Open a Checking Account Online With No Deposit at These Banks

Short Answer: While many banks require a deposit to open a checking account, there are some places where you can open a checking account for free with no deposit. Some online and brick-and-mortar banks that offer free checking with no opening deposit include Citi, Fifth Third Bank, Simple, and Varo. Keep in mind, you may be required to fund the account within 30 or 45 days, but there is usually no set amount required for account funding. Below, we have more details on where you can open a checking account with no deposit, either online or at a branch.

Where Can I Open a Checking Account Online With No Deposit? Or at a Branch?

You can open a checking account with no deposit through online banks like Ally and Simple, as well as traditional banks like Fifth Third Bank and Huntington. We have the list of online and brick-and-mortar banks that offer free checking accounts with no opening deposit. For each bank, we’ve listed the available account types and requirements, plus any applicable fees. (We’ve also included the list of banks that require opening deposits so you aren’t left wondering.)

Note: We compiled this list by finding account information and disclosures on each bank’s website, and by contacting the banks’ customer service departments.

Free Online Checking Accounts With No Opening Deposit

The following banks let you open a free checking account online with no deposit required.

Ally

  • No-deposit accounts: Ally Interest Checking Account
  • Service charges: None
  • Minimum monthly deposit/balance: None
  • Other requirements: While Ally doesn’t require a deposit when you open your account, you will need to fund the account within 30 days of opening it. There is no set amount required for funding your account; it can be any amount over $0.01. You can use your account immediately after funding it. Additionally, Ally will check your credit history when you apply, but there is no minimum credit score requirement.
  • Learn more or open an account at Ally.com.

See our article for information on whether or not Ally offers business checking accounts.

Discover

  • No-deposit accounts: Cashback Debit
  • Service charges: None
  • Minimum monthly deposit/balance: None
  • Other requirements: You can only have one individual or joint Cashback Debit account at any given time. After opening your account, you’ll need to register for an online account at Discover.com within 15 days or Discover will close the account. You can use your account as soon as you fund it, which should be within 45 days of opening the account; there is no minimum balance or funding requirement.
  • Learn more or open an account at Discover.com.

PNC

  • No-deposit accounts: Virtual Wallet, Virtual Wallet with Performance Select, Virtual Wallet with Performance Spend, and Virtual Wallet Student. There is a $25 minimum deposit to open one of these accounts at a branch, but the deposit fee is waived if you open your account online.
  • Service charges:
    • Virtual Wallet: $7 per month
    • Virtual Wallet with Performance Select: $25 per month
    • Virtual Wallet with Performance Spend: $15 per month
    • No service charge for Virtual Wallet Student while enrolled as a student
  • Minimum monthly deposit/balance: None, though your monthly service charge can be waived if certain criteria are met; criteria varies by account but can be found in your Account Summary.
  • Other requirements: PNC does not have a minimum credit score requirement for any of its Virtual Wallet accounts, but it will consider your banking history.
  • Learn more and apply online at PNC.com.

Simple

  • No-deposit accounts: Simple only has one account type — a fee-free mobile bank account.
  • Service charges: None
  • Minimum monthly deposit/balance: None
  • Other requirements: You’ll need a smartphone with the Simple app to use some account features. You can use your account as soon as you fund it; your debit card should arrive within two weeks. You can fund your account with a direct deposit, mobile check deposit, or transfer from another bank account in any amount. Simple does not run a traditional credit check, but it will check your banking history when considering your application.
  • Learn more or apply at Simple.com.

Varo

  • No-deposit accounts: Varo Bank Account
  • Service charges: None
  • Minimum monthly deposit/balance: None
  • Other requirements: There is no minimum credit requirement; Varo does not run a credit check when you apply for a Varo Bank Account. There is no set amount or minimum balance with which you must fund your account. You can begin using your Varo Bank Account as soon as you fund it and your debit card arrives (typically within nine days after opening the account).
  • Download the Varo app to apply for a Varo Bank Account.

Brick-and-Mortar Banks That Have Free Checking Accounts With No Opening Deposit

The following brick-and-mortar banks offer free checking accounts with no opening deposit. You can apply at a branch or, in some cases, online.

Capital One

  • No-deposit accounts: 360 Checking and MONEY Teen Checking
  • Service charges: None
  • Minimum monthly deposit/balance: None
  • Other requirements: You can use your account as soon as you fund it (with no minimum balance or funding amount); your debit card should arrive within three business days of opening the account. MONEY Teen Checking requires an adult joint account holder and must be converted to a 360 Checking account when the account holder turns 18.
  • Open a 360 Checking or MONEY account at Capital One’s website or find a Capital One branch near you.

Citi

  • No-deposit accounts: Access Account, Basic Banking, Citigold, Citi Priority, and The Citibank Account
  • Service charges:
    • Access Account: $10
    • Basic Banking: $12
    • Citigold: None
    • Citi Priority: $30
    • The Citibank Account: $25
  • Minimum monthly deposit/balance:
    • Access Account: None; $1,500 balance to waive the monthly service fee
    • Basic Banking: None; $1,500 balance to waive the monthly service fee
    • Citigold: $200,000
    • Citi Priority: None; $50,000 balance to waive the monthly service fee
    • The Citibank Account: None; $10,000 balance to waive the monthly service fee
  • Other requirements: In most cases, you can use your account as soon as Citi approves your application and you fund the account, but some services — like wire transfers — may be delayed for one or more business days at the discretion of the bank. There is no set minimum for account funding. Citi also has no set credit requirement to open any of the accounts listed above, but it does pull a consumer report during approval.
  • Learn more at the Citi website or find a Citi branch near you.

Fifth Third Bank

  • No-deposit accounts: Enhanced Checking, Essential Checking, Express Banking, Military Checking, and Preferred Checking
  • Service charges:
    • Enhanced Checking: $20
    • Essential Checking: $11, reduced to $8 if you have direct deposits of $500 or more per month
    • Express Banking: None
    • Military Checking: None
    • Preferred Checking: $25
  • Minimum monthly deposit/balance:
    • Enhanced Checking: None; $20,000 balance or $5,000 in direct deposits to waive the monthly service fee
    • Essential Checking: None; $1,500 balance to waive the monthly service fee
    • Express Banking: None
    • Military Checking: Monthly direct deposits for $500 or more, or a $1,500 average balance across your linked checking and investment accounts
    • Preferred Checking: None; $100,000 to waive the monthly service fee
  • Other requirements: While there is no minimum deposit to open any of the account types listed above, you’ll need to fund your account within 45 days of opening. There is no minimum amount for funding your account. There is no minimum credit score requirement.
  • Learn more at 53.com or find a Fifth Third Bank branch near you.

HSBC

  • No-deposit accounts: Basic Banking, Choice Checking, HSBC Advance, and HSBC Premier
  • Service charges:
    • Basic Banking: $3
    • Choice Checking: $15
    • HSBC Advance: $25
    • HSBC Premier: $50
  • Minimum monthly deposit/average balance:
    • Basic Banking: None
    • Choice Checking: None; $1,500 balance to waive the monthly service fee
    • HSBC Advance: None; $10,000 balance to waive the monthly service fee
    • HSBC Premier: None; $100,000 balance to waive the monthly service fee
  • Other requirements: To have no opening deposit, a bank representative will need to open your account at a branch; opening an account online requires a minimum deposit of at least $1.
  • Find an HSBC branch near you.

Huntington Bank

  • No-deposit accounts: Asterisk-Free Checking, Huntington 5 Checking, and Huntington 25 Checking
  • Service charges:
    • Asterisk-Free Checking: None
    • Huntington 5 Checking: $5
    • Huntington 25 Checking: $25
  • Minimum monthly deposit/balance:
    • Asterisk-Free Checking: None
    • Huntington 5 Checking: None; $5,000 balance to waive the monthly service fee
    • Huntington 25 Checking: None; $25,000 balance to waive the monthly service fee
  • Other requirements: You can use your account once it’s opened and funded; it typically takes one business day for your application to process and your account to open. There is no minimum balance or funding amount. Huntington doesn’t run credit checks during the application process, so there is no minimum credit score required.
  • Find a branch or apply for a checking account at Huntington Bank’s website.

Want to know more about what you need to open a bank account? See our dedicated article on the requirements for checking, savings, and business accounts.

Banks That Require an Opening Deposit

During our research, we found several banks that require an opening deposit. There appear to be two different categories:

  • Banks that require an opening deposit but with no minimum
  • Banks that require a minimum opening deposit, such as $50 or $100

The following banks do not have a minimum deposit, meaning you can open an account with as little as $1:

The following banks require a minimum deposit (which may be anywhere between $10 and $500, depending on the bank and account type):

  • Arvest Bank
  • Aspiration
  • BancFirst
  • Bank of America
  • Bank of Hawaii
  • BBVA Compass
  • BMO Harris Bank
  • Camden National Bank
  • Chase Bank
  • Commerce Bank
  • E*TRADE Bank
  • First Internet Bank
  • Glacier Bank
  • GoBank
  • IBERIABANK
  • KeyBank
  • Level One Bank
  • MemoryBank
  • nbkc bank
  • People’s United Bank
  • Pinnacle Bank
  • Radius Bank
  • Regions
  • Salem Five Direct
  • Santander Bank
  • SunTrust
  • TCF Bank
  • Trustmark
  • USAA
  • U.S. Bank
  • Wells Fargo

In Summary

Online banks like Ally and Simple offer checking accounts with no deposit required. Some traditional banks, including Citi, HSBC, and Huntington, also have accounts with no opening deposit. Other banks like Bank of the West and Citizens Bank require an opening deposit, but the deposit can be any amount — meaning you could open an account with as little as $1. Banks requiring opening deposits of $10 or more include Bank of America, Chase Bank, and Wells Fargo.

Wondering what time to visit the bank to discuss your account options? See our article for a list of branch hours at major banks. We also have the details of when to expect your direct deposit at each bank and banks that offer safe deposit boxes.

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