What Do I Need to Start a Bank Account With Bank of America?

Opening a bank account with Bank of America is a process that many people will be quite familiar with. For the vast majority of banks across the United States, there are requirements regarding identification documentation and address verification that are required in order to properly review the applicant. Taking the time to prepare the necessary paperwork in advance will help ensure that the application process goes as smoothly as possible. Once your identity is verified, you can quickly make your initial deposit into your new account.

In order to begin the application process, you will need to bring key identity and address verification items with you to your local bank branch. These include your Social Security number, the most current residential address you have on file, as well as an email address where you can be reached. If you are using a co-applicant for the bank account (for example, if you are opening a joint bank account), you must also bring similar personal information for that individual.

Bank of America, in a similar fashion to many other banks around the country, requires a minimum initial deposit in order to activate your account. For example, the basic-level checking account offered through Bank of America requires a $25 initial minimum deposit, while the more feature-rich checking account, referred to as the Bank of America Interest Checking account, requires a minimum opening deposit of $100. As you can see, the difference between these opening deposit mandates may lead you to rethink which specific account is most conducive to your needs.

Once you have submitted the required documentation, it should take approximately one to two business days to fully open the account. All of the necessary documentation related to your account will typically be mailed to your residence within 7-10 business days. If, for any reason, you do not receive all of the supplementary paperwork related to your account, you should contact representatives from your local branch as soon as possible in order to determine whether the paperwork was mailed incorrectly or if your account or your identity have been compromised.

Following the initial setup process for your account, your checking account will typically be complimentary unless your total balance dips below the initial minimum deposit. With that in mind, individuals should always pay careful attention to their balance in order to ensure that their account will not be penalized by the bank.