How to Open an Account at a Black-Owned Bank Online

Guides · Updated October 2026

A lot of people assume supporting a Black-owned bank means finding a branch across town and taking a number. In 2026, it usually means ten minutes on your phone. Several Black-owned banks now let you open and manage accounts entirely online, no matter where you live. I walked through the process myself, and here is exactly how it works, what you will need, and the mistakes to avoid when you switch.

First: pick a bank that does fully online signup

Not every Black-owned bank offers online account opening. Some smaller community banks still want you in a branch, especially for business accounts. The online friendly options I would start with:

OneUnited Bank, the largest Black-owned bank in the country and the first Black internet bank. Customers anywhere in the US can open accounts online. You get a digital Visa debit card within about 24 hours and the physical tap to pay card arrives in up to 14 days. Their pitch includes getting paid up to two days early and access to more than 100,000 surcharge free ATM locations.
Citizens Trust Bank of Atlanta, operating since 1921, offers an online checking account alongside its Georgia and Alabama branches.
City First Bank, the product of the 2021 Broadway Federal merger, serves customers in DC and California with both branches and online banking.
Greenwood, the digital banking platform built for Black and Latinx communities, is online only by design.

Use our directory to search by state if you would rather bank somewhere with a branch you can visit. Either way, the steps below are the same.

Step 1: Gather what you will need

Online bank applications all ask for the same things, so have them ready: a government issued photo ID (driver's license or passport), your Social Security number, your home address, and a way to fund the account, usually a debit card or the routing and account numbers of your current bank. Some banks ask for a second ID or proof of address. Nothing exotic, just have it on hand so you do not stall halfway through.

Step 2: Complete the application, usually 5 to 10 minutes

On the bank's site, choose the account type, checking, savings, or both. You will fill in your personal details, agree to the disclosures, and set up a username and password. The bank runs an identity verification check, the same kind every bank does. Most applicants are approved quickly; if the system cannot verify you automatically, the bank will email you with next steps. At OneUnited, for example, you select your username and password during the application or via the approval email, and you are set for online banking on first login.

Step 3: Fund it, but do not move everything on day one

Here is the advice I wish more people heard. As Bank Black USA's leadership has put it: you do not have to move all your money at once. You can start with savings and build your way up to checking. Opening a savings account with a few hundred dollars gets your foot in the door, starts the relationship, and lets you test the mobile app and customer service before you commit your direct deposit. Minimum opening deposits at these banks are typically modest, but confirm the exact number on the application page before you start.

Step 4: Move your money in the right order

Once you are comfortable, move in this sequence: first, set up direct deposit to the new account; second, move your automatic bill payments and subscriptions one by one; third, leave the old account open with a small cushion for a full billing cycle to catch anything you forgot; fourth, close the old account. People who close the old account first are the ones who get hit with a surprise overdraft from a forgotten annual subscription.

What to check before you commit

Read the disclosures like you would for any bank. Specifically look at minimum balance requirements, monthly maintenance fees and how to waive them, wire transfer fees, and the ATM network. A smaller bank with a strong surcharge free network (OneUnited advertises 100,000+ locations through Allpoint and MoneyPass, including retail ATMs in places like Walgreens, CVS, and Target) can actually beat a big bank on ATM access. Also check the mobile app ratings. You will live in that app, so a 4+ star rating in the app stores is a good sign.

Is my money safe? Yes. Deposits at FDIC insured Black-owned banks are protected up to $250,000 per depositor, per institution, exactly like deposits at any major bank. Federally insured credit unions carry the same $250,000 protection through the NCUA. Insurance does not care who owns the bank.

The part nobody tells you

Opening the account is the easy part. The real friction is psychological: most of us keep our first bank out of inertia, not loyalty. I would frame the switch as an experiment, not a divorce. Keep both accounts for a month. Run your normal life through the new one. If the app is good and the service is responsive, the old account closes itself in your mind, and then you close it for real. And here is the part that matters for the bigger picture: deposits at these banks get lent back into their communities at notably higher rates than mainstream banks. A 2019 FDIC study found that mission driven banks, which include Black-owned minority depository institutions, originate a substantially higher share of their mortgages and small business loans in low to moderate income neighborhoods. Your checking account balance becomes somebody's business loan. That is not marketing copy, it is how banking works when the bank is small and local.

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Frequently asked questions

Do I have to be Black to open an account at a Black-owned bank?

No. Black-owned banks and credit unions are open to everyone. Their mission centers on serving Black communities, but anyone can open an account, apply for a loan, or use their services.

Can I really do everything online with no branch nearby?

With banks like OneUnited and Greenwood, yes: account opening, mobile deposit, bill pay, and debit card management are all digital, and the ATM networks are national. For cash deposits, check whether the bank accepts deposits at partner ATMs or retail locations before you commit.

What if the bank I want does not offer online account opening?

Smaller community banks sometimes require an in-person visit, particularly for business accounts. If there is no branch near you, pick an online friendly bank for your everyday accounts. You can always open a second relationship later. The directory notes which institutions have online availability where that information is published.

Will switching banks hurt my credit score?

No. Opening a checking or savings account does not affect your credit score. Banks may run a ChexSystems check, which is a banking history report, not a credit inquiry. Only applying for credit products like loans or credit cards can affect your score.