9 Easiest Bank Accounts to Open Online in 2024: Instant Approval
In today’s digital age, opening a bank account online is faster and simpler than ever. Many banks now allow you to open accounts without a deposit and without requiring a specific balance. Additionally, several options don’t consider your credit or banking history, making the process even more convenient. Below, we highlight the easiest accounts to open online in 2024, all designed to give you flexibility and benefits that suit your personal preferences.
How We Evaluate Banks
When evaluating the best online bank accounts, we consider several factors, such as the application process, monthly fees, minimum opening deposit, and available features. Our list includes both online-only and traditional banks to cater to diverse preferences. While some of the banks we recommend may be FinanceBuzz partners, these relationships do not influence our rankings.
1. Discover® Cashback Debit Account
The Discover® Cashback Debit Account is an excellent choice for those looking to earn rewards while banking. This account offers 1% cash back on up to $3,000 in debit card purchases each month—a rare benefit for a checking account. Additionally, you can receive your direct deposit paycheck up to two days earlier. While Discover has few physical branches, you can still deposit cash at Walmart locations nationwide, making it easy to manage your account.
There’s no initial deposit required to open this account, and your credit score won’t be affected during the application process. However, you must deposit money within 45 days to avoid account closure.
2. U.S. Bank Smartly® Checking
Opening the U.S. Bank Smartly® Checking account online is quick and easy—usually taking just about five minutes. The account includes a feature-rich mobile app for managing your finances, tracking spending, and budgeting without needing a third-party app. While there is a monthly fee, it can be waived with qualifying direct deposits or a minimum balance.
3. Truist One Checking
The Truist One Checking account is perfect for those who need some extra financial flexibility. It has no overdraft fees and provides a $100 Negative Balance Buffer to protect against accidental overdrafts. Eligibility for the buffer requires meeting specific conditions, such as maintaining a positive balance and setting up a direct deposit. The account also offers the opportunity to earn additional benefits like free paper checks and unlimited ATM withdrawals at non-Truist ATMs.
4. Bank of America Advantage Plus Banking®
For those who value in-person banking options along with robust online services, the Bank of America Advantage Plus Banking® account is an excellent choice. It offers access to thousands of branches and ATMs nationwide, as well as a mobile app that allows you to lock your debit card, interact with a virtual assistant, and set up alerts. The monthly fee can be avoided by meeting requirements such as direct deposits or maintaining a minimum balance.
5. Chime
Chime is a fintech company that prides itself on offering fee-free banking. There are no overdraft fees, monthly service charges, or minimum balance requirements. With Chime, you can even deposit cash at over 8,000 Walgreens locations for free. The Chime app supports mobile check deposits, and the company offers an optional high-yield savings account with a competitive APY.
Chime is ideal for people who prefer a more flexible and accessible way of banking, especially if you are new to banking or have poor credit.
6. Chase Total Checking
If you prefer a major bank with both in-person and online banking, Chase Total Checking offers a balanced approach. The account has a $12 monthly fee, but it can be waived if you meet requirements like direct deposits or maintaining a minimum balance. Chase also includes Overdraft Assist, which helps you avoid overdraft fees if you can correct your balance within a day.
7. Current
Current is another online-based option, especially appealing to those looking to build or repair their credit. The account has no credit checks and offers unique features like the removal of gas station holds on your debit card. You can also receive direct deposits up to two days earlier than usual.
Current is a great choice if you’re looking for a second chance to manage your finances or if you’re new to credit.
8. SoFi Checking and Savings
For those who want a checking and savings account combination, SoFi offers a streamlined solution. SoFi’s accounts come with no monthly fees, high APYs, and a mobile app for managing your finances. The account is perfect for people who want to maximize their savings while enjoying the flexibility of checking services.
9. Ally Online Savings Account
If you’re looking to combine savings with your checking account, Ally offers a high-yield savings account that can easily be linked to your checking account for seamless transfers. Ally’s savings accounts come with no minimum balance requirements and competitive interest rates, making them an attractive option for those interested in saving.
Conclusion
Opening a bank account online has never been easier. Whether you need a basic checking account or one with special features like cashback or credit-building options, there’s something for everyone. For those looking for the easiest and most rewarding experience, we recommend the Discover® Cashback Debit Account, which offers an intuitive application process, no minimum deposit, and valuable benefits like cashback and early paycheck deposits.
When choosing a bank, be sure to consider factors like fees, deposit requirements, and any additional features that will help you meet your financial goals. Whether you need online-only access or prefer the option to visit a branch, you can find an account that suits your needs with these easy-to-open options.
