You do not need money to open a checking account
Most banks and credit unions will open a checking account for you with zero dollars. You can walk in with an empty wallet, bring your ID and Social Security number, and leave with an active account. The bank does not require a deposit before you can start using it.
What you do need is a way to prove who you are. That usually means a government-issued ID — a driver's license, passport, or state ID card. Some banks also ask for your Social Security number to check your banking history. A few banks ask for a second form of ID or proof of address, like a utility bill or lease, but this varies by bank and by what state you live in.
The confusion often comes from the fact that some accounts do have a minimum balance requirement — but that is different from an opening deposit. A minimum balance is money you have to keep in the account once it is open. You can meet that requirement by depositing money after you open the account, not before.
Key Takeaways
- You can open a checking account at most banks and credit unions with zero dollars in your pocket.
- You will need a government-issued ID and usually your Social Security number, but not an opening deposit.
- Some accounts have a minimum balance requirement, which means money you must keep in the account after it opens, not money you need to open it.
- If a bank asks for an opening deposit, you can shop around — many banks nearby will not require one.
- Online banks often have no opening deposit and no minimum balance, making them a good option if you are starting with no money.
The difference between an opening deposit and a minimum balance
An opening deposit is money a bank asks you to put in when you first open the account. Most banks do not ask for this. Some do, and when they do, it is usually a small amount — often $25 to $100, though it varies.
A minimum balance is the smallest amount of money you must keep in the account at all times once it is open. If your balance drops below the minimum, the bank may charge you a fee each month. Some accounts have no minimum balance at all. Others require $500 or more. Again, this varies widely by bank.
The important thing: you do not have to meet the minimum balance on day one. You can open the account empty and deposit money later. As long as you keep enough money in the account going forward, you avoid the fee. If you cannot keep a minimum balance, look for an account with no minimum — many banks offer them.
Where to find accounts with no opening deposit and no minimum balance
Online banks almost never ask for an opening deposit or a minimum balance. Banks like Ally, Charles Schwab, and others operate entirely online, which means lower costs for them, which they pass on to you. You can open these accounts from your phone or computer in minutes.
Local credit unions often have no opening deposit and no minimum balance either. Credit unions are member-owned, not for-profit institutions, and they tend to have more flexible rules than big banks. You can find credit unions near you by searching the CO-OP Network or Allpoint locator online, or by calling 211 and asking for credit union referrals in your area.
Traditional banks vary widely. Some large national banks (Chase, Bank of America, Wells Fargo) do ask for opening deposits on certain accounts. Smaller regional banks and community banks often do not. The only way to know is to call or visit the bank's website and ask about their specific checking account options.
What you actually need to bring or provide
To open a checking account, have these things ready:
- A government-issued photo ID (driver's license, passport, or state ID card)
- Your Social Security number
- Proof of address if the bank asks for it (a utility bill, lease, or bank statement with your name and address)
- Your phone number and email address
If you do not have a Social Security number, some banks will open an account using an Individual Taxpayer Identification Number (ITIN) instead. Call ahead to ask — not all banks do this, but many will.
If you do not have a government-issued ID, the process gets harder but not impossible. Some credit unions and community banks will open accounts using other forms of ID, like a passport card, a tribal ID, or even a combination of documents like a birth certificate plus a utility bill. Again, you have to call and ask. Do not assume you are turned away until you have talked to at least three institutions.
What happens if a bank turns you down
Banks sometimes refuse to open an account if you have a negative banking history. This usually means you owe money to another bank, or you wrote bad checks, or you had an account closed for fraud or repeated overdrafts. Banks check this history using a system called ChexSystems.
If you are turned down, ask the bank why. They are required to tell you. If it is because of ChexSystems, you can request your report for free at www.chexsystems.com and dispute any errors on it. If the issue is real — you do owe money or you did overdraft repeatedly — you have options. Some banks offer "second chance" checking accounts designed for people with damaged banking histories. Credit unions are often more forgiving than big banks. And some online banks do not check ChexSystems at all.
Opening an account online versus in person
Online accounts are faster and require nothing but your ID and Social Security number. You can open one in 10 to 15 minutes from your phone. The bank mails you a debit card, which usually arrives in 5 to 10 business days. You can start using the account right away, even before the card arrives, by setting up direct deposit or transferring money from another account.
In-person accounts at a local bank or credit union take longer — usually 30 minutes to an hour — but you leave with a debit card in hand. This matters if you need to use the card when ready. In-person also means you can ask questions face-to-face and get help if something is unclear.
If you have never had a bank account before, in-person is often easier because a banker can walk you through what the account does and answer questions on the spot. If you are comfortable with technology and want speed, online is simpler.
What to do if you have no ID or Social Security number
If you do not have a Social Security number, you may be able to open an account using an ITIN (Individual Taxpayer Identification Number). This is a tax ID issued by the IRS to people who are not may be able to access for a Social Security number. Call credit unions and community banks first — they are more likely to accept an ITIN than large national banks.
If you have no government-issued ID at all, the path is harder but still possible. Some credit unions will open accounts using a combination of documents: a birth certificate, a utility bill, a lease, and a letter from a social service agency or employer. Start by calling local credit unions and asking what documents they accept. Be honest about what you have. Many institutions have workarounds for people in this situation.
If you are undocumented, some banks and credit unions will open accounts without a Social Security number or ITIN, using only a passport or consular ID. This varies by state and by institution. Organizations like the Coalition for a Prosperous America and local immigrant advocacy groups can point you to banks that do this in your area.
Frequently Asked Questions
Can I open a checking account with no money and no ID?
You need an ID, but not money. A government-issued ID is required by federal law. If you do not have one, some credit unions will accept other documents like a birth certificate plus proof of address. Call ahead rather than showing up unprepared.
What if I do not have a Social Security number?
You can use an ITIN (Individual Taxpayer Identification Number) instead. Credit unions are more likely to accept an ITIN than big banks. Some banks accept neither and will turn you down — that is why calling ahead matters.
Do I have to keep a minimum balance from day one?
No. You can open an account with zero dollars and deposit money later. The minimum balance requirement only applies once the account is open. If you cannot meet it, choose an account with no minimum balance requirement.
What is the fastest way to open a checking account with no money?
Online banks are fastest — 10 to 15 minutes from your phone. You need an ID and Social Security number. The debit card arrives by mail in 5 to 10 days, but you can use the account when ready through direct deposit or transfers.
Can I open an account if I have been turned down before?
Yes. If you were turned down because of ChexSystems, you can dispute errors on your report at www.chexsystems.com. Look for "second chance" checking accounts, credit unions, or online banks that do not check ChexSystems.