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How to Cancel a Check and Stop a Payment in 5 Steps5 Easiest Bank Accounts to Open Online
Many banks have made opening an account online a cinch. You can often do everything on your computer or mobile device in minutes, skipping a branch visit or mailing forms.
Still, the ease of opening a bank account online has limits because all financial institutions must verify your identity. You will likely need personal information from a government-issued ID, such as a driver’s license, state ID or passport.
If you want a quick application — and a solid account — check out our picks for the five easiest bank accounts to open online.
What are some of the easiest bank accounts to open online?
Here’s a quick look at some of the easiest bank accounts to open online. All can be opened in minutes without a minimum initial deposit or monthly fees. Some don't use ChexSystems in the application process, which can help you get approved for an account even if you have a poor banking history.
| 5 easiest bank accounts to open online | |||||
| Bank | Account | Time to apply | Use of ChexSystems | Monthly fees | Minimum opening deposit |
 Ally Bank |
Spending Account | 5 minutes or less | ChexSystems pulled | $0 | $0 |
 Capital One |
360 Checking account | About 5 minutes | No ChexSystems | $0 | $0 |
 Chime |
Chime Online Checking Account | Less than 2 minutes | No ChexSystems | $0 | $0 |
 Discover |
Discover Cashback Debit account | A few minutes | ChexSystems pulled | $0 | $0 |
 SoFi Bank, N.A. (Member FDIC) |
SoFi Checking and Savings | A few minutes | ChexSystems pulled | $0 | $0 |
Summary of the 5 easiest bank accounts to open online
These are our picks for the easiest bank accounts to open online. You can establish one of these easily and quickly and use it as your primary checking account, with few fees to eat into your funds. The annual percentage yields (APYs) and account details are accurate as of Dec. 24, 2024.
Ally Bank Spending Account
The Ally Bank Spending Account is a full-featured checking account that can be opened online, on Ally’s mobile app or by phone in five minutes or less.
Ally Bank Spending Account APY:
0.25% ($15,000 or more), 0.10% (less than $15,000)
Ally Bank Spending Account features:
Ally’s Spending Account has certain features in common with a regular account from a brick-and-mortar bank, such as the ability to write checks and use a free debit card. You can use the card without fees at any ATM in the Allpoint or MoneyPass network.
Ally also has features you might expect from an online bank, such as a robust mobile app that allows you to deposit checks, make Zelle person-to-person payments and manage debit card transactions.
PROS
- Order standard paper checks and debit cards without a fee.
- Use any Allpoint or MoneyPass ATM in the U.S. without a charge, and get reimbursed up to $10 per statement cycle for fees from other ATMs nationwide.
- Pay no overdraft fees.
CONS
- You can’t deposit cash.
- The bank has no branches for in-person service.
- You may have to wait up to 10 business days after Ally receives your opening deposit to get your debit card.
If you’re ready to open an account, call Ally Bank at 877-247-2559 or apply on the Ally Bank Spending Account webpage by clicking the purple Open New Account button.
Capital One 360 Checking Account
Capital One has branches in several states but has focused on its digital operation over the last few years. You can open a 360 Checking account in about five minutes online or set up an account at a Capital One branch.
Capital One 360 Checking account APY:
0.10%
Capital One 360 Checking account features:
Capital One 360 Checking blends the best of online and traditional banking. Deposit checks, make transfers and receive real-time spending alerts, among other options, in the bank’s mobile app. You can also write a check, access a large national ATM network and deposit cash for free at any CVS or Walgreens store.
PROS
- Deposit cash into your account for free at any CVS or Walgreens store.
- Access more than 70,000 fee-free Capital One, MoneyPass and Allpoint ATMs.
- Get in-person assistance at Capital One branches and cafes.
CONS
- Only your first batch of checks is free — additional orders are $20 or $25.
- You may be charged $2 or more if you don't use a Capital One, MoneyPass or Allpoint ATM.
- You’ll earn a lackluster interest rate. Choose the 360 Performance Savings account instead if growing your nest egg is your priority.
To open a Capital One 360 Checking account, you can set up an account online or visit a Capital One location in person.
Chime Checking Account
Chime’s checking account can be opened easily and managed online or through a mobile app. Unlike many financial institutions, Chime does not use ChexSystems and other reports to approve your account application. ChexSystems tracks your banking history, and a blemished record may lead to trouble opening an account.
Chime Checking Account APY:
0.00%
Chime Checking Account features:
Chime is a financial technology company and not a bank. Deposits are insured, but the FDIC has warned of risks with this arrangement. You can sign up for Chime online and download the Chime app to manage your account. You’ll have access to more than 50,000 fee-free ATMs and the ability to make cash deposits, though fees may apply.
PROS
- Deposit cash into your Chime Checking Account at Walgreens without fees. Other retailers accept cash deposits but may charge fees.
- Pay no overdraft fees. If you don’t have sufficient funds in your checking account, your transaction will be declined. You can overdraw up to $200 on debit card purchases with no fees when you qualify for SpotMe overdraft.
- Access more than 50,000 fee-free ATMs.
CONS
- Chime does not allow joint accounts or payable-on-death accounts.
- It’s a checkless account. You won’t have paper checks but can use the Chime Checkbook feature to authorize Chime to make payments by check on your behalf.
- If you need help with your checking account, you cannot access in-person service, though customer service is available by phone 24/7.
Log in on the mobile app — available VIA the Apple and Google app stores — or at chime.com if you're ready to get started.
Discover Cashback Debit
Discover Bank offers online and mobile banking for checking, savings, money market and individual retirement accounts (IRAs), as well as certificates of deposit (CDs). The Discover Cashback Debit account allows you to earn 1% back on up to $3,000 in monthly debit card purchases. You’ll also be able to access more than 60,000 fee-free ATMs and 24/7 customer service by phone.
Discover Cashback Debit account APY:
0.0%
Discover Cashback Debit account features:
As the name suggests, the Discover Cashback Debit account offers cash-back rewards on debit card purchases. This type of reward, unusual for a debit card, sets this account apart from others. You’ll get paper checks and no-fee reorders, free access to a large nationwide ATM network, and the capability to add cash to your account without fees at any Walmart in the U.S.
PROS
- Earn 1% cash back on up to $3,000 in qualifying debit card purchases per calendar month.
- Access paper checks and check reorders for free.
- Add cash to your account without fees at Walmart stores.
CONS
- The account receives no interest. Choose a Discover Online Savings account, instead, if earning a competitive interest rate is a priority.
- You may incur a fee for any out-of-network ATM transaction.
- Checking accounts have an incoming transfer limit of $10,000 per 30-day rolling period.
Visit the webpage for the Discover Cashback Debit account and click on Get Started to apply with no effect on your credit score.
SoFi Checking and Savings
SoFi Bank, N.A. (Member FDIC) is an online personal finance company and bank that aims to provide the best of both worlds: customer-focused technology and the safety of an FDIC-insured bank. You can quickly and easily open and manage SoFi’s Checking and Savings online or with the mobile app.
SoFi Checking and Savings APY:
0.50% on checking; 4.00% on savings with qualifying deposits; 1.20% on savings without qualifying deposits*
SoFi Checking and Savings account features:
SoFi Checking and Savings is a combo checking and savings account. You can’t open a standalone checking or savings account. This hybrid account allows you to write checks, use fee-free ATMs nationwide and deposit cash through certain retail merchants.
PROS
- Order paper checks at no cost.
- Use more than 55,000 fee-free ATMs in the Allpoint network.
- Receive your paycheck up to two days early when you sign up for direct deposit, plus get free overdraft coverage with a qualifying direct deposit.**
CONS
- You’ll incur fees when using ATMs outside of the Allpoint network.
- You can deposit cash into your checking account through retailers participating in the Green Dot Reload @ the Register program, but a fee applies.
- Sign up for a direct deposit to earn the best rate on the savings account and qualify for no-fee overdraft coverage.
Use the SoFi mobile banking app — download it from the Apple or Google app stores — or online banking to open a combination checking and savings account.
How to choose an online bank
With so many online banks, how can you choose one? As you compare options, consider these important factors to help you decide.
Make sure your money will be insured.
Bank accounts are backed by the Federal Deposit Insurance Corp. (FDIC). Use the FDIC’s BankFind tool or call 877-275-3342 to verify coverage. The National Credit Union Administration insures credit unions. Confirm coverage with the NCUA’s Credit Union Locator tool. The standard coverage is $250,000 per person, per institution, per account ownership category.
Consider the purpose of the account.
To pay for everyday transactions, a checking account may be the best fit. To build savings, a savings account or money market account may be better.
Evaluate products, rates and fees.
Online banks are known for higher rates and lower fees than brick-and-mortar banks, but some have better deals than others. Compare APYs and fees on the products you need, making sure you can meet any minimum balance requirements.
Check out digital banking tools.
Can you automate bill payments, for example? Can you use the bank’s mobile app to manage your money? And how can you reach customer service when you need help?
Frequently asked questions
Can you open a bank account with bad credit?
Bad credit can make approval for a bank account difficult but not impossible. You’ll need to consider second-chance bank accounts designed for people who can’t qualify for standard checking accounts. Many banks offering these accounts don’t screen applicants with ChexSystems reports, which reveal flawed banking histories.
Can you open a bank account online without an ID?
You will need some form of ID to open a bank account. If you don’t have a valid driver’s license, passport or state-issued ID — considered primary ID sources — then you will have to search for a bank that’s flexible with ID. You may be able to provide two secondary ID sources instead, such as a birth certificate, a school ID, a voter registration card, a Medicare card or a major credit card.
Can you open a bank account online and use it immediately?
As soon as your account opening is complete, you should have access to your account. But before you can start using it, you’ll need to fill out an application and fund the account. You may need to wait a few days for a deposit to process and appear.
Methodology
To compile our list of easiest bank accounts to open online, we considered how quickly and easily you can apply for and fund an account and how quickly you can start using it. We analyzed nearly 115 bank accounts at different banks, credit unions and financial technology companies.
Accounts also needed to have these features:
- Provide a fully remote application
- Require no minimum deposit or balance
- Charge no monthly service fees
- Offer many free ways to make deposits and withdrawals
- Function as a primary checking account
- Come with federal insurance
*SoFi disclosure: SoFi members with Direct Deposit or $5,000 or more in Qualifying Deposits during the 30-Day Evaluation Period can earn 4.00% annual percentage yield (APY) on savings balances (including Vaults) and 0.50% APY on checking balances. There is no minimum Direct Deposit amount required to qualify for the stated interest rate. Members without either Direct Deposit or Qualifying Deposits, during the 30-Day Evaluation Period will earn 1.20% APY on savings balances (including Vaults) and 0.50% APY on checking balances. Only SoFi members with direct deposit are eligible for other SoFi Plus benefits. Interest rates are variable and subject to change at any time. These rates are current as of 12/3/24. There is no minimum balance requirement. Additional information can be found at http://www.sofi.com/legal/banking-rate-sheet.
**SoFi disclosures: Early access to direct deposit funds is based on the timing in which we receive notice of impending payment from the Federal Reserve, which is typically up to two days before the scheduled payment date, but may vary.
Overdraft Coverage is limited to $50 on debit card purchases only and is an account benefit available to customers with direct deposits of $1,000 or more during the current 30-day Evaluation Period as determined by SoFi Bank, N.A. The 30-Day Evaluation Period refers to the “Start Date” and “End Date” set forth on the APY Details page of your account, which comprises a period of 30 calendar days (the “30-Day Evaluation Period”). You can access the APY Details page at any time by logging into your SoFi account on the SoFi mobile app or SoFi website and selecting either (i) Banking > Savings > Current APY or (ii) Banking > Checking > Current APY. Members with a prior history of non-repayment of negative balances are ineligible for Overdraft Coverage.