What paperwork is needed to open a bank account

Opening a new account – much like going off to college – is a rite of passage for many students. The account you choose can help you ease into the habit of managing your own money and making good financial decisions while in school. Here’s a guide on how to open your first checking or savings account:

Figure out what you need

When it comes to determining what accounts will work for you, review your needs. Are you looking for an easy way to access cash? Will you need to write checks? Do you need a way to set money aside for longer-term savings goals? Also, consider the proximity and availability of your bank’s ATMs and branches, in addition to other personal preferences that may be important to you like online banking and overdraft protection.

The type of account you require will be based on your personal and financial needs and goals, so it’s important to know these before choosing your accounts.

Consider your options

Once you’ve identified your needs, evaluate your options:

• Checking account: A checking account can be opened individually or jointly, and you’ll need your basic information, Social Security number, driver’s license, and a minimum opening deposit amount. Most checking accounts come with checks, some don't - choose which you'll need. The account can usually be linked to a debit card – giving you quick access to cash – and can be managed online, as well as at ATMs. Wells Fargo also has a unique service for cardholders called Card Design Studio® service, where you can insert your favorite image to appear on your Wells Fargo Debit Card. You can also provision your debit card to a digital wallet.
  
• Savings account: Similar to checking, you’ll need to choose between an individual or joint savings account, and be prepared with the same basic information and an opening deposit amount. It is never too soon to start saving for your future financial goals. With an account like Wells Fargo Way2Save Savings , you have the opportunity to save automatically by linking to your checking account.

Actively monitor your accounts

Once you’ve set up your accounts, review your options for monitoring and managing them. One way to keep tabs on the status of your accounts is with alerts sent right to your email or wireless device. By signing up for these alerts, you can be notified quickly when a transaction takes place, allowing you to help monitor your account activity wherever, whenever.

There are a variety of Wells Fargo products that can assist you in managing your accounts. Wells Fargo Online® gives you 24-7 access to your accounts with activity details as well as various alerts you can choose from. And with Wells Fargo Mobile®, you can check your accounts on the run – choose from the mobile website or apps to help access your account.

Opening your first bank account is just one milestone in your financial future. Once you get started with opening an account, you’re one step closer to building a solid financial foundation for years to come.

Insider's experts choose the best products and services to help make smart decisions with your money (here’s how). In some cases, we receive a commission from our our partners, however, our opinions are our own. Terms apply to offers listed on this page.

• Some banks check your criminal record and citizenship before allowing you to open an account.
• You'll likely need a government-issued ID, proof of address, and more to open a bank account.
• You may need extra documentation if you're under 18, or if you're opening a student account.
• See Insider's picks for the best checking accounts »

To open a bank account, you'll need basic information, such as your full legal name and contact information, plus certain documentation that banks require from every customer who opens an account. You also may need a few extra documents if you're opening a special type of account.

Research or ask about eligibility requirements before you walk into a bank to open an account.

You must be 18 to open a bank account, although you can open one if a parent or guardian co-owns the account. Some institutions will turn you away if you have a criminal record or aren't a US citizen, and others will reject you if you have a history of overdrafts or other negative activity with your previous bank.

Not all banks have the same eligibility requirements. If you find out you can't open an account with one bank, don't give up — keep looking. 

If you are an immigrant or non-US citizen that's struggling to open a bank account, you'll want to look through our list of banks and credit unions that make it easy to open an account. You may find an option near where you live.

What to bring with you to the bank

A government-issued ID

You can bring a driver's license, passport, or military ID to the bank.

If you don't have any of these documents and aren't ready to take a driving test, visit the Department of Motor Vehicles (DMV) to get a state-issued ID. It's similar to a driver's license card, except it doesn't authorize you to drive — it's just a tool for identifying yourself.

Social security number (SSN) or individual tax identification number (ITIN)

If you're a US citizen, bring your Social Security card to the bank. If you're a non-US citizen, bring proof of your ITIN. If you don't have either, you can either order a replacement SSN card or apply for an ITIN online.

Proof of address

Bring a piece of mail with you that contains your home address. This shouldn't just be a letter from your parents with your address on the envelope — a bill or credit card statement should do the trick.

Opening deposit

Not all banks require an initial deposit to open an account, but many ask for a deposit ranging from $25 to $100.

Be ready with cash or a check to make the deposit. You can also transfer money from another bank to your new account, but the other bank may charge a fee for this activity.

What to bring if you're under 18, a student, or opening a joint account

A parent or guardian if you're under age 18

You must be at least 18 years old to open a bank account on your own. You can open one if you're still a minor, but you must bring a parent or guardian with the necessary documentation to open the account with you.

Proof of enrollment if you're a student

Student accounts often come with extra perks, such as cash bonuses or waived monthly fees. You should bring proof of enrollment, like a transcript, and your student ID.

Information for both people if you're opening a joint account

If you're opening a joint account, you'll need all the necessary documentation for both people for it to officially belong to both of you. 

How to open a bank account online

Opening an account online is pretty similar to doing it in person — you just don't have to make the trip.

You'll still need all the same documentation. An online bank will likely have a way for you to scan or submit pictures of necessary documents. You can't make your opening deposit in cash, so the easiest way is probably to transfer money from another bank account. 

How to choose a bank account

The best bank account for you will depend on your priorities.

You may value a bank that doesn't charge monthly fees, requires a low opening deposit, or has a great mobile app. If you're opening a checking account, you probably want easy access to your money. For a savings account, you'll likely want a high interest rate. 

You likely want flexible customer service hours with an online bank, and for a brick-and-mortar bank, you might care about which bank has a branch closest to your home.

Laura Grace Tarpley, CEPF

Personal Finance Reviews Editor

Laura Grace Tarpley (she/her) is a personal finance reviews editor at Insider. She edits articles about mortgage rates, refinance rates, lenders, bank accounts, wealth building, and borrowing and savings tips for Personal Finance Insider. She is also a Certified Educator in Personal Finance (CEPF). She has written about personal finance for six years. Before joining the Insider team, she was a freelance finance writer for companies like SoFi and The Penny Hoarder, as well as an editor at FluentU. You can reach Laura Grace at . See below for some of her work. Today's 30-year mortgage rates Here are the best mortgage lenders right now The pros and cons of paying off your mortgage early The best online high-yield savings accounts Chase checking accounts: Compare all 5 options Learn more about how Personal Finance Insider chooses, rates, and covers financial products and services »

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