How to Open a Bank Account Online With No Deposit

Yes, you can open a bank account online with no deposit. Plenty of online banks and a few big national banks let you apply, get approved and receive your account and routing numbers without moving a cent. The catch is that "no deposit" only covers the day you open. Monthly fees, minimum balances and bonus rules are separate questions, and they decide whether the account stays free.

Best accounts you can open online with $0

The table compares accounts that list a $0 minimum opening deposit. We pulled opening deposits, fees and bonuses from our own product listings; bank terms change often, so confirm on the bank's site before you apply.

If you want no fees at all, Chime, SoFi Checking and Savings and Discover Cashback Debit Checking are the cleanest picks: $0 to open, no monthly maintenance fee and no minimum balance requirement. Capital One 360 Checking works the same way and gives you access to Capital One branches and cafes in some cities.

Chase Total Checking is the outlier. It costs $0 to open, but the $12 monthly fee applies unless you meet a waiver, such as $500 or more in monthly electronic deposits. That's fine if your paycheck lands there, and a bad deal if it doesn't.

Two accounts that come up in these searches do ask for money up front. Wells Fargo Everyday Checking has a $25 opening deposit and a $15 monthly service fee you can avoid with qualifying activity. Alliant Digital Checking lists a $25 minimum deposit and requires credit union membership. Neither is expensive, but neither is a true $0 start. For the full list, compare checking accounts side by side.

How to open a bank account online with no deposit

The FDIC's guide to opening a bank account walks through the same process and is worth a look if this is your first account. If you're unsure which type to open first, here's what a checking account is and how it differs from savings.

No deposit to open vs. no minimum balance vs. no monthly fee

These three phrases get used as if they mean the same thing. They don't, and mixing them up is how a "free" account ends up charging you.

No minimum opening deposit

You can open the account with $0. That's all it promises. It says nothing about what happens after day one.

No minimum balance requirement

You don't have to keep a set amount in the account to avoid a fee or to earn the advertised rate. Some accounts take $0 to open but charge a fee if your balance falls below, say, $1,500.

No monthly maintenance fee

The account doesn't charge a recurring fee at all, or charges one only when you miss a waiver. Chase Total Checking is the clearest example of an account that is $0 to open but not free by default.

The account you want checks all three boxes. If you plan to park cash rather than spend it, look at high-yield savings accounts instead, since most checking accounts pay little or no interest. Our checking vs. savings guide covers the split.

No-deposit bank accounts with a sign-up bonus

Searches for an "instant sign-up bonus, no deposit" account mostly end in disappointment, and it's better to know that before you apply. Opening with $0 is easy. Getting the bonus almost never is. Nearly every checking bonus requires a qualifying direct deposit after you open, usually within 60 to 90 days.

Chase pays $400 once you receive $500 or more in qualifying direct deposits within 90 days. SoFi's bonus is up to $400, with the top tier reserved for larger direct deposits. Chime advertises up to $350 tied to qualifying activities, so read the terms for what counts.

Discover Cashback Debit is the one option here that pays without any direct deposit: 1% cash back on up to $3,000 in debit card purchases each month. That's not a sign-up bonus, but it's money you can earn on an account you opened with $0. Browse current bank account bonuses to see which offers fit how you actually get paid.

Can't get approved? ChexSystems and second-chance options

Banks don't usually pull your credit score to open a checking account. Many do check ChexSystems, a consumer reporting agency that tracks closed accounts, unpaid overdrafts and suspected fraud. A negative record can stay on file for up to five years and is a common reason for a denial.

You're entitled to a free copy of your file each year, and you can request your ChexSystems report to see what a bank sees. If something is wrong, dispute it. If it's accurate, pay off what you owe and ask the old bank to report the balance as paid.

If you're still being turned down, you have three routes. Some online banks, including Chime, say they don't run a credit check to open an account. Second chance checking accounts from banks and credit unions accept applicants with a ChexSystems record, often with a small monthly fee. And Bank On certified accounts meet national standards for low cost, including no overdraft fees, and are offered by hundreds of banks and credit unions.

The CFPB guidance on bank accounts covers what to do if you're denied and how to find an account that fits.

What happens if you leave the account at $0

Opening an account and never funding it is allowed, but it isn't free of risk. Some banks close accounts that stay at a $0 balance, often within 30 to 90 days. Others leave them open but dormant. Either way, a closure for non-use doesn't hurt your credit score.

The bigger risk is fees. If the account has a monthly maintenance fee that you can't waive at a $0 balance, the bank can push you into a negative balance. An unpaid negative balance can then be reported to ChexSystems. Stick to accounts with no monthly fee if you might not fund it right away.

Once money arrives, make sure it's protected. Banks carry FDIC deposit insurance up to $250,000 per depositor, per bank, per ownership category, and credit unions carry the same coverage through the NCUA. Fintech apps, often called neobanks, like Chime aren't banks themselves; your deposits are insured through their partner banks.

FAQ