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To open a bank account, you’ll typically need a government-issued photo ID, your Social Security number (SSN) or another accepted identification number, proof of residential address, and possibly an opening deposit. Requirements can vary by financial institution, account type, and whether you apply online or in person.
Below, we explain exactly what documents and information you may need, how to open a bank account step by step, and what to do after your account is approved.
Key Points
• To open a bank account, you’ll typically need personal information, a government-issued photo ID, and a Social Security number or another accepted identification number.
• Some banks may ask for proof of address, such as a utility bill, lease, mortgage document, bank statement, or other document showing your name and current address.
• You may need money for an opening deposit, though some checking and savings accounts have no minimum opening deposit.
• If you’re opening a joint account or an account for a child or teen, the bank may need identifying information for the other account owner.
• Before choosing an account, it’s wise to compare factors such as monthly fees, minimum balance requirements, ATM network access, and interest rates to ensure the account fits your needs.
Documents and Information Needed to Open a Bank Account
When you apply for a bank account, such as a checking or savings account, the bank must verify your identity. While specific requirements vary by institution, the following documents and information are commonly requested.
| What You May Need | Examples |
|---|---|
| Government-issued photo ID | Driver’s license, state-issued ID, passport, military ID, tribal ID |
| Personal information | Full name, date of birth, phone number, email address, residential address |
| Identification number | SSN or another accepted identification number, such as ITIN |
| Proof of address | Utility bill, lease agreement, mortgage statement, bank statement, credit card statement, government-issued document |
| Opening deposit (if required) | Cash, check, debit card, or ACH transfer |
| Co-owner information (if applicable) | Identification and personal information for joint account holders, parents/guardians, or minors |
A Valid Government-Issued Photo ID
You’ll generally need to provide a current, valid government-issued photo ID such as a:
• Driver’s license
• State-issued ID
• Passport
• Military ID
• Tribal ID
If you’re applying online, you may need to enter information from your ID or upload photos of the front and back. If you apply in person, you’ll typically bring the physical ID with you.
Your Social Security Number or Another Accepted Identification Number
Many banks require your SSN when you apply for a bank account. If you don’t have an SSN, some financial institutions accept another identification number, such as an Individual Taxpayer Identification Number (ITIN) or other approved documentation.
Requirements vary by bank and account type, so it’s a good idea to confirm eligibility before applying.
Proof of a Physical Address
Banks often require proof of your residential address. Documents generally must show both your name and current address.
Common examples include:
• Utility bill
• Lease agreement
• Mortgage document
• Bank statement
• Credit card statement
• Paystub
• Government document showing your name and current address
Your Contact Information
You’ll typically need to provide basic contact information, including your:
• Phone number
• Email address
• Mailing address
Banks use this information to communicate with you, deliver account materials, and verify account activity when necessary.
Funds for an Opening Deposit
Some banks require a certain minimum initial deposit to open a new account. If a deposit is required, you can usually make it using cash, a check, a debit card, or an electronic transfer from another account.
Not all accounts require an opening deposit, so be sure to review the account’s requirements beforehand.
Information for Joint Account Owners, Children, or Teens
If you’re opening a joint account, the bank will typically need identifying information for each account owner, including each person’s:
• Full name
• Date of birth
• Contact information
• Government-issued ID
• SSN (or another accepted identification number)
If you’re opening an account for a child or teen, a parent or legal guardian may need to be listed as a co-owner. The bank may require the adult to be present and provide identification and contact information. The minor may need to present identification documents such as a Social Security card, birth certificate, passport, or student ID.
Do You Need a Social Security Number to Open a Bank Account?
Not necessarily. While many banks ask for an SSN, some financial institutions may allow applicants to open accounts using another accepted identification number, such as an ITIN.
Federal customer identification rules require banks to verify a customer’s identity, but financial institutions may have different policies regarding acceptable forms of identification. If you don’t have an SSN, contact the bank before applying to learn what alternatives may be accepted.
How to Open a Bank Account in 5 Simple Steps
Once you know what you need, opening a bank account is usually a straightforward process.
Step 1: Choose the Right Bank and Account for Your Needs
Start by deciding what kind of account you want to open.
A checking account is designed for everyday spending, bill payments, debit card purchases, ATM withdrawals, and direct deposit. A savings account is intended for money you want to set aside for future goals, emergencies, or larger purchases.
Many people benefit from having both types of accounts, especially if they’re held at the same financial institution. This can make transfers easy and may provide benefits such as overdraft protection or fee waivers.
Before opening an account, it’s wise to compare offerings from different banks and credit unions, looking at fees, minimum balance requirements, ATM access, mobile banking features, and interest rates. Online-only banks generally offer lower fees and higher rates on savings accounts than traditional brick-and-mortar institutions.
Finally, make sure your chosen institution is federally insured. FDIC-insured banks and NCUA-insured credit unions protect deposits up to $250,000 per depositor, per account ownership category (such as a single, joint, or trust account), per insured institution, in case of institution failure.
Recommended: Checking vs Savings Accounts: Key Differences
Step 2: Gather Your Documents and Personal Information
Before applying, collect your identification, personal information, SSN or other identification number, proof of address (if required), and any funds needed for an opening deposit.
If you’re opening a joint account or an account for a child or teen, make sure you have all the required information for the other account holder as well.
Step 3: Complete the Application Online or in Person
Banks typically allow you to apply either online or at a branch.
The application will typically ask for your name, date of birth, address, contact information, identification number, and information from your government-issued ID. If you apply online, you may need to upload photos of your ID and verify your identity electronically.
Step 4: Fund Your New Account, If Required
Depending on the bank, your account may be approved immediately. In some cases, additional verification may be required, which can delay approval for several business days.
If the account requires an opening deposit, you’ll need to fund it before or shortly after the account is opened. Depending on the bank, you may be able to use cash, a check, a debit card, Automated Clearing House (ACH) transfer, or wire transfer.
Be sure to review both the minimum opening deposit requirement and any ongoing minimum balance requirements that may apply.
Step 5: Set Up Online Access, Direct Deposit, and Your Debit Card
Once your account is approved, it’s wise to take a few minutes to set up the tools and features that can help you manage your money more efficiently.
First, it’s a good idea to enroll in online and mobile banking if you haven’t already. This allows you to check balances, review transactions, transfer funds, deposit checks remotely, pay bills, and receive account notifications from your computer or smartphone.
If your account includes a debit card, you’ll want to activate it as soon as it arrives. You may need to create or change your PIN before using the card for purchases or ATM withdrawal.
Next, consider setting up direct deposit through your employer, government benefits provider, or other income source. Direct deposit can help ensure your money arrives quickly and may even help you qualify for fee waivers or other account perks.
You may also want to:
• Turn on account alerts for low balances, large transactions, or suspicious activity.
• Set up automatic bill payments for recurring expenses such as utilities, rent, insurance, or subscriptions.
• Link your checking and savings accounts to make transfers easier and potentially provide overdraft protection.
• Connect payment apps or digital wallets you use regularly.
• Review your overdraft settings so you understand how transactions will be handled if you don’t have enough money in your account.
Taking these steps early can help you avoid missed payments, reduce fees, and stay on top of your finances from day one.
What to Look for Before Opening a Bank Account
Not all bank accounts are created equal. To make the right choice, it’s a good idea to compare the following features and costs:
• Monthly fees: Some accounts charge monthly maintenance fees. Others waive the fee if you meet certain requirements, such as maintaining a minimum balance or receiving qualifying direct deposits.
• Minimum balance requirements: Some accounts require you to maintain a certain balance to avoid fees or keep the account open. Others have no minimum balance requirement.
• Minimum opening deposit: Some banks require money to open the account, while others allow you to open an account with no initial deposit.
• ATM Access: Consider the size of the bank’s ATM network, whether it charges out-of-network ATM fees, and whether it reimburses fees charged by other ATM operators.
• Overdraft fees and policies: Overdraft policies vary by bank. An overdraft occurs when you spend more money than is available in your account. Some banks charge overdraft fees when they cover a transaction that exceeds your balance, while others offer fee-free overdraft programs or simply decline the transaction.
• Interest rate or APY: If you’re opening a savings account or interest-bearing checking account, compare the annual percentage yield (APY). A higher APY can help your money grow faster over time.
What If You’re Denied a Bank Account?
Although many applications are approved, banks can deny account requirements in certain situations.
A bank may deny an application if it cannot verify your identity or if your banking history shows issues such as unpaid fees, repeated overdrafts, suspected fraud, or previously closed accounts.
If your application is denied, ask the bank why and whether another account type may be available. Some financial institutions offer second-chance checking accounts designed for customers who have experienced banking challenges in the past.
The Takeaway
Opening a bank account is usually a quick and straightforward process when you have the necessary information ready. Banks typically require personal information, a government-issued photo ID, a Social Security number or another accepted identification number, proof of address, and sometimes an opening deposit.
Before opening an account, compare fees, minimum balance requirements, ATM access, overdraft policies, and digital banking features. Taking time to find the right account can help you avoid unnecessary costs and make managing your money easier.
Once your account is open, you may want to set up online banking, direct deposit, account alerts, and automatic bill payments to get the most value from your new account.
Interested in opening an online bank account? When you sign up for a SoFi Checking and Savings account with eligible direct deposit, you’ll get a competitive annual percentage yield (APY), pay zero account fees, and enjoy an array of rewards, such as access to the Allpoint Network of 55,000+ fee-free ATMs globally. Qualifying accounts can even access their paycheck up to two days early.
FAQ
Can I open a bank account online?
Yes, many banks and credit unions allow eligible applicants to open a checking or savings account online. You’ll typically need the same information you would need for an in-person application, including identification, personal information, and possibly an opening deposit.
Do I need a Social Security number to open a bank account?
Many banks require a Social Security number (SSN), but some may accept another identification number, such as an individual taxpayer identification number (ITIN). Requirements vary by institution, so it’s best to verify eligibility before applying.
Can I open a bank account without a deposit?
Some banks allow you to open a checking or savings account without an opening deposit. Others may require a minimum initial deposit to activate the account. You may be able to fund the account with cash, a check, a debit card, or an electronic funds transfer from another account.
What counts as proof of address for a bank account?
Accepted documents may include utility bills, lease agreements, mortgage statements, bank statements, credit card statements, paystubs, or government-issued documents that show your name and current address.
What do I need to open a joint bank account?
You’ll generally need identifying information for each account owner, including a government-issued ID, contact information, date of birth, and a Social Security number or another accepted identification number.
Can a minor open a bank account?
Many banks require a parent or legal guardian to open a joint, custodial, teen, or student account for a minor. Requirements vary by institution and state.
Why would a bank deny my application?
A bank may deny an application if it cannot verify your identity or if your banking history shows issues such as unpaid fees, suspected fraud, repeated overdrafts, or previously closed accounts. You can ask the bank why and whether another account type, such as a second-chance checking account, may be available.
What should I do after opening a new bank account?
Smart next steps include setting up online and mobile banking, activating your debit card, enrolling in direct deposit, turning on account alerts, and updating any automatic payments or payment apps linked to your old account.
Is it better to open a checking account or savings account first?
It depends on your goals. A checking account is generally best for everyday spending, and receiving income, while a savings account is better for setting aside money for emergencies and future goals. Many people benefit from having both.
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Annual percentage yield (APY) is variable and subject to change at any time. Rates are current as of 5/28/26. There is no minimum balance requirement. Fees may reduce earnings. Additional rates and information can be found at https://www.sofi.com/legal/banking-rate-sheet
Eligible Direct Deposit means a recurring deposit of regular income to an account holder’s SoFi Checking or Savings account, including payroll, pension, or government benefit payments (e.g., Social Security), made by the account holder’s employer, payroll or benefits provider or government agency (“Eligible Direct Deposit”) via the Automated Clearing House (“ACH”) Network every 31 calendar days.
Although we do our best to recognize all Eligible Direct Deposits, a small number of employers, payroll providers, benefits providers, or government agencies do not designate payments as direct deposit. To ensure you're earning the APY for account holders with Eligible Direct Deposit, we encourage you to check your APY Details page the day after your Eligible Direct Deposit posts to your SoFi account. If your APY is not showing as the APY for account holders with Eligible Direct Deposit, contact us at 855-456-7634 with the details of your Eligible Direct Deposit. As long as SoFi Bank can validate those details, you will start earning the APY for account holders with Eligible Direct Deposit from the date you contact SoFi for the next 31 calendar days. You will also be eligible for the APY for account holders with Eligible Direct Deposit on future Eligible Direct Deposits, as long as SoFi Bank can validate them.
Deposits that are not from an employer, payroll, or benefits provider or government agency, including but not limited to check deposits, peer-to-peer transfers (e.g., transfers from PayPal, Venmo, Wise, etc.), merchant transactions (e.g., transactions from PayPal, Stripe, Square, etc.), and bank ACH funds transfers and wire transfers from external accounts, or are non-recurring in nature (e.g., IRS tax refunds), do not constitute Eligible Direct Deposit activity. There is no minimum Eligible Direct Deposit amount required to qualify for the stated interest rate. SoFi Bank shall, in its sole discretion, assess each account holder's Eligible Direct Deposit activity to determine the applicability of rates and may request additional documentation for verification of eligibility.
See additional details at https://www.sofi.com/legal/banking-rate-sheet. ^Early access to direct deposit funds is based on the timing in which we receive notice of impending payment from the Federal Reserve, which is typically up to two days before the scheduled payment date, but may vary.
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