Opening a bank account can take anywhere from a few minutes to up to 10 days, depending on the bank, the method of application, and the verification process.
- Online account opening: If you apply online and have all necessary documents ready, the application itself can take about 10 to 15 minutes. However, processing your application and issuing your account number might take 1 to 2 days. Some online banks, like N26, allow you to open an account in just minutes with minimal paperwork, though receiving your debit card may take about a week
- In-person account opening: Opening an account at a branch typically takes longer, around 30 minutes to an hour, especially if you need to wait for an appointment. If you bring cash to deposit and have all paperwork ready, your account can be operational within minutes. Debit cards may be issued immediately as a temporary card, with the permanent card arriving by mail in 7 to 10 business days
- Verification and processing: Banks often verify your identity and check banking history through services like ChexSystems, which can affect how quickly your account is approved. If additional verification is needed, the process can extend to 3-5 business days or longer
- In some countries: For example, in Germany, opening a bank account in person can take about 10 to 30 minutes, but receiving your debit card and PIN by mail can take 1 to 2 weeks since they are sent separately for security reasons
- Some banks advertise up to 10 days: For example, NatWest states that account opening may take up to 10 days depending on identification provided, but existing customers can have new accounts opened within one working day
In summary, the fastest you can open a bank account is within minutes online or in person if all documents are ready and verification is straightforward. However, fully accessing and using the account with a debit card and PIN can take from several days up to two weeks due to mailing times and security procedures
