Many banks and credit unions let you open a checking account online. For others, you need to apply in person at a local branch. To verify your identity and confirm eligibility, your bank will ask you to provide personal information, including your:
- Full name
- Physical address
- Driver’s license or other government-issued photo ID
- Social Security number
If you’re approved for an account, you can usually fund it using cash, a check or a transfer from an external account. Though online checking accounts typically don’t support cash deposits.
How To Open a Checking Account Online
Opening a checking account online is similar to opening one in person.
Once you find a checking account that’s right for you, fill out an application on the bank or credit union’s website and submit any required documents. After that, you should be able to fund your new checking account online.
If you’re opening a checking account at a bank that you already have an account with, making your initial deposit may be as simple as transferring money from your other account. If you’re opening a checking account at a new bank, you’ll need to link your existing account by providing your bank account and routing numbers. You can then transfer funds from your old account to your new one.
When opening checking accounts online, consider how much you’ll need to get started. You may need $25, $50, $100 or more to open a checking account at a traditional bank. Online banks, on the other hand, may require an opening deposit as low as $1 or, in some cases, $0.
How Many Checking Accounts Can I Have?
There’s no limit to the number of checking accounts you can have. You can have multiple checking accounts at the same bank or different banks.
Whether it makes sense to have more than one checking account depends on how you manage your money. If you’re married, for instance, you might have one checking account in your name and a joint account with your spouse you use to pay shared bills. Someone who’s self-employed may have a personal checking account to cover their personal expenses and a separate checking account for business expenses.
When opening multiple checking accounts, consider the fees you’ll pay for each one. If you can find a free checking account option with no monthly maintenance fee, that might be ideal. Also, consider how you’ll keep track of your accounts. Using a budgeting or money management app that links to each of your accounts could be a simple way to review your balances in one place.
