What to Expect When Opening a Checking Account

By Jennifer Tucker
October 21, 2022 | 3 Min. Read

Sometimes managing your money can feel like a chore, especially when you’re thinking about opening a bank account. Luckily, many banks and credit unions have streamlined the account opening process to make it quicker and easier to get started with your new checking account.

If you’ve done your research to find the best checking account and you’re ready to open an account, it’s helpful to understand what the process will look like. Here’s what to expect when opening a new checking account:

How long does it take to open a checking account?

You can usually count on it taking less than 30 minutes to open a checking account. Sometimes, the account opening process can take longer, for example, if you’ve had a freeze on your credit file and the bank needs to contact a credit bureau during the account opening process.

What information do I need to provide when I open a new checking account?

The requirements for account opening vary from bank to bank and credit union to credit union. Some of the information you usually need to provide when opening a new checking account include:

  • Your legal name
  • Your government-issued photo ID
  • Your Social Security number or tax identification number
  • Your date of birth
  • Your occupation
  • Your address and phone number
  • An initial opening deposit

How much does it cost to open a checking account?

In most cases, there is no fee to open a checking account. However, the bank or credit union may require a minimum deposit (often as low as $25; at Marine it’s $5.) to open an account. It’s helpful to research and understand the requirements before opening an account so that you aren’t caught off guard by fees you didn’t expect.

Can I open a checking account online?

For added ease and convenience, many financial institutions now offer digital account opening online. This can save you a trip to the bank to open an account. It’s often as easy as going to the bank’s website and clicking “Apply Now” or “Open an Account.” When it comes to the information you need to provide, online account opening is similar to opening an account in person. Your application will help the bank determine your eligibility for an account, and after you’re approved, your debit card will arrive in the mail.

Can I open a checking account online with no money?

Yes! Some banks and credit unions allow you to open a checking account online without an initial deposit. However, you usually need to fund the account within a certain period of time. For example, Marine Credit Union requires that an account opened online be funded within 30 days. Other banks may ask you to fund an initial deposit immediately. This can often be done electronically from another existing account and will require you to provide a routing number and account number.

Open a Checking Account with Marine Credit Union

When you open a Marine Credit Union Checking Account, you open new possibilities. We can help you find the checking account that’s right for you.