Easiest Bank Account to Open Online [2024] Easy Bank Accounts
By Maddy Scheckel There are 4,136 banks in the U.S. That’s a lot – so how can you choose between them?
One option is to choose the easiest bank account to open online.
These days, you don’t need to visit a physical bank to open an account. And seriously, who has time for that?
You can apply for a bank account right from the comfort of your couch. Or your favorite coffee shop. Or wherever you like!
Below, I’ll walk you through the easiest bank accounts to open online.
Juggling various financial obligations, needs and goals is always tough. The last thing anyone needs to worry about losing their money to hidden fees being charged by their banks.
Banks make billions of dollars in fees every year — account maintenance fees, overdraft fees, transaction fees. Basically, whatever service a bank provides, there’s typically a fee associated with it one way or another.
Let’s call it as we see it: This is just dumb.
When you bank with Chime you won’t have to worry about hidden fees eating up your hard-earned money.
Here’s why we love it, and a few reasons why it might not be right for you.
The Pros:
- Chime accounts have no minimum balance fees, monthly fees or foreign transaction fees
- It has more than 38,000 fee-free ATMs via Visa Plus Alliance and MoneyPass.
- Gives access to your paycheck up to 2 days early when you set up direct deposit
- Allows you to save money towards your goals with automatic round ups on purchases made with the Chime debit card
The Cons:
- Chime doesn’t offer joint accounts
- There are ATM fees when you choose an out-of-network ATM
- Chime doesn’t offer personal checks, though it can send one on your behalf
If a Chime bank account sounds like it would be a game-changer for you (and it would be for a lot of people) make a $200 deposit, and get started. It only takes two minutes to sign-up.
Top Picks for Easiest Bank Account to Open Online
Choosing a bank might be a big decision, but it doesn’t have to be stressful. The key is to know what you’re looking for and then go and find it!
If you’re reading this article, you’ve probably decided to prioritize convenience. Good choice! Who wants to spend their whole life sitting in a bank?
But beyond convenience, what features are you looking for? And what sort of vibe do you want from your bank?
Whatever you’re after, you’ll find it on this list of the easiest bank accounts to open online.
1 – Chime
There are a few reasons why Chime might be the easiest bank account to open online:
- There’s no minimum balance.
- There’s no credit check.
- Applying often takes less than 2 minutes.
You can apply for Chime online or in the mobile app. All you’ll need to get started is your name, social security number, and email address. From there, you can download the Chime mobile app and appreciate the joys of app-based banking.
Source: Chime
You can use Chime for:
- Checking accounts
- Savings accounts
- Credit building
You’ll control your accounts through the mobile app, which is so popular with users that it has a 4.8-star rating in the Apple App Store.
You can also take advantage of the automatic saving features:
- Round Ups – Sends the change from every purchase directly to your sayings account
- Save When I Get Paid – Automatically deposits a portion of every paycheck into your savings account
If you’re having trouble meeting your saving goals, these features can seriously help. And that’s why Chime is more than just a bank account. It’s a comprehensive, app-based money management system – and it’s perfect for the modern consumer!
Chime also lets you make money just for opening a bank account or inviting a friend to after you join with the Chime referral bonus.
| Pros: | Cons: |
| No monthly fees | A smaller number of products (no loans, money market accounts, or CDs) |
| No minimum balance requirements | Only 2.00% APY on savings (at the time of writing) |
| Fee-free access to 60,000+ ATMs | No mobile check deposit unless you receive direct deposits, too |
Read my full Chime review here.
2 – Revolut
Revolut is another app-based banking platform that you can sign up for on your phone.
Your first step is to download the Revolut mobile app.
From there, you’ll have to provide some basic information, including:
- You name
- Your date of birth
- Your address
That’s not much, is it? And that’s why Revolut might be the easiest bank account to open online.
And why would you want to use Revolut in the first place? Well, it’s a comprehensive money-management platform built for modern users.
With Revolut, you can:
- Make payments
- Exchange currencies
- Get a debit card
- Earn interest on savings
- Invest in stocks
- Track your expenses and create a budget
Revolut’s wide range of services is perfect for navigating a complex, interconnected world – while the convenience of the mobile app makes it feel simple.
Just be aware that Revolut is a tiered service, and only the most basic plan is free.
| Pros: | Cons: |
| “Savings Vaults” are FDIC-insured | You need a paid subscription to access all the features |
| Great features for international banking (currency exchange, transfers, etc.) | The top service tier costs $16.99/month (at the time of writing) |
| “Standard Plan” is completely free |
Check out my complete Revolut review.
3 – Current
Current is a user-friendly digital banking platform, and there’s no credit check when you apply.
To sign up, you’ll need to provide a few pieces of basic information:
- Your social security number
- Your address (must be a residential address, not a P.O. box)
- A phone number from a smartphone that can receive text messages
Current is designed to help you avoid fees and build credit. It partners with Choice Financial Group and Cross River Bank to provide FDIC-insured accounts, and you can access your money at over 40,000 fee-free ATMs.
So if you’re searching for an easy open checking account online, Current is a fantastic option!
| Pros: | Cons: |
| High APY on “Savings Pods” (4.00% at the time of writing) | You can only earn interest on savings up to $6,000 |
| No monthly fees | $3.50 fee for cash deposits |
| A highly-rated mobile app (4.7 stars in the Apple App Store) | You can only deposit up to $500 at a time |
Click here for an in-depth Current Bank review.
4 – CIT Bank
CIT Bank is an online-only bank offering a wide range of financial services. It’s a bit more of a “traditional bank” than some other companies on this list, but you can still complete your application in just 5 minutes!
To open an account with CIT Bank, you’ll need to provide your:
- Address
- Email address
- Social security number
- Phone number
And you can sign up right through the CIT Bank website. That’s why this might be the easiest bank account to open online!
CIT Bank offers pretty much all the standard banking products you’d imagine, including:
- Saving accounts
- Checking accounts
- CDs
- Money market accounts
- Home loans
It’s also a member of the FDIC, so the first $250,000 in your account will be federally insured.
| Pros: | Cons: |
| High yields on savings accounts (up to 4.95% at the time of writing) | $5,000 minimum balance requirement to earn the highest APY |
| A wide variety of banking services | Lower yield for the money market account (1.55% APY at the time of writing) |
| A highly rated mobile banking app (4.6 stars in the Apple App Store) |
For more information, read this CIT Bank review.
5 – Varo
You can sign up for Varo online, or you can download the Varo mobile app. And to get started, you’ll only have to provide three things:
- Your email address
- Your mobile phone number
- A password
That’s why Varo might be the easiest bank account to open online!
Source: Varo
Varo acts like a checking account, allowing you to transfer money, withdraw cash from 40,000+ fee-free ATMs, and even receive your paycheck two days early with direct deposit. So it’s safe to consider Varo an “easy open checking account online!”
Varo also offers savings accounts, where your first $5,000 will earn 5.00% APY if you receive $1,000 per month in qualifying direct deposits (rate accurate at the time of writing).
And you can control your money through the Varo mobile app, which gets 4.9 stars on the Apple App Store.
| Pros: | Cons: |
| High-yield savings (up to 5.00% APY at the time of writing) | Must receive $1,000/month in direct deposits to earn maximum APY |
| Early paychecks with direct deposit (up to two days early) | No CDs available |
| A user-friendly mobile app (4.9 stars in the Apple App Store) | No money market accounts are available |
6 – Wise
Wise is a great option for international banking, and it’s super easy to open an account online.
To get started, all you have to do is:
- Go to the official Wise website and click “Register”
- Sign in with your email, Google account, Facebook account, or Apple account
- Choose between a personal account or a business account
- Verify your phone number
- Create a password
Wise was once called “TransferWise,” and international transfers remain an important part of the service.
With Wise, you can send money to 160 countries and in 40 different currencies – and it’s often cheaper than using a traditional bank.
But Wise isn’t just for transferring money.
Along with international transfers, you can also use your Wise account to:
- Earn interest on your U.S. dollars, just like with a savings account (up to 4.13% APY at the time of writing)
- Exchange currencies
- Spend money and withdraw cash with a Wise Card, which is basically an international debit card
So are you a world traveler? An immigrant worker? Someone who simply needs to exchange currencies for whatever reason?
If so, then Wise is seriously worth considering!
| Pros: | Cons: |
| Decent yields for money held in USD (4.13% APY at the time of writing) | Limited banking services (mostly focused on international transfers) |
| Great for international transfers (40 currencies to 160 countries) | No cash delivery (transfers must be sent to a bank account) |
| Fair exchange rate when using the Wise Card abroad | No cash deposits |
Commonly Asked Questions About The Easiest Bank Account to Open Online
What is The Easiest Bank to Get Approved For?
Some of the easiest banks to get approved for include:
- Chime (read Chime review here)
- Revolut (read Revolut review here)
- Current (read Current Bank review here)
- CIT Bank (read CIT Bank review here)
- Varo
- Wise
- Quontic Bank (read Quontric Bank review here)
- Upgrade (read Upgrade bank review here)
- Fierce (read Fierce Finance app review here)
- Raisin (read Raisin review here)
These are also contenders for the easiest bank account to open online.
If you’d like to learn which budgeting app could best help you manage your finances and boost your savings, check out these comparisons of Rocket Money vs the competition:
Then use a net worth tracker to see how your new financial strategies are paying off.
What Bank Account Can I Open Instantly?
You can’t usually open a bank account instantly because the bank needs to verify your information. But there are a few banks where you can apply for an account in 2-5 minutes, including Chime and CIT Bank. From there, you should be able to get verified in a few days.
And if you’re looking to boost your bank balance fast, check out these banks with immediate sign-up bonus.
What Bank Can I Open Online Without Going to The Bank?
There are lots of digital banks available today where you can open an account without visiting a physical branch. CIT Bank is one option. It offers pretty much all the services you’d expect from a traditional bank, and you can apply in just 5 minutes online.
Can I Open a Bank Account 100% Online?
You can absolutely open a bank account 100% online. With lots of newer banks, the whole application and verification process is designed to be digital. Chime might be the easiest bank account to open online, with the application taking just 2 minutes.
Easiest Bank Account to Open Without ID?
There is no bank account that you can open without an ID. That’s because banks and credit unions are legally required to verify customers’ identities before giving them an account.
Open Checking Account Online Instantly?
You can’t open a checking account instantly because banks need to verify your identity. But there are banks that let you apply online, and it often takes just 2-5 minutes. If it’s an “easy open checking account online” you’re after, I’d try Chime, CIT Bank, or Current.
Open a Bank Account With No Deposit Required?
Chime is an online banking platform where you can open an account without making an initial deposit. You can apply in just a few minutes, and your account will be opened once the verification process is complete – even if you don’t deposit any money!
