How to Open a Bank of America Checking or Savings Account

What you need to bring and the steps to open an account

Bank of America lets you open a checking or savings account online, by phone, or in a branch. The fastest route is online if you have a government ID and a Social Security number or ITIN. You can complete the entire process in about 10 minutes, and the account opens the same day.

If you go to a branch in person, bring a valid government-issued ID (driver's license, passport, or state ID card) and your Social Security number or ITIN. A Bank of America employee will walk you through the account setup, answer questions about which account type fits your needs, and you can start using the account when ready. You do not need to bring a checkbook or any other documents.

By phone, call 1-800-432-1000 and a representative will guide you through the same questions and verification steps. You will need the same ID information available, and the account opens while you are on the call.

Key Takeaways

• You need a valid government ID and your Social Security number or ITIN to open an account, whether online, by phone, or in a branch.
• Opening an account online takes about 10 minutes and the account is active the same day.
• Bank of America offers different account types with different monthly fees and minimum balance requirements, so compare them before you choose.
• You can fund your new account by transferring money from another bank, depositing a check by mobile app, or making a cash deposit at a branch.

Differences between Bank of America account types

Bank of America offers several checking and savings accounts, and each one has different monthly fees and minimum balance rules. The account you choose depends on how much money you typically keep in the account and how often you use it.

Checking accounts at Bank of America include the Core Checking account (no monthly fee if you keep a $500 minimum balance or set up direct deposit), Advantage Plus Checking (monthly fee waived with direct deposit or $1,500 minimum balance), and Premium Rewards Checking (higher minimum balance, but earns rewards on debit card purchases). The monthly fees range from $0 to $15 depending on the account type and whether you meet the balance or direct deposit requirement.

Savings accounts include the Regular Savings account and Money Market Savings account. Both earn interest, though the rate changes based on Federal Reserve decisions and market conditions. The Regular Savings account has no monthly fee if you keep a $300 minimum balance. The Money Market account requires a higher minimum balance but typically pays a higher interest rate.

Before you open an account, visit the Bank of America website or ask a representative about the current monthly fees, minimum balance requirements, and interest rates for each account type. These details change, and knowing them upfront helps you choose the account that costs you the least.

How to fund your new account

Once your account is open, you can add money in several ways. The fastest is usually a transfer from another bank account you already own. You will need the routing number and account number from your other bank, which you can find on a check or by logging into that bank's website.

If you have a paper check, you can deposit it using the Bank of America mobile app. Take a photo of the front and back of the check, and the money typically appears in your account within one or two business days. You can also mail a check to a Bank of America address, though this takes longer.

For cash deposits, go to any Bank of America branch with your new account number or debit card. The cash is available in your account when ready. Some Bank of America ATMs also accept cash deposits, though not all of them do — ask a teller which ATMs near you have this feature.

What happens after you open the account

Bank of America will mail you a debit card within 7 to 10 business days. You can use it at any ATM or store once it arrives. If you opened the account online or by phone, you can also request a temporary digital card through the mobile app while you wait for the physical card.

You will receive a welcome packet in the mail with your account number, routing number, and information about online banking. Set up online banking and the mobile app as soon as you can so you can check your balance, transfer money, and deposit checks from your phone.

If you set up direct deposit (for paychecks or government benefits), the money goes into your account automatically on the day it is sent. This also waives the monthly fee on most Bank of America checking accounts, so it is worth setting up even if you only receive one direct deposit per month.

Opening an account if you do not have a Social Security number

If you have an ITIN (Individual Taxpayer Identification Number) instead of a Social Security number, Bank of America will open an account for you. You will need the same government ID and your ITIN. The process is identical to opening an account with a Social Security number.

If you do not have either a Social Security number or an ITIN, Bank of America has a second-chance checking program called SafePass that does not require either one. You will need a valid government ID and proof of your current address (a utility bill or lease). This account has different rules and fees than standard accounts, so ask a representative about the details.

Closing an account or switching to a different account type

If you want to close your Bank of America account, go to a branch, call 1-800-432-1000, or use online banking to request closure. The bank will ask you to withdraw any remaining balance or arrange a transfer to another account. Once the account is closed, you cannot use the debit card or access the account online.

If you want to keep your Bank of America account but switch to a different account type, you can do this online, by phone, or in a branch. You keep the same account number and routing number, so any direct deposits or automatic payments you have set up will continue without interruption. The new account type takes effect when ready.

Frequently Asked Questions

Can I open a Bank of America account if I have bad credit or a negative banking history?

Bank of America does not check your credit score to open a checking or savings account. However, the bank does check ChexSystems, a banking history report. If you have unpaid overdrafts or fraud on your record, the bank may deny your process. If this happens, ask the bank what the issue is — you may be able to resolve it and reapply.

How much money do I need to open an account?

You do not need any money to open a Bank of America account. You can open it with a $0 balance and deposit money later. However, some account types charge a monthly fee if your balance falls below a certain amount, so check the fee structure for the account you choose.

Can someone else open an account on my behalf?

No. You must be present (in person, by phone, or online) to open your own account. Bank of America will not open an account for someone else, even if you have power of attorney. A parent or guardian can open an account for a minor child, but the child must be present.

What if I lose my debit card or forget my PIN?

Call 1-800-432-1000 to report a lost or stolen card, and the bank will cancel it and mail you a new one. If you forget your PIN, you can reset it through the mobile app, online banking, or by calling the bank. You can also use your debit card without a PIN at most stores by signing the receipt instead.

Do I need to keep a minimum balance to avoid fees?

It depends on the account type. Some Bank of America checking accounts waive the monthly fee if you keep a $500 minimum balance or set up direct deposit. Savings accounts have lower minimums, usually $300. If your balance drops below the minimum, the monthly fee applies. Check the current fee schedule for the account you choose.