What do I need to open a savings account?
Answered on Saturday, November 10th, 2018 by Amy Miller
Updated: November 10th, 2018
Amy Miller
The content is accurate at the time of publication and is subject to change.

You will need to provide some personal information and pay an opening deposit if required. The personal information includes a government-issued ID, Social Security number, proof of address, and email. The opening deposit is usually between $25-$100, but some issuers may not require any deposit to open the account. Please note that you should be 18 years old to open the savings account. If you are under 18, you must have a parent or guardian to sing the documents.

All rates and fees, and other terms and conditions of the products mentioned in this article/post are actual as of the last update date but are subject to change. See the current products' Terms & Conditions on the issuing banks' websites.

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Yes. More than that, opening a bank account online is quick and easy. In addition, best online accounts come with lower fees and offer higher rates. To open a bank account online, you will need your Social Security number, valid driver’s license, and debit card. A debit card is needed to pay your initial deposit. […]

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What are savings account fees?

First of all, when you open a savings account, you may need to pay an opening deposit which is between $25-$100 on average. Some banks do not require any opening deposit though. Then, most savings accounts come with maintenance fees, like monthly fees. You can avoid them in most cases if you maintain minimum balance. […]

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