What Do You Need To Open A Bank Account? The Ultimate Guide

Bank accounts are vital to managing your everyday finances. 

They’re where your paychecks are deposited, your bills are debited, and your savings grows.  That’s why it’s important to know what’s needed to open a bank account. 

If you plan on opening a bank account, especially in person, make sure you know the process and have all the required documents.  There’s nothing worse than getting to the bank, waiting 20 minutes, only to find out that you didn’t bring the necessary documents to open the account. 

Or, you fail the banks qualification check. 

Sound familiar?  The bank and DMV can be two of the most frustrating places to visit. 

Well, let that happen to you no more!  I’m here to share what to expect and exactly what you’ll need to bring to open a new bank account.

Bank Account Qualification – ChexSystems

Did you know that banks run a check on every person that submits a new account application?  This qualification check takes a look at your banking history to determine how risky of a depositor you are. 

This is different from a credit check, which is used to determine risk when a bank is approving loans or credit cards. 

Your ChexSystems score will help a bank understand certain risks about you such as:

• Do you frequently bounce checks?
• Is your account frequently overdrawn?
• How often you’re opening and closing accounts
• Have you engaged in any illicit or fraudulent activity?
• Do you owe other banks money from an overdrawn account?

If you’ve had a deposit account in the past and fear you may not qualify based on the risks outlined above, you can request your ChexSystems score here. 

What Do You Need To Open A Bank Account?

Personal Account Identification

Regardless of the account type you’re opening (personal, business), every bank is going to ask for two forms of personal ID.  There’s the primary ID and secondary ID.  You have to have both or it’s game over!

Luckily, I have a list of primary and secondary IDs that should be 99% uniform across all banks. 

Important: The bank could require extra steps or identification if any ID you present was issued in the last 90 days.  This is considered a possible red flag.  OK, you’ve been warned. 

Primary Identification & Secondary Identification

• U.S. State-issued Driver’s License or State Identification Card
• Valid/unexpired U.S. Passport book or card (When the passport does not include the individual’s address, an additional piece of identification that includes the individual’s address is required.)
• Valid/unexpired Foreign Passport
• Alien Identification Card for resident aliens or non-resident aliens
• Green Card/Permanent Residence
• Mexican Consulate Identification Card (Matricula Consular) – Requires an ITIN.
• U.S. Immigration Visa
• Student Identification Card with picture – minor accounts
• Drivers Permit – for minor accounts
• A current Major Credit Card (signed)
• Unexpired Debit Card bearing the MasterCard or VISA logo (signed)
• Unexpired Nationally recognized store Credit Card (signed)
• Employee Identification Card with picture
• Voter’s Registration Card (signed)
• Firearm Owner’s Identification Card
• Military Identification Card
• Selective Services Card (signed)
• Public Assistance Card
• Utility Bills that are current and not past due
• Insurance Card with name, issue, and expiration date
• ChexSystems and/or Qualifile report retrieved during the account opening process for new accounts only

Side note: An additional piece of primary ID may be used as a form of secondary ID, as long as a Driver’s License and State Identification Card are not presented together, as they are considered to be the same piece of identification.

What Do You Need To Open An Individual Bank Account?

An individual bank account means it’s just you on the account. 

• YOU
• Primary ID
• Secondary ID
• Social Security Number
• Date of Birth
• Phone Number
• Email
• Possibly mother’s maiden name

What Do You Need To Open A Joint Bank Account?

A joint account means there are other owners on the account in addition to you.  In most cases, these accounts are shared with equal rights to the deposits, meaning you technically own 50% of the deposits and the other owner owns 50% if there are 2 signers.

Generally, you can have up to 4 joint owners on an account.  Every joint owner will be required to bring the following items.

IMPORTANT: While both owners need to be present, any joint account owner can close the account by themselves.  So, be careful who you add to a joint account, they can take all the dough you deposit!

• YOU
• Joint Owner(s)
• Primary ID
• Secondary ID
• Social Security Number
• Date of Birth
• Phone Number
• Email
• Possibly mother’s maiden name

What Do You Need To Open A Bank Account For A Minor?

A minor will be anyone under the age of 18 years old.  They will have to be accompanied by their parent or legal guardian and in most cases, that person will have to be a joint owner. 

If you’re looking to open a checking account, 13 years old is typically the youngest age allowed.  If you’re looking to open an account for a child under that age, you’ll most likely need to look into a Uniform Transfers to Minors Act (UTMA) account.  This is a type of savings account specifically for minors.

Regardless of the account type, if you’re looking to open a bank account for a minor, you’ll need the following.

• You
• Your child (if it’s a UTMA account, you do not need your child present)
• Primary ID (any primary ID on the list above including the additional options below)
  • Student Identification Card with picture – minor accounts
• Drivers Permit – for minor accounts
• Some banks may allow the child’s SSN card to act as a primary ID
• Secondary ID (It’s best to bring your child’s birth certificate if you do not have 2 of the above listed primary ID options for your child)
• Social Security Number
• Date of Birth
• Phone Number
• Email
• Possibly mother’s maiden name

What Do You Need To Open A Business Bank Account?

Now, this is where the fun starts!  Here’s a lofty list of the entity documents needed. 

IMPORTANT: Before you waste everyone’s time going to the bank, make sure you check that your business has a certificate of good standing with the state.  Each state has a link to its own site and all banks must check the certificate of good standing before opening the account. 

If it’s not in good standing, you’ll have to make sure to correct that before opening your accounts. 

Also, personal information will be needed for EVERY SIGNER. 

Sole Proprietorship – Personal And Entity Documents

• The Sole Proprietor (AKA You)
• Primary ID
• Secondary ID
• Social Security Number
• Date of Birth
• Phone Number
• Email
• Possibly mother’s maiden name
• Assumed Name Certificate (depending on the state and if you’re Doing Business As another name)

Partnership – Personal And Entity Documents

• All the Partners (you might be able to open this type of account without the other partners present – you will need to check with the bank)
• Primary ID
• Secondary ID
• Social Security Number
• Date of Birth
• Phone Number
• Email
• Possibly mother’s maiden name
• Tax ID of the Partnership (try to bring the IRS document you received with the EIN)
• Partnership agreement (not required but bring it if you have it)
• Certificate of Limited Partnership

Limited Liability Company/LLC – Personal And Entity Documents

• You (you most likely can open without the other signers present)
• Primary ID
• Secondary ID
• Social Security Number
• Date of Birth
• Phone Number
• Email
• Possibly mother’s maiden name
• Tax ID of the Limited Liability Corporation (bring the IRS filing if you have it)
• Articles of Organization (generally, as long as you’re in good standing with the state, this doesn’t have to be the certified copy)
• Assumed Name Certificate (if the business is operating with a DBA)
• Operating Agreement (banks want this to understand who has signing authority – if you don’t have it be prepared with a document, preferably on company letterhead that outlines who has signing authority for the corporation)

Corporation (S or C) – Personal and Entity Documents

• You (you most likely can open without the other signers present)
• Primary ID
• Secondary ID
• Social Security Number
• Date of Birth
• Phone Number
• Email
• Possibly mother’s maiden name
• Tax ID of Corporation (bring the IRS filing if you have it)
• Article of Incorporation (generally, as long as you’re in good standing with the state, this doesn’t have to be the certified copy)
• Assumed Name Certificate (if the business is operating with a DBA)
• Bylaws (banks want this to understand who has signing authority – if you don’t have it be prepared with a document, preferably on company letterhead that outlines who has signing authority for the corporation)

Frequently Asked Questions

I’ve been in banking for a long time. From my days in retail branches to my current role working with high net worth clients, there’s always some reoccurring questions.

Can You Open A Bank Account Online?

Yes, most banks have the option to open an account online. You’ll need to visit the bank’s website to determine if they offer this convenient option.

If you’re looking for an online bank account option that provides top market interest rates, check out our bank comparison page.

Can You Open A Bank Account Without IDs?

No. Banks are highly regulated and must check and verify every account holder’s identification.

Can You Open A Bank Account Without A Photo ID?

No. At least one photo ID will be required to open a bank account. The only caveat is for a minor that you’re open a UTMA account for.

Since you can open a UTMA account for any child under 18 years old, a photo ID isn’t required for that minor. Generally, an SSN card and birth certificate are sufficient.

How Old Do You Have To Be To Open A Bank Account?

You need to be 18 years or older to open a bank account on your own. However, you can be a joint owner on an account starting at 13 years old.

For those that are younger than 13, you’ll want to look into UTMA accounts.

Do You Need A Social Security Card To Open A Bank Account?

No. You do not need the physical SSN card to open a bank account. You will need to know your social security number, however.

Can You Open A Bank Account Without An SSN?

Yes, but each bank will have its own answer to this question.

Typically, the bank will require an ITIN along with other documents such as a foreign passport, student VISA, form 120 issued by Homeland Security, and a W-8BEN.

Do You Need IDs If You Have A Current Deposit Account At The Bank?

Yes. Unless you have a very good relationship with the banker opening your account, you will be required to bring in and present primary and secondary IDs when opening additional accounts.

How Much Money Do You Need To Open A Bank Account?

$25-$100 is usually the minimum amount required to deposit when opening a new bank account.

It’s best to check with the bank prior to opening your account to see what their initial deposit requirement is.

Can You Open An Account Over The Phone?

Usually, the answer is yes. Be prepared to provide all of your personal information including identification over the phone.

How Long Does It Take To Open An Account? 

15-30 minutes should do the trick. Word of advice, if you plan on visiting a branch, call and schedule a meeting. Let them know you’re looking to open a new account, they will make sure someone is ready and available for the time scheduled.

Ready To Open Your Bank Account?

Opening a bank account should be a relatively easy and quick process. Besides technical issues online or waiting for a banker, you can control how painless the process is for you.

If you do a little homework and come prepared, you’ll have a new bank account opened in no time.

This article is by Paul, finance expert and founder of The Income Finder. With over 15 years of experience in the finance industry, a bachelors from Benedictine University and an MBA from DePaul, he’s well qualified and ready to share great insight and tips on money management.