- After selecting a bank and account type, you will begin the application process. Whether in person or online, applicants must submit personal information, such as their name, date of birth and address. Unless you have really poor credit, for example because a bank account was closed for insufficient funds, the application will likely be approved. Make sure you understand standard fees, including ATM withdrawal limits and fees.
- Children under 18 years old can open bank accounts. The steps mirror that of an adult applicant, but banks will require a parent or guardian's consent. For applicants at least 18 years old, most banks will open accounts without a parent or guardian. Avoid opening an account for a child that charges a monthly account fee. Instead, look for a checking or savings account that offers interest so the child can learn about how to manage and grow money.
- Individuals who are not U.S. citizens or lawful permanent residents can open an account even if they do not have a Social Security number. Individuals first must contact the IRS (1-800-829-1040) and request an Individual Taxpayer Identification Number (ITIN). Upon receiving the ITIN, applicants can begin applying for a bank account. Banks might request additional information, such as a valid foreign-issued passport.
