How much money do you need to open a Bank of America account?

You will need at least $25 to open a Bank of America account. That’s the minimum amount required to open a Bank of America Advantage SafeBalance Banking account, though most other Bank of America checking and savings accounts require an initial deposit of at least $100.

A new customer will also need to complete an application to open a Bank of America account. But that mainly just involves entering personal information such as your home address, Social Security number or Tax ID number, and e-mail address.

How to Fund the Deposit to Open a Bank of America Account

You can fund your initial deposit by setting up a transfer from your current bank account by phone, on your computer, or on a mobile device. You can also pay with cash, a debit card, a money order, or a check at a local Bank of America branch.

If you’re not funding your account with cash or a check, you will need to provide either the bank account number or debit card number that you’ll be using to transfer funds to your new Bank of America account. Customers applying for an account at a local branch will need to provide two forms of ID. Acceptable forms of ID include a driver’s license, passport, or state ID.