Banking Checking Accounts

8 Easiest Bank Accounts To Open Online [2025]: Instant Approval

Opening a bank account online is as easy as one, two, three with these options.

By Danielle Letenyei
and Christopher Murray

Edited by Stephanie Trejos

Updated April 3, 2025

Today, opening a bank account online is easier than ever. Many financial institutions allow you to open an account without an opening deposit and don't require you to maintain a certain balance amount. Some don't even need to look at your credit and banking history before letting you open an account.

The financial institutions we recommend all offer bank accounts that are simple and quick to open online. Based on our research, Discover, SoFi®, U.S. Bank, Truist, and Bank of America have some of the smoothest application processes and take ten minutes or less to open online. Most of our picks take five minutes or less.

Featured Checking Account

Reach Your Savings Goals Faster

5.0

2025 award winner Best Checking and Savings Combo

SoFi Checking and Savings Benefits

Earn up to 3.80% APY¹ New and existing Checking and Savings members who have not previously enrolled in Direct Deposit with SoFi are eligible to earn a cash bonus of either $50 (with at least $1,000 total Direct Deposits received during the Direct Deposit Bonus Period) OR $300 (with at least $5,000 total Direct Deposits received during the Direct Deposit Bonus Period). Cash bonus will be based on the total amount of Direct Deposit. Direct Deposit Promotion begins on 12/7/2023 and will be available through 1/31/2026. See full bonus and annual percentage yield (APY) terms at <a href="http://www.sofi.com/banking#1">sofi.com/banking#1</a>. SoFi Checking and Savings is offered through SoFi Bank, N.A., Member FDIC. SoFi members who enroll in SoFi Plus with Direct Deposit or by paying the SoFi Plus Subscription Fee every 30 days or with $5,000 or more in Qualifying Deposits during the 30-Day Evaluation Period can earn 3.80% annual percentage yield (APY) on savings balances (including Vaults) and 0.50% APY on checking balances. There is no minimum Direct Deposit amount required to qualify for the stated interest rate. Members without either SoFi Plus or Qualifying Deposits, during the 30-Day Evaluation Period will earn 1.00% APY on savings balances (including Vaults) and 0.50% APY on checking balances. Only SoFi Plus members are eligible for other SoFi Plus benefits. Interest rates are variable and subject to change at any time. These rates are current as of Jan. 24, 2025. There is no minimum balance requirement. Additional information can be found at <a href="http://www.sofi.com/legal/banking-rate-sheet">http://www.sofi.com/legal/banking-rate-sheet</a>. See the SoFi Plus Terms and Conditions at <a href="https://www.sofi.com/terms-of-use/#plus">https://www.sofi.com/terms-of-use/#plus</a>. and collect up to a $300 cash bonus with direct deposit or $5,000 or more in qualifying deposits² SoFi members who enroll in SoFi Plus with Direct Deposit or by paying the SoFi Plus Subscription Fee every 30 days or with $5,000 or more in Qualifying Deposits during the 30-Day Evaluation Period can earn 3.80% annual percentage yield (APY) on savings balances (including Vaults) and 0.50% APY on checking balances. There is no minimum Direct Deposit amount required to qualify for the stated interest rate. Members without either SoFi Plus or Qualifying Deposits, during the 30-Day Evaluation Period will earn 1.00% APY on savings balances (including Vaults) and 0.50% APY on checking balances. Only SoFi Plus members are eligible for other SoFi Plus benefits. Interest rates are variable and subject to change at any time. These rates are current as of Jan. 24, 2025. There is no minimum balance requirement. Additional information can be found at <a href="http://www.sofi.com/legal/banking-rate-sheet">http://www.sofi.com/legal/banking-rate-sheet</a>. See the SoFi Plus Terms and Conditions at <a href="https://www.sofi.com/terms-of-use/#plus">https://www.sofi.com/terms-of-use/#plus</a>.
No account, overdraft, or monthly fees³ We do not charge any account, service or maintenance fees for SoFi Checking and Savings. We do charge a transaction fee to process each outgoing wire transfer. SoFi does not charge a fee for incoming wire transfers, however the sending bank may charge a fee. Our fee policy is subject to change at any time. See the SoFi Checking & Savings Fee Sheet for details at <a href="http://sofi.com/legal/banking-fees/">sofi.com/legal/banking-fees/</a>
Get your paycheck up to two days early⁴ Early access to direct deposit funds is based on the timing in which we receive notice of impending payment from the Federal Reserve, which is typically up to two days before the scheduled payment date, but may vary.
Access additional FDIC insurance up to $3 million⁵ SoFi Bank is a member FDIC and does not provide more than $250,000 of FDIC insurance per depositor per legal category of account ownership, as described in the FDIC’s regulations. Any additional FDIC insurance is provided by the SoFi Insured Deposit Program. Deposits may be insured up to $3M through participation in the program. See full terms at <a href="http://sofi.com/banking/fdic/sidpterms">SoFi.com/banking/fdic/sidpterms</a>. See list of participating banks at <a href="http://sofi.com/banking/fdic/participatingbanks">SoFi.com/banking/fdic/participatingbanks</a>.

5.0

Open an account with SoFi here

How we evaluate products

The bank accounts we chose for our list are all easy to open online. When researching banks and accounts to find the easiest accounts to get approved for and open, we considered the following factors:

Application process: Many bank accounts can now be opened online, but only the best offer quick, painless applications. We considered options from dozens of institutions and narrowed our list down to only those you can open in 10 minutes or less, giving preference to those you can open in five minutes or less.
Approval time: Getting approved for a bank account after applying can take time, sometimes a couple of business days. During our research, we looked for accounts offering faster average processing times and those that may approve you within the same day or even instantly. Note that brick-and-mortar banks tend to take longer to process applications, but we included options from a couple of these for those who prefer traditional banks to online banks.
Digital tools: Setting up your new account shouldn’t feel stressful or frustrating. In our analysis, we favored online bank accounts with exceptional online tools and mobile apps that allow for seamless account setup and take little time to learn how to use.
Minimum opening deposits: You’re typically required to deposit funds into a new bank account shortly after opening it, and some accounts have minimum opening deposit requirements you must meet to open. For this list, we narrowed account options to those requiring opening deposits of $100 or less and featured many without minimums. Many bank accounts require you to deposit some funds within 30 to 60 days of opening.
Monthly fees: Even though monthly fees don’t impact how easy a bank account is to open, they do impact how easy an account is to keep. We primarily looked for accounts without monthly maintenance fees but did include a few options with waivable fees where we felt the perks justified this disadvantage.

Our list incorporates a variety of banks, including online banks and brick-and-mortar options, to give you choices that fit your personal preferences. Some banks on the list may be FinanceBuzz partners, but those relationships do not impact which ones we've chosen to include. We did not evaluate all banks when compiling this list.

Easiest bank accounts to open online

Account	Best for	Time to open	Monthly fees	Minimum opening deposit
Discover Cashback Debit	Cash back on purchases	5 minutes or less	$0	$0
SoFi Checking and Savings	High APY² <p>SoFi members who enroll in SoFi Plus with Direct Deposit or by paying the SoFi Plus Subscription Fee every 30 days or with $5,000 or more in Qualifying Deposits during the 30-Day Evaluation Period can earn 3.80% annual percentage yield (APY) on savings balances (including Vaults) and 0.50% APY on checking balances. There is no minimum Direct Deposit amount required to qualify for the stated interest rate. Members without either SoFi Plus or Qualifying Deposits, during the 30-Day Evaluation Period will earn 1.00% APY on savings balances (including Vaults) and 0.50% APY on checking balances. Only SoFi Plus members are eligible for other SoFi Plus benefits. Interest rates are variable and subject to change at any time. These rates are current as of Jan. 24, 2025. There is no minimum balance requirement. Additional information can be found at <a href="http://www.sofi.com/legal/banking-rate-sheet">http://www.sofi.com/legal/banking-rate-sheet</a>. See the SoFi Plus Terms and Conditions at <a href="https://www.sofi.com/terms-of-use/#plus">https://www.sofi.com/terms-of-use/#plus</a>.</p>	About 5 minutes	$0³ <p>We do not charge any account, service or maintenance fees for SoFi Checking and Savings. We do charge a transaction fee to process each outgoing wire transfer. SoFi does not charge a fee for incoming wire transfers, however the sending bank may charge a fee. Our fee policy is subject to change at any time. See the SoFi Checking & Savings Fee Sheet for details at <a href="http://sofi.com/legal/banking-fees/">sofi.com/legal/banking-fees/</a></p>	$0
U.S. Bank Smartly^® Checking	Opening through a mobile app	5 minutes or less	$0 or $6.95	$25
Truist One Checking	No overdraft fees	About 10 minutes	$12 (can be waived)⁶ <p>The Monthly Maintenance Fee (MMF) can be waived for the Truist One Checking account for each statement cycle by:</p> <p><b>Option 1: Making $500 or more in total qualifying Direct Deposits per statement cycle.</b> A qualifying direct deposit is an electronic credit via ACH deposited to your account during the current statement cycle. Pre-authorized transfers made from one account to another or deposits made via a branch, ATM, online transfer, mobile device, debit card/prepaid card number or the mail are not eligible to meet this requirement.</p> <p><b>Option 2: Maintaining a total combined ledger balance of $500 or more in any Truist related accounts across personal deposits and all investments as reflected on the business day before your statement cycle end date. </b>A Ledger Balance is actual balance in your account on a specific day and does not reflect any holds or pending transactions. Your Total Combined Balance is the sum of all balances within the Truist personal deposit accounts (checking, savings, money market or CDs), IRAs or brokerage accounts introduced through Truist Investment Services, Inc. Related Accounts automatically includes all applicable accounts associated with primary and secondary account holders.</p> <p><b>Option 3: Having a personal Truist credit card, mortgage or consumer loan, excluding LightStream®. </b></p> <p><b>Option 4: Having a linked Small Business Checking Account.</b> Eligible Small Business account types include: Truist Dynamic Checking, Business Interest Checking, Simple Business Checking and Business Value 200.</p> <p><b>Option 5: Primary client is a student.</b> The waiver for a student requires they are listed as the primary account owner and they provide their anticipated graduation date. The waiver expires on the provided graduation date. On this date, the account is subject to the Monthly Maintenance Fee unless at least one waiver criterion is satisfied.</p> <p><b>Option 6: Primary client is under the age of 25 or age 62 and older.</b></p> <p>Truist Bank, Member FDIC. ©2024, Truist Financial Corporation. Truist, Truist Purple and the Truist Logo are service marks of Truist Financial Corporation.</p>	$50
Chime Checking⁷ <p class="">Chime is a financial technology company, not a bank. Banking services and debit card provided by The Bancorp Bank, N.A. or Stride Bank, N.A.; Members FDIC. <br></p>	Getting approved with fair or bad credit	5 minutes or less	$0⁸ <p>There’s no fee for the Chime Savings Account. Cash withdrawal and Third-party fees may apply to Chime Checking Accounts. You must have a Chime Checking Account to open a Chime Savings Account.</p>	$0
Bank of America Advantage Plus Banking®	Flexible banking	About 10 minutes	$0 or $12	$100⁹ <p>Minimum opening deposit: $25 for Bank of America Advantage SafeBalance Banking®, $100 for Bank of America Advantage Plus Banking ® and Bank of America Advantage Relationship Banking®. </p>
Current	Building credit	5 minutes or less	$0 in monthly fees	$0

Discover Cashback Debit Account

Best for getting cash back on purchases

2025 award winner Best Online Checking Account

4.5

Discover® Cashback Debit

Discover® Cashback Checking

Earn 1% cash back on up to $3,000 in debit card purchases each month.¹⁰ No minimum deposit or balance. FDIC Insured.

Learn More

Account features

Minimum deposit: $0
Fees: No monthly fees or fees for insufficient funds or overdrafts
ATM Access: Over 60,000 fee-free ATMs
FDIC Insured: Yes

The Discover® Cashback Debit Account stands out from other easy-approval checking accounts because you can earn 1% cash back on debit card purchases up to $3,000 each month.¹¹ Earn 1% cash back on up to $3,000 in debit card purchases each month. See Deposit Account Agreement for details on transaction eligibility, limitations and terms. Deposit Account Agreement can be found at <a href="https://www.discover.com/content/dam/dfs/online-banking/documents/NationalDepositAccountAgreement.pdf">https://www.discover.com/content/dam/dfs/online-banking/documents/NationalDepositAccountAgreement.pdf</a>. This is an unusual (and valuable) perk for a checking account. Another outstanding feature is the ability to get your paycheck deposit up to two days early when you set up direct deposit. While this perk isn't uncommon in online bank accounts, Discover makes qualifying easier than most because it offers this feature to checking and savings customers.

Discover is an online bank without brick-and-mortar locations, but you can make cash deposits into your Discover account at any Walmart location (minimum of $20). This eliminates one of the major headaches of online banking.

Opening a Cashback Debit account is easy to do online. There's no initial deposit required to open the account, and your application won't impact your credit score. However, you must deposit money into the account within 45 days of opening it, or else it will be closed.

Pros

No initial deposit required
No minimum balance requirement
No monthly fees
1% cash back on up to $3,000 in debit card purchases each month
Application doesn't impact your credit score

Cons

You can only have one Cashback Debit account
Minimum amount of cash you can add is $20
There are daily limits on how much cash you can add

Visit Discover or read our Discover Checking review

SoFi Checking and Savings

Best for high APY

2025 award winner Best Checking and Savings Combo

5.0

SoFi Checking and Savings

SoFi Checking & Savings - Earn Up to $300 When You Set Up Direct Deposit

Earn up to 3.80% APY¹ and collect up to a $300 cash bonus with direct deposit or $5,000 or more in qualifying deposits.² FDIC Insured.⁵

Learn More

Account features

Minimum deposit: $0
Fees: No monthly fees or fees for insufficient funds or overdrafts³ We do not charge any account, service or maintenance fees for SoFi Checking and Savings. We do charge a transaction fee to process each outgoing wire transfer. SoFi does not charge a fee for incoming wire transfers, however the sending bank may charge a fee. Our fee policy is subject to change at any time. See the SoFi Checking & Savings Fee Sheet for details at <a href="http://sofi.com/legal/banking-fees/">sofi.com/legal/banking-fees/</a>
ATM Access: Over 55,000 fee-free ATMs within the Allpoint® network¹² We’ve partnered with Allpoint to provide you with ATM access at any of the 55,000+ ATMs within the Allpoint network. You will not be charged a fee when using an in-network ATM, however, third-party fees incurred when using out-of-network ATMs are not subject to reimbursement. SoFi’s ATM policies are subject to change at our discretion at any time.
FDIC Insured: Yes. SoFi is a Member, FDIC.⁵ SoFi Bank is a member FDIC and does not provide more than $250,000 of FDIC insurance per depositor per legal category of account ownership, as described in the FDIC’s regulations. Any additional FDIC insurance is provided by the SoFi Insured Deposit Program. Deposits may be insured up to $3M through participation in the program. See full terms at <a href="http://sofi.com/banking/fdic/sidpterms">SoFi.com/banking/fdic/sidpterms</a>. See list of participating banks at <a href="http://sofi.com/banking/fdic/participatingbanks">SoFi.com/banking/fdic/participatingbanks</a>.

Easy-to-open bank accounts can be rewarding, too. SoFi Checking and Savings account offers a seamless and user-friendly online banking experience with savings and checking features rolled into one account. It stands out to us for its up to 3.80% APY on savings balances with direct deposit and 0.50% (as of 01/24/25) APY on checking balances.

If that requirement gives you pause, one nice thing about this account is that there isn't a deposit minimum you need to reach to qualify for those rates. Any qualifying direct deposit activity will count, making SoFi® far less restrictive for new users than other platforms that require direct deposit.

Pros

High APY of up to 3.80% on savings balance with direct deposit² SoFi members who enroll in SoFi Plus with Direct Deposit or by paying the SoFi Plus Subscription Fee every 30 days or with $5,000 or more in Qualifying Deposits during the 30-Day Evaluation Period can earn 3.80% annual percentage yield (APY) on savings balances (including Vaults) and 0.50% APY on checking balances. There is no minimum Direct Deposit amount required to qualify for the stated interest rate. Members without either SoFi Plus or Qualifying Deposits, during the 30-Day Evaluation Period will earn 1.00% APY on savings balances (including Vaults) and 0.50% APY on checking balances. Only SoFi Plus members are eligible for other SoFi Plus benefits. Interest rates are variable and subject to change at any time. These rates are current as of Jan. 24, 2025. There is no minimum balance requirement. Additional information can be found at <a href="http://www.sofi.com/legal/banking-rate-sheet">http://www.sofi.com/legal/banking-rate-sheet</a>. See the SoFi Plus Terms and Conditions at <a href="https://www.sofi.com/terms-of-use/#plus">https://www.sofi.com/terms-of-use/#plus</a>.
No account maintenance fees or minimum deposit requirements³ We do not charge any account, service or maintenance fees for SoFi Checking and Savings. We do charge a transaction fee to process each outgoing wire transfer. SoFi does not charge a fee for incoming wire transfers, however the sending bank may charge a fee. Our fee policy is subject to change at any time. See the SoFi Checking & Savings Fee Sheet for details at <a href="http://sofi.com/legal/banking-fees/">sofi.com/legal/banking-fees/</a>
Overdraft coverage¹³ Overdraft Coverage is limited to $50 on debit card purchases only and is an account benefit available to customers with direct deposits of $1,000 or more during the current 30-day Evaluation Period as determined by SoFi Bank, N.A.  The 30-Day Evaluation Period refers to the "Start Date" and "End Date" set forth on the APY Details page of your account, which comprises a period of 30 calendar days (the "30-Day Evaluation Period"). You can access the APY Details page at any time by logging into your SoFi account on the SoFi mobile app or SoFi website and selecting either (i) Banking > Savings > Current APY or (ii) Banking > Checking > Current APY.  Members with a prior history of non-repayment of negative balances are ineligible for Overdraft Coverage.
Early access to your paycheck⁴ Early access to direct deposit funds is based on the timing in which we receive notice of impending payment from the Federal Reserve, which is typically up to two days before the scheduled payment date, but may vary.

Cons

No cash deposit option
No local branches or in-person support
Direct deposit required for higher APYs

Visit SoFi or read our SoFi Checking and Savings review

U.S. Bank Smartly Checking

Opening through a mobile app

2025 award winner Best for Bonuses

4.3

U.S. Bank Smartly® Checking

Earn up to $400

When you open a new U.S. Bank Smartly® Checking account and complete qualifying activities. Subject to certain terms and limitations. Offer valid through May 6, 2025. Member FDIC. Offer may not be available if you live outside of the U.S. Bank footprint or are not an existing client of U.S. Bank or State Farm.

Open Account

Account features

Minimum deposit: $25
Fees: $6.95 monthly fee (can be waived)¹⁴ No Monthly Maintenance Fee for the U.S. Bank Smartly® Checking account with one of the following: Combined monthly direct deposit totaling $1,000+, an average account balance of $1,500 or greater, the presence of an eligible U.S. Bank credit card, are 24 and under, 65 and over, or a member of the military (must self-disclose), or qualify for one of the four Smart Rewards® tiers.
ATM Access: 40,000+ ATMs
FDIC Insured: Yes

The U.S. Bank Smartly Checking account can be set up quickly online — we found the account opening process only took five minutes to complete. Their mobile app is a stand out feature. We found it user-friendly and it has some useful features like the ability to track your spending. If you're looking for a basic budgeting app, you could just use this app versus paying for a separate subscription for a budget tracking app.

There is a monthly fee for this account, but it can be waived a variety of ways including having monthly direct deposits totaling $1,000 or maintaining a minimum balance of $1,500.¹⁴ No Monthly Maintenance Fee for the U.S. Bank Smartly® Checking account with one of the following: Combined monthly direct deposit totaling $1,000+, an average account balance of $1,500 or greater, the presence of an eligible U.S. Bank credit card, are 24 and under, 65 and over, or a member of the military (must self-disclose), or qualify for one of the four Smart Rewards® tiers.  The monthly maintenance fee is also waived for customers aged 24 and under or 65 and over.

Pros

Frequent bonus offers for opening an account
Quick application process
2,000+ branches in 26 states¹⁵ Applicant must reside in AZ, AR, CA, CO, ID, IL, IN, IA, KS, KY, MN, MO, MT, NE, NV, NM, NC, ND, OH, OR, SD, TN, UT, WA, WI, WY to be eligible for Checking account
Overdraft protection available

Cons

Monthly maintenance fee
Charges overdraft fees in certain circumstances
Only available in 26 states

What our team has to say

"It only took me a few minutes to open a U.S. Bank checking account. I was also able to add a joint account holder easily. I've been impressed with the account overall and the mobile app in particular." —Melinda Sineriz, Lead Editor

Visit U.S. Bank or read our U.S. Bank Smartly Checking review

Truist One Checking

Best for no overdraft fees

2025 award winner Best for Overdraft Protection

4.3

Truist One Checking

Truist One Checking - Earn $400

Terms apply. No overdraft fee, low minimum deposit of $50. $100 Negative Balance Bufferfor eligible clients. Ways to waive monthly maintenance fee. Member FDIC.

Open Account

Account features

Minimum deposit: $50
Fees: $12 monthly maintenance fee (can be waived)⁶ The Monthly Maintenance Fee (MMF) can be waived for the Truist One Checking account for each statement cycle by: Option 1: Making $500 or more in total qualifying Direct Deposits per statement cycle. A qualifying direct deposit is an electronic credit via ACH deposited to your account during the current statement cycle. Pre-authorized transfers made from one account to another or deposits made via a branch, ATM, online transfer, mobile device, debit card/prepaid card number or the mail are not eligible to meet this requirement. Option 2: Maintaining a total combined ledger balance of $500 or more in any Truist related accounts across personal deposits and all investments as reflected on the business day before your statement cycle end date. A Ledger Balance is actual balance in your account on a specific day and does not reflect any holds or pending transactions. Your Total Combined Balance is the sum of all balances within the Truist personal deposit accounts (checking, savings, money market or CDs), IRAs or brokerage accounts introduced through Truist Investment Services, Inc. Related Accounts automatically includes all applicable accounts associated with primary and secondary account holders. Option 3: Having a personal Truist credit card, mortgage or consumer loan, excluding LightStream®. Option 4: Having a linked Small Business Checking Account. Eligible Small Business account types include: Truist Dynamic Checking, Business Interest Checking, Simple Business Checking and Business Value 200. Option 5: Primary client is a student. The waiver for a student requires they are listed as the primary account owner and they provide their anticipated graduation date. The waiver expires on the provided graduation date. On this date, the account is subject to the Monthly Maintenance Fee unless at least one waiver criterion is satisfied. Option 6: Primary client is under the age of 25 or age 62 and older. Truist Bank, Member FDIC. ©2024, Truist Financial Corporation. Truist, Truist Purple and the Truist Logo are service marks of Truist Financial Corporation.
ATM Access: Fee-free access to over 3,000 Truist ATMs
FDIC Insured: Yes

If your financial management is a little shaky and you're looking for an account that's not only going to be rather easy to get but good for you in the long term, this could be the account for you. Truist One Checking doesn't charge any overdraft fees, and its $100 Negative Balance Buffer can give your account an extra cushion of up to $100 for unexpected charges.¹⁶ The $100 Negative Balance Buffer is only available with Truist One Checking and allows eligible clients to overdraw their account up to $100. All eligibility requirements below must be met to initially qualify for the $100 Negative Balance Buffer: <ul> <li>Account must be opened for a minimum of 35 calendar days</li> <li>Account must be funded and have a positive balance</li> <li>A single direct deposit of at least $100 per month must be made for 2 consecutive months</li> </ul> To remain qualified for the $100 Negative Balance Buffer, the requirement below must be met: <ul> <li>A recurring direct deposit of at least $100 per month</li> </ul> For accounts that qualify for the $100 Negative Balance Buffer and also have Overdraft Protection, Truist will use the $100 Negative Balance Buffer first. If the account has neither, transactions that exceed the account balance will typically be declined or returned. As you get more secure and your average monthly balance increase, you can start to see more benefits like free paper checks and unlimited no-fee ATM transactions from non-Truist ATMs.

There is a $12 monthly maintenance fee unless you meet one of five requirements to waive the fee. That includes maintaining a combined monthly average balance of $500 or more across eligible Truist accounts or making $500 or more in total qualifying direct deposits per statement cycle.

Pros

Multiple ways to waive monthly fee
Over 2,000 Truist branch locations in the U.S.
Highly-rated mobile app

Cons

Bank branches only in 17 states
Monthly maintenance fee

What our team has to say

"I found it very easy to open a checking account. I like Truist's multi-factor authentication for security and clean interface so it's easy to look at my banking history and make transfers." —Jenna Kapes, Editorial Assistant

Visit Truist Bank or read our Truist Bank review

Chime® Checking

Getting approved with fair or bad credit

2025 award winner Best for Bad or No Credit

4.6

Chime®

Chime® Checking⁷ - No Monthly Fees⁸ + Get paid up to 2 days early with direct deposit¹⁷

Checking Account. No minimum balance. FDIC Insured through The Bank Corp Bank, N.A. or Stride Bank, N.A.

Open Account

Account features

Minimum deposit: $0
Fees: No monthly maintenance fee⁸ There’s no fee for the Chime Savings Account. Cash withdrawal and Third-party fees may apply to Chime Checking Accounts. You must have a Chime Checking Account to open a Chime Savings Account.
ATM Access: Over 60,000 fee-free ATMs¹⁸ Out-of-network ATM withdrawal and over the counter advance fees may apply except at MoneyPass ATMs in a 7-Eleven, or any Allpoint or Visa Plus Alliance ATM.
FDIC Insured: Yes, through Chime's partner banks, The Bancorp Bank and Stride Bank

Chime isn't a bank but a fintech company with the motto, "We want to profit with our members, not from them." In line with that motto, Chime doesn't charge overdraft fees¹⁹ SpotMe® on Debit is an optional, no fee overdraft service attached to your Chime Checking Account. To qualify for the SpotMe on Debit service, you must receive $200 or more in qualifying direct deposits to your Chime Checking Account each month and have activated your physical Chime Visa® Debit Card or secured Chime Credit Builder Visa® Credit Card. Qualifying members will be allowed to overdraw their Chime Checking Account for up to $20 on debit card purchases and cash withdrawals initially but may later be eligible for a higher limit of up to $200 or more based on Chime Account history, direct deposit frequency and amount, spending activity and other risk-based factors. The SpotMe on Debit limit will be displayed within the Chime mobile app and is subject to change at any time, at Chime's sole discretion. Although Chime does not charge any overdraft fees for SpotMe on Debit, there may be out-of-network or third-party fees associated with ATM transactions. SpotMe on Debit will not cover any non-debit card transactions, including ACH transfers, Pay Anyone transfers, or Chime Checkbook transactions. <a href="https://www.chime.com/policies/">SpotMe on Debit Terms and Conditions</a>. , monthly service fees, foreign transaction fees, or have minimum balance requirements.⁸ There’s no fee for the Chime Savings Account. Cash withdrawal and Third-party fees may apply to Chime Checking Accounts. You must have a Chime Checking Account to open a Chime Savings Account.

Despite its online origins, you still have an option for depositing cash into your account with Chime. You can deposit cash for free at over 8,000+ Walgreens locations or for a fee at 75,000 retail locations like Walmart, CVS, and 7-Eleven.²⁰ Once the retailer accepts your cash, the funds will be transferred to your selected Chime Account. Barcode and debit card cash deposits land in the Checking Account. Credit Builder card cash deposits first go through your Card Account and then land in your Secured Account. Cash deposit fees may apply if using a retailer other than Walgreens and Duane Reade. ¹⁸ Out-of-network ATM withdrawal and over the counter advance fees may apply except at MoneyPass ATMs in a 7-Eleven, or any Allpoint or Visa Plus Alliance ATM. You can use the Chime app for mobile check deposits.²¹ Mobile Check Deposit eligibility is determined by Chime in its sole discretion and may be granted based on various factors including, but not limited to, a member's direct deposit enrollment status.

Chime also offers an optional high-yield savings account with a 2.00% (as of Sept. 9, 2024) APY²² The Annual Percentage Yield (“APY”) for the Chime Savings Account is variable and may change at any time. The disclosed APY is accurate as of September 20, 2023. No minimum balance required. Must have $0.01 in savings to earn interest.  that you can open along with your Chime Checking account.²³ Chime Checking Account is required to be eligible for a Savings Account.

Pros

No overdraft fees
No monthly service fees
No minimum balance requirements
No credit check

Cons

No branches or in-person service
$2.50 fee on out-of-network ATMs¹⁸ Out-of-network ATM withdrawal and over the counter advance fees may apply except at MoneyPass ATMs in a 7-Eleven, or any Allpoint or Visa Plus Alliance ATM. or over-the-counter cash withdrawals

Visit Chime or read our Chime review

Chime Savings

Easy savings account to open

If you do decide to open a Chime Checking account and you're also in the market for a new savings account, we recommend opening a Chime® Savings account as well. This is arguably even easier to get since you need Chime Checking to qualify, so you'll already be set up with an account by the time you apply.

As mentioned, this account earns 2.00% (as of Sept. 9, 2024) APY²² The Annual Percentage Yield (“APY”) for the Chime Savings Account is variable and may change at any time. The disclosed APY is accurate as of September 20, 2023. No minimum balance required. Must have $0.01 in savings to earn interest.  on any balance. While this isn't the best rate you can possibly find on a high-yield savings account, it's still far better than the national average savings rate of 0.59% (as of 4/14/25), according to FDIC data. And it can be a whole lot more convenient to have multiple accounts with one bank than to open separate accounts at several institutions.

The smartest way to use this account would be to pair it with your Chime Checking account to take advantage of the following features to help you save more:

Debit card Rounds Ups,²⁴ Round Ups automatically round up debit card purchases to the nearest dollar and transfer the round up from your Chime Checking Account to your savings account.  to automatically have your debit card transactions rounded to the nearest dollar and the extra sent to savings.
Save When I Get Paid,²⁵ Save When I Get Paid automatically transfers 10% of your direct deposits of $500 or more from your Checking Account into your savings account. to make sure you're always paying yourself first by allocating a portion of every paycheck to savings.

This is a low-maintenance account without minimums to earn interest or avoid fees, so we like it for anyone focused on keeping things simple.

Apply for Chime Savings

Bank of America Advantage Plus Banking® account

Best for flexible banking

4.2

Bank of America Advantage Banking

$300 bonus offer. Bank of America, N.A. Member FDIC. Click ‘Learn More' for more details.

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Account features

Minimum deposit: $100
Fees: $12 monthly maintenance fee (can be waived)
ATM Access: No fees at Bank of America ATMs
FDIC Insured: Yes, Bank of America is a Member FDIC

If it's important to you to be able to bank in person, Bank of America has a large national footprint with thousands of branches in the U.S. But, their mobile banking options are strong too, giving you the best of both worlds. You can do basic banking in their mobile app, as well as interact with their virtual financial assistant, lock and unlock your debit card, and set up mobile app alerts.

The Bank of America Advantage Plus Banking® account does come in with a $12 monthly maintenance fee, but you can avoid it if you meet certain requirements:

You're a Bank of America Preferred Rewards® member
You have at least one qualifying direct deposit of $250 or more
You maintain a minimum daily account balance of $1,500 or more

Pros

Peace of mind with a $0 Liability Guarantee²⁶ The $0 Liability Guarantee covers fraudulent transactions made by others using your Bank of America consumer debit cards. To be covered, report transactions made by others promptly, and don't share personal or account information with anyone. Access to funds next business day in most cases, pending resolution of claim. Consult customer and account agreements for full details.
24/7 Total Security Protection®️ and fraud monitoring
Offers multiple ways to pay, including a debit card and digital wallet

Cons

$12 monthly maintenance fee if you don't meet certain requirements
Does not earn interest
Overdraft fees

Visit Bank of America or read our Bank of America Advantage Banking review.

Current

Best for building credit

Current

Build Credit Not Debt

Build credit with everyday purchases.²⁷No credit checks or history required.

Get started today

Account features

Minimum deposit: $0
Fees: No monthly fees²⁸ Out of network cash withdrawal fees, third-party, and cash load fees may apply. ²⁹ Some fees may apply, including out of network ATM fees of $2.50 per transaction, late payment fees of 3% of any total due balance outstanding and past due for two or more billing cycles, foreign transaction fees of 3% of the full transaction amount (minimum $0.50), card replacement fees per card of $5 for regular delivery and $30 for expedited delivery, cash deposit fees of $3.50 per deposit, and third party processing fees.
ATM Access: No fees at 40,000 in-network ATMs
FDIC Insured: Current is not an FDIC-insured bank, but customer funds are protected by FDIC insurance through Choice Financial Group and Cross River Bank.

Current²⁷ Current is a financial technology company, not an FDIC-insured bank. FDIC insurance up to $250,000 only covers the failure of an FDIC-insured bank. Certain conditions must be satisfied for pass-through deposit insurance coverage to apply. Banking services provided by Choice Financial Group, Member FDIC, and Cross River Bank, Member FDIC. The Current Visa®️ Debit Card is issued by Choice Financial Group pursuant to a license from Visa U.S.A. Inc. and may be used everywhere Visa debit cards are accepted. The Current Visa®️ secured charge card is issued by Cross River Bank pursuant to a license from Visa U.S.A. Inc. and may be used everywhere Visa credit cards are accepted. Please see the back of your Card for its issuing bank. Current Individual Account required to apply for the Current Visa®️ secured charge card. Independent approval required. offers you the ability to build credit while you bank making it a good "second chance" banking option. It's also a good option if you don't have credit yet or are still building credit. There are no credit checks required to apply, and you can use your everyday spending to build credit. It's a good alternative to a secured credit card, which often comes with fees or deposit requirements.

It has a few other unique features that could benefit someone who might be on a tight budget. It removes gas station holds on your debit card, so your money isn't tied up when you fill up your tank. It also offers the option to get paid up to two days earlier when you set up direct deposit.³⁰ Faster access to funds is based on comparison of traditional banking policies and deposit of paper checks from employers and government agencies versus deposits made electronically. Direct deposit and earlier availability of funds is subject to timing of payer's submission of deposits.

Pros

Overdraft protection³¹ Actual overdraft amount may vary and is subject to change at any time, at Current’s sole discretion. In order to qualify and enroll in the Fee-Free Overdraft feature, you must receive $500 or more in Qualifying Deposits into your Current Account over the preceding 30-day period. For more information, please refer to <a href="https://current.com/overdraft_protection_terms_of_service/" target="_blank" rel="noopener noreferrer">Fee-free Overdraft Terms and Conditions</a>. Individual Current Accounts only.
Earn up to 7X points on certain debit card purchases
No monthly balance fees or minimums
Account options for parents and teens³² You may earn Points in connection with your everyday spending and by completing other actions that Current designates as subject to the Current Points Program. The amount of Points granted for different actions as well as the purchase requirements necessary to earn Points will vary, and is subject to Current’s sole discretion. After qualifying, please allow 3-5 business days for points to post to your Current account. The Current Points program is not available to Teen Account holders. See Current Points Terms and Conditions.

Cons

No in-person branches

Visit Current or read our Current review

Important considerations when opening a bank account

Does the bank require a minimum deposit? Most of the banks on our list don't require one, giving you flexibility.
How long does it take to open an account? We especially like the ease and speed of opening a Discover® Cashback Debit Account online. The application process typically takes a few minutes, and a physical debit card arrives in the mail within 10 business days.
Do they charge a monthly fee? Our list favors banks that don't charge a monthly fee or give you the ability to waive the monthly fee if you meet specific criteria.

How to choose a bank account to open online

Many bank accounts are easy to open these days, taking just minutes to apply for and set up your account. But there are other features the best banks offer that make them strong contenders. When choosing a financial institution, look for one that provides:

No fees
No minimum balance requirements
An easy online banking and mobile experience
Overdraft protection

Strong security and insurance
A large ATM network
High interest rates
Early payday for direct deposit

FAQs

What bank can I open online without a deposit?

You can open an account online without a deposit at Discover, Chime, and Current. However, when opening an account online with no initial deposit, some banks will require you to deposit money into the account within a certain number of days, or the account will be closed.

For example, Discover requires the deposit to be made within 45 days.

What is the best bank to open online?

The best banks to open an account online depends on your personal situation and priorities. Discover is an excellent choice because there's no minimum deposit, no monthly fees, and it's easy to open an account.

If in-person banking is important to you, Bank of America, Truist, or U.S. Bank are good options to consider. If you're new to banking or don't have great credit, Current or Chime can be good options for a second chance.

What is the easiest bank account to open online?

In our opinion, Discover® Cashback Debit stands out as the easiest bank account to open online. The application process is swift and straightforward, typically taking about five minutes. Once your application is approved, you can expect to receive your debit card within 10 business days.

How do you open a bank account online?

It's easy to open a bank account online. While the process may vary a bit from bank to bank, generally you'll go the bank's website, choose which type of account you want to open, and then enter your personal details. You'll be asked for things like your name, address, and occupation. Most accounts will also ask for your social security number if you're in the U.S.

Can you open a bank account and use it right away?

Yes, with most of the financial institutions we've mentioned in this article, you can use your bank account right after opening it. If the bank account includes a debit card, you'll typically receive it in 7 to 10 days.

Can I open a bank account with bad credit?

Most banks offer basic checking or savings accounts that have no credit requirement. Current specifically markets its checking account product to those with bad or no credit. They do not require a credit check to open an account and have account features that are focused on helping you build credit.

Featured Checking Accounts

5.0

2025 award winner Best Checking and Savings Combo

SoFi Checking & Savings - Earn Up to $300 When You Set Up Direct Deposit

Earn up to 3.80% APY¹ New and existing Checking and Savings members who have not previously enrolled in Direct Deposit with SoFi are eligible to earn a cash bonus of either $50 (with at least $1,000 total Direct Deposits received during the Direct Deposit Bonus Period) OR $300 (with at least $5,000 total Direct Deposits received during the Direct Deposit Bonus Period). Cash bonus will be based on the total amount of Direct Deposit. Direct Deposit Promotion begins on 12/7/2023 and will be available through 1/31/2026. See full bonus and annual percentage yield (APY) terms at <a href="http://www.sofi.com/banking#1">sofi.com/banking#1</a>. SoFi Checking and Savings is offered through SoFi Bank, N.A., Member FDIC. SoFi members who enroll in SoFi Plus with Direct Deposit or by paying the SoFi Plus Subscription Fee every 30 days or with $5,000 or more in Qualifying Deposits during the 30-Day Evaluation Period can earn 3.80% annual percentage yield (APY) on savings balances (including Vaults) and 0.50% APY on checking balances. There is no minimum Direct Deposit amount required to qualify for the stated interest rate. Members without either SoFi Plus or Qualifying Deposits, during the 30-Day Evaluation Period will earn 1.00% APY on savings balances (including Vaults) and 0.50% APY on checking balances. Only SoFi Plus members are eligible for other SoFi Plus benefits. Interest rates are variable and subject to change at any time. These rates are current as of Jan. 24, 2025. There is no minimum balance requirement. Additional information can be found at <a href="http://www.sofi.com/legal/banking-rate-sheet">http://www.sofi.com/legal/banking-rate-sheet</a>. See the SoFi Plus Terms and Conditions at <a href="https://www.sofi.com/terms-of-use/#plus">https://www.sofi.com/terms-of-use/#plus</a>. and collect up to a $300 cash bonus with direct deposit or $5,000 or more in qualifying deposits.² SoFi members who enroll in SoFi Plus with Direct Deposit or by paying the SoFi Plus Subscription Fee every 30 days or with $5,000 or more in Qualifying Deposits during the 30-Day Evaluation Period can earn 3.80% annual percentage yield (APY) on savings balances (including Vaults) and 0.50% APY on checking balances. There is no minimum Direct Deposit amount required to qualify for the stated interest rate. Members without either SoFi Plus or Qualifying Deposits, during the 30-Day Evaluation Period will earn 1.00% APY on savings balances (including Vaults) and 0.50% APY on checking balances. Only SoFi Plus members are eligible for other SoFi Plus benefits. Interest rates are variable and subject to change at any time. These rates are current as of Jan. 24, 2025. There is no minimum balance requirement. Additional information can be found at <a href="http://www.sofi.com/legal/banking-rate-sheet">http://www.sofi.com/legal/banking-rate-sheet</a>. See the SoFi Plus Terms and Conditions at <a href="https://www.sofi.com/terms-of-use/#plus">https://www.sofi.com/terms-of-use/#plus</a>. FDIC Insured.⁵ SoFi Bank is a member FDIC and does not provide more than $250,000 of FDIC insurance per depositor per legal category of account ownership, as described in the FDIC’s regulations. Any additional FDIC insurance is provided by the SoFi Insured Deposit Program. Deposits may be insured up to $3M through participation in the program. See full terms at <a href="http://sofi.com/banking/fdic/sidpterms">SoFi.com/banking/fdic/sidpterms</a>. See list of participating banks at <a href="http://sofi.com/banking/fdic/participatingbanks">SoFi.com/banking/fdic/participatingbanks</a>.

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4.6

2025 award winner Best for Bad or No Credit

Chime® Checking⁷ Chime is a financial technology company, not a bank. Banking services and debit card provided by The Bancorp Bank, N.A. or Stride Bank, N.A.; Members FDIC.  - No Monthly Fees⁸ There’s no fee for the Chime Savings Account. Cash withdrawal and Third-party fees may apply to Chime Checking Accounts. You must have a Chime Checking Account to open a Chime Savings Account. + Get paid up to 2 days early with direct deposit¹⁷ SpotMe® for Credit Builder is an optional, no interest/no fee overdraft line of credit tied to the Secured Deposit Account; SpotMe on Debit is an optional, no fee service attached to your Chime Checking Account (individually or collectively, “SpotMe”). Eligibility for SpotMe requires $200 or more in qualifying direct deposits to your Chime Checking Account each month. Qualifying members will be allowed to overdraw their Chime Checking Account and/or their Secured Deposit Account up to $20 in total, but may be later eligible for a higher combined limit of up to $200 or more based on member’s Chime account history, direct deposit frequency and amount, spending activity and other risk-based factors. Your SpotMe Limit will be displayed to you within the Chime mobile app. You will receive notice of any changes to your SpotMe Limit. Your SpotMe Limit may change at any time, at Chime or its banking partners’ discretion. Although there are no overdraft fees, there may be out-of-network or third party fees associated with ATM transactions or OTC cash withdrawal fees at retailers. SpotMe won't cover non card transactions, including ACH transfers, Pay Anyone transfers, or Chime Checkbook transactions. <a href="https://www.chime.com/policies/">SpotMe on Credit Builder Terms and Conditions</a>.

Checking Account. No minimum balance. FDIC Insured through The Bank Corp Bank, N.A. or Stride Bank, N.A.

Open Account

4.5

2025 award winner Best Online Checking Account

Discover® Cashback Checking

Earn 1% cash back on up to $3,000 in debit card purchases each month.¹⁰ See website for details. No minimum deposit or balance. FDIC Insured.

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Other online accounts we recommend

While our list primarily focuses on checking account options, we might suggest a joint checking and savings account for you if you want to keep your spending money and extra money together.

If you're just looking for a place to save, we like the Ally Online Savings Account. This account also earns a competitive rate, and it's unique for letting you separate savings goals into smaller buckets. Ally also offers a Spending Account that's easy to open, but it's not required to get the savings account.

Bottom line

As more online banks enter the marketplace, it gets easier and easier to open a bank account without ever stepping foot into a branch. Many of these banks or financial companies allow you to open an account with no initial deposit.

The best bank accounts to open online are those that require little to no initial deposits, don't charge monthly fees (or offer ways to waive the fees), enable you to get paid early with direct deposit, and have no minimum balance requirements. Features like overdraft protection, no foreign transaction fees, and interest-earning checking accounts are added benefits.

Of the financial institutions we looked at for this article, the best and easiest bank account to open online is Discover.

Learn More

4.5

2025 award winner Best Online Checking Account

Earn 1.00% cash back on up to $3,000 in debit card purchases each month¹⁰

Easily switch direct deposit via the Discover mobile app or online for Early Pay (get your paycheck up to 2 days early!)

Get the security of a Member-FDIC bank

Author Details

Danielle Letenyei

Danielle Letenyei is a writer for FinanceBuzz living in Madison, Wisconsin. Her interests include budgeting, travel, credit cards, insurance, and creative side gigs. She hopes her work on these topics can help others navigate the intricate landscape of personal finance.

Author Details

Christopher Murray

Christopher Murray is a seasoned writer at FinanceBuzz with a passion for empowering individuals to achieve financial independence while embracing sustainable practices. Over the last few years, he has focused on various facets of personal finance—specifically saving, budgeting, investing (with an emphasis on alternative investments), credit building, and sustainability.

Featured Checking Account

Reach Your Savings Goals Faster

SoFi Checking and Savings Benefits

Easiest bank accounts to open online

Discover Cashback Debit Account

SoFi Checking and Savings

U.S. Bank Smartly Checking

What our team has to say

Truist One Checking

What our team has to say

Chime® Checking

Chime Savings

Bank of America Advantage Plus Banking® account

Current

Important considerations when opening a bank account

How to choose a bank account to open online

FAQs

What bank can I open online without a deposit?

What is the best bank to open online?

What is the easiest bank account to open online?

How do you open a bank account online?

Can you open a bank account and use it right away?

Can I open a bank account with bad credit?

Featured Checking Accounts

Other online accounts we recommend

Bottom line

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