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How to Open a Bank Account Online in 2026

Editorial Team
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Before you start

Most US banks let you open a checking or savings account online in a few minutes. The process is the same almost everywhere: choose an account, prove who you are, pass the bank’s screening and fund the account. This guide walks through each step, explains why a bank may ask for documents or turn an application down, and what you can do about it. Requirements quoted below come from banks’ and regulators’ pages read on September 17, 2026.

Step 1: choose the right account and check the institution

  • Bank or app? Some apps are not banks: they hold your money at a partner bank. Revolut, for example, states that it is not a bank and that its US card accounts are held at Lead Bank and its savings at Cross River Bank. FDIC insurance covers the failure of the bank holding the money, not the failure of the app company.
  • Is the bank FDIC-insured? You can check with the FDIC’s BankFind tool. FDIC insurance covers deposits up to $250,000 per depositor, per insured bank, per ownership category.
  • Fees and conditions: monthly fee, overdraft fee, ATM access and the conditions for the best savings rate. Our guide to banking fees covers what to look for.
  • Individual or joint? Joint accounts have their own FDIC coverage rules, explained in our joint bank accounts guide.
Wise

Step 2: have your information ready

Federal law requires banks to obtain, verify and record information that identifies each person who opens an account. In practice, expect to provide:

  • Full name, date of birth and home address
  • Email address and phone number
  • A taxpayer identification number: usually your Social Security number, and at some banks an ITIN
  • Sometimes a photo ID or driver’s license, and information about your employment and income

Examples from banks’ own pages:

  • SoFi asks for your name, home address and Social Security number, and in some cases a copy of your driver’s license or a photo ID. You must be 18 or older.
  • Capital One 360 Performance Savings asks for your name, date of birth, mailing address, email, phone number, employment information, annual income, tax ID number (SSN or ITIN) and citizenship information.
  • Revolut US lists name, street address, email, phone number, Social Security number and date of birth in its Customer Identification Program, and requires applicants to be at least 18 with a residential address in the US.

Step 3: understand the screening

Banks may check your history with a checking account reporting company, such as ChexSystems or Early Warning Services, and sometimes your traditional credit report. According to the CFPB, negative information can come from an unpaid negative balance on an account the bank closed, suspected fraud or a history of bad checks, or problems on a joint account you shared.

If you are denied:

  1. Ask for the reason. A bank that turns you down based on such a report must send an “adverse action” notice naming the reporting company.
  2. Get your free report from that company and review it.
  3. Dispute errors in writing. Reporting companies must investigate disputes, and most negative information can’t be reported after seven years.
  4. Ask about lower-risk accounts. The CFPB notes that many banks and credit unions offer checking accounts and prepaid cards designed to prevent overdrafts, which may be available even after a denial.

Step 4: fund the account and set it up

  • Initial deposit: many online accounts have no minimum to open. Capital One, for example, gives you 60 days to fund a new 360 Performance Savings account.
  • Direct deposit: some banks tie their best terms to it. SoFi pays 3.10% APY on savings with eligible direct deposit or $5,000 in deposits every 31 days, and 0.80% APY otherwise (rates as of May 28, 2026, variable).
  • Security: turn on two-factor authentication and transaction alerts.

Two online accounts to consider

SoFi Checking and Savings opens both accounts together online, with no account, overdraft or monthly fees (fee sheet effective May 18, 2026), no SoFi fee at 55,000+ Allpoint ATMs, and optional FDIC coverage up to $3M through its Insured Deposit Program. Anyone 18 or older can open an individual or joint account, according to SoFi.

See SoFi

Wise is not a bank, but it can be opened alongside one: registering is free, there is no subscription, and it provides account details to receive money in 22 currencies. It suits people paid from abroad or who send money internationally; currency conversion costs from 0.23% depending on the currency.

See Wise

Protecting your new account

Federal rules on electronic transfers, summarized by the CFPB, give you strong protection if you act fast:

  • If your debit card is lost or stolen, report it within two business days of discovering it to limit your liability to $50; after that, you could be responsible for up to $500.
  • Report an unauthorized transaction on your statement within 60 days after the bank sends it.
  • The bank generally has ten business days to investigate (20 if the account is less than 30 days old).

FAQ

Can I open a bank account online without a Social Security number?

Some banks accept an ITIN instead; Capital One, for example, lists “SSN or ITIN” among its requirements. Other institutions, such as SoFi, ask for a Social Security number. Check the bank’s requirements before applying.

How long does it take?

The online application usually takes a few minutes; Capital One says about five minutes for 360 Performance Savings. Verification can take longer if the bank asks for documents.

Will opening an account hurt my credit score?

Banks may screen applicants with a checking account report, and the CFPB notes that some also use traditional credit reports, in addition to or instead of it. Ask the bank what it checks and whether that affects your credit score.

Why was my application denied?

The CFPB points to negative information in a checking account report, such as an unpaid negative balance or suspected fraud. If a report was the reason, the bank must tell you which reporting company it used.

Conclusion

Opening an account online is quick when you have your ID and tax number ready and know what the bank will screen. Check that the institution is FDIC-insured, compare fees and conditions, and if you are denied, get your checking account report and dispute errors. SoFi offers checking and savings without account fees, and Wise can be added for international money.