Finder is committed to editorial independence. While we receive compensation when you click links to partners, they do not influence our opinions or reviews. Learn how we make money.

How to open a bank account online

Skip waiting at the bank branch.

Updated

Opening a bank account online usually takes about 10 minutes — much faster than visiting your bank branch. In today’s fast-paced world, this type of convenience is priceless. Here’s a rundown of what to expect when you open a bank account online.

Steps to open a bank account online

Follow these steps to open a bank account online.

Back to top

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.

What to watch out for when opening up a bank account online

You may have to visit a local branch to open a bank account if you run into any of these challenges.

  • No credit. Most banks verify your identity by doing a soft pull on your credit. If you haven’t built any credit yet, you may need to visit a local branch to verify your identity and complete your application process.
  • Chexsystems report. If you have a negative banking history because you’ve previously bounced checks or had insufficient funds, your application may be denied when you open an account online. But visiting a local branch could increase your chances of getting an approval.
  • A minor. Anyone under age 18 can’t open a bank account without a parent or legal guardian co-signing on the account. Most banks require you to visit a local branch to set up this type of account.
  • Non-US citizen. Nonresidents can still open accounts at some banks in the US, but there are extra hurdles to jump through. You may be required to bring your passport as well as your green card, work visa or student ID to a local branch to verify your identity and complete the application process.

Compare online bank accounts

$
$
months
Name Product Interest rates (APY) Fee Minimum deposit to open Interest earned More info
American Express® Personal Savings High Yield Savings
1.00%
$0
$0
Go to site
View details
Enjoy no monthly fees and a competitive APY with this online-only savings account. Accounts offered by American Express National Bank, Member FDIC.
CIT Bank Savings Builder High Yield Savings Account

0.95% on balances of $25,000+ or set up a direct deposit of $100+ each month
0.79% on balances of $0 to $24,999
$0
$100
Go to site
View details
No account opening or maintenance fees. Daily compounding interest. Earn one of the nation's top rates
Discover Online Savings Account
1.01%
$0
$0
Go to site
View details
Take advantage of a high-interest online savings account with no fees, no minimums and more.
Aspiration Spend & Save Account

1.00% on balances of $0 to $10,000 but you’ll need to be enrolled in Aspiration Plus and make at least $1,000 in debit card purchases a month
$0
$10
Go to site
View details
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.
loading

Compare up to 4 providers

Name Product Minimum deposit to open ATMs Out-of-network ATM fee
HSBC Premier Checking
$1
Free to use at all ATMs in the US
$0
Get up to $700 (max. $120 per month) for eligible new customers who open an HSBC Premier checking account. Conditions apply. Deposit products are offered in the US by HSBC Bank USA, N.A. Member FDIC.
Chase Total Checking
$0
Access to 16,000 ATMs and nearly 4,900 branches nationwide
$2.50
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 4,900 branches. Available online nationwide except in Alaska, Hawaii and Puerto Rico.
Chase Premier Plus Checking
$0
Access to 16,000 ATMs and nearly 4,900 branches nationwide
$2.50
Get a $300 signup bonus as a new Chase checking customer when you open a Chase Premier Plus Checking account and set up direct deposit. Available online nationwide except in Alaska, Hawaii and Puerto Rico.
TD Beyond Checking
$0
1,900 ATMs across the country and Canada
$0
A checking account that offers interest plus three ways to waive the monthly fee, two overdraft paybacks a year and no ATM fees with a $2,500 balance.
loading

Compare up to 4 providers

Name Product 1-year APY 18-month APY 2-year APY 3-year APY 5-year APY
CIT Bank Term CDs
0.75%
0.75%
1%
1%
1.05%
Radius Bank CDs
0.5%
0.5%
0.5%
0.5%
0.5%
BBVA CD
0.4%
0.45%
0.4%
Discover CDs
0.9%
0.9%
1.01%
1.05%
1.15%
loading

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

Image source: Getty Images

Ask an Expert

You are about to post a question on finder.com:

  • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
  • finder.com is a financial comparison and information service, not a bank or product provider
  • We cannot provide you with personal advice or recommendations
  • Your answer might already be waiting – check previous questions below to see if yours has already been asked

Finder.com provides guides and information on a range of products and services. Because our content is not financial advice, we suggest talking with a professional before you make any decision.

By submitting your comment or question, you agree to our Privacy and Cookies Policy and finder.com Terms of Use.

Questions and responses on finder.com are not provided, paid for or otherwise endorsed by any bank or brand. These banks and brands are not responsible for ensuring that comments are answered or accurate.
Go to site