If you need a bank account, you probably want to know how quickly you can get it open. The process can be fast, but the timing depends on where and how you apply.
This guide explains how long it usually takes, what can slow things down, and how to make sure you get your account open without extra steps. By the end, you will know what to expect whether you open a bank account online or at a branch.
How Long It Typically Takes to Open a Bank Account
Opening a bank account can take anywhere from a few minutes to an hour. Online applications are usually faster, while in-person visits sometimes involve waiting in line and speaking with a banker.
Here is what you can expect:
- Online accounts: Most take 5–15 minutes if your information is ready.
- In-person accounts: Plan for 30 minutes to an hour depending on the branch.
- Instant approvals: Some banks and credit unions offer same-day access.
- Longer wait times: Delays happen if identity verification fails or documents are missing.
Average Time by Account Type
| Account Type | Average Time Online | Average Time In-Person | Possible Delays |
|---|---|---|---|
| Basic Checking | 5–15 min | 30–60 min | ID verification issues |
| Savings Account | 5–15 min | 30–60 min | Funding source delays |
| Business Account | 15–30 min | 1–2 hours | Extra documentation required |
| Joint Account | 15–20 min | 45–90 min | Both parties must be present |
Factors That Affect How Long It Takes
The time it takes to open a bank account depends on several factors. Knowing these ahead of time helps you choose the fastest option for your needs.
Online vs. In-Person Applications
Opening a bank account online is usually the quickest option. Most banks allow you to complete the entire process on their website or app.
- Online applications: Take 5–15 minutes when documents and information are ready.
- In-person applications: Take 30–60 minutes because you need to visit a branch and wait for a banker.
- Hybrid options: Some banks let you start online and finish at a branch if you need personal help.
Bank’s Technology and Processes
Banks with advanced technology often approve applications faster. Fintech banks and digital-first institutions tend to offer instant identity verification, while traditional banks may take longer.
- Fintech banks: Often provide real-time approvals and instant debit card access through a mobile wallet.
- Traditional banks: May require manual review, especially if anything on your application needs clarification.
Required Documents and Identification
Having the right documents ready prevents delays. Missing information or mismatched details are common reasons for longer processing times.
- Common documents: Government-issued ID, Social Security number, and proof of address like a utility bill or lease.
- Potential issues: Delays occur if information does not match public records or your credit report.
Additional Account Features
The features you select when opening a bank account can impact timing. For example, requesting overdraft protection or ordering physical checks may add extra steps.
- Debit card access: Digital cards are often available immediately, while physical cards arrive by mail.
- Overdraft protection: May require linking another account or completing extra paperwork.
What You Need Before Applying for a Bank Account
Getting your information and funds ready ahead of time makes opening a bank account much faster and helps you avoid delays.
Personal Information Checklist
Most banks require the same basic details before approving your application. Having everything prepared keeps the process moving quickly.
- Full name: Must match your government-issued ID exactly.
- Date of birth: Required for identity verification.
- Social Security number: Needed for tax and identity purposes.
- Physical address: Most banks do not accept P.O. boxes.
- Employment details: Some banks ask for your employer and occupation.
Minimum Opening Deposit by Bank
The table below shows how much you typically need to open a checking or savings account, along with whether you can access your account the same day.
| Bank or Institution | Checking Minimum Deposit | Savings Minimum Deposit | Same-Day Account Access? |
|---|---|---|---|
| Chase | $0 to open; some accounts require a balance or deposit to avoid fees | Often $0, depending on the account | Yes, if ID and deposit clear quickly |
| Wells Fargo | $0 to open; some accounts require $25 to meet balance criteria | Typically similar to checking | Yes, with quick approval |
| Bank of America | $0 to open for many accounts; some require balance or activity | Often similar to checking | Yes, if documentation is complete |
| SoFi | No minimum deposit required | No minimum deposit required | Yes, accounts open in minutes |
| Chime | No minimum deposit required | No minimum deposit required | Yes, accounts open almost instantly |
How to Speed Up the Process
Opening a bank account can be quick if you take a few steps before you apply. These tips help you avoid common delays and get your account active as fast as possible.
- Apply online: Digital applications often take just minutes and skip the wait at a branch.
- Have documents ready: Keep your ID, Social Security number, and address verification in one place.
- Choose banks with instant verification: Many online banks and fintechs offer real-time approval.
- Avoid peak hours: If applying at a branch, try weekday mornings to cut down on wait times.
When an Application Might Take Longer
Some situations can slow down the process even if you are prepared. Being aware of them helps set realistic expectations.
- Mismatched personal information: Any name or address differences between documents can trigger extra checks.
- Outdated or incorrect identification: Expired IDs or incomplete paperwork may require a return visit.
- Credit freezes or security alerts: Some banks may need additional steps to confirm your identity.
- After-hours applications: Online forms work anytime, but human review often happens during business hours.
Final Thoughts
Opening a bank account is usually quick, especially if you apply online and have your information ready. Most people can complete the process in under 15 minutes.
Taking a little time to prepare ahead can save you from delays and get your account open the same day. Whether you choose a traditional bank or an online option, knowing what to expect makes the process much smoother.
If you want fast access to your money, compare banks that offer same-day account opening so you can start using your account right away.
Frequently Asked Questions
Can I open a bank account without a Social Security number?
Some banks and credit unions allow you to open a bank account using an Individual Taxpayer Identification Number (ITIN) instead of a Social Security number. Others may accept a passport or other government-issued ID, but options are more limited.
Do all banks offer instant access to funds after opening an account?
Not always. Some banks provide same-day access to your account and debit card details if you open online. Others may require one business day or longer before your account is fully active.
Are there fees if I do not fund my account right away?
Some banks require a deposit within a set time to keep the account open. If you fail to meet this requirement, they might close the account or charge a monthly maintenance fee unless you meet balance or activity rules.
Can minors open a bank account on their own?
Minors typically need a parent or guardian to open a joint or custodial account. The parent remains the primary account holder until the child turns 18 or meets the bank’s age requirements.
