Most banks do not charge a fee to open a checking account, but some do

The majority of banks and credit unions in the United States do not charge an upfront fee to open a checking account. However, a small number of banks—particularly some regional banks and a few national chains—do charge an account opening fee that ranges from $25 to $100. The fee structure depends entirely on the bank you choose, not on a standard industry practice.

Before you open an account anywhere, you should ask directly whether there is an opening fee. Many banks advertise "no monthly fees" but still charge to set up the account in the first place. These are two separate charges, and you need to know about both.

Key Takeaways

  • Most major banks and credit unions charge nothing to open a checking account, but you should confirm with your specific bank before you commit.
  • Some regional banks and smaller institutions charge opening fees between $25 and $100, which is separate from any monthly maintenance fees.
  • Online banks almost never charge opening fees because they have lower overhead costs than brick-and-mortar branches.
  • Monthly maintenance fees are different from opening fees—a bank might charge one, both, or neither, so read the fee schedule carefully.

Where opening fees are most common

Opening fees appear most often at smaller regional banks and at some community banks that still operate primarily through physical branches. These institutions sometimes charge the fee to cover the cost of paperwork processing, identity verification, and account setup. If you bank at a large national chain like Chase, Bank of America, Wells Fargo, or Citibank, you almost certainly will not encounter an opening fee.

Online banks—including Ally, Charles Schwab, Chime, and Capital One 360—do not charge opening fees. Because they have no physical branches and handle everything digitally, their setup costs are lower, and they pass that savings to customers.

Monthly maintenance fees versus opening fees

An opening fee is a one-time charge when you create the account. A monthly maintenance fee is something you pay every month the account stays open. These are completely separate, and a bank might charge one, both, or neither.

Some banks waive their monthly maintenance fee if you meet certain conditions—for example, if you keep a minimum balance of $500, set up direct deposit, or maintain a linked savings account. Before you open an account, ask the bank for its complete fee schedule in writing. Request the specific conditions under which monthly fees are charged and how to avoid them.

How to find out what a specific bank charges

Call the bank's customer service line or visit a branch in person and ask: "Is there a fee to open a checking account?" Write down the answer and the name of the person who gave it to you. Then ask for the bank's fee schedule—most banks are required to provide this document, and it will list every charge associated with the account.

If you are opening an account online, the fee information should appear before you confirm the account creation. Read it carefully. If you do not see a fee schedule on the website, contact the bank before you proceed. Do not assume that because one bank does not charge an opening fee, another one does not either.

What happens if you are charged an opening fee

If a bank charges an opening fee, it is usually deducted from your initial deposit when you fund the account. For example, if you deposit $500 and the opening fee is $50, your account balance will be $450. Some banks deduct the fee immediately; others may wait a few days.

You cannot avoid the opening fee by not making an initial deposit—the fee applies whether or not you put money in the account right away. If you decide you do not want to pay the fee, you can close the account before funding it and look for a bank that does not charge one.

Banks and credit unions with no opening fees

Most national banks do not charge opening fees. This includes Chase, Bank of America, Wells Fargo, Citibank, PNC, TD Bank, and US Bank. Credit unions typically do not charge opening fees either, though you may need to pay a one-time membership fee to join the credit union itself—this is different from an account opening fee and usually costs $5 to $25.

Online banks have the most consistent policy: Ally, Charles Schwab, Chime, Capital One 360, and Discover do not charge opening fees. If you are comparing banks and want to avoid opening fees altogether, online banks and major national chains are your safest choices.

What to do if you have already been charged an opening fee

If you were charged an opening fee and did not know about it beforehand, contact the bank and ask them to explain the charge. Request a copy of the disclosure document you should have received when you opened the account—banks are required to provide this, and if they did not, you may have grounds to dispute the fee.

If the bank refuses to remove the fee, you can file a complaint with the Consumer Financial Protection Bureau (CFPB) at consumerfinance.gov. You can also close the account and switch to a bank with no opening fees. Many banks will not charge you to close an account, though some charge a small early closure fee if you close within a certain timeframe—usually 30 to 90 days.

Frequently Asked Questions

Can I open a checking account online without paying a fee?

Yes. Online banks do not charge opening fees, and most major national banks allow you to open accounts online at no cost. You will need a valid ID, Social Security number, and an initial deposit method (debit card or bank transfer). The account is usually ready to use within one to three business days.

Do credit unions charge opening fees?

Credit unions almost never charge fees to open a checking account. However, you may need to pay a one-time membership fee to join the credit union, which typically costs $5 to $25. This is separate from the account opening and is a one-time cost to become a member.

What if the bank says the opening fee is non-refundable?

Opening fees are generally non-refundable once the account is created. However, if you were not clearly informed about the fee before you opened the account, you can dispute it with the bank or file a complaint with the CFPB. Keep any emails or documents the bank sent you about the account.

Is an opening fee the same as a deposit requirement?

No. A deposit requirement is the minimum amount of money you must put into the account to open it—this money stays in your account. An opening fee is a separate charge that the bank keeps. A bank might require a $100 minimum deposit and charge a $50 opening fee, meaning you need $150 total to open the account.