Banks that open accounts online without a branch visit
Most large banks and nearly all online-only banks let you open a checking or savings account from your computer or phone without stepping into a branch. The major national banks—Chase, Bank of America, Wells Fargo, Citibank—all have online account opening. So do regional banks like US Bank, PNC, and Ally. Online-only banks like Chime, Charles Schwab, Discover, and Capital One 360 exist only online and have no branches at all.
The real difference is not whether you can open online, but what happens next. A traditional bank with branches will let you deposit checks by mail or mobile app, but you might want a branch nearby for cash deposits or to talk to someone in person. An online-only bank has no branches, so you need to be comfortable depositing checks by phone camera or transferring money electronically. Some online banks partner with ATM networks or retail locations (like Walmart or CVS) for cash deposits and withdrawals.
Opening online takes 10 to 20 minutes. You will need a government-issued ID, your Social Security number, proof of address (a recent utility bill or lease), and a way to fund the account—either a debit card, another bank account, or a wire transfer. Some banks verify your identity instantly through a video call with an employee; others use a third-party verification service that checks public records.
Key Takeaways
- Chase, Bank of America, Wells Fargo, and most other national banks open accounts online, though they also have physical branches you can visit later.
- Online-only banks like Chime, Charles Schwab, Discover, and Ally have no branches but lower fees and often higher interest rates on savings.
- You will need a government ID, Social Security number, proof of address, and a way to fund the account before you start the online process.
- Identity verification happens instantly for most banks, either through video call or automated record checks, so you can use the account the same day.
- Check the bank's ATM network and deposit methods before opening—online banks vary widely in how easy it is to deposit cash or checks.
National banks with full online account opening
Chase, Bank of America, Wells Fargo, Citibank, and US Bank all let you open a checking account online and start using it immediately. You can deposit checks by taking a photo with the mobile app, transfer money from another bank, or set up direct deposit. If you need to deposit cash, you can do it at any branch or ATM owned by that bank.
These banks charge monthly fees ranging from $0 to $15 depending on the account type and whether you meet requirements like keeping a minimum balance or setting up direct deposit. Most waive the fee if you maintain a certain balance—often $500 to $1,500—or receive direct deposit. They also offer debit cards, online bill pay, and customer service by phone or chat.
The trade-off is that these banks typically pay very low interest on savings accounts—often 0.01% or less. If you are opening a savings account to earn interest, a national bank is usually not the best choice. But if you want a checking account with easy access to branches and ATMs, a national bank is straightforward.
Online-only banks and their advantages
Chime, Charles Schwab, Discover Bank, Capital One 360, and Ally are banks that exist only online. They have no physical branches. In exchange, they typically charge no monthly fees, no overdraft fees, and pay higher interest on savings accounts—sometimes 4% to 5% depending on the account and current rates.
Opening an account takes the same 10 to 20 minutes as a traditional bank. You provide ID, Social Security number, and proof of address, and the bank verifies you instantly. You can fund the account by linking another bank account and transferring money, or by having your employer send direct deposit there.
The catch is that you cannot walk into a branch or deposit cash at an ATM. Chime and some others partner with retail locations—Chime works with MoneyLion ATMs and some Walgreens locations—so you can withdraw cash there. Charles Schwab reimburses ATM fees worldwide, so you can use any ATM and get your money back. Discover and Capital One 360 have their own ATM networks or partnerships. Check the specific bank's website to see which ATMs you can use for free in your area.
Credit unions that open accounts online
Many credit unions now open accounts online, though the process varies. Some large credit unions like Connexus, Pentagon Federal Credit Union, and Alliant Credit Union open accounts entirely online without requiring you to visit a branch or have a sponsor. Smaller local credit unions may require you to visit in person or have a family member who is already a member.
Credit unions often charge no monthly fees and pay competitive interest rates on savings. They also tend to have lower overdraft fees or none at all. The downside is that credit unions have smaller ATM networks than banks—you may have access only to ATMs owned by that credit union or a shared network like CO-OP or Allpoint. Before opening, check whether the credit union's ATM network covers places where you live and work.
To open a credit union account online, you will need the same documents as a bank: ID, Social Security number, and proof of address. Some credit unions also require you to join the credit union itself, which may involve a small membership fee ($5 to $25) or a deposit into a share savings account.
What you need to open an account online
Every bank requires the same basic information to open an account online. You need a government-issued photo ID—a driver's license, passport, or state ID card. You need your Social Security number. You need proof of your current address, usually a utility bill, lease, or recent bank statement dated within the last 60 days. Some banks accept a government document like a tax return or voter registration card instead.
You also need a way to fund the account. Most banks let you link another bank account and transfer money electronically—this is the fastest way and usually takes one business day. Some banks accept debit card funding, though they may limit the amount. A few accept wire transfers or checks by mail, but these are slower.
The bank will verify your identity during the process. This happens in one of two ways: either you have a brief video call with a bank employee who checks your ID, or the bank uses an automated service that checks your name, address, and Social Security number against public records. Video verification is faster and more reliable, but not all banks offer it. The whole process takes 10 to 20 minutes, and most banks let you use the account the same day.
Comparing fees and features across online banks
| Bank Type | Monthly Fee | Interest Rate (Savings) | ATM Access | Branches |
|---|---|---|---|---|
| Chase, Bank of America, Wells Fargo | $0–$15 (waived with direct deposit or balance) | 0.01%–0.05% | Owned ATMs + network | Thousands nationwide |
| Chime, Capital One 360 | $0 | 2%–5% (varies) | Partner networks | None |
| Charles Schwab | $0 | 4%–5% (varies) | Any ATM, fees reimbursed | None |
| Discover Bank | $0 | 4%–5% (varies) | Discover network + partners | None |
| Online credit unions | $0–$5 | 2%–4% | Credit union network | None or limited |
The choice depends on what matters to you. If you want a checking account with easy cash access and do not care about savings interest, a national bank is fine. If you want high interest on savings and do not mind no branches, an online-only bank is better. If you want both low fees and a smaller community feel, a credit union may work.
How to choose between options
Start by deciding whether you need a physical branch. If you deposit cash regularly or prefer talking to someone in person, a national bank or a credit union with branches makes sense. If you handle everything by phone, app, or mail, an online-only bank works fine.
Next, check the ATM network. If you travel or live in a rural area, make sure the bank's ATMs are near you. Charles Schwab reimburses all ATM fees, so you can use any ATM anywhere. Chime and Capital One 360 have smaller networks, so check their ATM locator on their website before opening.
Then look at fees and interest rates. Most online banks charge no monthly fee, while national banks charge $0 to $15 depending on the account. If you are opening a savings account, compare interest rates—online banks typically pay 4% to 5%, while national banks pay 0.01% to 0.05%. The difference adds up over time.
Finally, read reviews about customer service. Some online banks have excellent phone and chat support; others are harder to reach. If you think you might need help, check the bank's website to see what support options they offer and read recent reviews on independent sites.
Frequently Asked Questions
Can I open a bank 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 accept an ITIN if you are a non-citizen with a U.S. tax ID. Call the bank directly to ask whether they accept ITINs, as policies vary.
How long does it take to use my account after opening it online?
Most banks let you use your account the same day you open it. You can transfer money from another bank account immediately, though the transfer itself takes one to three business days. If you need to deposit a check, you can photograph it with the mobile app right away, but the bank may hold the funds for one to five business days.
What happens if the bank cannot verify my identity online?
If automated verification fails, the bank will ask you to visit a branch in person, mail in copies of your documents, or have a video call with an employee. Some banks will not open your account if they cannot verify you online. If this happens, try a different bank or visit a branch of a national bank near you.
Can I open multiple accounts at the same bank online?
Yes. Once your first account is open, you can open additional checking or savings accounts online without repeating the full verification process. Most banks let you do this through the mobile app or website in a few minutes.
Do online banks report to credit bureaus?
Bank accounts themselves do not appear on your credit report. However, if you overdraft and the bank sends the debt to a collection agency, that will show up on your credit report. Most online banks charge no overdraft fees or offer overdraft protection, so this is less likely than with traditional banks.