T-Mobile partnered with Customers Bank to launch T-Mobile MONEY back in 2018. The account is FDIC-insured through Customers Bank up to the applicable limits.

If you’re not a T-Mobile customer, don’t worry, you don’t need to be to open the account, however, you won’t be eligible for the best APY (annual percentage yield) on your balance unless you have a wireless plan with them.

The account earns either 4.00% or 2.50% APY on balances up to $3,000 depending on whether or not you can meet their criteria.

To meet the criteria you must:

1. Have a qualifying T-Mobile wireless plan.
2. Register for perks
3. Make at least 10 qualifying transactions with your T-mobile MONEY debit card per month. Instant payments to friends and family count towards this number as well.

If you do meet the criteria, you’ll earn 4.00% APY up to $3,000 followed by 2.50% APY on cash balances above that mark and if you don’t meet the criteria, you’ll earn 2.50% APY on your entire balance.

When the account launched in 2018 it provided these same yields – which were highly competitive at the time – but have failed to increase with the Fed’s series of rate hikes beginning in 2022.

To learn more about T-Mobile MONEY continue reading our review below.

T-Mobile MONEY Interest Rate + Account Details

T-Mobile MONEY requires a minimum opening deposit and an average daily balance of at least $1.00 in order to earn interest. There are no minimum balance requirements to avoid fees or account closure.

APY

Criteria Met	Balance	APY
Yes	$3,000 or less	4.00%
Yes	more than $3,000	2.50%
No	$3,000 or less	2.50%
No	more than $3,000	2.50%

To put these yields into perspective, take a look at the current national averages for similar accounts (source: FDIC):

• Interest checking – 0.07%
• Money market account – 0.62%
• Savings account – 0.43%

That said, top yields from FDIC-insured online banks are hovering around 5.00% APY for online savings accounts and 2.0% APY for interest bearing checking accounts. Most of the checking accounts come with monthly requirements to earn a high yield. These include things like setting up a direct deposit for each month and opting to receive e-statements.

How does T-Mobile MONEY Compare?

To get a better idea of how T-Mobile MONEY’s APY (annual percentage yield) stacks up against the competition, we’ve compared it to other variable rate deposit accounts in the table below. All of the accounts below come with a debit card.

Account	Balance	APY
Gesa Credit Union SmartPlus Checking	up to $5,000	7.00%
FNBO Direct Checking	All balances	0.15%
SoFi Checking	All balances	0.50%
T-Mobile MONEY	up to $3,000	4.00%

Pros and Cons

Take a look at the Pros and Cons of the T-Mobile MONEY account below.

Pros:

✅ Early access to paycheck (up to 2 days early) once you set up direct deposit.

✅ Free debit card (Mastercard) with free access to 55,000 ATMs.

✅ Save $5 per eligible phone line per month when you pay with your T-Mobile MONEY debit card and set up AutoPay.

✅ Get cash back dining out, travel and more when you use your T-Mobile MONEY debit card through participating businesses. Learn more here.

✅ No overdraft fees, plus they’ll spot you $50 if you overdraft when criteria is met.

✅ Mobile check deposit via their IOS or Android app.

✅ High interest rate on first $3,000 when criteria is met.

✅ Low minimum to open and no monthly balance requirements.

✅ FDIC insurance up to $250,000.

Cons:

🛑 No physical branches.

🛑 Very difficult to deposit cash and you’ll likely be charged 3rd party fees to do so. See FAQ section below for more details.

Compounding and Crediting Interest

Interest is compounded monthly and credited back to your account monthly.

Transferring MONEY

There are a few different ways to move MONEY in and out of this account.

First, you may fund the account via:

• Direct deposit
• Mobile check deposit
• ACH bank transfer
• Cash deposit (at more than 65,000 participating merchants including select Walgreens, Walmart, 7-Elevens and CVS locations)

You may make a transfer as a one-time transaction or set up recurring transfers from a linked bank account to fund this account.

For recurring payments going out of your account you can set up the bill pay feature. There is no charge for using this service. Transactions up to $10,000/each are permitted when using bill pay and there is a daily limit of $20,000.

You can also send money to friends and family directly from your MONEY account.

Here’s how:

1. Go to Move money.
2. Select Pay friends > Send money. 
3. Select a friend to receive the payment (the recipient must accept your friend request to appear on this list).
4. Review and confirm the recipient and payment amount before completing the transfer. Payments can’t be canceled or returned once sent.

📌 Please note: T-Mobile MONEY does not support requesting payments from friends at this time.

There is a $500 daily limit when sending money to friends or family and a $5,000 monthly limit (30 day rolling period).

📌 Please note: Incoming and outgoing wire transfers are not permitted for any account holders.

T-Mobile MONEY Debit Card

This account comes with a free Mastercard debit card that does not charge foreign transaction fees or card replacement/activation fees.

You’ll have free access to 55,000 ATMs worldwide and T-Mobile does not impose a fee for using 3rd party ATMs (although the 3rd party likely will).

You can withdraw up to $500 per day from ATMs using this card and make up to $2,500 in combined PIN, point-of-sale, or signature-based transactions per day. PIN transactions may not exceed $500 each.

Early Direct Deposit

This account offers early direct deposit to all account holders. To use this feature, just link your direct deposit to this account and it will automatically become eligible for early transfer. And during tax season, you can get your refund up to three days early when you choose to receive it via direct deposit and use your T-Mobile MONEY account.

Overdraft Protection

Overdraft protection up to $50 is also available, but it is offered exclusively to T-Mobile phone customers. There is no fee for using overdraft protection. To enroll, you need to make at least 10 qualifying purchases using your debit card in the first month, and then you will receive this benefit for as long as your account is open.

T-Mobile Money FAQs

Still have questions about the T-Mobile Money account? Take a look at what other consumers are asking around the web along with our responses below.

Is T-Mobile Money a Real Bank?

No. T-Mobile Money is not a bank themselves, but has partnered with Customers Bank to create T-Mobile Money. Funds held in a T-Mobile Money account are federally insured by the FDIC through Customers Bank (FDIC# 34444) up to $250,000 per depositor or $500,000 on joint accounts.

Does T-Mobile Money Offer Joint Accounts?

Yes. T-Mobile Money offers joint accounts, but only one checking, one savings account and one shared savings account can be opened per customer.

Does T-Mobile Money Offer Business Accounts?

No. T-Mobile Money is for individual consumers and their family members only per the time of this writing.

Who is Customers Bank?

Customers Bank, based out of Phoenixville, PA, was founded in 2009 and has over $22 billion in assets. They offer banking and loan services in Florida, Illinois, Massachusetts, New Hampshire, New Jersey, New York, North Carolina, Pennsylvania, Rhode Island and Texas.

If you have account(s) with Woodforest National Bank then you’ll probably want to know their routing number and which one applies to your state.

You’ll need to know Woodforest’s routing number if you plan on making electronic transfers from this account, receive wires or set up automatic direct deposits.

Some banks and credit unions just use one routing number to facilitate money transfers while others, like Woodforest, have many routing numbers tied to various states or regions.

To see which Woodforest routing number applies to you, take a look at the table below.

Woodforest Routing Numbers by State

The table below shows all of Woodforest’s routing numbers by state and county.

State	County	ABA Routing Number
Alabama	All	314972853
Florida	All	314972853
Georgia	All	314972853
Illinois	Adams, Alexander, Bond, Brown, Calhoun, Clay, Clinton, Crawford, Edwards, Effingham, Fayette, Franklin, Gallatin, Greene, Hamilton, Hardin, Jackson, Jasper, Jefferson, Jersey, Johnson, Lawrence, Macoupin, Madison, Marion, Massac, Monroe, Montgomery, Morgan, Perry, Pike, Pope, Pulaski, Randolph, Richland, Saline, Scott, St. Clair, Union, Wabash, Washington, Wayne, White, Williamson	081226829
Illinois	All remaining counties	071926809
Indiana	Clark, Crawford, Daviess, Dubois, Floyd, Gibson, Greene, Harrison, Jackson, Jefferson, Knox, Lawrence, Martin, Orange, Perry, Pike, Posey, Scott, Spencer, Sullivan, Switzerland, Vanderburgh, Warrick, Washington	081226829
Indiana	All remaining counties	071926809
Kentucky	All	314972853
Louisiana	All	314972853
Maryland	All	053112592
Mississippi	All	314972853
New York	All	314972853
North Carolina	All	053112592
Ohio	All	044115809
Pennsylvania	Allegheny, Armstrong, Beaver, Butler, Clarion, Crawford, Erie, Fayette, Forest, Greene, Indiana, Jefferson, Lawrence, Mercer, Somerset, Venango, Warren, Washington, Westmoreland	044115809
Pennsylvania	All remaining counties	031319058
South Carolina	All	314972853
Texas	Refugio County	113008465
Texas	All remaining counties	314972853
Virginia	All	053112592
West Virginia	Brooke, Hancock, Marshall, Ohio, Tyler, Wetzel	044115809
West Virginia	All remaining counties	053112592

Can I Find My Woodforest Routing Number Anywhere Else?

Besides referring to the table above you can also find your Woodforest routing number on any personal or business check. Look for a series of numbers on the lower left corner of any Woodforest check. The first 9 digits in this series are going to be your routing number.

Woodforest Routing Number Components

In 1910 the banking industry agreed on implementing routing numbers as a way to identify individual financial institutions and move funds around in a more efficient manner.

All routing numbers are made up of 9 digits whereas individual bank account numbers can be up to 17 digits long.

The 9 digit routing number is made up of 3 parts:

1. The first 4 digits are the Federal Reserve routing symbol which involves the district of the paying bank, the facility that processes the check and the availability of funds status as assigned by the Fed. (Yes, all of that can be determined in 4 digits!)
2. The next 4 digits identify the ABA institution.
3. The last single digit is referred to as the “check digit” which verifies the routing number.

How Can I Find My Woodforest Account Number?

You can locate your Woodforest bank account number in 3 ways:

1. Login to online banking with your username and password. Once you’re in you can check any account number by clicking on either “checking” or “savings.” Your account number should be listed along with the balance and any available bank statements.
2. Login via the mobile app and click on “checking” or “savings.” You’ll then see your account balance and bank statements. If you go into any statement your account number should be listed under your name and address. (Download the IOS or Android app)
3. Take a look at any Woodforest check or deposit slip at the bottom right hand corner. That series of numbers is the account number associated with that check or deposit slip.

Have you ever gone to apply for a new bank account to get a bonus offer only to find out that the only way to get the bonus was through direct deposit? This can be frustrating if you’re someone who doesn’t get a direct deposit–maybe you’re self-employed or work as a freelancer–or you don’t particularly want to change where your direct deposit is going.

If you’re looking for a bank promotion without direct deposit requirements, here are our top [#] picks for checking and savings accounts that pay you to become a new customer. Get these bonuses through qualifying activities such as making transactions, depositing money yourself, or meeting balance requirements.

CitiBank – $200 – $2,000

This is far and away the best checking offer available right now and there is still plenty of time to get it. Read to find out if you’re eligible.

While this bonus doesn’t require you to set up direct deposit, it does require a high minimum opening deposit of at least $10,000 to qualify for the lowest bonus. The amount you deposit determines which bonus you qualify for. See the table below:

Min. Deposit	Cash Bonus
$10,000	$200
$35,000	$500
$75,000	$1,000
$200,000	$1,500
$300,000	$2,000

Here are the steps to qualify:

1. Use this link when signing up for an account online in order to access the offer. 
2. Deposit new money (can’t be moved from another Citi checking or savings account) into your account within 20 days of opening. The balance of your account on its 20th day is used to determine your bonus eligibility.
3. Maintain this balance for 60 more days.

If you meet these requirements, your bonus will be deposited automatically into your account within 90 calendar days. 

Only new customers over the age of 18 are eligible. Existing customers do not qualify. If you have owned a Citibank account in the last 180 days, even if you’ve closed it, you are not eligible for a bonus.

This offer is valid through January 9th, 2024. If you’re really set on one of these accounts, this gives you a few months to save up the money you need to be eligible for a bonus. As long as you open your new account before the deadline, you can still get the bonus.

The four checking accounts that qualify for this offer are: 

• Basic Banking Checking account – no minimum opening deposit requirement, $12 monthly maintenance fee that is waived when you maintain an average balance of at least $1,500
• Citibank Checking account – no minimum opening deposit requirement, $25 monthly maintenance fee that is waived when you maintain an average balance of at least $10,000
• Citi Priority Checking account – no minimum opening deposit requirement, $30 monthly maintenance fee that is waived when you maintain an average balance of at least $50,000
• Citigold Checking account – no minimum opening deposit, no monthly maintenance fee (but you must maintain a collective balance of at least $200,000 in order to stay eligible for Citigold membership and keep your account)

Although Citi’s checking accounts and sign-up bonuses don’t have deposit requirements, they do have pretty high monthly fees that are tough to waive unless you keep a high balance.

Huntington Bank – $400 or $600

Now through October 7, 2023, Huntington Bank is offering either $400 or $600 to new checking account customers who meet deposit requirements and reside in a qualifying state. No direct deposit transactions are required to qualify, you can deposit new money however you choose.

There are two different checking accounts that are eligible for the bonus, and the qualifying deposit is different for each:

• Perks Checking account – must make a qualifying direct deposit of at least $1,000 within 90 days of opening the account to earn a $400 cash bonus.
• Platinum Perks Checking account – must deposit at least $25,000 within 90 days of opening the account to earn a $600 cash bonus.

After meeting these requirements, your bonus of $400 or $600 will be deposited into your account automatically within 14 days. 

Use this link when signing up for your new account to unlock the bonus offer. You just have to open, not fund, the account by October 7, 2023.

It’s important to note that this offer is only available in select states whether you apply online or in person at a Huntington branch. These are Colorado, Illinois, Indiana, Kentucky, Michigan, Minnesota, Ohio, Pennsylvania, South Dakota, West Virginia, and Wisconsin.

Both the Perks and Platinum Perks checking accounts are interest-bearing and come with credit score monitoring. The Platinum Perks account also comes with identity theft monitoring and unlimited non-Huntington Bank ATM withdrawals. With the Perks checking, only 5 non-Huntington Bank ATM withdrawals are permitted per statement cycle.

Customers who already have a checking account with Huntington, including those who have closed an account in the past six months, do not qualify.

Chase Business Complete Banking Checking Account- $300 (Business)

Looking to open a new business checking account? New Chase customers can earn a bonus of $300 when they open a Business Complete Banking account and meet activity requirements. This is the Chase Business Complete Banking checking account.

To qualify, the first thing you need to do is deposit at least $2,000 in new-to-Chase money into your account. You must do this within 30 days of coupon enrollment or signing up for your account through this offer to qualify. You also need to maintain a balance of $2,000 in this account for a total of 60 days after opening.

Next, you need to make at least 5 qualifying transactions within 90 days of opening your account. A qualifying transaction can be a debit card purchase, ACH credit, Chase QuickDeposit, Chase QuickAccept deposit, or Chase Online Bill Pay transaction. You can begin making these transactions as soon as your account is open.

There is a $15 monthly maintenance fee for this account that can be waived in one of five ways:

• Maintaining an average monthly balance of $2,000 in this account
• Making at least $2,000 total in transactions using a linked Chase Ink Business credit card
• Receiving $2,000 total in QuickAccept transactions or other merchant services solutions each statement period
• Providing valid ID to prove that you are a U.S. military member, active-duty or retired
• Linking this account with a Chase Private Client Checking account (to qualify, you need either a combined balance of $150,000 or more across all of your Chase deposit and investing accounts or a Chase Platinum Business Checking account)

Chase Secure Banking Checking Account – $100

It’s not $300, but Chase is also offering a $100 bonus to new personal checking account customers. The only account that qualifies for this offer is the Chase Secure Banking checking account.

To get the bonus, you need to open a new account using this link and complete 10 qualifying transactions within 60 days. These can be purchases made with your debit card, online bill payment, QuickDeposits, ACH credits, or Zelle transfers. There are no other deposit or balance requirements you need to meet. Overall, this is probably one of the easiest offers to qualify for even if it’s not the best bonus.

After meeting the requirement for the bonus, you will have $100 deposited into your account automatically within 15 days of qualifying.

There is no minimum opening deposit required when opening this account. The monthly maintenance fee of $4.95 for this account cannot be waived regardless of your balance or activity.

This is a pretty basic checking account that is mostly free to use. There are no fees for money orders or checks, for using Chase Online Bill Pay, for making ATM withdrawals or deposits at in-network ATMs, or for sending money through Zelle. It does not earn interest.

You can’t qualify for this bonus if you already have a Chase checking account, have closed a checking account in the past 90 days, or have closed a checking account that had a negative balance in the past three years. Also, if you do qualify for and get the bonus offer but then you close your account in less than six months after opening it, Chase will deduct the bonus amount at the time of closure.

This offer will expire on October 18th, 2023, so make sure to open your account by then if it feels like a good fit.

Chase College Checking Account – $100

Yet another bonus offer from Chase but for college students this time, new customers qualify to earn $100 when opening a Chase Collecting Checking account.  

This promotion is really similar to the above offer for business checking customers. All you have to do is use this link to apply for an account and make 10 qualifying transactions within 60 days of opening your new account. These can be debit card purchases made with your debit card, online bill payment, QuickDeposits, ACH credits, or transfers through Zelle. 

After meeting this requirement, the $100 bonus will be deposited into your account automatically within 15 days of qualifying. You do not need to maintain a minimum balance to qualify. 

There is a $6 monthly service fee that is automatically waived for college students between the ages of 17 and 24 (up to five years) when you provide proof of your enrollment at a college or university and give your expected graduation date.

This offer is valid through October 18, 2023.

Huntington Bank Business Checking – $100, $400 or $1,000

Huntington Bank is offering a generous cash bonus to new customers who open any one of their 3 business checking accounts. The bonus is dependent on making certain minimum deposits to the account. See below for details.

1. Business Checking 100 – Earn a $100 bonus when you deposit $2,000 or more.
2. Unlimited Business Checking – Earn a $400 bonus when you deposit $5,000 or more.
3. Unlimited Plus Business Checking – Earn a $1,000 bonus when you deposit $20,000 or more.

Use this link to enroll in either offer and open your new account. You can apply online or at a Huntington branch. If you have a business or personal checking account with Huntington already or have closed an account with the bank in the past six months, you will not be eligible. 

This offer expires on September 7th, 2023. Open your account by this deadline to qualify.

Unlimited Business Checking Account – $400

To qualify for the Unlimited Business Checking account bonus, you need to deposit at least $5,000 into your account within 60 days of opening and maintain this balance for a total of 90 calendar days. After meeting this requirement, your bonus of $400 will be deposited into your account automatically within 14 days of qualifying.

There is a $20 monthly maintenance fee for this account that is waived when you maintain a minimum balance of at least $10,000 across your relationship accounts. This account allows you to make up to $10,000 in cash or check deposits per month at no added cost ($0.30 for every $100 after that) and includes one Bonus Service of your choosing. 

Available Bonus Services include:

• Fraud Tool for early detection of fraudulent activity
• Huntington Deposit Scan – for up to 50 free mobile deposits per month
• Payroll – for up to 10% off payroll services by Paychex
• Wires – up to two free incoming domestic wire transfers per month
• Returned Deposited Items – up to 25 free per month

Unlimited Plus Business Checking – $1,000

To qualify for the Unlimited Plus Business Checking account bonus, you need to deposit at least $20,000 into your account within 60 days of opening and maintain this balance for a total of 90 calendar days. After meeting this requirement, your bonus of $750 will be deposited into your account automatically within 14 days of qualifying.

There is a $40 monthly maintenance fee for this account that is waived when you maintain a minimum balance of at least $50,000 across your relationship accounts. This account allows you to make up to $25,000 in cash or check deposits per month at no added cost and includes your choice of two Bonus Services.

PNC Bank Business Checking Account – $200 or $500

Open a new PNC Bank business checking account by September 30, 2023 to qualify for either $200 or $500.

To qualify for $200, you need to open a new Business Checking or Business Checking Plus account by the deadline and maintain an average minimum balance of at least $5,000 for the first three months. Also within the first three months of opening, you need to make at least 20 qualifying transactions with your PNC Bank Visa Debit Card. You will get the bonus automatically within 90 days of qualifying. The fees are:

• $10 monthly maintenance fee for the Business Checking account that is waived when you maintain an average collected balance of $500
• $20 monthly maintenance fee for the Business Checking Plus account that is waived when you maintain an average collected balance of $5,000

To qualify for $500, you need to open a new Treasury Enterprise Plan or Analysis Business Checking account and maintain an average ledger balance of at least $30,000 for the first three months. There are no transaction requirements. You will get the bonus automatically within 90 days of qualifying. The fees are:

• $50 monthly maintenance fee for the Treasury Enterprise Plan that is waived when you maintain an average collected balance of $30,000
• $25 monthly maintenance fee for the Analysis Business Checking account

Use this link when applying to enroll in the coupon and be eligible for the bonus.

Alliant Credit Union Savings Account – $100

Not really looking for a new checking account? Open a savings account online with Alliant Credit Union Ultimate Opportunity Savings Account.

This bonus takes commitment to unlock and, unfortunately, isn’t as simple as making a deposit or transactions. To qualify, you need to use this link to open a new account. Then, deposit at least $100 into the account each month for 12 months in a row. If you have done this, you’ll get the $100 bonus automatically after the 12 months are up. It doesn’t matter what your balance is as long as you’ve made $100 deposits.

You need to maintain a minimum balance of at least $5 to keep your account open and a balance of $100 to continue earning interest.

Right now, the interest rate for this account is 2.50%. Considering the national average APY for a savings account sits at 0.24%, that’s definitely not bad. And actually, this account has had one of the best rates available across the board compared to other banks and credit unions for quite a while.

To open this account, you need to become an Alliant member. Anyone who lives in the U.S. can become a member even if they don’t live or work in a qualifying community by joining the Foster Care to Success organization. Alliant will pay the $5 membership fee on your behalf when you sign up.

There is no expiration date for this ongoing offer.

Discover Online Savings Account – $150 or $200

If you’re thinking about opening a new savings account with Discover Bank, now’s a good time to do it. Now through September 14th, 2023, new customers who open an Online Savings account and meet deposit requirements can qualify for a bonus of $150 or $200. 

Whether you earn $150 or $200 depends on how much you deposit. To get $150, you need to deposit at least $15,000 into your account within the first 30 days of opening. To get $200, you need to deposit at least $25,000 within 30 days of opening. Your bonus will be deposited into your account automatically within 30 days of qualifying. Use this link to open your new account.

The Discover Online Savings account is variable and currently yields an above-average APY (annual percentage yield) of 4.30%. There is no monthly maintenance fee, low balance fee, or minimum opening deposit for this account.

You can’t qualify for the bonus if you currently or have had a Discover online savings account in the past.

Final Thoughts

Many great bank account bonus offers make you link your direct deposit in order to qualify, but you’re not out of luck if you don’t want to go this route. Use this article to find the right new personal or business checking or even savings account for you and qualify for a bonus by making deposits, transactions, and other activities.

You’ll notice that a lot of these offers have pretty high deposit or balance requirements to qualify. If you do decide to open one of these accounts as a new customer, make sure you grab the correct link when opening so that you can unlock the bonus you’re going for and it won’t be a waste.

Checking accounts are a fundamental component of our financial lives. They allow us to pay our bills on-time and safely hold the money we earn. Despite their necessity however, checking accounts offered by various banks and credit unions are not always easy for consumers to open, sometimes requiring an unnecessary amount of information and days or weeks of waiting during the approval process.

If you’re looking to open a bank account easily online then you’re in luck as there are plenty of options that can be completed in minutes if you’re prepared with the right personal information.

Below is the criteria we used when compiling this list and what makes them easy to open.

• No In-Person Visits: All of the accounts on this list can be opened online and do not require any in-branch visits (although some might also provide that option).
• Lower or No Minimum Deposit Requirements: Accounts on this list come with no minimum deposit requirements or ongoing balance requirements. This makes them more accessible to a wider range of consumers.
• Faster Approval Times: Online account applications can be processed faster than traditional bank applications, with some accounts being approved in a matter of minutes.
• Simple Application Process: Streamlined application processes with accounts being approved mostly or entirely through automated processes.
• Minimal Documentation: These accounts require minimal documentation, often limited to identification and some personal details.

Below is our rundown of the easiest bank accounts to open securely online.

Ally Bank Checking Account

Ally Bank’s checking account is a popular and user-friendly option for those seeking an online banking solution. With no monthly maintenance fees and no minimum balance requirements, it provides a hassle-free banking experience. The account also comes with a free debit card for easy access to funds, and customers can make use of over 43,000 Allpoint ATMs nationwide without incurring fees plus $10 in ATM fee reimbursements per statement cycle for out of network ATM usage. Additionally, Ally Bank offers 24/7 customer support, making it a reliable choice for managing everyday banking needs.

How to Open the Account:

Go here and click “Open new account.” You’ll want to be prepared with:

1. Personal Information: Your full name, date of birth, Social Security Number (SSN), and a valid government-issued photo ID (e.g., driver’s license, passport).
2. Contact Information: Your current residential address, email address, and phone number.
3. Funding Source: You will need to link the checking account to a funding source, such as an existing bank account or a debit card, to make the initial deposit. You may also deposit cash at an Allpoint ATM or use remote check deposit with the Ally app (IOS or Android).

Time to Apply	3 – 5 minutes
Credit Check (hard/soft pull)	Soft Pull
Min. Deposit	$0.00
Micro Deposits for Verification?	Yes, for some accounts.
Funds Ready for Use	1 – 3 business days

Chime Checking Account

Chime is a financial services company that has partnered with Pride Bank to offer a checking account for those seeking a modern and fee-free online banking experience. With no monthly fees, no minimum balance requirements, and no overdraft fees, it offers a straightforward and transparent banking solution. The account also comes with a free Visa debit card that can be used at over 60,000 fee-free ATMs nationwide through the MoneyPass and Visa networks. Chime’s user-friendly mobile apps allow customers to manage their finances easily, make mobile payments, and set up automatic savings features effortlessly. Additionally, Chime offers early direct deposit, providing customers with access to their paychecks up to two days earlier than traditional banks.

How to Open the Account:

Go here, enter your email and click “Sign Up.” You’ll want to be prepared with:

1. Personal Information: Your full name, date of birth, Social Security Number (SSN), and a valid government-issued photo ID (e.g., driver’s license, passport).
2. Contact Information: Your current residential address, email address, and phone number.
3. Funding Source: You will need to link the checking account to a funding source, such as an existing bank account or a debit card, to make the initial deposit. You may also deposit cash at one of 90,000 participating retail locations, such as Walgreens, CVS, and 7-Eleven, using the Green Dot network or use the app on IOS or Android to initiate a mobile check deposit.

Time to Apply	2 minutes
Credit Check (hard/soft pull)	None
Min. Deposit	$0.00
Micro Deposits for Verification?	None
Funds Ready for Use	1 – 5 business days

Majority Checking Account

Majority is the first ever financial membership built by migrants and for migrants, but anyone is allowed to join. Migrant has partnered with Axiom Bank to provide basic banking services to underserved communities. Its checking account is designed to be accessible and straightforward, catering to individuals who may have faced challenges in traditional banking systems. It offers features like no minimum balance requirements and no overdraft fees but it does come with a monthly membership fee of $5.99 after your free 30 day trial ends. Additionally, the account provides cash back rewards on everyday purchases, enabling users to earn while managing their finances digitally.

How to Open the Account:

Go here, click “Sign Up,” enter your phone number and then click “Continue.” You’ll want to be prepared with:

1. Personal Information: Your full name, date of birth and any valid government-issued photo ID. This ID can be issued by any federal or state government including IDs from places outside the US.
2. Contact Information: Your current residential address, email address, and phone number.
3. Funding Source: You will need to link the Majority account to a funding source, such as an existing bank account or a debit card, to make the initial deposit. You may also use other apps like Zelle, CashApp, etc. or deposit cash at participating retailers and present them with the barcode on your app or debit card for them to scan. Locate participating retailers in the app under Add Money > Cash Deposit > Show Locations.

Time to Apply	2 minutes
Credit Check (hard/soft pull)	None
Min. Deposit	$0.00
Micro Deposits for Verification?	None
Funds Ready for Use	1 – 5 business days

T-Mobile Money

T-Mobile Money has partnered with Customers Bank to offer customers a mobile first banking experience complete with FDIC-insurance and all the best features of online banking. The account comes with no minimum deposit or balance requirements. No monthly fees of any kind, plus no transfer fees, no late payment fees and no overdraft fees. On top of that you can get paid up to 2 days early if you set up direct deposit and your balance earns at least 2.50% APY (annual percentage yield). For eligible accounts that sign up for perks and make 10 qualified transactions each month, an APY of 4.00% is applied on balances up to $3,000 and then 2.50% APY is applied to all amounts greater than $3k.

How to Open the Account:

Start here and identify whether or not you’re an existing T-Mobile customer. During the application process, you’ll want to be prepared with:

1. Personal Information: Your full name, date of birth and any valid government-issued photo ID. This ID can be issued by any federal or state government including IDs from places outside the US.
2. Contact Information: Your current residential address, email address, and phone number.
3. Funding Source: You will need to link T-Mobile Money to a funding source, such as an existing bank account or a debit card, to make the initial deposit. You may also set up direct deposit from an employer, use the remote check deposit feature on the IOS or Android apps and/or deposit cash at one of these 65,000+ locations nationwide.

Time to Apply	3 – 5 minutes
Credit Check (hard/soft pull)	None
Min. Deposit	$0.00
Micro Deposits for Verification?	None
Funds Ready for Use	4 – 5 business days

Varo Money

Varo Money powered by Varo Bank offers FDIC-insured mobile bank accounts to individuals who want to manage their money primarily through an app. It also has the noteworthy features associated with other accounts on this list such as no minimum deposit or balance requirements. No overdraft fees or transfer fees. The ability to get paid up to 2 days early with direct deposit set up and a free Visa debit card that can be used for free at any Allpoint ATM location. You can also make and receive free peer to peer payments with Zelle but you’ll need to have direct deposit set up to be eligible for this feature.

How to Open the Account:

Navigate to the Varo website and click “Get Started.” Once you begin the application process, you’ll want to have the following pieces of information handy:

1. Contact Information: A verifiable email address and phone number.
2. Personal Information: Your full name, date of birth, residential address and any valid government-issued photo ID. This ID can be issued by any federal or state government including IDs from places outside the US.
3. Funding Source: You will need to link Varo Money to a funding source, such as an existing bank account or a debit card, to make the initial deposit. You may also set up direct deposit from an employer, use the remote check deposit feature on the IOS or Android apps and/or deposit cash at any of the 90,000+ Green Dot locations (usually found at Walgreens, CVS, and Target stores) nationwide.

Time to Apply	3 min. + 2 business days for approval
Credit Check (hard/soft pull)	None
Min. Deposit	$0.00
Micro Deposits for Verification?	None
Funds Ready for Use	Up to 7 business days

Capital One 360 Checking

Capital One offers a user friendly checking account within their 360 product suite called 360 Checking. It comes with no minimum deposit or balance requirements, no monthly maintenance fees. The benefit of online banking and award winning apps plus actual retail locations where you can speak to customer service representatives. You also of course have FDIC coverage, a free Capital One contactless Mastercard with chip technology and access to 70,000 free ATMs nationwide. 360 Checking customers will also be eligible to get paid 2 days early once direct deposit is set up plus the ability to send and receive payments using Zelle.

How to Open the Account:

Navigate to the 360 Checking account page here and click “Open Account.” You’ll then be asked whether or not you’re an existing Capital One customer. Following this step you’ll begin the application process. You’ll want to be prepared with:

1. Contact Information: A verifiable email address and phone number.
2. Personal Information: Your full name, date of birth, residential address and any valid government-issued photo ID. This ID can be issued by any federal or state government including IDs from places outside the US.
3. Funding Source: You will

Time to Apply	5 minutes
Credit Check (hard/soft pull)	Soft Pull
Min. Deposit	$0.00
Micro Deposits for Verification?*	Yes, 2 under $1.00
Funds Ready for Use	Within 3 business days

SoFi Online Bank Account

SoFi offers a user-friendly online account that automatically comes with both a checking account and savings account. It has the standard bells and whistles of no minimum deposit or balance requirements. No monthly fees or overdraft fees. Plus the ability to get paid up to 2 days early when you set up direct deposit. The difference with SoFi is that setting up direct deposit also unlocks other great features like earning 4.50% APY on all savings balances, 0.50% APY on all checking balances, plus a cash bonus of either $250 or $50 depending on your direct deposit amount. For direct deposits of $1,000 – $4,999.99 you’ll get a $50 bonus and for direct deposits of $5,000 or more, you’ll get a $250 bonus. Without direct deposit you’ll earn just 1.20% APY on the savings side and 0.50% on checking balances.

With SoFi you’ll also get FDIC insurance coverage up to $2 million via SoFi’s partner banks and a get a free debit card Mastercard that features up to 15% cash back at local businesses (click “shop local” once logged in for list of participants) and free ATM usage at any Allpoint location.

How to Open the Account:

Start here and enter your name, the state you reside in and a verifiable email address. During the application process, you’ll also want to be prepared with:

1. Personal Information: Your full name, date of birth and any valid government-issued photo ID. This ID can be issued by any federal or state government including IDs from places outside the US.
2. Contact Information: Your current residential address, email address, and phone number.
3. Funding Source: To fund your SoFi account for the first time you’ll need to set up an external transfer to the account in the app (IOS or Android) or receive an inbound wire. Once your account is active and funded you can fund it on an ongoing basis via direct deposit, mobile check deposit, external transfer, wire transfer or cash deposit through the Green Dot network.

Time to Apply	3 – 5 minutes
Credit Check (hard/soft pull)	Soft Pull
Min. Deposit	$0.00
Micro Deposits for Verification?	Yes
Funds Ready for Use	2 – 7 business days

FAQs

Still have questions about how to open a bank account easily and quickly online? Take a look at what other consumers are asking around the web as well as our responses below.

Can I Open a Bank Account Online?

Yes. Online banking has become the norm over the last decade or more. FDIC-insured online deposit accounts including: checking accounts, money market accounts, savings accounts, and CDs (certificates of deposit) can all be opened securely online with a number of financial institutions including banks, credit unions, brokerages and fintech companies.

Do Online Bank Accounts Come with Debit Cards?

Yes. The vast majority of online banks that offer checking accounts also offer free Mastercard or Visa debit cards with chip technology. These debit cards are typically free for new checking account customers.

Do Online Bank Accounts Offer Free ATM Usage?

Yes. Online banks generally partner with ATM networks such as the Allpoint network to offer their customers free ATM usage nationwide at participating retailers. ATM locations within these networks are typically found at CVS, Walgreens and Target stores.

Can I Deposit Cash into an Online Bank Account?

Yes. Generally speaking most online checking accounts allow you the option to deposit cash into the account. They may not, however, allow you to initially fund the account with cash. You’ll need to check the fine print of the specific institution.

Once you’ve activated and funded your checking account, many online banks will allow you to add cash to your account via the Green Dot network which features over 90,000 retailers nationwide.

Will an Online Checking Account Check My Credit History?

This varies by institution. Some may not pull your credit at all, but many will do a soft pull which does not affect your credit score. Some may also do a hard pull which does affect your credit score, but none that we’ve listed here.