How to open a Bank of America account full guide full guide : If you’re new to the US, or just looking for a handy account to manage your money in USD, you might be wondering how to open an account at Bank of America®.
Read this guide for all you need to know about how to set up a Bank of America account — plus we’ll highlight Wise as a handy way to make payments from Bank of America to 80+ countries with the mid-market exchange rate.
How to open a Bank of America account: step by step
As one of the country’s biggest banks, Bank of America has a great range of checking and saving accounts, as well as options for more specialist products and services, so the chances are that there’ll be something that fits your needs.
The exact process to open a Bank of America account may vary based on the specific account you select, and your personal circumstances — but the broad steps are usually very similar.
Let’s take a look at how to open a Bank of America account step by step.
1. Choose the right account for you
Bank of America offers checking and saving accounts, CD accounts and IRAs among other products and services¹. Before you get started you’ll need to review the options online to see which might suit you.
Take a look at the features and fees of different account products to work out which has all you need, with the lowest available fees.
2. Find out all the requirements to open a Bank of America account
Once you’ve picked the account you prefer, it’s time to check the eligibility criteria. The requirements to open a bank account at Bank of America vary based on the specific account and your own circumstances.
For example, the Bank of America SafeBalance Banking account offers discounted fees for students. To qualify for this, you’ll need to fulfill the eligibility requirements — including being enrolled in school or an educational or vocational program, and under 25 years old.
Similarly, if you’re a US non-permanent resident or Green Card holder, you might find the requirements and the account opening process are a little different for you compared to a US citizen².
3. Check all the documents needed to open a Bank of America account
Next, it’s time to gather the information and documents needed to open a bank account with Bank of America.
If you’re a US permanent resident or citizen, you’ll often be able to apply online with just the following information:
If you don’t have all of these pieces of information — or if you’re a non-permanent resident — you’ll need to visit a Bank of America financial center to open an account.
Non-permanent residents are required to provide:
4. Fill out the application
Once you’ve checked eligibility and assembled the information and documents needed, you can complete your Bank of America account application online or in person at a financial center.
If you’re applying online you can save and return to your application later if needed.
5. Make sure to know what’s the minimum amount needed to open an account with Bank of America
Finally before you can start using your account you’ll need to deposit the minimum amount to open an account at Bank of America, which can vary based on the specific account.
For example, to open the SafeBalance Banking account you need to deposit 25 USD, while the minimum opening deposit is 100 USD for both the Advantage Plus Banking and the Advantage Relationship Banking accounts³. Pay in with a debit card, bank transfer or check.
Once your deposit is approved and your account is verified, you’re ready to go. You’ll receive important documents by email, and everything else you need by mail a week or so later.