Easiest US Accounts To Open (2024)

Banking is a part of modern life that's synonymous with bureaucracy. And perhaps no part of banking has traditionally been more complicated than the very act of opening a bank account itself, filled with all its stringent requirements, waiting times, and fine print!

It should come as no surprise, then, that more people than ever before are looking for a quick and easy way to open a checking account. And in 2023, as more and more of our financial lives rest on the internet, fintech platforms like Chime®, Revolut, Current, and many more are increasingly easy to do so.

In this guide, we detail six of the easiest bank accounts to open online in 2023, providing our assessments of each along the way.

The Easiest Bank Accounts To Open Online

Before we look at the rankings, it's worth trying to understand what we mean by a bank account being 'easy' to open. Simply put, the ease of opening a new bank account is contingent on four overarching factors:

1. Ease of application: This relates to how to open a bank account. For example, opening a bank account online or over the phone tends to be far more accessible than in person at a bank branch. Also relevant are how many IDs and documents you must submit, contracts you must sign, or tests you must undergo to open your account.
2. Speed of verification: Once you've applied for a bank account, your application is not guaranteed to be approved. (That being said, if you're eligible to open the account you're applying for, have all your documents in order, and aren't a fugitive, your application will probably be approved!) Verification speed varies dramatically from bank to bank, with some automated processes taking just seconds and longer manual verifications taking days or weeks.
3. No opening deposit: Some banks require opening deposits. Others have penalties if you do not keep your balances over a certain threshold. The accounts we review in this guide neither have opening deposit nor minimum deposit requirements.
4. No credit check: If banks issue lines of credit, overdraft facilities, or other forms of debit, they will often pull a hard credit check on your credit history, which can negatively impact your credit score. Banks can reject your application for an account if your credit score is below their internal requirements.

Last updated: 13 October 2023

6 Free Online Checking Accounts With No Opening Deposit and No Credit Check

In the rankings below, we've provided broad information about the ease of application and verification speed for various banks and fintech providers to help you decide which bank account might be easiest to open for you.

So, without further ado, here are our rankings for the six easiest bank accounts to open online in 2023:

Easiest: Chime

Monito Score

• Trust & Credibility

  9.5

• Service & Quality

  8.8

• Fees & Exchange Rates

  9.8

• Customer Satisfaction

  9.6

Go to Chime ❯

Founded in 2013, Chime® is one of the most popular mobile financial apps and debit cards in the US, as its 12 million customers can attest. You can open an account online through Chime in just two minutes with no credit check or minimum balance.

Once you're signed up, Chime will charge you no monthly fees¹ and give you a panel of features, including overdraft on debit card purchases and cash withdrawals⁵ offered via a special optional service called SpotMe®.

Chime also provides free in-network ATM withdrawals¹ and offers APY of 2.00% via its Chime Savings Account³ (to open this, you need to have opened a Chime Checking Account). There are a few downsides, most notably the fact that you won't be able to send or receive wire transfers, and you can pay a lot in fees if you need to add cash to the app. On the whole, though, Chime offers simple online checking that's well-liked by its users, and if you're looking for a mobile financial app and you don't need an extensive list of features, we believe that Chime is probably the best choice you could make.

To learn more, see our Chime review or visit their website.

2nd Easiest: Revolut

Monito Score

• Trust & Credibility

  8.9

• Service & Quality

  7.9

• Fees & Exchange Rates

  8.3

• Customer Satisfaction

  9.4

Try Revolut ❯

Revolut offers a mobile checking account and debit card in partnership with Metropolitan Commercial Bank and its savings and APY with Sutton Bank. On top of a host of personal finance features like early direct deposit, free ATM withdrawals or an interest-earning savings account, you can open junior accounts. Revolut also offers many internationally-oriented features, like ten free foreign transfers a month, free foreign exchange up to $1,000 a month, and the ability to hold a balance in foreign currencies, making it a good choice for those who frequently travel abroad.

For more information, see our Revolut review or visit their website.

3rd Easiest: Capital One

Monito Score

• Trust & Credibility

  8.9

• Service & Quality

  8.8

• Fees & Exchange Rates

  10

• Customer Satisfaction

  8.7

Try Capital One ❯

Exceedingly cheap to use — even when travelling abroad — and offering solid functionality with the peace of mind afforded by a reputable financial institution, Capital One's 360 Checking Account is one of the easiest bank accounts to open and provides US residents with a cheap, accessible and online way to bank. What's more, the application process is quick and can be done entirely online.

For more information, see our Capital One review or visit their website.

4th Easiest: Current

Monito Score

• Trust & Credibility

  8.1

• Service & Quality

  7.9

• Fees & Exchange Rates

  7.0

• Customer Satisfaction

  7.2

Visit Current ❯

Current’s checking account doesn’t have as much functionality as some other banks in this ranking, so if you’re looking to make use of its premium features, it might be worth weighing other options before subscribing to the paid plan, especially if their rewards program doesn’t seem to offer much in your area. There’s one area where we think Current as the edge, however: if you’re looking to open a monitored account for your teens, they’re one of the better options.

See our Current review or visit their website to learn more.

5th Easiest: Wise

Monito Score 2023

• Trust & Credibility

  10

• Service & Quality

  8.7

• Fees & Exchange Rates

  9.6

  See Also

  What Is U.S. LLC Foreign Ownership?
• Customer Satisfaction

  9.5

Go to Wise ❯

You might be familiar with Wise if you often need to send or receive money abroad. Formerly known as TransferWise, this UK-based fintech made its name by enabling cheap and fast international money transfers, bypassing traditional SWIFT transfers — which makes it a frequently featured player in Monito’s comparison engine!

Aside from its money transfer product, Wise also offers a multi-currency account, which comes with a debit MasterCard. Its main feature is that it allows you to hold money in more than 50 currencies and gives you account details for 10 of them, including USD, EUR or GBP (though note that you will have to pay a small fee actually to exchange money).

To learn more, read our Wise Account review or visit their website.

6th Easiest: Majority

Monito Score

• Trust & Credibility

  7.9

• Service & Quality

  7.5

• Fees & Exchange Rates

  9.3

• Customer Satisfaction

  9.8

Try Majority ❯

Focused on immigrants and newcomers, Majority is a secure digital banking platform that offers multi-lingual support to its clients via a powerful mobile app with international calling features to help them connect with family back home and low-cost international transfers. It's a great option for those without a social security number.

A great option for residents in the United States and those who get paid in US dollars, Majority is a debit card and checking account for foreigners that we recommend, especially for newcomers and those with family living abroad.

For more information, see our Majority review or visit their website.

FAQ About Easy Online Banking

• 💻 What online account should I use?

  If you're from the US, we recommend Chime as the best online account overall. It gives you low fees across the board and a panel of features, including local US account details to receive payments and a low bar to entry. It also provides excellent foreign exchange services, although frequent ATM withdrawals can become pricey.

• 🖱 What is the easiest bank account to open online?

  In general, we think Chime is the easiest bank account to open online. It gives you a mobile financial app and debit card within normally two days— with a two-minute application process and no credit check!

• ✅ What is the easiest bank account to get approved for?

  There's no clear easiest bank account to get approved for. With any bank account you apply for, in theory, your application could be rejected. However, if you're looking for an account in which verification takes place quickly, we recommend Current, the verification process of which is automatic and normally completed in mere seconds!

• 🛂 Can I open a bank account if I am an illegal alien?

  Although it's difficult, opening a bank account in the US as an undocumented immigrant is possible. Find out how in our dedicated explainer here.

• 💵 What bank is the easiest to open a checking account?

  In general, we think Chime is the easiest bank account to open online. It gives you a mobile financial app and debit card within normally two days— with a two-minute application process and no credit check!

• 💸 Can I open a bank account without money?

  Yes, it's normally possible to open a bank account without money. Many US banks require a minimum deposit of around $25 to $100 to open a checking account, but some (especially online banks) don't require any minimum initial deposit at all. Take a look at our list of the easiest bank accounts to open online to find out more!

• 🏬 Which is the easiest bank to open a business account?

  In general (and especially if your business has international customers or clients), we think Wise Business is the easiest business bank account to open. Opening takes place entirely online and requires basic information about your company (such as registration, location, industry, ownership, etc.) and personal information about yourself as the account holder.

Disclaimers

Chime is a financial technology company, not a bank. Banking services and debit card provided by The Bancorp Bank, N.A. or Stride Bank, N.A.; Members FDIC. Credit Builder card issued by Stride Bank, N.A.

¹ Out-of-network ATM withdrawal fees apply except at MoneyPass ATMs in a 7-Eleven location or any Allpoint or Visa Plus Alliance ATM.

² To apply for Credit Builder, you must have received a single qualifying direct deposit of $200 or more to your Checking Account. The qualifying direct deposit must be from your employer, payroll provider, gig economy payer, or benefits payer by Automated Clearing House (ACH) deposit OR Original Credit Transaction (OCT). Bank ACH transfers, Pay Anyone transfers, verification or trial deposits from financial institutions, peer to peer transfers from services such as PayPal, Cash App, or Venmo, mobile check deposits, cash loads or deposits, one-time direct deposits, such as tax refunds and other similar transactions, and any deposit to which Chime deems to not be a qualifying direct deposit are not qualifying direct deposits.

³ The Annual Percentage Yield (“APY”) for the Chime Savings Account is variable and may change at any time. The disclosed APY is accurate as of November 17, 2022. No minimum balance required. Must have $0.01 in savings to earn interest. The average national savings account interest rate of 0.21% is determined by FDIC as of November 17, 2022 based on a simple average of rates paid (uses annual percentage yield) by all insured depository institutions and branches for which data are available. Visit National Rates and Rate Caps to learn more.

⁴ On-time payment history can have a positive impact on your credit score. Late payment may negatively impact your credit score. Results may vary.

⁵ Chime SpotMe is an optional, no fee service that requires a single deposit of $200 or more in qualifying direct deposits to the Chime Checking Account each month. All qualifying members will be allowed to overdraw their account up to $20 on debit card purchases and cash withdrawals initially, but may be later eligible for a higher limit of up to $200 or more based on member's Chime Account history, direct deposit frequency and amount, spending activity and other risk-based factors. Your limit will be displayed to you within the Chime mobile app. You will receive notice of any changes to your limit. Your limit may change at any time, at Chime's discretion. Although there are no overdraft fees, there may be out-of-network or third party fees associated with ATM transactions. SpotMe won't cover non-debit card transactions, including ACH transfers, Pay Anyone transfers, or Chime Checkbook transactions. See Terms and Conditions.

Why You Can Trust Monito

Why Trust Monito?

You’re probably all too familiar with the often outrageous cost of sending money abroad. After facing this frustration themselves back in 2013, co-founders François, Laurent, and Pascal launched a real-time comparison engine to compare the best money transfer services across the globe. Today, Monito’s award-winning comparisons, reviews, and guides are trusted by around 8 million people each year and our recommendations are backed by millions of pricing data points and dozens of expert tests — all allowing you to make the savviest decisions with confidence.

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