Nobody wants to jump through hoops just to open a bank account. What’s easiest for you may not be what’s easiest for the next person — but when it comes to an easy-to-open bank account, we know you mean free accounts with no deposit and fast application times.
You might also be looking for the easiest bank account to open with bad credit, so we paid special attention to accounts with no credit checks or ChexSystems reviews.
Here are our best picks for the easiest bank accounts to open online based on speed, convenience and cost.
5 easiest bank accounts to open online
SoFi Checking and Savings
Get up to $300 cash bonus with qualifying direct deposit. Terms apply. This offer is available until January 31, 2026.
SoFi® is an online bank that offers the popular SoFi Checking & Savings account, a hybrid option. There are no monthly fees, opening deposit requirements or balance requirements. Reports say the online application only takes a few minutes — it took us about 8 minutes on a desktop. The bank also doesn’t review an applicant’s ChexSystems report (banking history). And if you’re approved, SoFi offers a virtual debit card that you can add immediately to your digital wallet.
| APY | Up to 3.80% |
|---|---|
| Fee | $0 per month |
| Minimum deposit to open | $0 |
| APY | Up to 3.80% |
|---|---|
| Fee | $0 per month |
| Minimum deposit to open | $0 |
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Chime® Checking Account
A fintech company with banking partners, Chime® offers the Chime® Checking account and reports a two-minute application time. Chime also doesn’t review your ChexSystems report, making it a valuable option for those who struggle to get approved for deposit accounts. Chime doesn’t charge monthly service fees or require an opening deposit. With checking, you can get a virtual card immediately if you’re approved for the account.
| Fee | $0 per month |
|---|---|
| Minimum deposit to open | $0 |
| Fee | $0 per month |
|---|---|
| Minimum deposit to open | $0 |
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Varo
Existing and new customers get a $25 referral bonus when signing up for a Varo Bank account. T&C apply.
Varo is an online bank, sporting a fast and seamless signup experience, reporting to take only two minutes. Varo doesn’t do a hard credit check when you apply, and it doesn’t review your banking history with ChexSystems either. Varo’s account also has no monthly fees and no opening deposit requirement. You can get a virtual card instantly after approval, and as a major perk, Varo also offers up to 6% in cashback rewards on debit card purchases, up to $50 per month.
| Fee | $0 per month |
|---|---|
| Minimum deposit to open | $0 |
| Fee | $0 per month |
|---|---|
| Minimum deposit to open | $0 |
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Capital One 360 Checking
Earn $250 bonus when you use code CHECKING250 and set up at least 2 qualifying direct deposits each of $500 or more to your 360 Checking account within 75 days of account opening. Terms Apply.
A mostly online bank, Capital One states it only takes about five minutes to open a Capital One 360 Checking account. The account features are also great, offering 0.1% APY on all balances, no monthly fees, no opening deposit requirements and no foreign transaction fees. And like most online banks, Capital One offers a virtual card you gain access to instantly after approval. Capital One also stopped using ChexSystems in the early 2010s, and its 360 bank accounts have no credit score requirements.
| APY | 0.10% |
|---|---|
| Fee | $0 per month |
| Minimum deposit to open | $0 |
| APY | 0.10% |
|---|---|
| Fee | $0 per month |
| Minimum deposit to open | $0 |
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Ally Bank Savings Account
Ally Bank is another online bank with great offerings. Ally states you can open an account in about five minutes, and it doesn’t perform a credit check. Ally’s checking and savings accounts don’t require an opening deposit or minimum balance requirement. If you want to open a CD, Ally also doesn’t have a standard opening deposit requirement. Ally’s checking and savings accounts also feature something called Buckets, which lets you sort your funds into subaccounts to track your goals. However, it’s unclear if Ally Bank reviews your banking history when you apply for an account.
| APY | 3.60% |
|---|---|
| Fee | $0 |
| Minimum deposit to open | $0 |
| APY | 3.60% |
|---|---|
| Fee | $0 |
| Minimum deposit to open | $0 |
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Methodology: How we chose the easiest bank accounts to open
We compared dozens of online bank accounts to find the easiest to open. We considered application speeds, monthly fees, opening deposit requirements and the overall features of the accounts. We paid special attention to banks that skip a credit check and/or ChexSystems review.
To be considered on our list, the accounts must meet the minimum following criteria:
- Can be opened online
- No opening deposit
- No monthly fee
- Application time under 10 minutes
How to choose the easiest account to open online
Finding the “easiest” bank account to open is a bit of a gray area, but in general, here are some things to look for:
- Second chance labels. If you have a poor banking history, a second-chance account might be the best path to take. Second-chance bank accounts tend to have more lenient eligibility requirements and may be easiest to qualify for.
- No opening deposits. Depositing money into a new account is usually the last step required to officially open it. If you want to get your account up and running as soon as possible, look for accounts that don’t require an opening deposit.
- No ChexSystems. There are more than just the credit bureaus. ChexSystems is a reporting bureau that keeps track of your banking history for typically up to five years. If you have a poor ChexSystems report (which you can check online for free), you may want to find an account that doesn’t use that bureau, such as Chase, SoFi or Chime.
- No trips to branches. A few banks out there still require a trip to a physical branch to finish opening an account, especially if you’re opening a business account. To ensure you won’t need to visit a branch, consider an online bank that doesn’t have branches to begin with.
What if the account doesn’t open right away?
A bank might advertise that their application speed is fast, but sometimes, the bank needs to take some extra steps to open your account. If you’re missing identity information, forget to complete something on your application or something just seems fishy to the bank, it might take a few business days to reach an approval decision or fully open the account.
In general, you’ll receive an approval decision within one to three business days after applying for a bank account. For many online banks, you might receive an approval decision immediately if all is well.
How to open a bank account online
Bank account applications are rather straightforward, especially online ones. In general, expect to provide the following information to apply for a bank account online:
- Full name
- Home address
- Phone number
- Social Security number
- Email address
- Picture of your government-issued ID, such as a passport or driver’s license
While most bank accounts, like checking and savings, don’t have credit score requirements, some banks may perform a soft credit score inquiry to verify your identity. Many regulations require identity verification, so be truthful in your application.
Frequently asked questions
Can I open a bank account online and use it right away?
In many cases, yes, you can begin using your new bank account soon after opening. For example, Chime and SoFi offer virtual cards you can add to your digital wallet right away while you wait for a physical card to arrive in the mail. After setting up your mobile app, you can usually connect to external accounts to fund your new account, set up direct deposit, set up bill pay, link to peer-to-peer apps like Cash App and so on.
Are business accounts easy to open?
No, business accounts aren’t as easy to open as most personal bank accounts. Business accounts often require much more paperwork than personal account applications, such as your business’ information, Employer Identification Number (EIN), business license, Articles of Organization, Articles of Incorporation and more. Learn how to open a business account.
What bank account can I open online without going to the bank?
Most major banks, such as Chase, PNC, Wells Fargo, U.S. Bank and Bank of America, allow online applications without requiring a trip to a branch. And, of course, online banks such as SoFi, Varo and Primis have online applications, since they don’t have physical branches.
However, some smaller institutions, such as local credit unions or regional banks, may still require a trip to the bank to finish your application.
