The easiest banks depend on what you value most
There is no single "easiest" bank because different banks remove friction at different points. Chime and Varo let you open an account in under five minutes on your phone with just an ID and Social Security number, with no minimum balance and no monthly fees. Charles Schwab takes about ten minutes online and offers no overdraft fees and no foreign ATM fees. Chase and Bank of America have branches everywhere, which matters if you need to deposit cash or talk to someone in person — but their online process takes longer and they charge overdraft fees unless you opt out or meet balance requirements.
The trade-off is usually speed versus location. Online-only banks are fastest. Banks with physical branches are slower to open but easier to use if you need to walk in and deposit a check or withdraw cash. If you have no credit history, a recent eviction, or a ChexSystems flag, some banks will still open an account for you — but you will need to know which ones before you apply, because a rejection can make the next application harder.
Key Takeaways
- Online banks like Chime and Varo open accounts in under five minutes with no minimum balance, no monthly fees, and no overdraft fees.
- Traditional banks with branches like Chase and Bank of America take longer to open but let you deposit cash and speak to staff in person.
- If you have a ChexSystems flag or recent banking problems, ask the bank directly whether they will open an account before you submit an application.
- No-fee online banks save you money over time, but you lose the ability to deposit cash unless the bank partners with a retail network.
- The fastest route is a phone app; the most reliable route is a branch visit with your ID and proof of address.
Online banks that open in minutes with no fees
Chime opens an account through its app in about three to five minutes. You need a valid ID, your Social Security number, and a phone number. There is no minimum balance, no monthly fee, and no overdraft fees — if you overdraw, the transaction is declined. Chime partners with MoneyLion and Allpoint ATM networks, so you can withdraw cash at thousands of ATMs without a fee. Direct deposit hits your account up to two days early.
Varo works the same way: app-based, five-minute opening, no minimums, no monthly fees, no overdraft fees. Varo reimburses ATM fees up to $20 per month if you use an out-of-network ATM. Both banks are FDIC-insured, so your money is protected up to $250,000.
Charles Schwab takes about ten minutes online and has no monthly fees, no minimum balance, and no overdraft fees. Schwab reimburses all ATM fees worldwide, which is useful if you travel or live far from their ATM network. Schwab also offers a debit card and online bill pay. The catch is that Schwab has no physical branches — everything is online or by phone.
Banks with branches if you need to deposit cash in person
Chase has the most branches of any U.S. bank. Opening an account online takes 10 to 15 minutes; opening in a branch takes 20 to 30 minutes. Chase charges $35 overdraft fees unless you opt out of overdraft coverage or maintain a $500 minimum balance. Chase does not charge a monthly fee for most checking accounts. You can deposit checks through the mobile app or at an ATM, and you can deposit cash at any Chase branch or ATM.
Bank of America has the second-largest branch network. Opening online takes 10 to 15 minutes; opening in a branch takes 20 to 30 minutes. Bank of America charges $35 overdraft fees unless you opt out or maintain a $1,500 minimum balance. There is no monthly fee for most accounts. You can deposit checks through the app or at an ATM, and deposit cash at any branch or ATM.
Wells Fargo also has thousands of branches. Opening takes 10 to 15 minutes online or 20 to 30 minutes in a branch. Wells Fargo charges $35 overdraft fees and has a $25 monthly fee for most checking accounts unless you maintain a $500 minimum balance or set up direct deposit. Wells Fargo has faced regulatory restrictions in recent years, so opening an account can take longer and require more documentation than at other banks.
Banks that work with people who have banking problems
If you have been flagged in ChexSystems — a banking history database — some banks will still open an account for you. ChexSystems flags appear when you overdraw an account, bounce checks, or close an account with a negative balance. A flag stays on your record for five years.
Chime, Varo, and Charles Schwab do not use ChexSystems, so a flag will not stop you. LendingClub and Aspiration also open accounts for people with ChexSystems flags. Some credit unions have second-chance programs — call your local credit union and ask whether they have a checking account for people with banking history issues.
If you have no credit history or a recent eviction, call the bank before you apply. Ask whether they will open an account with your ID and proof of address. Some banks will; others will ask for additional documentation like a utility bill or a letter from an employer. Knowing this before you apply saves you from multiple rejections, which can make future applications harder.
Speed comparison: online versus branch versus phone
| Method | Time to open | What you need | Best for |
|---|---|---|---|
| Mobile app (Chime, Varo) | 3–5 minutes | ID, Social Security number | Speed, no fees, no branches needed |
| Online (Chase, Bank of America, Schwab) | 10–15 minutes | ID, Social Security number, proof of address | Speed, some branch access |
| Branch visit (Chase, Bank of America, Wells Fargo) | 20–30 minutes | ID, proof of address, sometimes employment letter | Immediate cash deposit, talking to staff |
| Phone (most banks) | 15–30 minutes | ID, Social Security number, proof of address | People who prefer not to use apps or visit branches |
What happens after you open the account
Once your account is open, you will receive a debit card in the mail within 5 to 10 business days. Most banks let you use a temporary digital card in the app immediately. You can set up direct deposit right away — your employer will need your routing number and account number, which you can find in the app or on your first statement.
If you opened with an online bank and need to deposit cash, you have a few options. Chime and Varo partner with retail networks where you can deposit cash at participating stores. Charles Schwab has no cash deposit option, so if you receive cash regularly, Schwab may not be the right choice. If you opened with a branch bank, you can deposit cash at any branch or ATM.
Frequently Asked Questions
Can I open a checking account if I have been rejected before?
Yes. If you were rejected because of a ChexSystems flag, open with Chime, Varo, or Charles Schwab instead — they do not use ChexSystems. If you were rejected for other reasons, call the bank and ask what documentation they need. A second rejection can make future applications harder, so ask before you apply.
Do I need a minimum balance to avoid fees?
Online banks like Chime and Varo have no minimum balance and no monthly fees. Traditional banks like Chase and Bank of America charge monthly fees unless you maintain a balance (usually $500 to $1,500) or set up direct deposit. If you cannot maintain a balance, an online bank is cheaper.
Can I deposit checks with my phone?
Yes. Almost all banks let you photograph a check with their mobile app and deposit it without visiting a branch. The check clears in one to three business days. Cash deposits still require a branch visit, an ATM, or a retail partner location.
What if I overdraw my account?
Online banks like Chime and Varo decline the transaction and charge no fee. Traditional banks like Chase charge $35 per overdraft unless you opt out of overdraft coverage. Opting out means transactions are declined instead of approved and charged.
How long does it take to receive my debit card?
Most banks mail a debit card within 5 to 10 business days. Many banks let you use a temporary digital card in the app immediately, so you can make purchases online or in stores right away without waiting for the physical card.