Which banks let you open checking accounts entirely online
Most large national banks and many smaller regional banks now let you open a checking account online without visiting a branch. The process typically takes 10 to 20 minutes and requires a valid ID, Social Security number, and initial deposit (which varies by bank). Banks that offer full online account opening include Chase, Bank of America, Wells Fargo, Citibank, US Bank, and Ally Bank. Credit unions and online-only banks like Charles Schwab, Discover, and LendingClub also offer online checking accounts, often with lower fees or higher interest rates than traditional banks.
The main difference between banks is not whether they offer online opening, but what they require to complete it and what they charge afterward. Some banks require an initial deposit of $25, while others ask for $500 or more. Some charge monthly maintenance fees; others waive them if you meet certain conditions like direct deposit or a minimum balance. A few online-only banks charge no monthly fee under any circumstance.
Key Takeaways
- Most national banks, regional banks, and online-only banks now let you open a checking account online in 10 to 20 minutes using your ID and Social Security number.
- Initial deposit requirements range from $0 to $500 depending on the bank, and monthly maintenance fees vary widely or may not exist at all.
- Online-only banks like Ally, Charles Schwab, and Discover often have lower fees and higher interest rates than traditional banks, but no physical branch to visit.
- You will need to verify your identity during the process, which usually happens through your driver's license or state ID and sometimes a video call.
- After opening online, you can typically use your debit card, set up bill pay, and transfer money within one to three business days.
National banks with online account opening
Chase, Bank of America, Wells Fargo, Citibank, and US Bank all allow online checking account opening. Chase requires a $25 minimum opening deposit and charges a $12 monthly service fee (waived if you maintain a $500 balance or set up direct deposit). Bank of America requires $100 to open and charges $12 per month unless you meet one of several waiver conditions. Wells Fargo requires $25 and charges $10 monthly. These banks have thousands of branches and ATMs nationwide, which matters if you deposit cash or need in-person help.
The online opening process at these banks is straightforward: you enter your personal information, verify your identity (usually by uploading a photo of your ID), provide your Social Security number, and choose your account type. Most complete the process in 15 to 20 minutes. You will receive a temporary debit card number immediately and can use it for online purchases right away. A physical card arrives by mail in 7 to 10 business days.
Online-only banks and their checking options
Online-only banks have no physical branches but often charge lower fees and pay interest on checking balances. Ally Bank charges no monthly maintenance fee, requires no minimum opening deposit, and pays interest on checking accounts (the rate varies but is typically higher than traditional banks). Charles Schwab offers checking with no monthly fee, no minimum balance, and reimburses ATM fees worldwide. Discover Bank charges no monthly fee and requires no minimum deposit. LendingClub and Chime also offer no-fee checking with online opening.
The trade-off is that you cannot walk into a branch to deposit cash or speak to someone in person. Most online-only banks let you deposit checks by photographing them with your phone. Some partner with ATM networks so you can withdraw cash without fees. If you rarely use cash and handle most banking online, an online-only bank can save you money on fees. If you need to deposit cash regularly or prefer face-to-face service, a traditional bank with branches is a better fit.
Credit unions with online account opening
Many credit unions now offer online checking account opening, though the process varies by union. You must be a member to open an account, and membership rules differ—some credit unions are open to anyone in a geographic area, while others require you to work for a specific employer or belong to a certain organization. Navy Federal Credit Union, Alliant Credit Union, and Pentagon Federal Credit Union all offer online opening to their members.
Credit unions typically charge lower fees than banks and may offer better interest rates on checking balances. Some charge no monthly maintenance fee at all. The downside is that credit unions have fewer ATMs and branches than large banks, though many participate in shared branching networks that let you use other credit unions' ATMs and tellers. If you are already a member of a credit union or can join one, checking the union's website for online opening options is worth doing.
What you need to open an account online
To open a checking account online, you will need a valid government-issued ID (driver's license or state ID), your Social Security number, and proof of your current address. Most banks verify your address using public records, so you do not need to upload a utility bill unless the bank cannot confirm it automatically. You will also need a way to fund the account—either a debit card, bank account number, or wire transfer information.
The identity verification step usually happens one of two ways. Some banks let you upload a photo of your ID and verify your Social Security number through a third-party service that checks public records. Others require a video call with a bank representative, who will ask you to show your ID to the camera. Video verification typically takes 5 to 10 minutes and happens immediately during the application process. If verification fails, the bank will contact you to resolve the issue, which can add a day or two to the process.
Timeline from application to usable account
You can usually start using your account the same day you open it online. Most banks issue a temporary debit card number immediately after approval, which works for online purchases and bill pay right away. You can also transfer money from another bank account within one to three business days. A physical debit card arrives by mail in 7 to 10 business days, though some banks offer expedited delivery for a fee.
Checks take longer. If you order checks through the bank, they typically arrive in 7 to 14 business days. Some banks let you order checks from a third-party printer and have them arrive faster. If you need to deposit checks before your physical card arrives, most banks let you photograph checks with their mobile app and deposit them electronically within 24 hours.
Comparing fees across banks
| Bank Type | Monthly Fee | Minimum Deposit | Fee Waiver Options |
|---|---|---|---|
| Chase | $12 | $25 | $500 balance or direct deposit |
| Bank of America | $12 | $100 | Direct deposit, $1,500 balance, or linked savings account |
| Wells Fargo | $10 | $25 | Direct deposit or $500 balance |
| Ally Bank | $0 | $0 | No fees under any condition |
| Charles Schwab | $0 | $0 | No fees under any condition |
| Discover Bank | $0 | $0 | No fees under any condition |
Monthly maintenance fees are the most visible cost, but overdraft fees and out-of-network ATM fees add up quickly. Traditional banks typically charge $30 to $35 per overdraft. Online-only banks often charge less or nothing. ATM fees range from $2 to $3 per transaction at out-of-network machines, but some banks (like Charles Schwab) reimburse all ATM fees nationwide. If you frequently overdraft or use ATMs outside your bank's network, an online-only bank or credit union may save you hundreds per year.
Frequently Asked Questions
Can I open a checking account online if I do not have a Social Security number?
Most banks require a Social Security number or Individual Taxpayer Identification Number (ITIN) to open an account. Some banks may accept a passport number or other government ID instead, but this varies. Contact the bank directly to ask about alternatives if you do not have an SSN or ITIN.
What happens if my online identity verification fails?
If verification fails, the bank will contact you by phone or email to explain why and ask you to try again or provide additional documents. This usually adds one to three business days to the process. Bring a clearer photo of your ID or be ready to verify your identity through a video call if the bank offers that option.
Can I use my new checking account before the physical debit card arrives?
Yes. Most banks issue a temporary debit card number immediately after approval, which works for online purchases and bill pay. You can also transfer money from another bank account or set up direct deposit. A physical card arrives in 7 to 10 business days, but you do not need to wait for it to start using the account.
Do online banks have customer service if something goes wrong?
Online-only banks offer customer service through phone, email, and chat, though hours may be limited compared to traditional banks. Most have 24/7 phone support for urgent issues like fraud or card problems. Response times for non-urgent questions can be longer than at banks with branches. Check the bank's website for support hours before opening an account if you prefer phone support during business hours.
Can I switch banks later if I do not like the one I choose?
Yes. You can open a new account at a different bank and transfer your money over. The new bank can often help you move automatic deposits and bill payments to the new account. You can close your old account once everything has moved. There is no penalty for switching banks, though it takes a few days to move money between accounts.