| Tax ID number | SSN (US citizens/residents) or ITIN (non-residents) |
| Proof of address | Utility bill, lease, or bank statement |
| Personal details | Full legal name, date of birth, phone, email |
| Initial deposit (if required) | Cash, debit card, check, or ACH transfer from another account |
A second form of ID — like a Social Security card or birth certificate — is sometimes requested if your primary ID doesn’t include a photo. If you’re opening a joint account, every co-owner needs to supply their own documents.
How to Open a Bank Account: Step-by-Step
- Pick a bank or credit union. Compare fees, minimum balance requirements, ATM networks, and whether you want a branch nearby or you’re fine banking entirely online.
- Select your account type on the bank’s website or app, and click “Open an Account” or “Apply Now.”
- Enter your personal information — legal name, date of birth, phone, email, and address.
- Provide your ID and tax ID number. Most online applications let you upload a photo of your ID and enter your SSN or ITIN directly.
- Authorize identity verification. You’ll typically check a box or e-sign, allowing the bank to run a soft check (this isn’t the same as a credit check — it verifies your identity, not your creditworthiness).
- Fund the account. If there’s a minimum deposit, transfer it from an existing account, or use a debit card, check, or cash at a branch.
- Submit and wait for approval. Most online applications are approved instantly or within 1–2 business days. In-person applications are often approved on the spot.
- Activate your account. Set up online banking, download the mobile app, and wait for your debit card to arrive by mail (usually 5–10 business days).
If anything in your application doesn’t match — a typo in your address, an expired ID — the bank may pause the process and ask you to call or visit in person to confirm details.
How to Open a Bank Account Without an SSN (Non-Residents and Foreign Nationals)
This is where most generic guides stop short, and it’s a real gap: plenty of people trying to open an account in the US don’t have a Social Security number, and that doesn’t mean they’re out of luck.
Banks are not legally required to collect an SSN specifically — they’re required to collect a valid taxpayer identification number. For non-residents and non-citizens, that’s usually an ITIN (Individual Taxpayer Identification Number), issued by the IRS. Some banks will also accept a valid foreign passport plus a US address as a substitute while an ITIN application is pending.
- Large traditional banks — Bank of America, Wells Fargo, Chase, US Bank, and TD Bank all have processes for non-resident applicants, though most require an in-person visit and a US mailing address.
- Fintech and neobank platforms — Mercury, Wise, Payoneer, and Relay allow fully remote onboarding for individuals or businesses, often without requiring an SSN at all, which makes them a common choice for freelancers, digital nomads, and founders operating outside the US.
- Business accounts — if you’re opening an account for a US LLC, an EIN (Employer Identification Number) can often stand in for a personal SSN entirely, especially with fintech providers.
Expect to also provide a visa or entry stamp, proof of a US address (a hotel address usually won’t qualify), and in some cases a completed IRS Form W-8 confirming your foreign status for tax purposes.
Special Cases: Minors, Students, and Joint Accounts
- Minors generally can’t open an account entirely on their own — most banks require a parent or legal guardian to co-sign as a joint owner until the child turns 18, though some offer teen-specific accounts with parental controls.
- International students typically need a passport, visa, I-20 form, and proof of a US address; some banks allow this to be started remotely before arrival.
- Joint accounts require identity documents from every co-owner, and all owners share equal legal responsibility for the account’s activity and any overdrafts.
READ MORE: What Is a Checking Account?
After You Open Your Account
Once your application is approved, a few quick steps get the account fully working:
- Enroll in online and mobile banking so you can check balances, transfer money, and deposit checks remotely.
- Set up two-factor authentication to protect against unauthorized access.
- Set up direct deposit with your employer using the account and routing numbers on your new account.
- Activate your debit card as soon as it arrives, and consider opting into overdraft protection if the bank offers it, so a small overdraft doesn’t trigger a bounced-payment fee.
How to Avoid Fees and Common Mistakes
Most account fees are avoidable if you know what triggers them before you sign up:
- Monthly maintenance fees are frequently waived if you maintain a minimum balance or set up recurring direct deposit — check the specific threshold before assuming you’re covered.
- ATM fees stack up fast if your bank has a small network; online banks often reimburse out-of-network ATM fees, traditional banks usually don’t.
- Overdraft fees can often be avoided entirely by opting out of overdraft coverage or linking a savings account as backup.
- Declined applications are sometimes caused by a flag in ChexSystems, a reporting agency banks use to check an applicant’s history of unpaid overdrafts or account mismanagement at other institutions — not a traditional credit bureau, and not something most “what you need” guides mention. If you’ve been declined before, a second-chance checking account is usually the fastest path back in.
IF YOU HAVE MORE QUESTIONS, BROWSE OUR FULL BANK GUIDE FOR FULL DETAILS.
FAQ
Do I need a Social Security number to open a bank account?
No. US citizens and residents typically use an SSN, but non-residents can usually open an account with an ITIN, and some banks accept a foreign passport with proof of a US address as an alternative.
How much money do I need to open a bank account?
It depends on the bank. Many online banks and credit unions have no minimum deposit, while some traditional banks require $25–$100 to open the account.
How long does it take to open a bank account?
Online applications are often approved instantly or within 1–2 business days. In-person applications at a branch are frequently approved the same day.
Can a minor open a bank account?
Not independently in most cases. A parent or legal guardian usually needs to co-sign as a joint account holder until the minor turns 18, though many banks offer teen checking accounts designed for this.
Will opening a bank account affect my credit score?
No. Banks run a soft identity/ChexSystems check to verify who you are, not a hard credit inquiry, so opening an account doesn’t affect your credit score.
What’s the difference between a checking and a savings account?
A checking account is built for everyday spending — debit card purchases, bill pay, ATM withdrawals — while a savings account is meant for money you’re setting aside and typically earns interest but limits monthly transactions.
Can I open a business bank account without an SSN?
Yes, in many cases. Businesses formed as an LLC or corporation can often open an account using an EIN instead of a personal SSN, particularly through fintech providers like Mercury, Wise, or Relay.
Why was my bank account application declined?
Declines are often caused by a mismatch in your provided information, an expired ID, or a flag in ChexSystems from a past unpaid overdraft or account issue at another bank — not a low credit score.