Opening a bank account in the U.S. can present challenges such as meeting strict documentation requirements, credit and banking history checks, minimum deposit requirements, and much more. So I went hunting for easy Bank accounts to open online in the U.S. Here are the top and popular ones I found;
Summary table of these easy banks to open an account
| Bank Account | Online Application Process | Credit Check |
|---|---|---|
| Chime Bank Checking Account | In 2 Minutes | No |
| Discover Checking Account | Within 5 Minutes | No impact on credit score |
| Ally Bank Saving Account | Straightforward, 5 Minutes | No impact on credit score |
| Capital One 360 Checking Account | Within 5 Minutes (also in branch) | No |
| Varo Money Account | Within 5 Minutes (also in branch) | None |
The criteria I used in my consideration are;
- Online Application Process: An efficient and user-friendly digital procedure to apply for a bank account without the need to visit a physical branch.
- Required Information: Identification proof, address verification, and financial information such as Social Security Number or Tax ID, necessary for account opening.
- Minimum Deposit Requirements: The initial amount of money required to open a bank account, which varies across different banks and account types.
- Credit Check: An evaluation of an individual’s credit history by the bank to assess creditworthiness, which can impact the eligibility for certain account types.
- Fees and Maintenance Requirements: Various charges associated with the account, like monthly maintenance fees, ATM fees, and minimum balance requirements to avoid additional charges.
- Approval Time: The duration it takes for a bank to process and approve an account application, which can range from instant to several business days.
1. Chime Bank Checking Account
- Online Application Process: In 2 Minutes.
- Required Information: Just your Name, Date of Birth, Address, and Social Security Number.
- Minimum Deposit Requirements: $0
- Credit Check: No
- Fees and Maintenance Requirements: $0
- Approval Time: Within Minutes.
See more details about this checking account
2. Discover Checking Account
- Online Application Process: Within 5 Minutes.
- Required Information: Just your Name, Date of Birth, Address, and Social Security Number, Contact Phone and Email.
- Minimum Deposit Requirements: $0
- Credit Check: No impact on credit score for checking account
- Fees and Maintenance Requirements: $0
- Approval Time: Usually within Minutes.
See more details about Discover checking account
3. Ally Bank Saving Account
- Online Application Process: Straightforward online process that takes only 5 Minutes.
- Required Information: Full Name, Social Security Number, Address.
- Minimum Deposit Requirements: $0
- Credit Check: No impact on credit score for this savings account
- Fees and Maintenance Requirements: $0
- Approval Time: Usually within Minutes.
See more details about Ally Bank Savings account
4. Capital One 360 Checking Account
- Online Application Process: Within 5 Minutes. You can also open it at a branch.
- Required Information: Name, address, and Social Security Number.
- Minimum Deposit Requirements: $0. But you have to make a deposit within 60days.
- Credit Check: No
- Fees and Maintenance Requirements: $0
- Approval Time: Same Day.
See more details about Capital One 360 checking account
5. Varo Money Account
- Online Application Process: Within 5 Minutes. You can also open it at a branch.
- Required Information: Basic personal information (Name, address, SSN).
- Minimum Deposit Requirements: $0.
- Credit Check: None what so ever.
- Fees and Maintenance Requirements: $0
- Approval Time: Usually the same day, but it might also take up to 3 business days.
See more details about Varo Money account
Why did I list only 5 Banks that are easy to open an account with?
Of course there are lots of other banks with the same easefulness in opening an account. But, most of them burry hidden fees, deep in their websites, making it difficult to know right off the bat. These other banks might not have a minimum deposit requirements, but they usually have a minimum balance requirement of $1500 to enjoy a no-fee maintenance account.
Bottom Line
The bank accounts on this list are easy to open with no overdraft fees and there is no credit check involved. Besides been easy to open an account, some of these banks also offer additional benefits like 2 days early pay ➔, sign up bonuses of up to $300 ➔, as well as high-yield savings account ➔.
