What do you need to open a bank account?

Having a bank account has many benefits, such as access to direct deposit and FDIC insurance. To open a bank account, you need at least ID and proof of address. However, some bank accounts may have additional requirements. Let’s take a closer look at these requirements and other things you may need.

Opening a bank account is usually a simple process. If you have all the necessary documents, you can visit a bank branch or website and open an account in minutes. But to avoid hiccups, you should have everything ready before opening your account.

When you open your account, you must provide basic information such as your name, date of birth, and address. After that, you need to provide documents to support the information you have provided.

Here are the things you need when opening a bank account:

Bring a valid government-issued photo ID, such as a driver’s license, state ID or passport. If you have one, you’ll need to know your Social Security number or Individual Taxpayer Identification Number (ITIN). A handful of banks may allow you to open an account without an SSN or ITIN, but this is typically required.

Read more: Can non-US citizens open a bank account?

Bring documents to prove your residence at the address you provided when filling out account applications. This could be a physical message such as a bank statement or utility bill with your address on it. Other acceptable documents may include a recent bill, or mortgage or lease documents.

Read more: How to open a bank account without a physical address

Some banks (but not all) require you to keep a minimum deposit in your account. These minimum deposit requirements vary by bank and account type. You may need to open an account with as little as $50 or as little as a few thousand dollars.

Before starting your application, double check the minimum opening deposit requirements and make sure you can meet them. You should also know if there is an ongoing minimum balance you need to maintain to avoid monthly fees.

Read more: What is the typical minimum balance for an online savings account?

Banks often have additional requirements to open an account, such as being 18 years old and a legal resident of the United States.

These are some of the most common requirements for opening a bank account. This list is not necessarily exhaustive but covers all the bases in most cases. If you plan to visit a branch to open an account, call ahead and ask what documents you need.

Read more: How to open a bank account if you are under 18 years old

The requirements for opening a joint bank account are generally the same as those for an individual account. The main difference is that you have two account holders instead of one, so you need the names, birthdays, addresses and social security numbers of both owners. You will also need ID and address proof for both account holders. Of course, you can use the same address proof for both account holders if they live in the same household.

Read more: What is a joint bank account and how does it work?

Generally, the requirements for opening a bank account are the same whether you open it online or in person. For example, no matter how you open the account, you must provide basic information such as your name, address, and social security number. In both cases, the bank must verify your information first. There may still be slight differences in the process.

When you open an account in person, you can give your photo ID to the teller and they can make a photocopy. Similarly, if your account requires an opening deposit, you can give it to the bank lender in cash.

On the other hand, when you open an account online, you may need to submit a photo ID and write a check if your account requires a bank transfer or opening deposit.

As you can see, the process is the same regardless of how you open your account. However, these differences can be a bit of a hindrance to opening an account online, especially for those who are not tech savvy. Fortunately, opening an account at a branch is still an option for those with a nearby branch location.