Most banks let you open a checking account online with zero dollars, but the account type and features depend on which bank you choose

You can open a checking account online at many banks without putting money in first. The bank holds the account open and ready for you to fund it later — sometimes within 30 days, sometimes with no deadline at all. The catch is that not every bank offers this, and the ones that do may limit what you can do with the account until you make your first deposit.

Online-only banks (sometimes called neobanks) are most likely to let you start with nothing. Traditional banks with physical branches vary widely — some require $25 or $100 to open, others require nothing. Credit unions almost always require at least a small deposit, usually $5 to $25. The best approach is to decide which bank you want, then check their specific requirements before you start the application.

Key Takeaways

  • Online-only banks like Ally, Charles Schwab, and Discover typically let you open a checking account with no deposit required.
  • Traditional banks with branches (Chase, Bank of America, Wells Fargo) usually require a minimum deposit of $25 to $100, though some waive it for certain account types.
  • You will need a Social Security number, a government ID, and a valid email address and phone number to complete the application online.
  • Most banks fund your account by linking it to an existing bank account or by mailing you a debit card, which takes three to seven business days.
  • Some banks close accounts that remain unfunded for 30 to 90 days, so check the terms before you apply if you plan to wait before depositing money.

Banks that open accounts with no deposit requirement

Online-only banks almost never require a deposit. Ally Bank, Charles Schwab Bank, Discover Bank, and Chime all let you open a checking account with $0. You complete the entire application on their website or app, get approved in minutes or hours, and the account is ready to use once you fund it. These banks have no physical branches, so all your banking happens online or through their mobile app.

Some traditional banks also waive the deposit requirement, but it depends on the account type. Bank of America offers a SafePass checking account with no minimum deposit. Wells Fargo has similar no-deposit options for certain account tiers. Chase's requirements vary by state and account type — some Chase checking accounts require $25, others require nothing. Call your local branch or check the bank's website for your state before you apply.

Credit unions are the exception. Nearly all of them require a deposit to open an account, usually $5 to $25. Some credit unions waive the deposit if you set up direct deposit of your paycheck, but you have to ask.

What you need to open an account online

Every bank that lets you open an account online will ask for the same basic information. You need a Social Security number, a government-issued ID (driver's license or passport), your date of birth, and your current address. The bank verifies your identity electronically — they do not mail you anything to sign.

You also need a valid email address and phone number. The bank sends you a confirmation email and may text you a code to verify your phone. Some banks call you to confirm your identity before they open the account, especially if your credit report shows recent fraud alerts or if you have had accounts closed for suspicious activity.

Have your ID ready and open before you start the application. The process usually takes 10 to 20 minutes, but some banks ask you to wait 24 hours before you can fund the account.

How to fund the account after opening it

Once your account is open, you have several ways to put money in. The fastest method is to link an existing bank account and transfer money electronically — this usually shows up in your new account within one business day. You will need the routing number and account number from your other bank.

You can also deposit a check by taking a photo of it with your phone and uploading it through the bank's app. Mobile check deposit usually clears within one to three business days. Some banks let you deposit cash at ATMs or at partner retailers like Walmart or CVS, though this varies by bank.

If you have no other bank account and no check to deposit, ask the bank whether they can mail you a debit card that you can use to withdraw cash at an ATM, then deposit that cash back into your new account at an ATM. This is slower — the card takes three to seven business days to arrive — but it works if you have cash on hand.

What happens if you never fund the account

Banks have different policies for accounts that stay empty. Some banks close unfunded accounts after 30 days. Others wait 60 to 90 days. A few, like Ally and Charles Schwab, do not close the account just because it is empty — they will hold it open indefinitely.

Before you open an account, look for the bank's account closure policy in their terms and conditions. Search for the words "inactive" or "dormant" to find the relevant section. If you know you will not fund the account for several months, choose a bank that does not close empty accounts, or plan to make a small deposit (even $1) before the deadline to keep the account active.

Debit card and online access after opening

Once your account is open, you can usually log in to the bank's website or app right away and see your account number and routing number. You can set up bill pay and link external accounts for transfers. However, you cannot use a debit card until the bank mails it to you, which takes three to seven business days.

Some banks let you use a temporary digital debit card in their app while you wait for the physical card to arrive. This works at online retailers and at contactless payment terminals in stores. Check whether your bank offers this feature before you open the account if you need to spend money quickly.

Why a bank might reject your online application

Banks run a background check and verify your identity using information from credit bureaus and public records. Your application may be rejected if your Social Security number does not match your name and date of birth in their database, if you have an active fraud alert on your credit file, or if you have been banned from banking by the FDIC (which is rare but does happen).

If your application is rejected, the bank will send you a letter explaining why. If it is an identity verification issue, you can call the bank and provide additional documents like a utility bill or lease agreement. If it is a fraud alert, you can contact the credit bureau that placed it and ask them to remove it once you have resolved the underlying issue.

Frequently Asked Questions

Do I have to make a deposit on the same day I open the account?

No. Most banks let you open the account and fund it later. However, some banks close accounts that remain unfunded for 30 to 90 days, so check the bank's policy before you apply if you plan to wait.

Can I use my new checking account before the debit card arrives?

Yes, you can transfer money between accounts and set up bill pay as soon as your account is open. Some banks also offer a temporary digital debit card in their app while you wait for the physical card. You cannot withdraw cash at an ATM until the card arrives, unless the bank has ATMs that accept cardless withdrawal.

What if I do not have a government ID?

Most banks require a government-issued ID to open an account online. If you do not have one, you may need to visit a branch in person with alternative documents like a passport, tribal ID, or military ID. Some banks accept a combination of documents like a utility bill plus a Social Security card, but this varies.

Can I open a checking account online if I have been banned from another bank?

It depends on why you were banned. If you were banned for fraud or for writing bad checks, other banks can see this in the ChexSystems database and may reject your application. If you were banned for owing money, some banks will still open an account for you. Call the bank before you apply and explain your situation.

How long does it take to open a checking account online?

The application itself takes 10 to 20 minutes. Most banks approve you within minutes or hours. Some banks make you wait 24 hours before you can fund the account. Once you fund it, the money usually appears within one business day if you transfer from another bank, or one to three days if you deposit a check.