Opening a bank account online is usually quick and can often be done from your phone in minutes, without visiting a branch. This step-by-step guide covers what you need, how identity verification works, how to fund your new account and how to stay safe.
What you need before you start
- Your full legal name and date of birth.
- A Social Security number or, at some banks, an Individual Taxpayer Identification Number (ITIN).
- A U.S. residential address, plus a phone number and email address.
- A valid government-issued photo ID, such as a driver’s license or passport.
- An initial deposit, if the bank requires one. Many online banks do not require a minimum opening deposit.
Most banks require applicants to be at least 18. Younger customers can usually open a joint or custodial account with an adult. Our guide to the best banks for teenagers covers options for younger customers.
Step-by-step: how to open a bank account online
- Choose the right account and bank. Decide whether you need checking, savings or both, then compare fees, features and interest rates. Our guides to the best online checking accounts and online banks with no monthly fees are a good place to start.
- Confirm the bank is insured. Search for it in the FDIC’s BankFind tool to confirm it is an FDIC-insured bank. With a neobank, find out which partner bank holds your deposits.
- Gather your information. Have your ID, Social Security number and address ready so you can complete the application in one sitting.
- Fill out the application. Enter your personal details carefully. Names and addresses should match your ID exactly, because mismatches are a common cause of delays.
- Verify your identity. Federal rules require banks to verify the identity of new customers. You may be asked to upload photos of your ID, take a selfie or answer security questions.
- Review and accept the terms. Read the fee schedule and account agreement, especially monthly fees, overdraft policies and ATM charges. Our guide to common bank fees explains the most usual charges.
- Fund the account. Most banks let you link an existing account, transfer money electronically or deposit a check through the app, and some let you add cash at retail partners. The first transfer can take a few business days to arrive.
- Set up online access and security. Create a strong, unique password and turn on two-factor authentication. Download the bank’s official app from the App Store or Google Play.
- Activate your debit card and set up direct deposit. Your card will usually arrive by mail within a week or two. Give your employer the new routing and account numbers to receive your paycheck. Some banks also offer early direct deposit.
How long does it take?
Filling out the application often takes only a few minutes. Many applications are approved right away, while others need a manual review that can take a few business days, especially if the bank cannot verify your identity automatically.
Why applications get delayed or denied
- Information that does not match your ID or public records.
- Problems verifying your identity or address.
- A negative record with a banking reporting agency such as ChexSystems. See our guide to what ChexSystems is.
- Suspected fraud or an incomplete application.
How to stay safe when opening an account online
- Type the bank’s web address yourself or use its official app. Fake bank websites can imitate real ones.
- Verify the bank in FDIC BankFind and check that its website matches the one listed there.
- Never share your password, one-time codes or full card details with anyone who contacts you.
- Use a secure private connection rather than public Wi-Fi when you enter personal information.
Frequently asked questions
Can I open a bank account online with bad credit?
Checking and savings accounts do not usually require a good credit score, but some banks review your ChexSystems report or run a soft credit check. If you have past banking problems, second-chance accounts may be an option.
Do I need a Social Security number?
Most banks ask for a Social Security number. Some accept an ITIN instead, but policies vary, so check with the bank before you apply.
Is there a minimum deposit?
It depends on the bank. Many online banks have no minimum opening deposit, but some accounts do, so check before you apply.
Is it safe to open an account online?
Yes, provided you use a legitimate, insured bank and follow basic security practices. Confirm the bank in FDIC BankFind, use its official app and protect your login details. For more on safety, read How Safe Are Neobanks?.