Your Guide on How to Open a Bank Account

Jan 15, 2020

Opening a bank account is the best way to keep your money safe, track how much you’re spending, and save money for the future. Fortunately, with online and mobile tools opening a bank account is easier and cheaper than ever.

Man Opening Account Online

 

What Do You Need to Open a Bank Account?

 

There are several requirements for opening a bank account. How do you set up a bank account? You’ll likely need to provide some documents. These will vary slightly depending on where you open your account, but usually include a valid, government-issued ID and other basic information, like your birthdate, Social Security number or phone number and email address.

 

Choosing the Right Type of Bank Account: Checking, Savings, or Business

 

Bank accounts come in all shapes and sizes; if you’re opening your first bank account, then basics probably better. At WaFd Bank, we offer Free Checking*, which comes with no minimum balance or monthly maintenance fee, 24/7 online and mobile banking, mobile check deposit, and a debit card.

 

Minimum Deposit to Opening a Bank Account

 

Most banks require a minimum balance to open an account. WaFd Bank’s Free Checking’s minimum deposit is low — only a $25 minimum deposit to open a bank account.

 

How Do You Open a Bank Account Online?

 

Gone are the days of having to take time from your day to drive to the local branch between 9 and 5 to open a bank account. With WaFd Bank, you can open a bank account without ever leaving your couch — simply click the “Open an Account” button below to get started.

 

Can You Open a Bank Account Under 18?

 

To open a bank account, you must be at least 18 years old, and a U.S. Citizen or a Permanent Legal U.S. Resident.

 

Do I Need a Job to Open a Bank Account?

 

Employer information is not required to open a bank account online. All that you will need is to provide some documents. These will vary slightly depending on where you open your account, but usually includes a valid, government-issued ID and other basic information, like your birthdate, Social Security number or phone number and email address.

 

Have questions? We’re here to help! Simply ask Walt or call our Customer Care team at

1-800-324-9375.

 

* Account requires twenty-five dollars, eStatements registration and direct deposit to open. Overdraft and return item fees may apply. Must be 18 years old to open an account online.

 

Open an Account