How to Open a Bank Account in Pennsylvania, United States: Re

# How to Open a Bank Account in Pennsylvania, United States: Requirements, Fees, and Tips (2025)

Opening a bank account in Pennsylvania can be a straightforward process, whether you are a resident or a non-resident. This guide will help you navigate the available bank types, account options, associated fees, onboarding steps, and specific considerations for residents and non-residents alike.

Available Bank Types in Pennsylvania

National BanksPennsylvania is home to several national banks that offer a wide range of services. Some of the most recognized names include:

- Bank of America
- Wells Fargo
- Chase Bank

These banks typically provide robust online banking features, nationwide ATM access, and various account options.

Regional BanksRegional banks are also prevalent in Pennsylvania. They may offer more personalized customer service and community-focused banking. Notable regional banks include:

- PNC Bank
- TD Bank
- Citizens Bank

Digital BanksDigital banks have gained popularity due to their user-friendly applications and lower fees. Some well-known digital banks include:

- Chime
- Varo Money
- Ally Bank

These banks often have no physical branches, which helps them reduce overhead costs and pass savings onto customers.

Account Types

When opening a bank account in Pennsylvania, you can choose between several types of accounts:

Checking AccountsChecking accounts are designed for everyday transactions. Features may include:

- Debit cards
- Online and mobile banking
- Bill payment options

Savings AccountsSavings accounts are intended for saving money over time, offering interest on your deposits. Key features include:

- Higher interest rates compared to checking accounts
- Limited withdrawal capabilities

Certificates of Deposit (CDs)CDs are time deposits that offer higher interest rates in exchange for keeping your money locked in for a specified term.

Typical Fees and Minimums

Fees and minimum balance requirements can vary significantly between banks and account types. Here are some common fees you might encounter:

- Monthly Maintenance Fees: Ranging from $5 to $15, these fees can often be waived by maintaining a minimum balance.
- ATM Fees: Using an out-of-network ATM may incur fees of $2 to $5 per transaction.
- Overdraft Fees: If you spend more than your account balance, overdraft fees can be around $30 per transaction.

Minimum balance requirements for checking accounts can range from $0 to $1,500, while savings accounts often require a minimum deposit of $25 to $100 to open.

Onboarding Steps

Know Your Customer (KYC) RequirementsWhen opening a bank account, banks follow KYC regulations to verify the identity of their customers. The following documents are typically required:

- For Residents:
- Government-issued ID (e.g., driver’s license or passport)
- Social Security Number (SSN)
- Proof of address (e.g., utility bill or lease agreement)

- For Non-Residents:
- Government-issued ID
- Individual Taxpayer Identification Number (ITIN) or Employer Identification Number (EIN)
- Proof of address (may be less stringent; some banks may accept international documents)

Steps to Open an Account1. Choose the Right Bank and Account Type: Research available banks and their offerings.2. Gather Required Documentation: Prepare the necessary documents based on your residency status.3. Visit the Bank or Apply Online: Many banks offer online account opening, while others may require an in-person visit.4. Complete the Application: Fill out the application form with personal information.5. Make an Initial Deposit: Fund the account with the required minimum.6. Review Account Terms: Familiarize yourself with fees, withdrawal limits, and account features.

Resident vs. Non-Resident Notes

ResidentsResidents of Pennsylvania typically find it easier to open bank accounts. They can provide SSNs and local identification, making the KYC process straightforward. Many banks offer tailored services for residents and may have special promotions.

Non-ResidentsNon-residents may face additional hurdles, such as stricter identification requirements. Some banks are more accommodating to non-residents, particularly digital-only banks, which may have less stringent documentation requirements. However, it’s essential to check if the bank accepts international documents and whether they allow non-residents to open accounts.

FAQs

1. What is the minimum age to open a bank account in Pennsylvania?Most banks require you to be at least 18 years old. Minors can open joint accounts with a parent or guardian.

2. Are there any fees for opening a bank account?Some banks may charge a one-time account opening fee, but many offer free checking or savings accounts.

3. Can I open a bank account online in Pennsylvania?Yes, many banks allow you to open accounts online. Ensure you have the required documents ready.

4. What if I don’t have a Social Security Number?Non-residents can apply for an Individual Taxpayer Identification Number (ITIN) to satisfy KYC requirements.

5. Are there banks that cater specifically to non-residents?Yes, some digital banks are more flexible regarding documentation and may cater to non-residents.

6. How long does it take to open a bank account?Opening a bank account can take as little as 10-15 minutes online or up to an hour in person, depending on the bank's processes.

7. Can I use my foreign address to open a bank account?Some banks may accept foreign addresses, but it varies by institution. Check with the bank for specific requirements.

Opening a bank account in Pennsylvania is a manageable task with the right information. By understanding the bank types, account options, fees, and onboarding steps, you can confidently choose the best banking solution for your needs, whether you are a resident or a non-resident.

About the Author

Marks Toms – Editor-in-Chief
Marks oversees editorial policy, compliance, and fact-checking at bankaccountsopen. Read more articles