How long does it take to open a bank account? 2024
The process of opening a US bank account varies based on different factors, such as the bank you pick, the specific account and whether or not you’re eligible to apply online. If you’re eligible to apply online this is usually the most convenient option – plus, online account opening could be faster than visiting a branch in person.
In this guide, we’ll cover how long it usually takes to open a bank account, whether in person or online, and we’ll look at some popular banks like Bank of America, Chase and Wells Fargo. To give a sense of how online providers compare, we’ll also touch on online providers like Wise and Revolut so you can see if either fit your needs.
Key points: How fast can you open a new bank account?
- The account opening process varies a lot from bank to bank, but includes several different stages
- To get full access to your new account you’ll usually need to apply, get verified and then wait for your debit card, checkbook and any other documents to arrive by mail
- If you’re eligible to apply online, you can usually complete the application form in under 15 minutes
- Once your application has been submitted, the bank will verify your account, which can take 2 working days
- You’ll then need to wait for the mail to arrive with your debit card and checkbook – potentially 7 to 10 days later
- Specialist non-bank providers like Wise and Revolut offer a secure online application and verification process – plus you may be able to generate an instant virtual debit card once your account is verified, to start transacting more quickly
How long does it take to open a bank account in person at a bank?
When you open an account at a bank or credit union – or with a non-bank alternative provider – there are a couple of distinct parts to the process. Firstly you will need to submit an application – which could be online or in person depending on the specific bank, account and your personal preferences. Then, the bank needs to verify your application – usually by checking your ID and address documents, and in some cases by completing a credit check.
The first stage here – completing the application form – can often be completed in a relatively short time. Online applications are usually pretty simple to navigate and may only take a few minutes. If you choose to submit your application in a branch, a member of staff can guide you through the process so it’s easy to follow.
Next, it’s over to the bank. If you’ve applied in person, you might find you can get your documents verified and your account opened all in one visit. However, this isn’t always the case. You may need to present your paperwork and then wait for the bank to verify you and send you your debit card and account information by mail. In this case the application may take 2 or 3 days to be verified – and you’ll need to wait a week or so to get your card in the mail.
How long does it take to open a bank account online?
Opening your bank account online is usually the most convenient option. Many banks and non-bank alternative services offer in app or online applications for anyone who is eligible for the account. The process will follow the same steps – completing an application and then going through a verification process – but when the verification step is fully digital, you may find it’s quicker and more streamlined.
Banks vary in whether they offer online account opening – but non-bank alternatives often operate entirely online and so have pretty speedy application, verification and onboarding. Here are a couple you might consider:
- Wise: account application and verification is entirely online, usually accounts are verified in 2 – 3 working days
- Revolut: accounts can usually be verified within 24 hours after you submit an application
With banks the application and verification process can sometimes be completed online – but not always. You may find for example that you can not apply online if you are not a US citizen or Green Card holder, or if you’re opening a particular type of account. Here’s a quick look at how online application and verification works for a few major US banks:
- Bank of America: accounts can be verified within 1 or 2 business days after application, your documents and card take 7 – 10 days to arrive by mail
- Chase: you can apply for most accounts online which doesn’t take very long, your card should arrive by mail in about a week
- Wells Fargo: you can apply online for many accounts if you’re over 18 and not applying for a joint account – applications don’t take too long, and you can track the progress of your account verification in the online banking service
It’s also helpful to note that even when you can apply online with a bank there may be an offline step to complete – popping into a branch to show your paperwork, or to give a signature sample for example. You might be able to do this by mail or online – but again, bank policies vary pretty widely in this respect.
How long does it take to open a bank account at Bank of America?
If you’re a US citizen or Green Card holder you can usually apply for your Bank of America account online. You’ll need to upload your documents, and once your account has been verified your account information and card are mailed to you. Verification takes up to 2 working days, and then your account documents should arrive within 10 days. As part of the application you need to sign and send back by mail a signature form.
If you’re not a permanent resident or citizen of the US you have to open your account in a Bank of America financial center. You’ll be notified of the time it takes to get all your documents during your appointment.
How long does it take to open a bank account at Chase?
You can apply for most Chase checking accounts online. Chase doesn’t advertise a specific amount of time to open an account with them, but the process is fairly simple. Your account information and documents should arrive in about a week.
How long does it take to open a bank account at Wells Fargo?
You can open an account online with Wells Fargo, but under 18s and anyone opening a joint account must visit a branch in person. When you apply you should receive an access code which you can use to log into the Wells Fargo online banking to track the progress of your application.
How long does it take to get a debit card?
Generally once you’ve applied for your account and been verified, your bank will dispatch your debit card by mail to your preferred shipping address. While the length of time for your card to arrive will depend on a number of factors including where you live and the bank’s own processes, this generally takes about 7 to 10 days.
It’s helpful to note that non-bank alternative providers like Wise may not issue a physical card as a standard part of their account features. With Wise, if you have a US based personal account, after you open your account, you’ll be able to order your plastic card to be delivered to your home in 14 to 21 days. There’s a one time fee to pay for this service.
Once you order your physical card you’ll be able to instantly generate a virtual card, which you can add to a wallet like Apple Pay to make mobile and online payments conveniently. Once your physical card arrives you can activate it for contactless payments, chip and PIN and cash withdrawals.
What you need to do before opening a bank account
Getting a bank account which suits your specific needs is important, to allow you to transact conveniently and without unnecessary fees. That means doing a bit of research before you decide which account to choose. Compare a few different banks and non-bank providers, looking at their checking or saving accounts, depending on your specific needs and goals. Take a good look at different account fee structures to make sure you’re getting the best available deal – and make sure you’re eligible to apply for the account you like the best.
Once you’ve picked the right bank and account product for you, check the application process and which documents are needed. You’ll have to gather up any paperwork the bank needs in advance to make sure the application and verification process can go smoothly.
How to open a bank account
The exact process to open a bank account can vary a bit, but usually the steps are pretty similar whichever bank you select. Here’s a broad outline:
- Research different banks, non-bank alternatives, and account products – remember to look at the fees for transactions you frequently make
- Select the right account for your needs and check you’re eligible to apply – have a look at the process you’ll need to follow so you know what to expect
- Gather the documents needed – usually an ID, a proof of address, and for some accounts proof of income
- Submit your application online, or in person in a bank – you may need to make an appointment to apply for your account in person
- The bank will complete your verification steps once you submit your application and show your documents – this can take a couple of days
- Once your account is verified you’ll be sent your debit card, checkbook and any other account documents and information needed by mail – this can take 7 to 10 days on average
Learn more: What do you need to open a bank account?
Do you need an appointment to open a bank account
Not all accounts can be opened online. Some banks require you to visit a branch in all circumstances, others ask you to visit a branch if you’re under 18, opening a joint account, or non a permanent US resident for example.
Making an appointment in advance can make the process easier as you’re less likely to have to wait in line. In some cases it’s essential to make an appointment. Some banks like Wells Fargo ask that all customers make an appointment. Chase does not require an appointment – but it can be helpful. For some banks – like US Bank – you need an appointment for some branches but not others. Check with your preferred bank and branch to make sure you understand their requirements ahead of time, and to avoid a wasted trip.
Non-bank specialist providers like Wise and Revolut run a completely digital application and verification process. You don’t need to visit a branch or make an appointment – just snap your ID documents and upload them online or in your provider’s app.
How to make an appointment with a bank to open an account
You’ll be able to make an appointment to visit your local bank online in most cases – or you could call into the branch directly. Different banks have their own processes here so chatting to a teller may be the easiest way to check what is needed, and secure the best available appointment for you.
Can I open a bank account in one day?
Opening a bank account involves a couple of steps. Submitting your application does not normally take a very long time. In fact, many banks let you complete this step online for convenience. After you’ve applied, it’s over to the bank. They need to verify your account which can take a day or two – and then mail your documents to you, which may take a week. All in all, this means you’re unlikely to be able to fully complete the account opening process in one single day.
As an alternative you could consider a non-bank provider like Wise or Revolut. The application process is entirely online, and while verification can still take a day or two, you could be issued a virtual card quickly once your account is up and running. Add this virtual card to a mobile wallet like Apple Pay and you can start to transact even before your plastic debit card is delivered.
Conclusion: How long does it take to open a US bank account?
The end to end process of opening a bank account includes a couple of distinct steps. You’ll need to apply in person or online, then the bank has to verify you by checking your ID and address documents. Only once you’ve been verified will your account documents, card and checkbook be sent to you. This means that opening a bank account and getting all the associated documents and your card can take around 10 days.
The exact processing time does vary a lot from bank to bank – but you may be interested to learn that non-bank alternative providers offer a fully online application, verification and onboarding process. This means no need to wait in line at a bank branch, and you may also be able to get a virtual card as soon as your account is approved – which means you don’t have to wait for your physical card to arrive before you can start to transact.
Here’s a quick reminder of how long it takes to open an account end to end with the providers we’ve featured in this guide:
- Wise: account application and verification is entirely online, usually accounts are verified in 2 – 3 working days. Get a virtual card as soon as you order a physical card to be dispatched to you.
- Revolut: accounts can usually be verified within 24 hours after you submit an application. Generate a virtual card once your account is approved.
- Bank of America: accounts can be verified within 1 or 2 business days after application, your documents and card take 7 – 10 days to arrive by mail.
- Chase: you can apply for most accounts online which doesn’t take very long, your card should arrive by mail in about a week.
- Wells Fargo: you can apply online for many accounts if you’re over 18 and not applying for a joint account – applications don’t take too long, and you can track the progress of your account verification in the online banking service.
FAQs How long it takes to open a bank account
How long does it take to open a checking account?
To open a checking account with a bank in the US you’ll need to apply, get verified, and then wait to receive your account documents, checkbook and debit card. Completing your application is likely to only take a few minutes once you have gathered all your documents. Verification may take 1 or 2 business days. Delivery of your card and checkbook could take a further 7 to 10 days. If you’re in a hurry you may want to look at non-bank options which offer a virtual debit card you can get more quickly, to avoid having to wait for the mail to arrive before you can transact.
How long does it take to open a savings account?
Opening a savings account in the US requires you to complete an application and then – if you’re a new customer at the bank you’ve picked – complete verification. The application is not likely to take very long, but verification will take around 2 days in many cases. If your account has a mandatory opening deposit you’ll also need to arrange that – your account may not be functional until your funds have been transferred to your new bank and cleared.
How long does it take to open a bank account for a minor?
With many US banks, opening an account for a minor can only be done in a branch. This means you’ll need to make an appointment to visit in person, and to present all the required documents for verification purposes. Once your account has been verified, any related documents or a debit card can be received by mail – usually in 7 to 10 days after application.
