To open any type of bank account, you'll need to provide basic information about yourself and in some cases an initial deposit. You also may need a few extra documents if you're opening a teen checking account or student bank account.
Who can open a bank account?
You generally must be 18 to open a bank account in the U.S., although you can open one if a parent or guardian co-owns the account.
Some institutions will turn you away if you have a criminal record or aren't a U.S. citizen, and others may reject you if you have a history of overdrafts or other negative activity with your previous bank.
Not all banks have the same eligibility requirements. If you find out you can't open an account with one bank, don't give up — keep looking.
If you do not have a Social Security number or U.S. ID to open a bank account, there are banks that permit immigrants and non-U.S. citizens to open an account. You may find an option near where you live.
If you've struggled to open a bank account due to a negative banking history, the best second chance checking accounts may be worth exploring.
Second chance banking does not use ChexSystems to review your banking history. Hence, you open a second chance bank account regardless of what your banking history looks like.
Basic requirements for opening a bank account
Having the following documents ready can help you prepare for bank account opening.
A government-issued ID
You'll need a driver's license, passport, or military ID to open an account.
If you don't have any of these documents and aren't ready to take a driving test, visit the Department of Motor Vehicles (DMV) to get a state-issued ID. It's similar to a driver's license card, except it doesn't authorize you to drive — it's just a tool for identifying yourself.
Social Security number (SSN) or Individual Tax Identification Number (ITIN)
If you're a U.S. citizen, bring your Social Security card to the bank or have it handy if you're applying online. If you're a non-U.S. citizen, bring proof of your ITIN.
If you don't have either, you can either order a replacement SSN card or apply for an ITIN online.
Proof of address
Bring a recent piece of mail with you that contains your home address, such as a utility bill or a bank statement from your current financial institution.
Opening deposit
Not all banks require an initial deposit to open an account, but some may ask for a deposit ranging from $5 to $100.
Be ready with cash or a check to make the deposit. You can also transfer money from another bank to your new account, but the other bank may charge a common bank fee for this activity.
Electronic document consent
During the account opening process, some banks will ask you to consent to receiving electronic statements instead of mailed paper statements. You may avoid a nominal monthly fee if you agree to receiving e-statements.
If you change your mind later, you can change your statement delivery method in the settings of your online account.
Additional requirements if you're under 18, a student, or opening a joint account
A parent or guardian if you're under age 18
You must be at least 18 years old to open a bank account on your own. You can open a bank account for a minor, but you must bring a parent or guardian with the necessary documentation to open the account with you.
Proof of enrollment if you're a student
Student bank accounts often come with extra perks, such as cash bonuses or waived monthly fees. You should bring proof of enrollment, like a school transcript, and your student ID.
Information for both people if you're opening a joint account
If you're opening a joint bank account, you'll need all the necessary documentation for both people.
Opening an account online vs. in-person
Opening an account online is pretty similar to doing it in person — you just don't have to make the trip. Many banks and credit unions may even allow you to do it through a mobile app.
You'll still need all the same documentation to apply for a new bank account. An online application will likely have a way for you to scan or submit pictures of necessary documents.
You can't make your opening deposit in cash, however, so the easiest way is to transfer money from another bank account.
If you are missing any of the documents needed to apply online, want to deposit cash or a check into the account, or you have banking questions, an in-person visit may be better.
Open a new account online
no monthly service fee
None
$0
Pros
Cons
- Earn 1% cash back on up on up to $3,000 per month in eligible debit card purchases (See website for details)
- 100% US-based customer service available 24/7
- No opening deposit or minimum account balance
- No monthly maintenance fees
- Over 60,000 in-network ATMs
- FDIC insured
no monthly service fee
up to 3.10%
$0
Earn up to 4.00% Annual Percentage Yield (APY) on one SoFi Savings account with a +0.90% Boost on Savings APY to up to 4.00% for up to 6 months on new accounts. Terms apply.⁸ Open your first SoFi Checking and Savings account and receive eligible direct deposits OR qualifying deposits of $5,000 every 31 days by 12/31/26. Rates are variable, subject to change. Terms apply at sofi.com/banking#2. SoFi Bank, N.A. Member FDIC.26. Rates are variable, subject to change. Terms apply at sofi.com/banking#2. SoFi Bank, N.A. Member FDIC.
Pros
Cons
SoFi Checking and Savings is a great account option if you don't mind keeping your savings and checking in one account.
SoFi® Checking and Savings (Member FDIC)- New and existing Checking and Savings members who have not previously enrolled in Direct Deposit with SoFi are eligible to earn a cash bonus of either $50 (with at least $1,000 total Eligible Direct Deposits received within 25 calendar days of your first Eligible Direct Deposit of $1 or more) OR $400 (with at least $5,000 total Eligible Direct Deposits received within 25 calendar days of your first Eligible Direct Deposit of $1 or more). Cash bonus amount will be based on the total amount of Eligible Direct Deposit received within 25 calendar days of your first Eligible Direct Deposit of $1 or more.. If you have satisfied the Eligible Direct Deposit requirements but have not received a cash bonus in your Checking account, please contact us at 855-456-7634 with the details of your Eligible Direct Deposit. Direct Deposit Promotion begins on 5/15/2026 and will be available through 12/31/2026. See full bonus and annual percentage yield (APY) terms at sofi.com/banking/checking-offer/.
- These rates are current as of 5/28/26. There is no minimum balance requirement. Fees may reduce earnings. Additional information can be found at http://www.sofi.com/legal/banking-rate-sheet.
no monthly service fee
None
$0
Pros
Cons
Chime has one of the best checking accounts out there, but it doesn't offer joint accounts or pay the best savings rate. Its strongest feature is that it's great for people who might not qualify to open accounts elsewhere — it doesn't check your credit score or banking history when you apply for a checking account, savings account, or credit card. It also provides several credit-building tools.
Chime Checking Account- Get paid up to 2 days early with direct deposits
- 50,000+ fee-free ATMs nationwide through MoneyPass® and Visa® Plus Alliance
- Free cash deposits at Walgreens; May deposit cash at other select retail locations but you may be charged a fee
- Rounds debit card purchases up to the nearest dollar and moves spare change into your Chime Savings Account
- Qualify for SpotMe® overdraft protection by receiving $200 in direct deposits per month
- Chime is a financial technology company, not a bank. Banking services provided by, and debit card issued by, The Bancorp Bank or Stride Bank, N.A.; Members FDIC.
FAQs
Can I open a bank account without a Social Security number?
Yes, you can open a bank account without a Social Security number if you use an Individual Taxpayer Identification Number (ITIN). Some banks may permit other forms of identification, like a Matricula Consular.
What forms of identification are acceptable for opening a bank account?
Common documentation for a bank account opening includes a driver's license, passport, military ID, or state-issued identification card.
Is a minimum deposit always required to open a bank account?
You don't always need a minimum deposit to open a bank account. But some premium bank accounts require minimum opening deposits as high as $100.
Can I open a bank account online if I'm not a U.S. resident?
Certain banks allow non-U.S. residents to open accounts online but may require additional documentation.
What should I consider when choosing between opening an account online or in-person?
Filling out an online application can save you a trip to a physical bank branch. However, if you are missing any of the necessary documents to apply online or you have banking questions, an in-person visit may be worth it.
Editorial Note: Any opinions, analyses, reviews, or recommendations expressed in this article are the author’s alone, and have not been reviewed, approved, or otherwise endorsed by any card issuer. Read our editorial standards.
Please note: While the offers mentioned above are accurate at the time of publication, they're subject to change at any time and may have changed, or may no longer be available.
**Enrollment required.
Chime® Disclosures:
Chime is a financial technology company, not a bank. Banking services provided by The Bancorp Bank, N.A. or Stride Bank, N.A., Members FDIC.
Out-of-network ATM withdrawal fees may apply except at MoneyPass ATMs in a 7-Eleven, or any Allpoint or Visa Plus Alliance ATM.
Early Pay: Early access to direct deposit funds depends on the timing of the submission of the payment file from the payer. We generally make these funds available on the day the payment file is received, which may be up to 2 days earlier than the scheduled payment date.
The Annual Percentage Yield ("APY") for the Chime Savings Account is variable and may change at any time. The disclosed APY is effective as of September 20, 2023. No minimum balance required. Must have $0.01 in savings to earn interest.
Round Up: Round Ups automatically round up debit card purchases to the nearest dollar and transfer the round up from your Chime Checking Account to your savings account.
SpotMe® on Debit is an optional, no fee overdraft service attached to your Chime Checking Account. To qualify for the SpotMe on Debit service, you must receive $200 or more in qualifying direct deposits to your Chime Checking Account each month and have activated your physical Chime Visa® Debit Card or secured Chime Credit Builder Visa® Credit Card. Qualifying members will be allowed to overdraw their Chime Checking Account for up to $20 on debit card purchases and cash withdrawals initially but may later be eligible for a higher limit of up to $200 or more based on Chime Account history, direct deposit frequency and amount, spending activity and other risk-based factors. The SpotMe on Debit limit will be displayed within the Chime mobile app and is subject to change at any time, at Chime's sole discretion. Although Chime does not charge any overdraft fees for SpotMe on Debit, there may be out-of-network or third-party fees associated with ATM transactions. SpotMe on Debit will not cover any non-debit card transactions, including ACH transfers, Pay Anyone transfers, or Chime Checkbook transactions. SpotMe on Debit Terms and Conditions.
Money added to Credit Builder will be held in a secured account as collateral for your Credit Builder Visa card, which means you can spend up to this amount on your card. This is money you can use to pay off your charges at the end of every month.
The secured Chime Credit Builder Visa® Credit Card is issued by The Bancorp Bank, N.A. or Stride Bank, N.A., Members FDIC, pursuant to a license from Visa U.S.A. Inc. and may be used everywhere Visa credit cards are accepted. Please see the back of your card for its issuing bank.
On-time payment history may have a positive impact on your credit score. Late payment may negatively impact your credit score. Chime will report your activities to Transunion®, Experian®, and Equifax®. Impact on your credit may vary, as Credit scores are independently determined by credit bureaus based on a number of factors including the financial decisions you make with other financial services organizations.
Qualifying Direct Deposit: The qualifying direct deposit must be from your employer, payroll provider, gig economy payer, or benefits payer by Automated Clearing House (ACH) deposit OR Original Credit Transaction (OCT). Bank ACH transfers, Pay Anyone transfers, verification or trial deposits from financial institutions, peer to peer transfers from services such as PayPal, Cash App, or Venmo, mobile check deposits, cash loads or deposits, one-time direct deposits, such as tax refunds and other similar transactions, and any deposit to which Chime deems to not be a qualifying direct deposit are not qualifying direct deposits.
Save When You Get Paid: Save When I Get Paid automatically transfers 10% of your direct deposits of $500 or more from your Checking Account into your savings account.
Once the retailer accepts your cash, the funds will be transferred to your selected Chime Account. Barcode and debit card cash deposits land in the Checking Account. Credit Builder card cash deposits first go through your Card Account and then land in your Secured Account. Cash deposit fees may apply if using a retailer other than Walgreens and Duane Reade.
Tax e-file services provided by April Tax Solutions Inc. ("april") or Column Tax, Inc. ("Column Tax"). These tax filing offers are not endorsed or offered by our partners, The Bancorp Bank, N.A. or Stride Bank, N.A.
Maximum refund guarantee is provided by april or Column Tax. If you use april's service to prepare and file your return and you find an error in the tax preparation that entitles you to a larger refund (or smaller liability), you may use their service to amend that return at no additional charge. To qualify, the larger refund or smaller tax liability must not be due to differences or inaccuracies in data supplied by you, your choice not to claim a deduction or credit, positions taken on your return that are contrary to law, or changes in federal or state tax laws. See here for details. If you use Column Tax's service, Column Tax will reimburse you for up to $250 if you are able to pay less federal or state income tax or receive a larger federal or state income tax return by using another tax return preparation provider. Eligibility requirements apply. See terms for details.
If the april tax preparation software makes a mathematical error that results in your payment of a penalty and/or interest to the IRS that you would otherwise not have been required to pay, april will reimburse you up to a maximum of $10,000. See april terms for details. If interest and/or a penalty is imposed by the IRS as a result of a computational error by Column Tax, you may be entitled to up to $10,000 reimbursement by Column Tax. See Column Tax terms for details.
There are no fees required to use this product. Chime does not require you to deposit your refund into your Chime Account to qualify for free tax filing. Certain costs may be incurred if you decide to obtain other optional financial products offered in relation to your tax filing. The Internal Revenue Service (IRS) may impose penalties or other charges depending on your personal tax situation. If the april tax preparation software makes a mathematical error that results in your payment of a penalty and/or interest to the IRS that you would otherwise not have been required to pay, april will reimburse you up to a maximum of $10,000. See april terms for details. If interest and/or a penalty is imposed by the IRS as a result of a computational error by Column Tax, you may be entitled to up to $10,000 reimbursement by Column Tax. See Column Tax terms for details.
Chime does not guarantee timing of refund. Six day refund estimate is based on 2023 tax year filing data. Refund timing estimates are dependent upon timing of complete tax return submission and when the IRS submits your refund.
1. Up to $400 Bonus Tiered Disclosure New and existing Checking and Savings members who have not previously enrolled in Direct Deposit with SoFi are eligible to earn a cash bonus of either $50 (with at least $1,000 total Eligible Direct Deposits received within 25 calendar days of your first Eligible Direct Deposit of $1 or more) OR $400 (with at least $5,000 total Eligible Direct Deposits received within 25 calendar days of your first Eligible Direct Deposit of $1 or more). Cash bonus amount will be based on the total amount of Eligible Direct Deposit received within 25 calendar days of your first Eligible Direct Deposit of $1 or more. If you have satisfied the Eligible Direct Deposit requirements but have not received a cash bonus in your Checking account, please contact us at 855-456-7634 with the details of your Eligible Direct Deposit. Direct Deposit Promotion begins on 5/15/2026 and will be available through 12/31/26. See full bonus and annual percentage yield (APY) terms at sofi.com/banking/checking-offer/
2. APY disclosures 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
3. Fee Policy We do not charge any account, service, or maintenance fees for SoFi Checking and Savings. We do charge transaction fees for outgoing wire transfers, Instant Transfers, and global remittance transfers. Our fee policy is subject to change at any time. See the SoFi Bank Fee Sheet for details at sofi.com/legal/banking-fees/.
4. Additional FDIC Insurance (must be bolded) SoFi Bank is a member FDIC and does not provide more than $250,000 of FDIC insurance per depositor per legal category of account ownership, as described in the FDIC's regulations. Any additional FDIC insurance is provided by the SoFi Insured Deposit Program. Deposits may be insured up to $3M through participation in the program. See full terms at SoFi.com/banking/fdic/sidpterms. See list of participating banks at SoFi.com/banking/fdic/participatingbanks.
5. ATM Access We've partnered with Allpoint to provide you with ATM access at any of the 55,000+ ATMs within the Allpoint network. You will not be charged a fee when using an in-network ATM, however, third-party fees may be incurred when using out-of-network ATMs. SoFi's ATM policies are subject to change at our discretion at any time. 6. Early Access to Direct Deposit Funds 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.
7. Overdraft Coverage Overdraft Coverage is a feature automatically offered to SoFi Checking and Savings account holders who receive at least $1,000 or more in Eligible Direct Deposits within a rolling 31 calendar day period on a recurring basis. Eligible Direct Deposit is defined on the SoFi Bank Rate Sheet, available at https://www.sofi.com/legal/banking-rate-sheet. Members enrolled in Overdraft Coverage may be covered for up to $50 in negative balances on SoFi Bank debit card purchases only. Overdraft Coverage does not apply to P2P transfers, bill payments, checks, or other non- debit card transactions. Members with a prior history of unpaid negative balances are not eligible for Overdraft Coverage. Eligibility for Overdraft Coverage is determined by SoFi Bank in its sole discretion. Members can check their enrollment status, if eligible, at any time by logging into their account through the SoFi app or on the SoFi website.
8. 0.90% Savings APY Boost Earn up to 4.00% Annual Percentage Yield (APY) on one SoFi Savings account with a 0.90% APY Boost (added to the 3.10% APY as of 5/28/26) for up to 6 months. Open your first SoFi Checking and Savings account and receive eligible direct deposits OR qualifying deposits of $5,000 every 31 days by 12/31/26. Rates are variable, subject to change. Terms apply at sofi.com/banking#4. SoFi Bank, N.A. Member FDIC.
