How to Open a Bank Account Online

Do you want to open a USD bank account online? Whether you’re looking to manage your account fully using online and mobile banking, or simply want to skip waiting in line in a branch to get your account opened, we have the solutions for you.

To open a US bank account online you’ll have a few options from traditional banks and also digital alternatives like Wise and Revolut – which works best for you might vary based on your personal situation and preferences. This guide covers all you need to know.

Go To WiseGo to Revolut

Can you open a bank account online for free without going to the bank?

Yes. The good news is that there are accounts you can open with either a traditional bank or an online provider, and for free. It’s common for traditional banks to ask for a minimum opening deposit as soon as your account is approved – while online specialists usually don’t have any minimum deposit or fall below fees to worry about.

With traditional banks you’ll usually have to be a US resident with an eligible proof of ID and address, as well as a Social Security Number. Once your account is up and running you can transact online or in person and access a full range of financial products and services.

Specialist account providers like Wise and Revolut may allow you to open an account which can hold, spend, send and receive USD even if you don’t live in the US or don’t have a US proof of address available. These services often offer multi-currency account management features, linked spending cards, and low transaction fees.

What do I need to open a bank account online?

To open a bank account online with a traditional bank you’ll usually be asked to provide:

  • Your name and date of birth
  • Your Social Security Number
  • Your US address – proof may be required depending on the account
  • A valid government issued proof of ID – passport, driver’s license or state ID for example
  • An opening deposit, which can start from about 25 USD

If you’re interested in opening an account online which can be used to transact in US dollars, but don’t have a physical address in the US, you can also look at specialist online providers like Wise and Revolut.

Wise offers accounts to people based almost anywhere in the world, with only a short list of unsupported countries, while Revolut serves a range of major global economies across Europe, plus the US, UK, Japan, Australia and more. Both offer accounts you can use to hold, exchange and spend US dollars, without requiring US residency. More on this later.

Go To WiseGo to Revolut

How to open a bank account Online

Different banks have their own processes for online account opening. However, they usually state that the entire application will only take 5 or 10 minutes, and can be managed from your computer or in some cases your smart device. Here’s what you’ll normally need to do:

  1. Download the bank’s app, or head to their desktop site
  2. Select the account you want to open and double check you meet the eligibility requirements
  3. Click Apply online and enter your personal details following the onscreen prompts
  4. Upload images of the required documents for verification
  5. Read through and confirm your agreement with the account terms and conditions
  6. Once your account application is approved you’ll often need to make a minimum deposit amount, which you can pay by card or bank transfer from another account

It’s worth noting that online bank account opening isn’t always possible – if you can’t get your account verified digitally, you’ll need to visit a branch in person to get started. You may also need to attend a branch if you’re opening a joint account or an account for a minor.

What is the best bank to open an account online?

You’ll be able to open an account online with either a regular bank, or a specialist provider. Both have their own pros and cons, and offer a varied range of features and fees. To give a flavor, let’s look at some of the key account features from a couple of specialists, and 2 of America’s big mainstream banks.

ServiceWiseRevolutBank of America*US Bank*
Currencies covered40+ currencies including USDTypically around 28 currencies including USDUSDUSD
Debit card AvailableAvailableAvailableAvailable
Opening feeNo feeNo feeMinimum opening balance 25 USDMinimum opening balance 25 USD
Maintenance feeNo feeStandard plans without monthly fees are available – or customers can upgrade to accounts which have a monthly charge4.95 USD/month – can be waived by fulfilling eligibility criteria6.95 USD/month – can be waived by fulfilling eligibility criteria
Fall below feeNo feeNo feeNo feeHold 1,500 USD minimum to avoid maintenance fee
International transfersLow fee, varies by currencyFee varies by currency and payment value16 USD incoming wire fee

No transfer fee for wires sent in a foreign currency – exchange rate markups are likely to apply

25 USD incoming wire fee


50 USD outgoing wire fee

Close account feeNo feeNo feeNo feeNo fee – 5 USD/month dormant account fee may apply
Business accountsAvailableAvailableAvailableAvailable
Is it safe?Yes – regulated and trusted providerYes – regulated and trusted providerYes – regulated and trusted bankYes – regulated and trusted bank

*Bank of America account profiled – Bank of America Advantage SafeBalance Account. US Bank account profiled – Easy Checking Account. Other accounts from these providers have varied terms and conditions

Read Wise ReviewGo to Revolut

It’s fairly common now for traditional banks to offer ways to open your account online or through an app. That’s great as it means you can avoid heading into a branch to get started – but you’ll usually also need a physical US address, which can be a limitation for some people.

Other options from specialist providers like Wise and Revolut can offer more flexibility, with no minimum balance requirements, a broader range of currency management features, and lower fees overall.


Wise offers multi-currency accounts you can open online and in-app, in all but a small handful of unsupported countries. Use your account to hold, exchange, send and spend 40+ currencies including USD, and manage your money on the move with the Wise app.

Your account will come with USD bank details so you can get paid like a local in US dollars, as well as up to 10 other currencies (including EUR, CAD and GBP). More information on Wise Multi-Currency Account Review.

Accounts have no monthly fees, no minimum balance requirement, and all currency exchange uses the mid-market exchange rate. You just pay low, transparent fees for the services you need.

  • Accounts are free to open, with no monthly fee or minimum balance
  • Customers in most countries can get a linked Wise international debit card, with some fee free ATM withdrawals
  • All currency conversion uses the mid-market rate with no hidden fees
  • Features available may vary based on where you live

Go to Wise

Advantages of a Wise accountDisadvantages of a Wise account
Multi-currency capabilities: Hold, exchange, send, and spend in 40+ currencies.

Local currency bank details: Get USD bank details to receive payments in US dollars just like a local. 

Transparent and low fees: No monthly fees or minimum balance requirements. Wise uses the mid-market exchange rate.

Accounts are free to open.

No options for cash or cheque deposits.Some currencies may not be supported.

Variable fees and limits may apply depending on the country of destination.

Go to Wise


If you live in the US, the UK, the EEA, Australia, Singapore, Switzerland or Japan, you can open a Revolut account online or through the Revolut app. Accounts offer multi-currency features, so you can hold and exchange around 28 currencies, including USD. 

If you need to convert currencies or want to spend internationally, you may be able to access no-fee currency conversion, depending on the plan you pick. Accounts come with linked cards and a good range of features to let you invest, save, budget and spend.

  • Choose a Standard account without any opening fee or monthly fees, or upgrade to a paid account plan for more features
  • Get a linked card and some no-fee ATM withdrawals based on your plan type
  • Mid-market exchange rates for currency conversion, up to plan limits
  • Features available may vary based on where you live

Go to Revolut

Advantages of a Revolut accountDisadvantages of a Revolut account
Multi-currency features for holding and exchanging 28 currencies, including USD.

Access to no-fee currency conversion for international spending (depending on the chosen plan).

No-fee everyday benefits like global peer-to-peer payments and early salary access.

Get up to 4.25% annual percentage yield with Savings Vaults.

Limited range of banking products, such as savings accounts or an overdraft facility.

Low limits for no-fee cash withdrawals. 

No cash or cheque deposit options.

Go to Revolut

Bank of America

If you’re in the market for an account from a traditional bank, Bank of America may be a good pick, with a range of checking accounts you can open online. You’ll need to have your Social Security Number to hand, and you’ll have to have an eligible US residential address to get started.

Accounts range from basic options with easy ways to waive fixed ongoing fees, to more complex products with a broader selection of services and higher charges or minimum balance requirements.

  • Open your account online using your US residential address
  • Good range of account options, including some with maintenance fees you can waive easily
  • Many accounts come with checking features
  • Most standard Bank of America accounts are used to hold and handle USD only
Advantages of a Bank of America accountDisadvantages of a Bank of America account
Wide range of checking accounts.

Convenient access to a large national network of branches and ATMs.

Low minimums to open a savings or checking account.

Automatic savings program.

Shopping and cash rewards.

High overdraft and ATM fees.

Low interest rates on savings.

US Bank

US Bank also offers online account opening options for customers who live in the US. The online opening process should only take you about 5 minutes, and once your account is verified you’ll be able to make your minimum deposit and start transacting right away.

US Bank offers checking and savings accounts, investment and retirement planning support, loans and credit, as well as a full suite of online and mobile banking options. Once you’re all set up with your account you can manage your money on the move, or pop into a branch for in person help.

  • Online account opening for US based adults over the age of 18
  • Full range of account products and connected services
  • Online and mobile banking as standard
  • No multi-currency features offered on standard account products
Advantages of a US Bank accountDisadvantages of a US Bank account
Quick and easy online account opening.

Full range of account products and services, including checking, savings, investments, and loans.

Online and mobile banking.

No ATM transaction fees at US Bank ATMs.

Wide ATM and branch network for easy access and in-person assistance.

Low APYs on savings, CDs, and money market accounts.

Not all checking accounts offer free ATM withdrawals and overdraft protection

Types of Accounts

There are a good range of account options out there which all suit different customer needs. Here’s a rundown of some of the most common ones:

  • Online only accounts – from regular banks or specialist services, limited options for in person support, all transactions managed online or in-app.
  • Basic checking accounts – usually low or no maintenance fees, with easy ways to waive ongoing costs. Range of services may be limited.
  • Premium checking accounts – often come with personal banking support, but require high minimum balances or have high monthly fees.
  • Savings accounts – interest bearing account products to help you grow your balance.
  • Multi-currency accounts – helpful if you transact in foreign currencies often, used to cut the costs of currency exchange and international spending.

Opening a Business Account Online

If you’re a freelancer or own a registered business, you can also open a business bank account online.

Different banks and specialist providers have their own business bank account products, which have a varied range of features. The best online business accounts also come with low or no monthly fees, multi-currency functionality so you can transact internationally, debit and expense cards, and time savings perks like batch payment processes.

Wise Business

Check out the Wise business account which lets you hold and exchange 50+ currencies, receive payments like a local from 30+ countries, and send money to 80+ countries. There’s a low one time fee to get full account features, with no minimum balance and no ongoing charges.

You’ll be able to manage your money online and on the move, with mid-market exchange rates every time you pay or get paid from overseas. Accounts also offer ways to cut admin, like mass payments, and cloud accounting reconciliation options.

Go to Wise Business

Revolut Business

Revolut Business offers four account options, including a free plan with features that provide a wide range of tools to help grow and manage the needs of businesses of all sizes. Freelancers and growing companies can choose between the Free, Grow, and Scale plans on offer, while larger corporations can opt for the customizable Enterprise Plan, which includes a dedicated account manager, to conduct global business with ease. 

Go to Revolut Business

How long does it take to open a bank account online?

The time it takes to open an online account varies depending on your bank of choice. However, you can have a new online account up and running in a mere matter of minutes.

In today’s digital world, nearly every financial institution provides online account openings. However, it’s important to remember that some banks will require additional steps for security and verification purposes, such as visiting a branch in person. Overall, the convenience and speed of opening an online bank account make it a hassle-free option for individuals and businesses seeking efficient financial solutions.

Let’s take a look at a few examples, including Wise, Bank of America, and U.S. Bank.

Wise account opening

Quick and efficient, Wise lets you open an account in just minutes. All you have to do is register online or through their convenient app by providing your email address. However, you may need to submit documents such as your passport, national ID card or driver’s license for verification purposes which can take up to 2-3 working days. 

Bank of America account opening

Bank of America typically processes applications within 1 to 2 business days. Customers are notified of their approval status either through email or a physical letter and will be sent their account documents via U.S. Mail within a 7-10 business day period. 

U.S. Bank account opening

Most online accounts are opened in five minutes or less, resulting in a quick and hassle-free experience. 

How to open a bank account for a minor online

Opening a bank account for your child is a great first step to introducing them to financial management and responsibility. Not only will they learn about saving for financial goals, but it’ll also teach them how to use money management tools and allow them to make financial mistakes in a safe environment.

Not all banks offer accounts for children and teens, but there are still plenty of options available. Online provider Revolut offers an account specifically designed for teenagers aged 13-17, known as Revolut <18, and minors aged 13 and above can create an account for no-fee with parent or guardian approval. If you’re aged 12 or under, a parent or guardian will need to open the account for you from their own Revolut app, and payments to and from customers are only available to teens aged 13 and above.

Helping children and teens control their finances and develop healthy money habits from an early age, opening a Revolut <18 account is easy. Just follow these three simple steps:

  1. Download: Download the Revolut <18 app and create an account.
  2. Approve: Get approved by your parents or guardians.
  3. Go!: Once approved, you’ll receive your Revolut <18 card, which you can personalize and add to Apple or Google Pay for immediate spending.

With a Revolut <18 account, both the parents and the minor account holder can download either the standard Revolut or Revolut <18 app to view and manage transactions, allowing teens to benefit from a safe security system. They can also track their activity, set savings goals and receive instant alerts. Other banks and financial institutions, such as U.S. Bank, also provide banking services for minors.

It’s never too early to start teaching your kids good financial habits, and setting them up with their own account is a great way to introduce them to the basics. Take your time to explore all the offers available and choose the one that best fits your and your child’s needs. Remember, picking a bank account for your kid isn’t any different from choosing an account for yourself, so review account fees and look out for any perks and discounts on offer, such as budgeting tools or car loans for older teens.

What are the costs?

Opening an account online is usually free, but traditional banks may ask you to deposit a fixed minimum amount as soon as your account is approved. There are also ongoing and transaction costs – which can include:

  • Maintenance or fall below fees
  • Out of network withdrawal fees
  • Check fees
  • Foreign transaction fees
  • International transfer fees
  • Account dormant fees


Free online bank accounts

When it comes to opening an online checking account in the United States, you’ll find a wide range of options from banks and specialist providers who don’t charge an account opening fee. However, the best free online bank accounts will do more than just keep your money in your wallet and will typically offer additional free services or even pay interest.

Just be careful, as many bank accounts that are advertised as free may actually charge you ATM and overdraft fees, amongst others. Let’s take a look at two popular providers and their fee structures:

Wise account without opening fee or annual fees

  • Registering for a Wise account is free, with no annual or monthly fees.
  • Fees for sending money vary by currency and range from 0.43%.
  • Spending with your Wise card allows for free withdrawals of up to 100 USD per month per account (2 or less withdrawals). ATM fees over 100 USD per month per account incur a 2% fee per withdrawal.
  • Account funding transactions are subject to a 2% fee.
  • Getting the Wise debit card has a one-time fee of 9 USD.
  • Converting money incurs a fee that varies by currency, starting from 0.43%.
  • Holding money in your account in 40+ currencies is free.
  • Receiving money is free when you receive account details in nine currencies, including USD, EUR, AUD, CARD, and GBP. Receiving non-wire transfers in these currencies is also free, while receiving USD wire payments incurs a fixed fee of 4.14 USD.

Go To Wise

Revolut account without opening fees, with varying monthly fees

  • The Revolut Standard account can be opened without account opening fee, with no monthly fees.
  • Transfer money instantly to your friends on Revolut with no fees, regardless of your location.
  • Send and receive money in 28 currencies to anyone with no hidden fees.
  • Revolut offers zero fee withdrawals at over 55,000 ATMs within its network.
  • Other benefits include personalized cards, under 18 accounts (up to 5 under 18’s) with full access to under 18 features, and interest on savings accrued daily at a 4.25% APY.
  • Revolut provides market-leading exchange rates in over 150 currencies.
  • Currency exchange is without any fees, with a monthly limit of $1000.

With providers like Wise and Revolut, you can enjoy the convenience of online bank accounts while accessing a range of local and global features and services that work for you and your money – not the other way round.

Go to Revolut

How do I fund my account?

You’ll usually be able to fund your online US bank account initially with a bank transfer or card payment, and can also often set up direct deposit payments to have your salary or other ongoing payments deposited there. 

These main funding options provide flexibility and convenience to customers, ensuring that the funding process is a smooth and hassle-free experience: 

  • Cash Deposits: Some banks, like Bank of America or US Bank, offer the option to fund your account by depositing cash at their branch locations. Simply visit a branch near you and deposit the money into your account.
  • Money Transfers: Transferring money from another bank account is a popular, convenient, and secure way to add funds to your account. All you have to do is go to your existing bank’s online platform or app to initiate the transfer. 
  • Card Payments: Many banks let their customers top up their accounts using debit or credit cards, which is a particularly handy option if you want to make an immediate online deposit. Wise is a great example, offering a multi-currency account that can be topped up using card payments. 
  • Digital Wallet Technology: Digital wallets, provided by banks such as Bank of America as well as brands like Apple and Google Wallet, send money fast and conveniently to your bank. If you’re using Apple Wallet, simply open the app, tap your cash card and the ‘More’ button and then ‘Transfer to Bank’.

Can I open an online bank account in the US from abroad?

Few traditional US banks allow you to open a USD account without a US residential address. Instead, mainstream banks tend to point you towards their expat and international banking divisions which can mean high fees or restrictive eligibility requirements.

If you’re looking for an easier way to get US bank details without a US proof of address, check out Revolut or Wise which both offer online and in-app account opening for people from a broad range of countries.

Conclusion: Open account online in US

You can open a bank account online in the US with either a traditional bank or a digital provider. Mainstream banks usually ask you to have a US based residential address to access account products – but if you don’t have this available, you can still get an account up and running with online specialist services like Wise or Revolut.

Go To WiseGo to Revolut

Open online bank account in US FAQs

Which banks allow you to open an account online?

Many banks in the US allow customers to open accounts online – check out Bank of America, US Bank, Wells Fargo or Citibank to start your research.

Can I open a bank account online without going to the bank?

You can often open a US bank account online without needing an appointment, as long as you are a US resident, aged over 18 and have your SSN handy. Otherwise, you may need to head to a branch.

What is the easiest bank account to open online?

Many banks let customers open accounts easily online – which is easiest for you depends on your personal situation. US Bank states that their application takes just 5 minutes, while Bank of America suggests an online application takes about 10 minutes.

Can I open an account with no money?

Most mainstream US banks require you to make an initial deposit to activate your account. If you want to open a US account online with no money, check out alternative providers like Wise and Revolut instead.

What bank does not have a monthly fee?

Most large US banks offer basic checking accounts which have easy ways to waive the monthly fees by signing up for extra products, having payments deposited into the account or maintaining a minimum balance.

Can I open a checking account online instantly?

Most U.S. banks allow you to open a checking account online in just a few minutes. However, this varies depending on the bank and its policies.

Can I open a bank account online with no deposit?

Yes, it’s possible to open a bank account online with no initial deposit, with many banks offering no-deposit or low-deposit options.


Claire Millard
Fintech Content Writer
Claire Millard is a content and copywriter with a specialty in international finance. Her work has featured in The Times and The Telegraph, as well as industry magazines and leading personal finance blogs.
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Seyma Mektepli
Seyma is an experienced content writer and editor-in-chief at Exiap, delivering informative articles on personal finance, and money transfers.
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Last updated
August 8th, 2023