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How to Open a Bank Account Online in 4 Steps
Have your contact information and proof of identity ready and be prepared to fund your new account.
Spencer Tierney is a consumer banking writer at NerdWallet. He has covered personal finance since 2013, with a focus on certificates of deposit and other banking-related topics. His work has been featured by The Washington Post, USA Today, The Associated Press and the Los Angeles Times, among others. He is based in Berkeley, California.
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Ruth Sarreal is a content management specialist covering consumer banking topics at NerdWallet. She has over a decade of experience writing and editing for consumer websites. She previously edited content on personal finance topics at GOBankingRates. Her work has been featured by Nasdaq, MSN, TheStreet and Yahoo Finance.
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Opening a bank account online can be quick and easy. It can take just minutes and save you a trip to a branch. And if you’re opening an account at an online bank or credit union, it may be your only option. The top online banks are insured by the Federal Deposit Insurance Corp. (and the top credit unions are insured by the National Credit Union Administration), offer higher rates than typical brick-and-mortar banks and often charge low or no fees.
Here’s how to open a bank account online in a few steps:
Choose the type of account you want.
Collect your personal documents and information in advance.
Fill out the application with your personal details.
Fund your new account.
1. Choose the type of account you want
Before you start the application, you have two key decisions to make:
Do you want to open a checking, savings or other bank account? Determine this new account’s primary purpose. If you need the money to pay regular expenses, consider opening a checking account and make sure it doesn’t charge too many fees (or that you can get them waived). If the money will be set aside for savings, make sure the account earns a good interest rate. Carefully consider how you’ll be using this new account in order to weigh your options.
Do you want to open a single or joint bank account? With a single account, you’re the sole owner. A joint account is one you co-own with another person, generally a family member or significant other.
If the financial institution offers multiple savings or checking accounts, compare them to see which terms and features work best for you.
Also confirm that the account will be FDIC insured, which means the Federal Deposit Insurance Corp. protects your money in case the bank fails. To find out whether your deposits are federally insured, search for your bank on the FDIC’s BankFind tool. You can also look for the FDIC insurance logo on the bank site. (Check the FDIC site to see how the official logo should appear.)
»Want to compare accounts? Look at two online options with Varo vs Chime
Accounts at credit unions have equivalent protection from a separate government agency, the NCUA. You can find out if a credit union is protected by searching for it in the NCUA’s credit union locator.
Valid driver’s license or other government-issued ID.
If your new account requires an initial deposit, you'll also need debit card information, or routing and account numbers, for another bank account you own. You can find these numbers on a check or by logging into your existing account’s online dashboard.
3. Fill out the application with your personal information
To open a bank account online, you’ll need to provide some information about yourself. Using a secure home internet connection or another trustworthy network, fill out the application with your personal details, which will likely include:
Information from the items you previously gathered, including Social Security number, ID and debit card or bank account information.
Name.
Date of birth.
Address.
Contact information.
While in most situations you can send this information online, there may be some cases where you are asked to fax or email additional documents — such as a copy of your driver’s license — to help verify your identity. Some banks might require that you come into a branch to provide these documents if you’ve had a history of checking account issues or a limited work or credit history, for example.
You might also have to sign and mail in a signature card or form so your bank can verify your signature or so you can agree to receive statements and other messages online. If you’re not a legal adult, you’ll need a parent co-signer’s information as well, and you may need to visit a branch to complete your application. (If you’re an adult looking to open an account for a child, find out what you need to know about kids savings accounts).
4.20%SoFi members with direct deposit can earn up to 4.20% annual percentage yield (APY) on savings balances (including Vaults) and 1.20% APY on checking balances. There is no minimum direct deposit amount required to qualify for the 4.20% APY for savings. Members without direct deposit will earn 1.20% APY on all account balances in checking and savings (including Vaults). Interest rates are variable and subject to change at any time. These rates are current as of 04/24/2023. Additional information can be found at http://www.sofi.com/legal/banking-rate-sheet
4.75%Annual Percentage Yield (APY) is accurate as of 05/09/2023. APY is variable and subject to change at any time without notice. No monthly service charge. No minimum balance requirement. Must fund with 15 days of opening account.
These cash accounts combine services and features similar to checking, savings and/or investment accounts in one product. Cash management accounts are typically offered by non-bank financial institutions.
These cash accounts combine services and features similar to checking, savings and/or investment accounts in one product. Cash management accounts are typically offered by non-bank financial institutions.
4.50%Annual percentage yield (variable) is as of 5/8/23. 5.00% APY with a $75K deposit or 4.75% APY with a $25K deposit. New customers only with qualifying deposit. Terms apply.
Min. balance for APY
$0
CDs (certificates of deposit) are a type of savings account with a fixed rate and term, and usually have higher interest rates than regular savings accounts.
CDs (certificates of deposit) are a type of savings account with a fixed rate and term, and usually have higher interest rates than regular savings accounts.
3.30%Your annual percentage yield can be as high as 3.30% based on the following combined rate rewards: direct deposits (not including intra-bank transfers from another account) totaling $1,500 or more each month will earn 0.40%. A qualifying direct deposit is required for the remaining interest rate qualifications to apply. Ten (10) point-of-sale transactions per month using your Rewards Checking Visa® Debit Card for normal everyday purchases with a minimum of $3 per transaction, or enrolling in Account Aggregation/Personal Finance Manager (PFM) will earn 0.30%; maintaining an average daily balance of at least $2,500 per month in an Axos Self Directed Trading Invest account will earn 1.00%; maintaining an average daily balance of at least $2,500 a month in an Axos Managed Portfolio Invest account will earn 1.00%; and making a monthly payment to an open Axos Bank consumer loan (commercial and business loans excluded) via transfer from your Rewards Checking account will earn a maximum of 0.60%.
Monthly fee
$0
Money market accounts pay rates similar to savings accounts and have some checking features.
Money market accounts pay rates similar to savings accounts and have some checking features.
When you open an account online, you’ll need to make an initial deposit. This usually means making a transfer from an existing account. If your bank is all online, you may also be able to fund with a check or money order. And if your bank has local branches, you can also visit one to deposit cash.
Once you enter the details for the transfer, choose an amount that satisfies any minimum balance or starting deposit requirement. The funds generally take a few days to process, and then you can start managing your new account.
You can open a bank account online with online banks as well as with national, brick-and-mortar financial institutions. Some regional credit unions and banks also allow you to open an account online.
Can I open a bank account without going into the bank?
Yes, you can open a bank account completely online, without ever going into a bank branch. With a completely online bank or account, you can also do all your account management online.
Can I open a checking account online instantly?
You can open a checking account online in just a few minutes with an online bank or credit union, or traditional banks and credit unions that offer online banking and checking accounts. Wells Fargo, Bank of America, U.S. Bank and most other big banks offer the ability to open accounts on their websites. Some of the top online banks and credit unions — including Alliant Credit Union, Ally Bank, Discover Bank and SoFi — make it possible to open checking accounts online in just a few minutes.
Can I open a bank account online with no deposit?
Yes, you can open a bank account online without immediately making a deposit. Some banks don’t have any minimum opening deposit requirement. However, if you don’t make a deposit within a certain amount of time, the bank may close the account.
Can I open a Chase bank account online? Can I open a Bank of America account online?
Yes, you can open a Chase bank account and a Bank of America account online. Other national banks, including PNC, U.S. Bank and Wells Fargo, also offer the option to open bank accounts online.
What is the easiest bank account to open online?
Any bank account can be easy to open online as long as you have all the necessary materials and the bank or credit union offers online banking or a mobile app. Oftentimes online accounts can be opened in just a few minutes.
with online banks as well as with national, brick-and-mortar financial institutions. Some regional credit unions and banks also allow you to open an account online.
Can I open a bank account without going into the bank?
Yes, you can open a bank account completely online, without ever going into a bank branch. With a completely online bank or account, you can also do all your account management online.
Can I open a checking account online instantly?
You can open a checking account online in just a few minutes with an online bank or credit union, or traditional banks and credit unions that offer online banking and checking accounts. Wells Fargo, Bank of America, U.S. Bank and most other big banks offer the ability to open accounts on their websites. Some of the top online banks and credit unions — including Alliant Credit Union, Ally Bank, Discover Bank and SoFi — make it possible to open checking accounts online in just a few minutes.
Can I open a bank account online with no deposit?
Yes, you can open a bank account online without immediately making a deposit. Some banks don’t have any minimum opening deposit requirement. However, if you don’t make a deposit within a certain amount of time, the bank may close the account.
Can I open a Chase bank account online? Can I open a Bank of America account online?
Yes, you can open a Chase bank account and a Bank of America account online. Other national banks, including PNC, U.S. Bank and Wells Fargo, also offer the option to open bank accounts online.
What is the easiest bank account to open online?
Any bank account can be easy to open online as long as you have all the necessary materials and the bank or credit union offers online banking or a mobile app. Oftentimes online accounts can be opened in just a few minutes.
