Banking Checking Accounts

8 Easiest Bank Accounts To Open Online [2025]: Get Approved Quickly

Do you need to open a new bank account ASAP? Today, applying for and opening a bank account online is simpler and faster than ever. Many financial institutions, including brick-and-mortar banks, online banks, and fintechs, let you open an account without requiring a minimum deposit, and many may even approve you instantly.

By Lauren Graves
and Danielle Letenyei

Edited by Melinda Sineriz, ABFP™

Updated Nov. 5, 2025

Recurring update

This story is updated regularly by our editorial team to maximize accuracy and helpfulness.

Our Top Pick

SoFi Checking and Savings

5.0

2025 award winner Best Checking and Savings Combo

Earn up to a $300 bonus and up to 4.50% 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 Eligible Direct Deposits received during the Direct Deposit Bonus Period) OR $300 (with at least $5,000 total Eligible Direct Deposits received during the Direct Deposit Bonus Period). Cash bonus will be based on the total amount of Eligible Direct Deposit. If you have satisfied the Eligible Direct Deposit requirements but have not received a cash bonus in your Checking account, please contact us at 855-456-7634 with the details of your Eligible Direct Deposit. Direct Deposit Promotion begins on 12/7/2023 and will be available through 1/31/2026. Full terms at <a href="https://www.sofi.com/banking/">sofi.com/banking</a>. SoFi Checking and Savings is offered through SoFi Bank, N.A., Member FDIC.SoFi members with Eligible Direct Deposit can earn 3.80% annual percentage yield (APY) on savings balances (including Vaults) and 0.50% APY on checking balances. There is no minimum Eligible Direct Deposit amount required to qualify for the 3.80% APY for savings (including Vaults). Members without Eligible Direct Deposit will earn 1.00% APY on savings balances (including Vaults) and 0.50% APY on checking balances. Interest rates are variable and subject to change at any time. These rates are current as of 1/24/25. 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>. on your money
Limited-Time Offer: +0.70% Boost on Savings APY for 6 months on new accounts with eligible Direct Deposit. Terms Apply.² Earn up to 4.50% Annual Percentage Yield (APY) on SoFi Savings with a 0.70% APY Boost (added to the 3.80% APY as of 8/5/25) for up to 6 months. Open a new SoFi Checking & Savings account with Eligible Direct Deposit by 1/31/26. Rates variable, subject to change. Terms apply at <a href="https://www.sofi.com/banking/#2">sofi.com/banking#2</a>. SoFi Bank, N.A. Member FDIC.
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 early with direct deposit⁴ 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>.

Learn More

Excellent For Easy Online Banking

CapitalOne 360 Checking

4.9

2025 award winner Best Overall Checking Account

Earn a $250 bonus by opening a 360 Checking account
No fees, no minimums
Terms Apply⁶ 1. Open a 360 Checking account on or after August 22, 2024, using promotional code CHECKING250. 2. Set up and receive at least 2 Qualifying Direct Deposits each of $500 or more to your 360 Checking account within 75 days of account opening. 3. Capital One will deposit the bonus into your account after the first two requirements listed above are completed. See full offer details and when the bonus will be posted at <a href="https://www.capitalone.com/bank/checking250/affiliate/">https://www.capitalone.com/bank/checking250/affiliate/</a>.

Learn More

Excellent For No-Fee Checking and Savings

Cash App

4.6

Bank⁷ Cash App is a financial services platform, not a bank. Banking services are provided by Cash App’s bank partner(s). Prepaid debit cards issued by Sutton Bank, Member FDIC.  See<a href="https://cash.app/legal/us/en-us/card-agreement"> Terms and Conditions</a>. Direct deposit provided by Cash App, a Block Inc. brand. without all the fees — save, send and spend your money the way you want.⁸ With a Cash App Card, your funds are eligible for FDIC pass-through insurance through our Program Banks Wells Fargo Bank, N.A. and/or Sutton Bank, Members FDIC for up to $250,000 per customer when aggregated with all other deposits held in the same legal capacity at each Program Bank above, if certain conditions are met.
Get paid up to 2 days early - up to 2 days earlier than most banks⁹ Your first deposit may take longer depending on your employer. - and earn up to 3.5% interest on Savings¹⁰ Cash App will pass through a portion of the interest paid on your savings balance held in an account for the benefit of Cash App customers at Wells Fargo Bank, N.A., Member FDIC. To earn the highest interest rate on your Cash App savings balance, you need to (a) have a Cash App Card or sponsor one or more sponsored accounts and receive at least $300 in paycheck direct deposits each month; or (b) have a sponsored account with sponsor approval to earn interest. Exceptions may apply. Savings yield rate is subject to change.
No hidden fees, minimum balance, or account fees
4.8/5 stars on the App Store, “Excellent” rating on Trustpilot

Download Cash App

Key Takeaways

We've rounded up the top bank accounts that can be easily opened online with low minimum deposits and low or no fees.
All of the checking accounts we've included in our list can be opened online in less than 10 minutes, many in less than five.
SoFi Checking and Savings is a quick and easy account to open online, and happened to win our 2025 Best Checking and Savings Combo award thanks to its ease of use, high interest earnings on savings balances, and cash bonus.

Compare the Easiest Bank Accounts to Open Online

Our experts have reviewed hundreds of accounts from various banks and financial institutions, and these are our top picks for the easiest accounts to open online.

All of the checking accounts we've included in our list can be opened online in less than 10 minutes, many in less than five, with low or no opening deposits. Each account either has no monthly fees to begin with or a waivable monthly fee you can avoid, and we also recommend a few free accounts with no deposit requirements.

Account	Best For	Monthly Fees	Minimum Opening Deposit	Uses ChexSystems	Learn More
SoFi Checking and Savings	Best for earning a high APY¹¹ <p>SoFi members who enroll in SoFi Plus with Eligible Direct Deposit or by paying the SoFi Plus Subscription Fee every 30 days or SoFi members 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 Eligible 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. Interest rates are variable and subject to change at any time. These rates are current as of 1/24/25. There is no minimum balance requirement. If you have satisfied Eligible Direct Deposit requirements for our highest APY but do not see 3.80% APY on your APY Details page the day after your Eligible Direct Deposit arrives, please contact us at 855-456-7634. 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>	$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	No	Learn More
Capital One 360 Checking	Best for easy online banking	$0 in monthly fees	$0	No	Learn More
Bank of America Advantage Plus Banking®	Best for flexible online or in-person banking	$0 or $12	$100¹² <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>	Yes	Learn More
U.S. Bank Smartly^® Checking	Best for opening through a mobile app	$0 or $12¹³ <p>No Monthly Maintenance Fee for the U.S. Bank Smartly® Checking account with one of the following: Combined monthly direct deposit totaling $1,500+, an average account balance of $1,500 or greater, the owner of an eligible Small Business Checking account, the owner of a U.S. Bank Smartly VisaTM Signature® Card, are 24 and under, 65 and over, or a member of the military (must self-disclose), or qualify for Smart Rewards® Gold tier or above.</p>	$25	Yes	Learn More
Chime Checking¹⁴ <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>	Best for getting approved with fair or bad credit	$0¹⁵ <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	No	Learn More
Current	Best for building credit	$0 in monthly fees	$0	No	Learn More
Varo Bank Account	Best for second-chance checking	$0 in monthly fees	$0	No	Learn More
Discover^® Cashback Debit	Best for earning cash back on purchases	$0	$0	Yes

SoFi Checking and Savings

Best for earning a high APY

Limited-Time Offer

2025 award winner Best Checking and Savings Combo

SoFi Checking and Savings

5.0

Learn More

on SoFi's secure website, Member FDIC

Bonus Offer

Up To $300

Minimum Opening Balance

Monthly Fee

Why We Like It

Limited-Time Offer: Earn up to a $300 bonus and up to 4.50% APY on Savings (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 Eligible Direct Deposits received during the Direct Deposit Bonus Period) OR $300 (with at least $5,000 total Eligible Direct Deposits received during the Direct Deposit Bonus Period). Cash bonus will be based on the total amount of Eligible Direct Deposit. If you have satisfied the Eligible Direct Deposit requirements but have not received a cash bonus in your Checking account, please contact us at 855-456-7634 with the details of your Eligible Direct Deposit. Direct Deposit Promotion begins on 12/7/2023 and will be available through 1/31/2026. Full terms at <a href="https://www.sofi.com/banking/">sofi.com/banking</a>. SoFi Checking and Savings is offered through SoFi Bank, N.A., Member FDIC.SoFi members with Eligible Direct Deposit can earn 3.80% annual percentage yield (APY) on savings balances (including Vaults) and 0.50% APY on checking balances. There is no minimum Eligible Direct Deposit amount required to qualify for the 3.80% APY for savings (including Vaults). Members without Eligible Direct Deposit will earn 1.00% APY on savings balances (including Vaults) and 0.50% APY on checking balances. Interest rates are variable and subject to change at any time. These rates are current as of 1/24/25. 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>. with +0.70% APY Boost) for 6 Months on new accounts with eligible direct deposit. Terms Apply.² Earn up to 4.50% Annual Percentage Yield (APY) on SoFi Savings with a 0.70% APY Boost (added to the 3.80% APY as of 8/5/25) for up to 6 months. Open a new SoFi Checking & Savings account with Eligible Direct Deposit by 1/31/26. Rates variable, subject to change. Terms apply at <a href="https://www.sofi.com/banking/#2">sofi.com/banking#2</a>. SoFi Bank, N.A. Member FDIC.
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 early with direct deposit⁴ 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>.

Learn More

on SoFi's secure website, Member FDIC

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® network¹⁶ 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 just as rewarding as, or even more rewarding than, other bank accounts. 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% 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 and banks that require direct deposit.

Pros

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>
May offer instant approval
Overdraft coverage¹⁷ Overdraft Coverage is limited to $50 on debit card purchases only and is an account benefit available to customers with Eligible 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

Capital One 360 Checking

Best for easy online banking

2025 award winner Best Overall Checking Account

CapitalOne 360 Checking

4.9

Learn More

on Capital One's secure website, Member FDIC

Bonus Offer

$250

Minimum Opening Balance

Monthly Fee

Why We Like It

Earn a $250 bonus by opening a 360 Checking account
No fees, no minimums
Terms Apply⁶ 1. Open a 360 Checking account on or after August 22, 2024, using promotional code CHECKING250. 2. Set up and receive at least 2 Qualifying Direct Deposits each of $500 or more to your 360 Checking account within 75 days of account opening. 3. Capital One will deposit the bonus into your account after the first two requirements listed above are completed. See full offer details and when the bonus will be posted at <a href="https://www.capitalone.com/bank/checking250/affiliate/">https://www.capitalone.com/bank/checking250/affiliate/</a>.

Learn More

on Capital One's secure website, Member FDIC

Account features

Minimum deposit: $0
Fees: No monthly fees or fees for insufficient funds or overdrafts
ATM access: Over 70,000 fee-free ATMs within the Capital One, MoneyPass, and Allpoint networks
FDIC insured?: Yes. Capital One, National Association, is a member FDIC (Cert. Number 4297).

For being a hybrid bank with a footprint of physical branches, you might not expect Capital One 360 to stand out for its mobile app and online banking services portal — but it does. In fact, the mobile banking app for this FDIC-certified bank can hang with the best of them, ranking better than or on par with exclusively digital institutions and companies like SoFi and Chime. Having tried it for our own banking, we can attest that Capital One's app is one of the easiest to use, and applying for a new account, like 360 Checking, is fast and unfrustrating. Even the identity verification step in the app is a bit smoother and quicker than we've experienced elsewhere.

Capital One 360 Checking is also a great account for other reasons. Like a lot of other online bank accounts, it gives you the opportunity to get paid up to two days early with direct deposit.¹⁸ Early paycheck is available for 360 Checking customers that set up direct deposit with their employer or other payor to receive electronic deposits of regular periodic payments (such as salary, pension, or government benefits). Certain non-payroll and tax payments are not eligible for early paycheck. Early direct deposits may be available to you up to 2 days earlier, however, we are dependent on the timing of your payor’s payment instructions and therefore you may not always see your direct deposits arrive early. Early paycheck eligibility may vary between pay periods and daily/transaction limits apply. Like fewer online bank accounts, it also lets you make cash deposits. One of its only downsides, and we'll admit it's a fairly significant one, is that it doesn't earn interest. For that, you'd have to count on high-yield savings.

Pros

Early access to your paycheck
You can add cash to your checking account at Walgreens or CVS
May offer a sign-up bonus when you open a new account

Cons

Account earns negligible interest
Capital One's branches are very limited relative to other big banks

Visit Capital One | Read our Capital One 360 review.

Bank of America Advantage Plus Banking® account

Best for online or in-person banking

Variety of Account Options to Best Suit Your Needs

Bank of America Advantage Banking

4.8

Learn More

on Bank of America's secure website, Member FDIC

Bonus Offer

$500

Minimum Opening Balance

$25

Monthly Fee

$0, $4.95, $12, or $25 depending on account

Why We Like It

Up to $500 cash offer. Click 'Learn More' for more details
Multiple ways to waive the monthly maintenance fee
Thousands of ATMs and financial centers
24/7 security with Total Security Protection® and fraud monitoring
Bank of America, N.A. Member FDIC

Learn More

on Bank of America's secure website, Member FDIC

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 Guarantee¹⁹ 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.

U.S. Bank Smartly Checking

Best for opening through a mobile app

2025 award winner Best for Bonuses

U.S. Bank Smartly® Checking

4.6

Learn More

on U.S. Bank's secure website, Member FDIC

Bonus Offer

$400

Minimum Opening Balance

$25

Monthly Fee

$12 or $0

Why We Like It

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 November 26, 2025. Member FDIC
No Overdraft Protection Transfer fee from a linked deposit account, $50 overdrawn Available Balance safety threshold and Overdraft Fee Forgiven program
Complimentary access to Greenlight to raise financially smart kids
Offer may not be available if you are an existing U.S. Bank customer or live outside of the U.S. Bank footprint

Learn More

on U.S. Bank's secure website, Member FDIC

Account features

Minimum deposit: $25
Fees: $12 monthly fee (can be waived)¹³ No Monthly Maintenance Fee for the U.S. Bank Smartly® Checking account with one of the following: Combined monthly direct deposit totaling $1,500+, an average account balance of $1,500 or greater, the owner of an eligible Small Business Checking account, the owner of a U.S. Bank Smartly VisaTM Signature® Card, are 24 and under, 65 and over, or a member of the military (must self-disclose), or qualify for Smart Rewards® Gold tier or above.
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 $1,500 or maintaining a minimum balance of $1,500.¹³ No Monthly Maintenance Fee for the U.S. Bank Smartly® Checking account with one of the following: Combined monthly direct deposit totaling $1,500+, an average account balance of $1,500 or greater, the owner of an eligible Small Business Checking account, the owner of a U.S. Bank Smartly VisaTM Signature® Card, are 24 and under, 65 and over, or a member of the military (must self-disclose), or qualify for Smart Rewards® Gold tier or above. 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 states²⁰ 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, Managing Editor

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

Chime® Checking

Best for getting approved with fair or bad credit

2025 award winner Best for Bad or No Credit

Chime®

4.9

Learn More

on Chime's secure website, The Bancorp Bank, N.A. or Stride Bank, N.A.; Members FDIC

Bonus Offer

N/A

Minimum Opening Balance

Monthly Fee

Why We Like It

No minimum balance, no monthly service fees¹⁵ 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 your paycheck up to 2 days earlier with direct deposit²¹ Early access to direct deposit funds depends on the timing of the submission of the payment file from the payer. We generally make these funds available on the day the payment file is received, which may be up to 2 days earlier than the scheduled payment date.
Eligible Members can access fee-free overdraft up to $200²² SpotMe® on Credit is an optional, no interest / no fee overdraft line of credit tied to the Secured Deposit Account available to qualifying members with an active Chime Card Account. To qualify for the SpotMe on Chime Card service, you must receive $200 or more in qualifying direct deposits to your Chime® Checking Account each month and have activated your physical secured Chime Visa® Credit Card or Chime Visa® Debit Card. Qualifying members will be allowed to overdraw their Secured Deposit Account up to $20, 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 Chime Card Limit will be displayed within the Chime mobile app and is subject to change at any time, at Chime’s or its banking partners’ discretion. Although Chime does not charge any overdraft fees for SpotMe on Chime Card, there may be out-of-network or third-party fees associated with ATM transactions and fees associated with OTC cash withdrawals. SpotMe on Chime Card won’t cover non-card transactions. <a href="https://www.chime.com/policies/" style="background-color: rgb(255, 255, 255);">SpotMe on Chime Card Terms and Conditions</a>.
50K+ fee-free ATMs nationwide²³ 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.
Automatic savings helps you grow your money faster²⁴ You can automatically transfer part of your direct deposits of $1 or more from your Checking Account into your selected Chime account(s).

Learn More

on Chime's secure website, The Bancorp Bank, N.A. or Stride Bank, N.A.; Members FDIC

Account features

Minimum deposit: $0
Fees: No monthly maintenance fee¹⁵ 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 50,000 fee-free ATMs²³ 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 fees²⁵ 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.¹⁵ 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.²⁶ Once the retailer accepts your cash, the funds will be transferred to your Chime account. Cash deposit fees may apply if using a retailer other than Walgreens and Duane Reade.  ²³ 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.²⁷ 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 1.00% APY²⁸ 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 10/16/25. No minimum balance required. Must have $0.01 in savings to earn interest.  that you can open along with your Chime Checking account.²⁹ 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 ATMs²³ 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 1.00% APY²⁸ 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 10/16/25. 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 0.4% (as of 9/15/25), 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,³⁰ 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,²⁴ You can automatically transfer part of your direct deposits of $1 or more from your Checking Account into your selected Chime account(s). 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

Current

Best for building credit

Account features

Minimum deposit: $0
Fees: No monthly fees³¹ Out of network cash withdrawal fees, third-party, and cash load fees may apply. ³² 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.

Current³³ 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.³⁴ 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 protection³⁵ 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 teens³⁶ 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

Varo Bank Account

Best for second-chance checking

Account features

Minimum deposit: $0
Fees: No monthly fees or fees for insufficient funds or overdrafts
ATM access: Over 40,000 fee-free ATMs
FDIC insured?: Yes

Varo is a name you've probably heard if you know anything at all about online banking, and there are good reasons that the Varo Online Bank Account is as popular as it is with people looking for easy digital money management. One of the best things about this account, and why it's on our list here, is that it's one of the very best second-chance checking accounts. This means it's better than most for people with bad credit because it doesn't use ChexSystems to review your banking history when you apply. In other words, it can be a lot easier to get approved for and open.

Bypassing a ChexSystems check may help you qualify for a new bank account if you've had banking trouble before and your history turns up issues like unpaid fees or closed accounts. Varo won't look at your credit, either. And if you need a second chance at specific goals like growing your savings or rebuilding your credit, Varo can help with those, too. It offers automated savings features and a credit-builder card called Varo Believe.

This checking account shines when you pair it with the online bank's savings account, which earns up to 5.00% (as of 05/27/25) APY with direct deposit or 2.50% (as of 12/11/24) APY without. You can only qualify for the higher rate on up to $5,000; after that, you'll earn the much lower APY.

Pros

No minimum balance requirements
No monthly fees
Earn cashback debit card rewards at select merchants
Get paid up to two days early³⁷ Early access to direct deposit funds depends on timing of the payer’s submission of deposits. We generally post such deposits on the day they are received which may be up to 2 days earlier than the payer’s scheduled payment date.

Cons

Limited cashback earning opportunities
Lower transaction limits than other accounts

Read our Varo Bank review.

Discover Cashback Debit Account

Best for earning cash back on your purchases

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.³⁸ 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.

The Cashback Debit account is easy to open 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.

*Details about Discover® Cashback Debit have been collected by FinanceBuzz editors. This information is accurate as of the date of the review and was not reviewed or approved by the issuer. FinanceBuzz does not receive commission for this product.

Pros

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

Read our Discover Checking review

Why choose an online bank?

A lot of factors go into choosing a bank. Here's what led customers to choose an online-only institution.

Top reasons customers choose online-only banks

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 SoFi Checking and Savings Account online.
Does it 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.
Does it have useful features? Online bill pay, early direct deposit, and tools to manage your money can all make your life a little easier. Determine which features are important to you and keep those in mind when you choose a bank account.

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 account 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 a checking account online instantly?

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

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.

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 seven to 10 days.

Can I get approved for a bank account with bad credit?

Most banks offer basic checking or savings accounts with no credit requirements, making them available to those with bad or no credit. They do not require a credit check to get approved and open an account, and they often offer account features that focus 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

Limited-Time Offer: Earn up to a $300 bonus and up to 4.50% APY on Savings (3.80% APY¹with +0.70% APY Boost) for 6 Months on new accounts with eligible direct deposit. Terms Apply.² FDIC Insured.⁵

Learn More

How we rate 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.

Ask the experts

Online banking has revolutionized the banking landscape. We asked experts their thoughts on online banking as well as advice for users when banking online.

What advantages do online banks have over traditional brick-and-mortar banks? Drawbacks?

Patrick Payne

Associate Professor of Practice | Personal and Family Financial Planning | University Of Arizona

Brandon Gregg

Financial Advisor | BBK Wealth Management

David H. Myers, Ph.D.

Director, Business Sustainability Initiative | D'Amore-McKim School of Business | Northeastern University

What are the most common security risks associated with online banking, and how can consumers best protect themselves?

Patrick Payne

Associate Professor of Practice | Personal and Family Financial Planning | University Of Arizona

Brandon Gregg

Financial Advisor | BBK Wealth Management

David H. Myers, Ph.D.

Director, Business Sustainability Initiative | D'Amore-McKim School of Business | Northeastern University

How has the rise of online banking changed consumer behavior when it comes to saving and managing money?

Patrick Payne

Associate Professor of Practice | Personal and Family Financial Planning | University Of Arizona

Brandon Gregg

Financial Advisor | BBK Wealth Management

David H. Myers, Ph.D.

Director, Business Sustainability Initiative | D'Amore-McKim School of Business | Northeastern University

What advice do you have for people looking for an online bank? What features should they look for?

Patrick Payne

Associate Professor of Practice | Personal and Family Financial Planning | University Of Arizona

Brandon Gregg

Financial Advisor | BBK Wealth Management

David H. Myers, Ph.D.

Director, Business Sustainability Initiative | D'Amore-McKim School of Business | Northeastern University

Bottom line

As more online banks enter the marketplace, it gets easier and easier to open a bank account almost instantly without ever setting 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 deposit, 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 the SoFi Checking and Savings account.

Reach Your Savings Goals Faster

5.0

2025 award winner Best Checking and Savings Combo

SoFi Checking and Savings Benefits

Limited-Time Offer: Earn up to a $300 bonus and up to 4.50% APY on Savings (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 Eligible Direct Deposits received during the Direct Deposit Bonus Period) OR $300 (with at least $5,000 total Eligible Direct Deposits received during the Direct Deposit Bonus Period). Cash bonus will be based on the total amount of Eligible Direct Deposit. If you have satisfied the Eligible Direct Deposit requirements but have not received a cash bonus in your Checking account, please contact us at 855-456-7634 with the details of your Eligible Direct Deposit. Direct Deposit Promotion begins on 12/7/2023 and will be available through 1/31/2026. Full terms at <a href="https://www.sofi.com/banking/">sofi.com/banking</a>. SoFi Checking and Savings is offered through SoFi Bank, N.A., Member FDIC.SoFi members with Eligible Direct Deposit can earn 3.80% annual percentage yield (APY) on savings balances (including Vaults) and 0.50% APY on checking balances. There is no minimum Eligible Direct Deposit amount required to qualify for the 3.80% APY for savings (including Vaults). Members without Eligible Direct Deposit will earn 1.00% APY on savings balances (including Vaults) and 0.50% APY on checking balances. Interest rates are variable and subject to change at any time. These rates are current as of 1/24/25. 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>. with +0.70% APY Boost) for 6 Months on new accounts with eligible direct deposit. Terms Apply.² Earn up to 4.50% Annual Percentage Yield (APY) on SoFi Savings with a 0.70% APY Boost (added to the 3.80% APY as of 8/5/25) for up to 6 months. Open a new SoFi Checking & Savings account with Eligible Direct Deposit by 1/31/26. Rates variable, subject to change. Terms apply at <a href="https://www.sofi.com/banking/#2">sofi.com/banking#2</a>. SoFi Bank, N.A. Member FDIC.
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 early with direct deposit⁴ 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