Ready to take a big step toward your financial goals? A bank account can be your best ally. It keeps your money safe, gives you quick access to your funds, saves you money on fees, and brings financial peace of mind.
FDIC deposit insurance protects your money in deposit accounts at FDIC-insured banks in the event of a bank failure.
Pay bills fast from a smartphone, tablet, or computer. Track your spending easily, too.
Having a deposit account with a bank can offer you savings from check-cashing fees. Depositing checks is free in a bank. Paying bills can be cheaper without money orders.
Establishing a relationship with a bank through a deposit account can be a first step that can lead to other financial products and help you achieve your financial goals.
Banks offer savings account to grow your money, loans for big purchases, and financial advice.
Banks have special accounts to save for your kids' education or your business' growth.
With mobile banking and alerts, it's easy to manage your money anytime, anywhere.
Federal laws can protect you in the event of a debit card error or unauthorized electronic transaction under certain circumstances, if this happens to you, notify your bank right away.
The FDIC provides deposit insurance to protect your money in the event of a bank failure. Your deposits are automatically insured to at least $250,000 at each FDIC-insured bank.
Does the account have a monthly fee? Can you avoid it by keeping a certain balance or making regular deposits?
Will you be charged a fee if you spend more than what's in your account? Some accounts don't let you overspend, so no overdraft fees.
Are there fees for using the bank's ATMs? What about using other banks' ATMs?
Does the account offer email or text alerts to help you manage your money?
Can you pay bills online on the bank's website for free using your phone or computer?
Is having a bank branch nearby important to you?
Are there fees for doing transactions with a bank teller or talking to customer service?
You must be at least 18 in most places. If you're under 18, a parent, a guardian, or other trusted adult may be able to help you open an account.
Bring your Social Security number or Individual Taxpayer Identification Number (ITIN). Use your driver's license, state or military ID, or passport to verify your identity. Some banks also accept other forms of ID.
Apply in-person, online, or through a mobile app.
The amount may vary, but you may be able to open a bank account with as little as $25. You can use a debit card, prepaid card, electronic transfer, or visit a branch to make your first deposit.
Sign a signature card and other documents, either electronically or in person.
Activate online or mobile banking and any debit or ATM cards. Ask for help if you are not sure how to use these tools.
Drive positive change in your community through the FDIC's #GetBanked campaign. Your support as a government agency, community group, or consumer-focused organization is crucial.
These organizations also have lists of banks where you can open an account online with a low opening deposit:
Bank On Open an affordable bank account online now.
The FDIC, or Federal Deposit Insurance Corporation, is an independent agency created by Congress to maintain stability and public confidence in the nation's financial system. The FDIC provides deposit insurance to protect your money in the event of a bank failure. Your deposits are automatically insured to at least $250,000 at each FDIC-insured bank.
Yes, you can! Many banks offer accounts with low or no minimum balance requirements. This means you don't need a lot of money to open and keep your account.
That's okay. Some banks offer 'second chance' banking, which is designed for people who have had banking problems before. These accounts can help you rebuild your banking history. Also, certified Bank On accounts have low and transparent costs and don’t allow overdraft or insufficient fund fees.
Yes, many banks allow you to open an account even if you're not a U.S. citizen. You might need different forms of identification, like a foreign passport, a consular ID, or Individual Taxpayer Identification Number (ITIN).
You can deposit money by visiting a bank branch, using an ATM, through direct deposit from your job, or by using a mobile app to deposit checks.
Yes, many banks offer accounts specially designed for young people. These accounts often have features to help kids and teens learn about saving and managing money.
Most banks offer online banking and mobile apps where you can check your balance, see transactions, and manage your account anytime on your computer or mobile device. You can also receive alerts about your account balance.
Report your lost debit card to your bank right away. Federal laws can protect you in the event of a debit card error or unauthorized electronic transaction under certain circumstances, so contact your bank as soon as possible to report your lost card get a replacement card.
If you're interested in understanding more about banking and how it can benefit you, the FDIC's Money Smart program is a fantastic resource. This free educational program offers valuable information on managing finances, budgeting, and using credit wisely. It's designed to help you make informed banking decisions and improve your financial health.
We're thrilled you're interested in helping! To get involved, visit our Get Involved page. There, you'll find a variety of resources like handouts, online ad graphics, a social media toolkit, and more, which you can use to spread the word in your community or through your personal or social networks. Your support plays a crucial role in empowering more people to take control of their financial future.
The #GetBanked campaign started during the COVID-19 pandemic to help people learn how to open a bank account online, especially for receiving tax refunds or government stimulus payments quickly and safely. In April 2021, the FDIC initiated a public awareness campaign in Atlanta and Houston, using various media ads in English and Spanish to inform about banking benefits. The campaign expanded in 2022 to Dallas, Detroit, and Los Angeles, focusing on the tax season and promoting the use of direct deposit for tax refunds.
The FDIC's work on accessible banking goes back over a decade. In 2010, the agency began to help identify accounts that were transparent, affordable, sustainable, and insured by the FDIC (i.e., Model Safe Accounts). Inspired by the FDIC’s Model Safe Account, the Cities for Financial Empowerment (CFE) Fund established the Bank On National Account Standards, including accounts that have low and transparent costs and no overdraft fees and are fully functional. Over 400 accounts at more than 300 banks have been independently certified by the National Consumer Law Center and are are certified under these standards, with widespread national availability. The campaign and collaborations like Bank On aim to reach people new to banking and spread awareness about the benefits of having a bank account.