What do I need to open a bank account? An ID and a deposit - Business Insider

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Online banks and brick-and-mortar banks typically require the same documentation to open an account

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.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 a cash or 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.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.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.

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. You may value a bank that doesn't charge monthly fees, requires a low opening deposit, or has a great mobile app.

 

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