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Best Free Online Checking Account: No Opening Deposit

Open a free online checking account no opening deposit. Get an account and routing number to start banking today.
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You can definitely open a free online checking account – no opening deposit but be prepared to make a deposit within 30 days or the account may be closed.

It’s fairly simple to open a checking account online nowadays. Not having the initial deposit does not have to prevent you from opening a checking account.

While most banks require a minimum opening deposit that can range up to $100, we have found an online-only bank that does not require an opening deposit.

But first, to open a free online checking account with no deposit you'll need a few things:

  • Name
  • Home address
  • Date of birth
  • Citizenship status
  • Social security number
  • Phone number
  • Email address

You should also set aside 10-15 minutes of uninterrupted time because most bank sites will automatically log you off after a few minutes of inactivity.

Chime® Offers Free Online Accounts – No Opening Deposit


As one of the fastest-growing neobank companies, Chime® has over 13 million account holders, offering a variety of products from free checking to savings accounts with high-interest rates, plus a secured credit card.

Chime® was founded in 2013 with headquarters in San Francisco, CA, as a challenger bank for individuals. Chime® is a financial technology company, not a bank. Banking services provided by, and debit card issued by, The Bancorp Bank or Stride Bank, N.A.; Members FDIC.

Customers who don’t mind online-only banking should take advantage of Chime®’s mobile app that provides banking services virtually without a physical location or any bank fees, such as overdrafts or monthly maintenance costs.

About the Chime® Checking Account

Chime® offers a checking account called the “Chime® Checking Account” that includes online bill pay, mobile check deposit, and early direct deposit.²

The Chime® Checking account is a free online checking account with no opening deposit that has no overdraft fees and offers fee-free ATMs when using an in-network ATM. Chime®’s ATM Finder helps customers find nearby fee-free 60,000+ ATM locations across the U.S.

Checking Account customers will not earn any interest unless a savings account is opened. It's worth opening a savings account with Chime® because it will earn 1.50% APY compared to the national savings rate of 0.30% APY.

Checking Account Features:

  • $0 minimum opening deposit
  • No hidden fees¹.
  • Get paid up to 2 days early with direct deposit.²
  • Automated savings tools to help improve your habits.
  • No foreign transaction fee for debit card purchases.
  • Send money instantly to friends using Pay Friends on our mobile banking app.
  • Write checks to pay bills via Chime®’s Checkbook feature.
  • All Chime® accounts are FDIC insured up to the standard maximum $250,000 per depositor.
Learn More

Chime® SpotMe® Overdraft Feature

Chime® offers an overdraft feature that allows you to overdraft your account from $20 to $200 without paying an overdraft fee. Chime® will use your next deposit to cover the negative balance. Customers must qualify in order to enroll in SpotMe®.

A total monthly direct deposit of $200 or more qualifies you for enrollment in SpotMe® along with the following:

  • Account history
  • Direct deposits
  • Spending pattern
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About the Chime® Savings Account

Because Chime® operates primarily online, they can pass the savings onto customers in the form of free checking and a higher than national average savings rate.

The Chime® savings account is a top contender in the industry with a 1.50% APY. Interest on the account compounds daily and is credited monthly.

Two optional features help to grow your savings automatically:

  • Use your debit card to save small amounts when you make purchases. Chime® will round the transaction up to the nearest dollar and transfer the difference to your savings account.
  • Automatically divert 10% of direct deposits of $500 or more into your savings account.

The fee-free savings account requires no minimum opening deposit or minimum ongoing balance.

Learn More

Chime® Secured Credit Card

Chime® has a secured credit card with no credit check or fees for customers that need to build or rebuild credit.

Increase your credit score by an average of 30 points² with the Chime® Secured Credit Card.

 No annual fee or interest

 No credit check to apply

 No minimum security deposit required³

Chime® will help you maintain on-time payments. Customers can simply turn on the Safer Credit Building feature and your balance will be automatically paid on time, every month. Chime® reports to the 3 major credit bureaus, Experian, Equifax and Transunion.

How to qualify for the Chime® Secured Credit Card. You must have a Chime® Checking Account with an eligible direct deposit of $200 or more within the past 365 days to be considered for the Chime® Secured Credit Card.

Chime® Secured Credit Card Limit. The money you move into Credit Builder’s secured account is the amount you can spend on the card. Since Credit Builder doesn’t have a pre-set limit, spending up to the amount you added won’t contribute to a high-utilization record on your credit history.

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Pros of Chime®

In exchange for not having nationwide branch locations, customers can look forward to earning higher interest rates on the Chime® high-yield savings accounts. The Chime® Savings Account's 1.50% APY is among the highest in the industry.

Chime®'s automatic savings feature can get you building your emergency funds right away. Plus, with no fees or balance requirements, every penny saved goes directly to you.

Cons of Chime®

Chime® requires you to open a Checking Account in order to open the Chime® Savings Account. For people just looking to open the high-interest savings account, that requirement might be a deterrent.

Final thoughts

Chime® customers will enjoy digital banking products along with the convenience of online banking. Chime® is focused on having up to date technology and has over 135,000+ five-star reviews in app stores.

Chime®'s app is available for iPhone® and Android devices and has been featured as one of the top-rated Money Management apps in the App Store.

The Chime® mobile app is intuitive and handles everything from tracking your spending and savings to paying friends. Chime®’s mobile app was designed for banking from a smartphone. It allows you to:

  • Check your account
  • Pay bills
  • Transfer funds between accounts
  • Freeze your account after losing your card
  • Receive transaction notifications
  • Send money to friends and family who also have Chime® accounts

In 2021, Chime® customers can look forward to accessing their cash surcharge-free when using their Chime® debit card at Allpoint ATMs at select retail locations nationwide.

Chime® recently partnered with Walgreens to offer free cash deposits at 8,500+ locations.

Learn More

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