What Do You Need to Open a Bank Account?

Written by Lauren Perez, CEPF®

Edited by Marie White, CEPF®

Updated on May 22, 2025, 3:09pm ET

If you’ve never opened a bank account before, you’re likely wondering what you need to open one. More specifically, you may be wondering about what kind of qualifications, information and paperwork are needed. Whether you’re opening your first bank account or switching to a new bank, these are the eligibility requirements, as well as the paperwork and information you will likely need to provide.

Banking is just one part of money management. A financial advisor can help you create a financial plan for your long-term financial needs and goals.

Are You Eligible to Open a Bank Account?

The first step is to make sure you’re eligible to open a bank account. You must be at least 18 years old to open an account, although minors can open a joint bank account with a parent or legal guardian as an account co-owner. These accounts allow both the minor and adult to manage the account together, teaching the minor about banking and money management. Be sure to check that this is an option, however, because some banks do not offer accounts for minors.

You’ll definitely want to check with your bank about its eligibility requirements. For instance, some banks may turn you away for a checking account if you have a history of overdrafts or late payments. Banks may even look into your criminal history to see if you have any financially-related crimes. You may also need to be a U.S. citizen to open a bank account with certain institutions.

If you’re applying for a credit card, the bank will also take a look at your credit history and credit score. Banks and credit unions typically look for a good credit score for approval. There are credit cards for bad credit available, but they tend to carry a higher interest rate.

What Do You Need to Open a Bank Account?

Most often, you’ll need to provide certain paperwork and personal information to open a bank account. This includes at least one form of photo ID, although some banks may require two forms of identification. These forms can be a state ID, Social Security card, passport or birth certificate.

You will need to provide personal information like your date of birth, physical address and phone number. You may need to produce proof of address, such as a utility bill in your name. Many banks do not accept P.O. boxes as a valid form of address.

Sometimes, banks will also ask for your email address. While this may not always be required, it can make managing your bank account much easier.

If you are opening an account as a joint account, the other person on the account will need to provide the same information.

What Do You Need to Open a Bank Account Online?

A man visits a bank branch to open a bank account.

Mobile banking is a popular feature available from banks today, with some banks existing entirely online. Whether you intend to open an account in person or online, the requirements are usually the same.Luckily, most banks will accept an electronic signature for your application. That way, you usually don’t have to mail in or drop off any forms. However, be sure to check with your bank as policies can vary.

If the bank account requires a minimum opening deposit, you can easily do this through an online transfer. You’ll need to provide your other account’s essential information to set up the transfer, including the routing and account numbers. You may be able to mail in a check, but this is less secure and takes more time.

Making Your First Deposit Into a Bank Account

When you open a bank account, you’ll often need to make an opening deposit. This deposit amount will vary based on the bank and account type. Many checking accounts require a minimum deposit of at least $25, while others may require a minimum deposit amount to avoid bank fees.

Many accounts do not require a minimum deposit at all, although you may be required to maintain a minimum balance to take advantage of the highest rates. Be sure to confirm these requirements with your bank before applying. If there’s an opening deposit due, you can usually use a check, debit card, credit card, money order or electronic transfer.

Which Type of Bank Account Do You Need?

Before opening a bank account, you should know which types of accounts are available and what each one is best suited for. The right account for you will depend on how you plan to use your money. Consider whether it’s for daily spending, saving for the future or helping someone new get started with banking.

These are five common account types and how they match different financial needs.

Student or teen accounts are tailored for younger users, often skipping the monthly fees and requiring a lower balance. These accounts help new account holders build good banking habits with basic features and easy access.

Checking accounts are best for managing day-to-day money needs. They are designed for everyday use, allowing you to pay bills, make purchases with a debit card and set up direct deposits like paychecks. These accounts usually come with unlimited transactions, although they may not earn interest. If you need regular access to your money, a checking account is the most practical option.

Savings accounts are useful for setting aside money for future use or emergencies. They typically earn interest, making them a better place for idle cash than a checking account. Withdrawals are limited, but funds are still easily accessible if needed. Savings accounts are a good choice for short-term goals or as a backup in case of unexpected expenses.

Money market accounts blend features of savings and checking accounts. They often provide better interest rates than basic savings accounts and may include limited transaction options, such as some check-writing or debit card privileges. These accounts usually have higher minimum balance requirements, making them more suitable for those who can keep a larger amount on deposit while still needing occasional access to their money.

Certificates of deposit (CDs) are for savers who don’t need access to their funds for a set period. In exchange for locking in your money for an extended period of time, you receive a fixed interest rate. Early withdrawals often come with penalties, so they’re best for long-term savings.

Bottom Line

A woman reviewing the bank account she's just opened.

Opening a bank account is usually an easy and fast process. This is especially true when you come prepared with all the required information and paperwork. In addition to forms of ID, Social Security and proof of address, you should check with your bank beforehand if they have any extra requirements. You can also consider working with a financial advisor, who can help you develop a long-term financial strategy moving forward.

Tips for Opening a Bank Account

A financial advisor can help you look beyond your banking needs to create a financial plan for other money management goals. SmartAsset’s free tool matches you with up to three financial advisors who serve your area, and you can interview your advisor matches at no cost to decide which one is right for you. If you’re ready to find an advisor who can help you achieve your financial goals, get started now.
Before you go to open a bank account, you’ll need to do your research. Nowadays, there are so many options out there! You’ll want to make sure you end up with the best account for you and your finances. Check for account fees and minimums, since those tend to sneak up on you. Compare and contrast your options beforehand.
It’s also important to check out the bank itself before you commit. Check out reviews on the bank and its products, especially the accounts you’re looking to open. For example, if you want to open both a checking and savings account with a bank, you could find out that they only offer checking accounts.