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 open 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 to 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 “apply now” button below to get started.


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



* 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