12 Easy Bank Accounts to Open [2023]

Many online and mobile-based banks make it easy to open an account in minutes.
Updated Sept. 18, 2023
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Opening a bank account can be as easy as downloading an app or visiting a website. Spend two minutes filling out some basic info, and boom, you’re in. Not every bank offers a speedy application, but online-only banks and even some big-name banks have made the account opening process exceptionally easy.

Our top picks for easy bank accounts to open include U.S. Bank, Chase, and Current.

While finding easy bank accounts to open is important, make sure you consider all factors of the account as well. This includes limited fees, easy ATM access, and extra perks that align with your spending and savings habits.

Here are our recommendations for easy bank accounts to open.

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In this article

Key takeaways

  • Easy-to-open bank accounts include a fast sign-up process and other easy-to-use features like online and mobile banking.
  • Also look for large ATM networks, low fees, and low minimum deposits.
  • Accounts at Current and Capital One have no monthly fees for their checking and savings accounts.
  • Unique companies like Revolut, Wise, and Majority include extra features for international consumers looking for an easy experience.

12 easy bank accounts to open

Easy bank accounts to open comparison

Bank Best for Monthly fees Minimum opening deposit
U.S. Bank High balances $6.95 with options to waive the fee if you meet certain circumstances

Varies for savings

Chime Automatic savings None None
Ally Low fees None None
Albert Personalized advice $14.99 None but must maintain a $10 balance to earn bonuses
Chase In-person banking Fees vary across accounts None but higher amounts earn you higher savings rates
Current Debit card rewards None None
Axos Rewards checking None None on most checking and savings accounts (certain balances are required for others)
Wise Multi-currency usage Varies depending on where money is being transferred None
Capital One Mobile banking None None
Majority Immigrants to the U.S. $5.99 None
Revolut Travelers $0, $9.99, or $16.99 depending on the plan None
Discover Cash back None None

U.S. Bank

  • Earn a bonus when you complete certain actions
  • Overdraft protection available
  • ATM fees waived under certain circumstances
  • Earn interest on checking balances
  • Only high balances earn high Money Market rates
  • Monthly service fees on both savings and checkings
  • Savings account APYs are low

Those with high account balances will appreciate U.S. Bank’s tiered approach to rewards. The higher your account balance, the better interest rates and rewards you qualify for. And it's easy to apply for a bank account online

Every tier has either no monthly fee or the ability to waive the monthly fee if you meet certain requirements. But those with $250,000 or more earn discounts on other financial products, automatic overdraft forgiveness, and get their ATM fees reimbursed in full, plus numerous other features.

U.S. Bank’s Standard Savings deposit account features can’t quite keep up with its impressive checking offerings though, providing only a tiny sliver of interest (0.01% (as of May 31, 2023) APY) compared to other banks. U.S. Bank is FDIC insured.

Visit U.S. Bank


  • Relatively high APY on savings (2.00% (as of Aug. 29, 2023))
  • Get your paycheck up to two days early with direct deposit4
  • Large ATM network5
  • Automatic savings feature
  • No in-person branches

A Chime® Checking Account takes just minutes to open and comes with features like automatic savings and an ATM network of over 60,000 ATMs, all with no monthly fees.6 1

Plus, even though it’s not the highest, you’ll earn a solid 2.00% (as of Aug. 29, 2023) APY on your savings account balance.2 You do need to open a checking account through Chime to open a Chime High Yield Savings account.3

With Chime, you can also set up alerts and daily texts for your transactions and balance.

Chime account holders have FDIC insurance through Chime’s partner banks, The Bancorp Bank and Stride Bank. Chime is not a bank.

Visit Chime | Read our full Chime review


  • Fee-free, including overdraft fees
  • Savings buckets help you save for multiple goals
  • Early direct deposit available
  • High APY on savings
  • ATM reimbursement is limited to $10 per statement cycle
  • Some fees still apply

Ally is a highly-rated online and mobile bank with no monthly maintenance fees or minimums. Both its savings and checking products are strong, but you’ll earn the highest APY (4.25% (as of Sep. 18, 2023)) on your savings. As for your savings accounts, you can divide up your savings goals into different “buckets,” allowing you to save for each goal individually.

With the Ally checking account, direct depositors will unlock the ability to get their paychecks two days early. Plus, all account holders have access to double the overdraft protection. Ally is FDIC insured.

Visit Ally | Read our full Ally review


  • Personalized financial advice
  • Automated savings based on your spending patterns
  • Ask a real human any financial question and get answers seven days a week
  • No fees on accounts
  • “Pay what is fair” fee still requires a minimum of $8

Albert combines checking, savings, and investing accounts all on one app. When you sign up, you’ll get a checking and savings account that you can control entirely from the mobile app. Sign-up for an Albert Genius account, and Albert will analyze your spending, income, and other factors and start automatically putting money aside for your goals.

A Genius account (which starts at $8 per month) also offers you access to real human advice. You can ask any finance-related question that you have, and one of Albert’s geniuses will offer professional advice.

Albert account holders have FDIC insurance through its partner banks, Coastal Community Bank, Axos Bank, and Wells Fargo.

Visit Albert


  • Wide variety of accounts
  • Overdraft fee assistance on certain accounts
  • Most accounts come with fees
  • Small ATM network

Chase has accounts that work for most customers, assuming you’re comfortable paying a monthly fee. All checking accounts come with features such as Zelle for easy payments, no opening deposit requirement, and access to Chase’s 15,000 fee-free ATMs.

Chase is the best option on this list for in-person banking with 4,700 branches throughout the country. Chase also offers savings accounts with automatic savings features, as well as overdraft protection on some checking accounts.

Chase is FDIC insured.

Visit Chase


  • Free overdraft protection
  • Earn up to 7X points on certain debit card purchases
  • No fees or minimums
  • Account options for parents and teens
  • No in-person branches

Current is a financial technology company that charges no fees and includes a rewards debit card via its Spend account. Current has 14,000 participating merchants in its rewards program, and you could earn up to 7X the points when you use your card at these retailers.

Current comes with a few stand-out features, like removing gas holds. These are the pesky holds gas stations put on your account to ensure they receive payment. Current gets rid of those so you can access the amount you really have in your account. Plus, Current provides insights into your spending habits so you can better budget.

You can access your Current account with no fees at any ATM in the Allpoint ATM network.

Current’s banking partners, Choice Financial Group and Cross River Bank, are both FDIC insured.

Visit Current | Read full Current review


  • Many checking and savings options
  • Rewards Checking comes with a bonus and high APY
  • Earn cash back on certain checking accounts
  • Most checking accounts have no fees or minimum requirements
  • Low APY on savings
  • Minimum deposit required on certain savings accounts

Axos offers three online checking accounts: one for frequent direct deposits, one meant for high balances, and one for frequent debit card users. Each comes with no fees, but they vary in rewards. The Rewards Checking offers up to 3.30% (as of Sep. 18, 2023) APY, but there’s also a Cashback Checking that offers 1.00% cash back.

Axos’s savings accounts aren’t quite as impressive as its checking offerings, as the High-Yield Savings offers just 0.61% (as of Aug. 29, 2023) APY. Plus, you’ll need to deposit $250 to open the account. At least you won’t pay any monthly fees.

Axos is FDIC insured.

Visit Axos | Read our full Axos review


  • Low international transfer fees compared to other companies
  • Works with 50+ currencies
  • Get paid in up to 9 currencies
  • Funds may not be FDIC insured

Wise is unique because it focuses on sending and receiving different currencies rather than other accounts that let you just work in USD.

You can view all of your different currencies via one Wise account, allowing you to see your spending and balances across multiple currencies. Currently, Wise allows over 50 currencies on the platform.

If you opt into earning interest in your Wise account, you’re able to take advantage of FDIC pass-through insurance at the banks where your money is held. If you don’t choose to earn interest, your funds are not FDIC insured.

Visit Wise

Capital One

  • Large fee-free ATM network
  • Multiple fee-free overdraft options
  • High savings APY
  • Get alerts for all your spending activities
  • Low checking APY
  • Limited branch locations

With Capital One, you can open your account, fund it, send money, check your credit score, and more from Capital One’s mobile app. Plus, Capital One’s savings account comes with a 4.30% (as of Jul. 21, 2023) APY on any balance. You’ll earn just 0.10% (as of Jul. 21, 2023) APY on your checking account, but other features could make the low rate worthwhile.

Capital One has a huge fee-free ATM network of over 70,000 ATMs and mobile check deposit. You can also set up alerts through the app to monitor your balance and keep an eye out for fraud.

Capital One is insured by the FDIC.

Visit Capital OneRead our full Capital One review


  • Get paid early option
  • Earn local discounts with your debit card
  • No overdraft fees or foreign transaction fees
  • Unlimited money transfers abroad
  • Make free international calls via the app
  • Monthly fee

Majority focuses on a key group of people who many banks don’t necessarily consider: immigrants. For a $5.99 per month fee, you’ll get access to a spending account, a debit card, and, uniquely, free international calling through the app.

Recognizing the need for personalized advice after moving to the U.S., Majority also offers a personal advisor who can answer financial questions. You won’t have to meet any monthly account balance or pay an opening deposit.

Majority also has in-person meetup spaces in Florida (Miami, Hialeah, and Orlando) and Texas (Houston and Laredo) where you can open an account and meet other Majority members. 

Majority’s banking partner, Axiom Bank, is insured by the FDIC.

Visit Majority


  • Debit card lets you spend in 150+ currencies
  • Control your debit card with spending limits and freeze options
  • Send and receive 28 currencies
  • Single-use cards available for online shopping
  • Premium features available only for fee-based accounts
  • Monthly fees are high for certain accounts

Revolut supports over 200 countries and lets you send and receive money in 28 different currencies, making it the perfect choice for travelers, immigrants, dual citizens, or those who work with international clients.

Revolut also features a debit card that lets you use your card in over 150 countries. You can manage your card via the app where you can freeze it and create spending limits for yourself. The only catch is that for most premium features, you’ll have to upgrade to the $9.99 per month plan or the $16.99 per month plan.

Revolut’s partner banks are insured by the FDIC.

Visit Revolut


  • Earn cash back on checking accounts
  • Get your paycheck up to two days early
  • No fees or minimum balance requirements on checking or savings
  • Earn a high APY on any savings balance
  • Few in-person branches

Discover has long been a reliable bank, and its checking and savings accounts prove why. With no fees or minimums, they’re already off to a good start. Discover’s savings accounts come with a high 3.90% (as of May 23, 2023) interest, and Discover’s checking account offers 1% cash back on up to $3,000 in debit card purchases each month.

If you’re interested in in-person banking, unfortunately Discover won’t be a top contender. That said, features like an early payday option and overdraft protection could outweigh the negatives.

Member FDIC.

Visit DiscoverRead our full Discover review

How to choose an easy bank account to open

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 offers:

  • Low fees (or no fees, preferably) Look for a bank account that offers low or no monthly, overdraft, ATM, or transfer fees. These fees can eat into your savings, making it difficult to get what you need from the account.
  • A large ATM network If you take out cash frequently, you’ll want to choose a bank that provides access to a wide network of ATMs. Without fee-free ATMs, you could be stuck paying upwards of $3 per withdrawal. The more ATMs available, the easier it is to access your funds when needed.
  • An easy online banking and mobile experience The ability to manage your account, check balances, transfer funds, and pay bills effortlessly through a well-designed interface simplifies your banking experience and saves time.
  • Strong security and insurance Prioritize banks that have robust security measures in place to protect your personal and financial information. The bank you’re interested in should have features such as two-factor authentication, encryption, and fraud monitoring. Additionally, consider accounts backed by FDIC insurance, which provides some protection in the event of bank failure.
  • High APYs, when offered If maximizing your savings is a priority, consider accounts that offer high interest rates. This is especially important for savings accounts, as a higher APY means your money will grow faster over time.

FAQ about easy bank accounts to open

What banks require no deposit to open?

There are a variety of banks that require no deposit to open. Nearly every option on our list has no minimum deposit to open your account. These accounts also often have no monthly fees.

What bank can I open online without going to the bank?

A majority of banks allow you to open basic checking and savings accounts online if you can provide proper identification. You will likely also need to provide your Social Security number or another tax ID number.

Banks recognize that many customers don’t have the time to (or simply don’t want to) go in person just to open an account. That said, there are still a few holdouts that require you to bring your identification and other documents to an in-person branch.

Can I open a bank account with bad credit?

Most banks offer basic checking or savings accounts that have no credit requirement. It's best to ask the bank directly to understand their specific requirements and policies for opening an account for someone with bad credit.

Easy bank accounts to open: bottom line

Bank accounts that are easy to open take just minutes to get through the application, but they also do a lot more than that. They offer an easy experience overall, providing mobile banking and easy access to customer service and desirable features like bill pay. Plus, to make your life even easier, the best checking accounts and savings accounts offer low or no fees so they don’t eat into your account balances.


The companies we chose for our list of easy bank accounts to open may be current or past FinanceBuzz partners. We did not review all companies in the market. When evaluating these companies, we considered factors such as account fees, minimum deposit requirements, user experience, application experience, and desirable features.

Disclaimer: All fees are accurate as of August 16, 2023.

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Author Details

Christopher Murray Christopher Murray is a seasoned personal finance writer 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.

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