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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
2.30%
$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.
2.10%
$0
$0
Enjoy no monthly fees and a competitive APY with this online-only savings account.
Betterment Everyday Savings
Betterment Everyday Savings
2.44%
$0
$10
At a 2.44% APY if you join the waitlist for Betterment Everyday Checking or 2.19% if you don't, this is a high-interest FDIC-insured savings account seamlessly tied into Betterment's investment robo-advisor.
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.
2.25%
$0
$100
With an APY of up to 2.25%, it's UFB Direct's highest-yielding savings account.
2.00%
$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.

Compare up to 4 providers

Name Product APY ATMs Fee
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.
1.25% on balances of $0+ with $1,000+ in direct deposits, 10 $3+ debit card transactions and 5 additional account transactions per month
ATM fees reimbursed at any ATM nationwide
$0
Earn up to 1.25% APY while enjoying a suite of digital tools for smarter money management.
Free at over 56,000 ATMs around the world
$0
A full-service account with convenient, surcharge-free access to two massive ATM networks.
0.01% on balances of $5+
Surcharge-free HSBC ATMs nationally and internationally, plus up to four rebates a month for using non-HSBC ATMs in all US states except New York
$25/month
(can be waived)
Get $350 by funding and maintaining your new account with at least $5,000 in combined checking and savings for 90 days and setting up recurring third-party direct deposits for 3 consecutive months. Offer expires December 31, 2019.
2.00% on balances of $10,000+ or deposit $1+ each calendar month into any Aspiration cash management or investment account
Free to use anywhere worldwide
$0
A spend and save combo account with no monthly service fees, free access to every ATM in the world, unlimited cash back rewards and deposits insured by the FDIC. The Aspiration Spend & Save Account is a cash management account offering of Aspiration Financial, LLC, an SEC-registered broker-dealer. Aspiration is not a chartered bank.
0.01%
Free to use anywhere worldwide
$25/month
(can be waived)
Get a $750 welcome bonus when you join Sapphire Banking by September 28, 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.

Compare up to 4 providers

Name Product 1-year APY 18-month APY 2-year APY 3-year APY 5-year APY
2.2%
2.5%
1.4%
1.3%
1.7%
2%
1.9%
1.9%
0.55%
2.15%
2.3%
2.45%
2.55%
2.45%
2.45%
2.5%
2.55%
2.75%
2.5%
2.55%
2.6%
2.65%
2.85%
2.8%
2.7%
2.8%
2.9%
3%

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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