How to open a bank account online

Skip waiting at the bank branch.

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It only takes about 10 minutes to securely open a bank account online. You’ll need personal information, a government-issued ID and an internet connection.

Steps to open a bank account online

Follow these steps to open a bank account online.

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Eligibility requirements

To open an account online, you’ll generally need to:

  • Be a US resident with a US residential address
  • Be at least 18 years old — some banks will let minors open an account with a guardian
  • Be able to provide a government-issued ID

Read up on what are the requirements to open a bank account

What do I need to open a bank account online?

Identification
Personal information
Deposit

The whole process shouldn’t take more than 10 minutes. If you’re at least 18 years old, you can apply for most accounts online. You’ll be provided with a checklist of things you should have with you before you apply. If you’re an existing customer of the bank, make sure you have your relevant customer ID or account number.

Identification

Requiring ID helps banks protect you from fraud. If someone gets ahold of your Social Security number, they could apply for an account in your name to hide illegal money — or even open a line of credit. Banks verify your ID to make sure it’s really you opening the account, and not someone trying to steal your identity.

Personal information

Most accounts allow you to apply for a joint account with one or more people. If you’re applying for a joint account, all account holders will need to provide their personal information, including Social Security number(s) and ID.

Deposit

Some institutions will let you open a bank account online with no deposit, but most times you’ll have to put a little money down. Minimum required deposits often increase with a higher interest rate or better features offered.

Benefits of opening an account online

There’s no need to visit a branch to open a bank account anymore. You can open a bank account, deposit money and set up automatic payments all from the comfort of your home. Once you’ve applied, just wait for the card to be sent you in the mail, activate the account and you’re good to go.

    • You can skip the bank queues.
    • The application forms are easy to use.
    • It usually takes less than 10 minutes.

Compare online bank accounts

Name Product Interest rate (APY) Fee Minimum deposit to open
1.90%
$0
$0
Earn 20x the national savings account average with no fees or minimums.
1.90%
$0
$0
Enjoy no monthly fees and a competitive APY with this online-only savings account.
1.90%
$15 per month
(can be waived)
$25
Earn one of the highest annual percentage yields (APYs) if you live in one of 42 eligible states, and access your money by ATM, check or bill pay.
2.10%
$0
$100
A super-high interest rate if you're in the habit of saving at least $100 per month or have $25K in the bank.
0.01%
$5 per month
(can be waived)
$0
Get a $150 bonus when you open a new Chase Savings account, deposit a total of $10,000 or more in new money within 10 business days and maintain a $10,000 balance for 90 days.
2.15%
$0
$100
Earn a competitive rate with a balance higher than $10,000.

Compare up to 4 providers

Name Product APY ATMs Fee
No ATM fees nationwide at more than 64,000 AllPoint, participating 7-Eleven and BBVA USA ATMs
$0
A full-service account with convenient, surcharge-free access to two massive ATM networks.
BBVA Premium Checking
BBVA Premium Checking
0.05%
More than 64,000 AllPoint, participating 7-Eleven and BBVA USA ATMs
$19/month
(can be waived)
A full-service interest checking account that offers automatic rebates of ATM fees.
0.01%
Free to use anywhere worldwide
$25/month
(can be waived)
Get a $1000 welcome bonus when you join Sapphire Banking by November 19, 2019. Within 45 days of joining, transfer a total of $75,000 or more in qualifying new money or securities to a combination of eligible checking, savings and/or investment accounts (excludes any J.P. Morgan retirement accounts and CDs), and maintain the balance for at least 90 days.
Access to 16,000 ATMs and nearly 5,000 branches nationwide
$12/month
(can be waived)
Get a $200 bonus when you open a new Chase Total Checking account and set up direct deposit within 60 days of opening your account. Chase's simplest checking account is easy to use and gives you access to 16,000 ATMs and nearly 5,000 branches.
0.01%
38,000 fee-free ATMs nationwide
$0
Linked checking and savings accounts from a mobile-first bank that’s light on fees.
1,000 fee-free ATMs across the country
$0
Pay a $0 monthly service charge and get free access to BBVA ATMs.

Compare up to 4 providers

Name Product 1-year APY 18-month APY 2-year APY 3-year APY 5-year APY
1.9%
1.95%
1.4%
1.3%
1.7%
1.8%
1.7%
1.7%
0.55%
1.9%
2%
2.05%
2.15%
2.25%
2.25%
2.25%
2.2%
2.2%
2.2%
2.2%
2.25%
2.25%
2.3%
2.05%
2.1%
2.15%
2.2%
2.25%

Compare up to 4 providers

Bottom line

The days of spending an hour at the bank to open an account are gone, and you can open a new checking or savings account from your computer or phone in minutes. But don’t let the speed and convenience rush you into making a decision. Compare savings accounts or checking accounts before getting started to find the one that’s right for you.

Frequently asked questions

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