10 Bank Accounts You Can Easily Open Online Instantly

Most products on this page are from partners who may compensate us. This may influence which products we write about and where and how they appear on the page. However, opinions expressed here are the author's alone, not those of any bank, credit card issuer, airline or hotel chain.

All information about the Discover Cashback Debit Account, Ally Spending Account, Capital One 360 Checking Account and Betterment was collected independently by Slickdeals and has not been reviewed by the issuer.

Key Takeaways:

The easiest bank accounts to open require low minimum deposits and can be opened online in just a few minutes with some personal information, like proof of identification and mailing address.
We picked accounts with no monthly fees (or easy-to-waive fees) and perks like getting paid up to two days early, high APYs, waived ATM fees and strong overdraft protection.
Accounts like SoFi Checking and Savings, Discover Cashback Debit Account, Ally Spending Account, and Betterment Checking are accounts that we consider to be some of the easiest bank accounts to open online.

Opening a bank account used to be a chore. You’d have to scrounge up a bunch of documents, schlep yourself down to a branch, fill out a paper application and wait. Online banks make this process a lot easier and quicker. Many charge fewer fees and offer higher rates, too.

That said, you’ll still need to jump through a few hoops. Federal law requires all banks to verify your identity to make sure you’re a legitimate customer. At a minimum, you’ll need to provide your name, date of birth, address and taxpayer ID number, but some banks require more information.

If you’re looking for a smoother start-up experience, here are the easiest bank accounts to open online.

Easiest Bank Accounts to Open Online

Account	Time To Apply	Monthly Fee	Minimum Opening Deposit	Learn More
SoFi Checking and Savings Open Account Member FDIC Member FDIC	A few minutes	$0	None	Open Account
Chase Total Checking® Account Open Account	A few minutes	$12 with options to waive More Info Chase Total Checking customers can have their monthly maintenance fee waived by receiving direct deposits totaling $500 or more in new money each monthly statement period, maintaining a daily balance of at least $1,500 at the beginning of each day, or maintaining an average beginning day balance of $5,000 or more in any combination of linked qualifying Chase checking, savings and other accounts	None	Open Account
UFB Direct Portfolio Savings Account Open Account	A few minutes	$0	None	Open Account
Axos Essential Checking Account	A few minutes	$0	None	This product is currently not available via Slickdeals. All information about this product was collected by Slickdeals and has not been reviewed by the issuer.
Discover Cashback Debit Account Open Account	5 minutes	$0	None	Open Account
Ally Spending Account Open Account	5 minutes	$0	None	Open Account
Betterment Checking Open Account	A few minutes	$0	None	Open Account
Key Smart Checking® Open Account	5 minutes	$0	$10	Open Account
Capital One 360 Checking Account Open Account	5 minutes	$0	None	Open Account

Methodology

To put together our list of the easiest bank accounts to open online, Slickdeals’ editors reviewed many online banks, brick-and-mortar banks and credit unions. We considered several criteria to determine the best options for our readers, including these factors:

Quick and easy application process: The entire process of opening an account and identity verification can be completed online in less than five minutes.
Lack of fees: The account has few or no recurring fees, or offers ways to waive them.
Low or no opening deposit: The account either doesn’t require a minimum opening balance to get started, or the amount is relatively low.
FDIC insurance: Since these are all deposit accounts, having standard FDIC insurance is a must.
Perks and features: We also considered helpful features that can enhance your banking experience, such as mobile banking tools, the ability to earn interest, customer service and more.

SoFi Checking and Savings

Open Account

Member FDIC

Our Rating 5/5 How our ratings work
APY0.50% - 4.00% More Info
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.
Minimum
Deposit RequiredN/A
Intro Bonus $50-$300Expires January 31, 2026 More Info
New and existing Checking and Savings members who have not previously enrolled in Direct Deposit with SoFi are eligible to earn a cash bonus of either $50 (with at least $1,000 total Direct Deposits received during the Direct Deposit Bonus Period) OR $300 (with at least $5,000 total Direct Deposits received during the Direct Deposit Bonus Period). Cash bonus will be based on the total amount of Direct Deposit. Direct Deposit Promotion begins on 12/7/2023 and will be available through 1/31/2026. Full terms at sofi.com/banking. SoFi Checking and Savings is offered through SoFi Bank, N.A., Member FDIC. SoFi members with Direct Deposit 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 4.00% APY for savings (including Vaults). Members without Direct Deposit will earn 1.20% APY on savings balances (including Vaults) and 0.50% APY on checking balances. Interest rates are variable and subject to change at any time. These rates are current as of 12/3/2024. There is no minimum balance requirement. Additional information can be found at http://www.sofi.com/legal/banking-rate-sheet.

SoFi Checking and Savings boasts an impressive APY of up to 4.00% on savings balances for customers who set up direct deposit, or who deposit at least $5,000 each month. This account also offers 0.50% APY on checking balances. There are no monthly maintenance fees, and new customers can even earn a generous signup bonus worth up to $300. If you don’t care about physical bank locations, this is a great option.

Overview

SoFi Checking and Savings features remarkably strong interest rates for customers who receive recurring monthly direct deposit, or who deposit $5,000+ every 30 days. This account also doesn’t have any maintenance fees, overdraft fees or non-sufficient funds fees. To top it off, new customers can earn a signup bonus worth up to $300.

Pros

Accounts with monthly direct deposit earn interest
No minimum opening balance or minimum monthly balance
No maintenance fees, non-sufficient fund fees or overdraft fees
Access to Allpoint’s worldwide ATM network
Get paid up to two days early

Cons

No physical branch locations

SoFi® began in 2011 as a private student loan lender and has since expanded to offer many different types of products—including online checking and savings accounts. Customers can access its large, nationwide ATM network⁵, but SoFi does not have physical branches. In total, the company claims to work with over 5.2 million people through its various financial products.

Features

Frequent sign-up bonus offers
Savings rates notably higher than national average
Up to 15% cash back on local purchases
Access to the SoFi member benefits program
Get paid up to two days earlier via early direct deposits⁶
Deposits may be FDIC insured up to $2,000,000⁴
No monthly fees, overdraft fees or minimum balance requirements³

How to Open an Account

You can open an account in two different ways:

Online: Click “Open an account” on SoFi’s banking page.
Mobile app: Download the mobile app and follow the prompts to open an account.

Information Needed

Name
Contact information
Employment status & income
Citizenship status
Social Security number
Other info if needed to verify your identification

Chase is the largest bank in the U.S., and with thousands of branches and ATMs, there’s likely one near most customers. But Chase also has a robust online presence, including a highly rated mobile app that lets users send and receive money, use budgeting tools and more. The bank also offers a wide range of other products, from checking and savings accounts to credit cards and loans, so if you're looking to grow into other account types, Chase could be a good fit.

Plus, you can typically open an account online, such as Chase Total Checking®, in a few minutes as long as you have your ID and other contact information handy.

Features

No minimum balance required
Monthly fee can be waived
Huge branch and ATM footprint across U.S.
Online bill pay and other mobile banking tools
Many account types, credit cards and loans also available

How to Open an Account

In most cases, you can open a Chase account online in a few minutes:

Online: Find the account you want and click “Open Account.”
Mobile app: First enroll at chase.com; then you can download the mobile app and sign in to get started.

Information Needed

Name
Contact information
Social Security number or ITIN
Driver's license state ID
Proof of address, like a current utility bill

UFB Direct is a division of Axos Bank, which began life as Bank of Internet back in the year 2000. Headquartered in San Diego, California, UFB is an online-only bank that offers a few banking products, like its high-yield savings account, as well as mortgages. UFB deposit accounts are FDIC insured up to the legal limits through its partnership with Axos Bank.

Features

Very competitive APY on savings account
No monthly fees
No minimum balance requirement
Free debit card with account
Online customer service tools
Also offers mortgages

How to Open an Account

You can typically open a UFB Direct account in just a few minutes:

Online: Navigate to the account you want and click “Open Account.”
Mobile app: Download the mobile app and tap on “Open a New Account.”

Information Needed

Social Security number
Driver’s license or State ID
U.S. cellphone number
U.S. address (not a P.O. Box)
Citizenship or resident alien status
Email address

U.S. Bank (Member FDIC) traces its roots back to the late 1800s and has a large presence across the country, providing around 2,000 branches in just under 30 states and thousands of ATMs to its customers. Along with its robust in-person footprint, the bank provides convenient digital banking tools that make opening an account online easy. U.S. Bank offers a wide range of consumer and business banking products, including checking and savings accounts, plus loans, investment accounts and more.

Features

Mobile check deposits
Automated bill pay
Zelle® payments
Account alerts
Automated budgeting
Personalized financial insights
Financial goal setting
Zero-liability fraud protection

How to Open an Account

Online: Click or tap the apply button and follow the prompts to open an account, typically in five minutes or less.
Mobile app: If you already have an account with U.S. Bank, log into the app, navigate to “explore accounts and offers” and find the account you want to open. Tap the “open an account” button and follow the instructions.

Information Needed

Contact information
Social Security number
Valid, government-issued photo ID

Axos Bank is a California-based bank with a long history. Beginning as Bank of Internet, the bank rebranded to Axos Bank in 2018. The company technically has a few branches in California but is by-and-large an online bank that offers a range of checking and savings products for both personal and business uses, along with mortgages and personal loans.

Features

No monthly maintenance fees
Decent APY on savings account
No overdraft fees on most accounts
24/7 customer service
Offers other banking products, including personal loans and business accounts

How to Open an Account

Online: Find the account you want to open and click on “Get Started”
Mobile app: From a browser window, select the account you want and tap “Open an Account” or download the mobile app and follow the prompts.

Information Needed

Social Security number
Driver’s license or State ID
U.S. cellphone number
U.S. address (not a P.O. Box)
Citizenship or resident alien status
Email address

Discover Cashback Debit Account

Slickdeals/Discover

The bank better known for its credit cards also offers online banking—and it’s surprisingly good. The online bank is becoming more popular, and it’s a particularly good choice if you’re already using a Discover credit card (or if you want to) because you can streamline your finances by keeping everything with the same bank.

Features

24/7 customer service
Frequent sign-up bonuses
Get paid two days earlier via direct deposits
No monthly fees or minimum balance requirements
Savings account rates nearly 10X higher than average
Full-service banking includes credit cards, personal loans and bank accounts
High rankings for mobile app and overall customer satisfaction by J.D. Power
1% cash back on up to $3,000 in purchases per month from checking account

How to Open an Account

Discover offers a few ways to open an account:

Online: Look for “Open an Account” buttons scattered around the site.
Mobile app: If you already have an account, you can open a new account type by logging into the app.
Over the phone: 1-800-347-7000, available anytime.

Information Needed

Name
Address
Social Security number
Proof of identity if Discover needs to verify anything in more detail

Recommended High-Yield Savings Accounts

Bank Account	APY	Features	Learn More
BrioDirect High-Yield Savings Account Open Account	4.85% More Info *Annual Percentage Yield (APY) is variable and is accurate as of 11/15/2024. Rate is subject to certain terms and conditions. You must deposit at least $5,000 to open your account and maintain $25 to earn the disclosed APY. Rate and APY may change at any time. Fees may reduce earnings.	$5,000 min. deposit No monthly fee	Open Account
Axos ONE® Savings and Checking Bundle Open Account	Up to 4.86% More Info Earn up to 4.86% APY on savings, and 0.51% APY on checking when you meet requirements.	No minimum deposit No monthly fee	Open Account
SoFi Checking and Savings Open Account Member FDIC Member FDIC	0.50% - 4.00% More Info 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.	No minimum deposit No monthly fee	Open Account
CIT Bank Platinum Savings Account Open Account	4.55% More Info Earn 4.55% APY on balances over $5,000. Balances of less than $5,000 earn 0.25% APY. Annual Percentage Yield is accurate as of November 13, 2024. Interest rates for the Platinum Savings account are variable and subject to change at any time without notice.	$100 minimum deposit No monthly fee	Open Account

Ally Spending Account

Slickdeals/Ally

Ally launched in the 1920s as a division of General Motors, offering financing for people to buy cars. It still offers auto loans, but Ally has since expanded and rebranded into Ally Bank, one of the most popular online banks available. According to the company, it has over 11 million customers. Ally offers interest checking, online savings and money market accounts.

Features

Customer support via online chat and phone
Savings rates almost 10X higher than average
Get paid two days earlier via direct deposits
$10 monthly refund for third-party ATM fees
No monthly fees, overdraft fees or minimum balance requirements
High rankings for overall customer satisfaction by J.D. Power
Full-service banking includes checking, savings, auto loans, personal loans and investments

How to Open an Account

You can open an account at Ally in just a few minutes in a few different ways:

Online: Look for the “Open New Account” links on the webpage of the account want to open.
Mobile app: You can open a new account through the mobile app if you’re already an existing customer.
Over the phone: Call 1-877-247-2559, available 24/7.

Information Needed

Name
Social Security or tax ID number
Residential address
Legal name
Birth date
Other info if Ally needs more to verify your identity

Betterment Checking

Betterment

Betterment LLC is a financial services company that started back in 2008 as a robo-advisor. The company now offers a wider range of financial products, including its Checking account, which is FDIC insured up to $250,000 per depositor through nbkc bank. This account also offers cash back on transactions with select merchants and you won’t face monthly fees or minimum balance requirements.

Features

Cash back with select merchants
No monthly fee
No minimum balance fee or requirement
FDIC insurance on deposit accounts
Contactless payments

How to Open an Account

Online: Go to the account you want to open and click or tap “Get started.”
Mobile app: If you already have a Betterment account, log in to the app and tap on "Add goal/account” to get started.

Information Needed

Permanent U.S. address
Social Security number or ITIN
Checking account from a U.S. bank

With branch footprints across 15 states and over 1,000 full-service branches, KeyBank is an award-winning bank that offers a wide range of consumer and commercial banking services. You can find checking, savings, CDs, investment and lending products conveniently under one roof at KeyBank.

KeyBank's Key Smart Checking® is a no-monthly-maintenance-fee account that can be opened in five minutes or less and can be done entirely online. You only need $10 to open an account.

Features

No monthly maintenance fees
Free access to 40,000+ KeyBank and Allpoint ATMs nationwide
Overdraft protection
No minimum balance requirements
Early Pay—up to 2 days sooner

How to Open an Account

Opening a Key Smart Checking^® account is easy and takes less than five minutes.

Online: You can apply directly on their website.
In person: Visit your nearest location and meet with a bank representative to open an account.

You'll need to provide your Social Security Number or Taxpayer Identification Number and a valid form of identification, along with basic personal information such as your name and contact information when opening a new account.

Capital One 360 Checking Account

Slickdeals/Capital One

Despite being the ninth-largest bank in the U.S., Capital One operates mostly as an online bank, with just a few scattered in-person locations. Capital One offers a wide range of products, including checking, savings and CDs you can access from just about anywhere. It’s another good choice if you’re looking to consolidate all of your accounts into one online bank with minimum hassle.

Features

Get paid two days earlier via direct deposits
Savings rates nearly 10X higher than average
More than 50 hybrid cafe-bank branch locations around the county
No monthly fees, overdraft fees or minimum balance requirements
High rankings for mobile app and overall customer satisfaction by J.D. Power

How to Open an Account

Capital One claims that it only takes about five minutes to open an account, though the process is slightly more involved than with some of the other online banks on this list. You can open a Capital One bank account in a couple of ways:

Online: Click the “Open Account” button on the page for the account type you’d like to open.
In person: If you live near one of its branch locations, you can open an account right there.

Information Needed

Social Security number
Two forms of ID
Proof of address

Frequently Asked Questions

Opening an account online with banks such as Ally Bank, Discover Bank or Chime generally only takes a few minutes. However, the easiest bank accounts to open online typically follow the same process, so there isn’t any one bank that’s definitively better than the others. Some banks will take additional steps to verify your identity, such as asking for a photo ID, which could lengthen the process a bit.
No, most banks require some proof of identification before you can open an account. This can include a photo ID, Social Security number, or passport.
You can start using an online bank account as soon as your application is approved and the account is open. Most online banks do this automatically unless there’s a delay in verifying your identity. Keep in mind that it usually takes a couple of days for transfers to be made into your account.
You may not be able to open a bank account online if the bank can’t verify your identity. This might happen if you’re not a U.S. citizen with a taxpayer ID or you don’t have proof of your address. In some cases, you could also be denied a bank account if you’ve mismanaged accounts in the past, such as not paying back overdraft fees.

SoFi Disclosures

1. Up to $300 Bonus Tiered Disclosure

New and existing Checking and Savings members who have not previously enrolled in Direct Deposit with SoFi are eligible to earn a cash bonus of either $50 (with at least $1,000 total Direct Deposits received during the Direct Deposit Bonus Period) OR $300 (with at least $5,000 total Direct Deposits received during the Direct Deposit Bonus Period). Cash bonus will be based on the total amount of Direct Deposit. Direct Deposit Promotion begins on 12/7/2023 and will be available through 1/31/2026. Full terms at sofi.com/banking. SoFi Checking and Savings is offered through SoFi Bank, N.A., Member FDIC.

SoFi members with Direct Deposit 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 4.00% APY for savings (including Vaults). Members without Direct Deposit will earn 1.20% APY on savings balances (including Vaults) and 0.50% APY on checking balances. Interest rates are variable and subject to change at any time. These rates are current as of 12/3/2024. There is no minimum balance requirement. Additional information can be found at http://www.sofi.com/legal/banking-rate-sheet.

2. APY disclosures

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.

3. Fee Policy

We do not charge any account, service or maintenance fees for SoFi Checking and Savings. We do charge a transaction fee to process each outgoing wire transfer. SoFi does not charge a fee
for incoming wire transfers, however the sending bank may charge a fee. Our fee policy is subject to change at any time. See the SoFi Checking & Savings Fee Sheet for details at
sofi.com/legal/banking-fees/.

4. Additional FDIC Insurance (must be bolded)

SoFi Bank is a member FDIC and does not provide more than $250,000 of FDIC insurance per legal category of account ownership, as described in the FDIC’s regulations. Any additional FDIC insurance is provided by the SoFi Insured Deposit Program. Deposits may be insured up to $2M through participation in the program. See full terms at SoFi.com/banking/fdic/terms See list of participating banks at SoFi.com/banking/fdic/receivingbanks

5. ATM Access

We’ve partnered with Allpoint to provide you with ATM access at any of the 55,000+ ATMs within the Allpoint network. You will not be charged a fee when using an in-network ATM, however, third-party fees incurred when using out-of-network ATMs are not subject to reimbursement. SoFi’s ATM policies are subject to change at our discretion at any time.

6. Early Access to Direct Deposit Funds

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.

7. Overdraft Coverage

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.

Lindsay VanSomeren

Lindsay VanSomeren lives in the Pacific Northwest where she enjoys budgeting for her favorite activities like gardening, learning languages, and fishing. She's passionate about helping other people understand how to manage their money to live their best lives. Her work has appeared in Credit Karma, Forbes Advisor, FICO, and more.

10 Easiest Bank Accounts You Can Open Online Instantly (2024)

Easiest Bank Accounts to Open Online

Methodology

SoFi Checking and Savings

Overview

Pros

Cons

Features

How to Open an Account

Information Needed

Chase Total Checking® Account

Overview

Pros

Cons

Features

How to Open an Account

Information Needed

UFB Direct Portfolio Savings Account

Overview

Pros

Cons

Features

How to Open an Account

Information Needed

U.S. Bank Smartly® Checking Account (Member FDIC)

Overview

Pros

Cons

Features

How to Open an Account

Information Needed

Axos Essential Checking Account

Overview

Pros

Cons

Features

How to Open an Account

Information Needed

Discover Cashback Debit Account

Features

How to Open an Account

Information Needed

Recommended High-Yield Savings Accounts

Ally Spending Account

Features

How to Open an Account

Information Needed

Betterment Checking

Features

How to Open an Account

Information Needed

Key Smart Checking®

Overview

Pros

Cons

Features

How to Open an Account

Best Online Banks of 2024

Capital One 360 Checking Account

Features

How to Open an Account

Information Needed

5 High-Yield Savings Accounts With Over 5.00% APY

Frequently Asked Questions

Which bank is the easiest to open an account online?

Can you open a bank account online without ID?

Can I open a bank account online and use it immediately?

Why can't I open a bank account online?

Lindsay VanSomeren

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