How to Open a Checking Account

You can save time by gathering these essential documents before heading out—or hopping online—to open a checking account:

• Government-Issued Photo ID
  A driver's license, state ID, U.S. passport, or military ID typically works.

• Social Security Number (SSN) or Equivalent
  U.S. citizens use an SSN, while non-citizens (including international students) may be able to use an Individual Taxpayer Identification Number (ITIN).

• Proof of Address
  A utility bill, lease, or mortgage statement usually does the trick.

• Opening Deposit
  Some accounts that earn interest on deposits may require a $1-$500 deposit to open.¹ Others might not have a deposit requirement.

• Personal Details
  Be ready to provide your date of birth, phone number, email, and sometimes employment info.

The process varies slightly by bank, but here's the standard playbook.

1. Shopping Around Like You Mean It
   Not all checking accounts are created equal, and you can compare features before committing to one:
   • Minimum Balance Requirements
     You can find banks that don’t require them, even when they earn interest.
   • Monthly Maintenance or Overdraft Fees
     Overdrafts occur when your account doesn't have enough funds to cover a transaction that still goes through, sometimes resulting in your bank charging a fee. Maintenance fees, on the other hand, can often be waived if you keep a specific minimum balance. True no-fee checking accounts do exist, as well. Many banks now offer them with no minimum balance or maintenance fees.
   • ATM Network Size
     Smaller ATM networks may mean more out-of-network fees, although some banks may waive them at the end of each month.
   • Mobile App Quality
     Some of the best accounts offer seamless banking apps that make managing and enjoying your account simple and fast.
   • Whether It Earns Interest
     While interest-bearing accounts may be costlier to manage, they can help your money work harder for you in the background.


2. Gathering Your Docs
   See the checklist above. Snap photos of your ID and proof of address with your phone—many online applications let you upload them right from there.


3. Submitting Online or Applying in Person
   Before signing, it’s smart to review the account agreement for all information on fees, wire transfer costs, and other account requirements. Don’t feel shy about asking questions, either: A knowledgeable banker should be able to answer them clearly.
   
   Once you’re all up to date, you can open a checking account in person or online. Most banks let you apply in minutes from your phone or laptop. You'll fill in your personal details, upload documents, and verify your identity (sometimes via a quick video or security questions).

4. Getting Started
   Once approved, you'll typically need to deposit money, often via cash or check deposit, an electronic transfer from another account, or through setting up direct deposit with your employer. If there's a minimum deposit, you may want to reach it within the bank's specified time window—otherwise, your account could close before it really gets going.


5. Going Digital
   With your account up and running, you can download your bank’s mobile app and manage your money right from your device. You can also opt into receiving electronic alerts, updates, letters, and other bank correspondence to streamline communication.

Once your account is live, these moves can help you squeeze more value out of it.

1. Taking Advantage of Sign-Up Bonuses
   Plenty of banks offer cash bonuses of $100 or more for opening a new checking account and meeting requirements, like setting up direct deposit or depositing a certain amount of cash.³


2. Automating Whatever You Can
   You can set up direct deposit so your paycheck is deposited into your account automatically. Other options include scheduling auto-transfers to your savings account on every payday—an effective saving approach that can help you put money away with minimal effort.


3. Stacking Multiple Accounts Strategically
   You can absolutely have more than one checking account. Some people may have one just for bills and fixed expenses, while others may have one for dining out or shopping. Keeping separate accounts for certain transactions may make monthly budgeting feel more organized.


4. Enabling Alerts
   Low-balance alerts, large-transaction alerts, login alerts: intuitive banking apps often let you switch them all on. They're typically fast and free—or included in your maintenance fees—and they can be a first line of defense against fraud. Your bank may even have identity theft monitoring services you can use.


5. Keeping a Balance Buffer
   Just to be on the safe side, you can aim to keep one to two months of expenses parked in your checking account at all times, to cover unexpected expenses without putting you into overdraft territory.