Banks that open checking accounts entirely online
Most major banks now let you open a checking account online, but the process and requirements differ. Online-only banks like Ally, Charles Schwab, and Discover typically have the fastest process — often 10 to 15 minutes — because they have no physical branches to verify against. Traditional banks with branches, like Chase, Bank of America, and Wells Fargo, also offer online account opening, but some steps may require a visit or a phone call to confirm your identity.
The key difference is how they verify who you are. Online-only banks use digital verification through your Social Security number, driver's license number, and sometimes a video call. Banks with branches may use the same method, or they may mail you a debit card and require you to set up it in a branch, or they may ask you to visit within a certain timeframe to complete the process.
Speed matters if you need the account to work when ready — for direct deposit, bill pay, or transfers. Online-only banks typically let you use your account the same day. Banks with branches sometimes hold transfers or deposits for a day or two while they complete their verification.
Key Takeaways
- Online-only banks like Ally, Charles Schwab, and Discover complete account opening in 10 to 15 minutes with no branch visit required.
- Traditional banks with branches (Chase, Bank of America, Wells Fargo) let you start online but may require a branch visit or phone call to finish verification.
- Online-only banks typically let you use your account the same day; branch banks sometimes hold transfers for 24 to 48 hours.
- All banks require a Social Security number, proof of identity, and a current address to open an account online.
- Some banks have minimum deposit requirements or monthly fees; others have neither, so compare before you choose.
What you need to open an account online
Every bank that opens accounts online requires the same core documents. You need a valid government-issued ID (driver's license, passport, or state ID card), your Social Security number, and a current address. Some banks also ask for a phone number and email address. Have these ready before you start — the process moves faster if you do not have to hunt for them.
A few banks ask for a minimum opening deposit, usually $25 to $100. Most online-only banks have no minimum. If you do not have money to deposit right away, check the bank's website or call before you begin — some will let you open the account with zero dollars and deposit later, while others will not complete the process without the deposit.
You will also need to choose how you want to fund the account. Most banks let you link an existing bank account and transfer money electronically, or you can mail a check, or you can deposit cash at an ATM if the bank has one. Online-only banks with no physical branches usually only accept transfers from another bank account.
Online-only banks versus banks with branches
The choice between the two comes down to how you plan to use the account. If you need to deposit cash regularly, a bank with branches or ATMs near you is more practical — online-only banks charge fees for cash deposits at third-party ATMs, or they do not accept them at all. If you rarely use cash and prefer to move money electronically, an online-only bank is usually cheaper because they have lower overhead and pass that savings on as higher interest rates and no monthly fees.
Online-only banks also tend to have simpler fee structures. Chase and Bank of America charge monthly maintenance fees unless you meet certain conditions (direct deposit, minimum balance, or linked accounts). Ally and Charles Schwab typically charge no monthly fee, period. Read the fee schedule on each bank's website — it is usually one page and tells you exactly what costs money.
Customer service is another difference. Online-only banks handle everything by phone, chat, or email. Banks with branches let you walk in and talk to someone in person, which some people prefer for complicated questions. Both have 24/7 phone support, so the difference matters only if you strongly prefer face-to-face help.
How the online verification process works
When you start opening an account online, the bank will ask you to enter your Social Security number and driver's license number. Their system checks these against databases to confirm you are who you say you are. This usually takes a few seconds to a few minutes. If the check passes, you move to the next step. If it does not, the bank will ask you to verify your identity another way — usually by uploading a photo of your ID, or by answering security questions about your financial history.
Some banks, particularly Charles Schwab and Ally, use video verification for accounts opened online. You will be asked to take a selfie and show your ID to a camera. This takes about five minutes and happens in real time — a person or an automated system watches to make sure the ID matches your face. Once that is done, your account is usually active within minutes.
Banks with branches sometimes use a different approach. They may complete the digital verification online, then mail you a debit card and ask you to set up it by visiting a branch or calling a number. This adds a few days to the process but is still faster than going to a branch to open the account in person.
Banks that are straightforward to open online
Charles Schwab has no monthly fees, no minimum deposit, and accepts cash deposits at any Schwab branch or linked ATM. The online process takes about 10 minutes and includes video verification. Your account is active the same day.
Ally Bank has no monthly fees, no minimum deposit, and pays interest on checking balances (the rate changes, so check their website). The online process takes 10 to 15 minutes. You cannot deposit cash at an ATM, but you can transfer from another bank account or deposit checks by phone.
Discover Bank has no monthly fees, no minimum deposit, and also pays interest on checking. The online process is similar to Ally — about 10 to 15 minutes, with no cash deposit option. Both Ally and Discover are FDIC-insured, so your money is protected the same way it is at any other bank.
Chase and Bank of America both let you open online, but both charge a monthly fee ($12 for Chase, $12 for Bank of America) unless you meet conditions like direct deposit or a minimum balance. The online process takes 10 to 20 minutes, and your account is usually active the same day. Both have thousands of branches and ATMs, which is useful if you deposit cash often.
Wells Fargo also offers online account opening with a monthly fee ($10) unless you meet certain conditions. Their process is similar to Chase and Bank of America — 10 to 20 minutes online, same-day set up, and widespread branch access.
What happens after you open the account
Once your account is open, you will receive a debit card in the mail within 7 to 10 business days. Until it arrives, you can still use the account to transfer money between banks, set up direct deposit, and pay bills online. You just cannot use it at a store or ATM.
Some banks let you request a temporary digital card number that works when ready for online purchases while you wait for the physical card. Check your bank's app or website to see if this option is available. Most online-only banks offer it; some branch banks do.
You will also be able to set up bill pay, link other accounts, and start receiving direct deposits right away. If you need to deposit a check, most banks let you do this through their mobile app by taking a photo of the front and back — no need to visit a branch or ATM.
Frequently Asked Questions
Can I open a checking account online if I do not have a Social Security number?
Most banks require a Social Security number to open an account. If you do not have one, some banks will accept an ITIN (Individual Taxpayer Identification Number) instead. Call the bank directly to ask — this is not something you can determine from their website, and policies vary.
How long does it take to open a checking account online?
The online process itself takes 10 to 20 minutes. Your account is usually active the same day or the next business day. If the bank needs to mail you a debit card or complete additional verification, that adds 7 to 10 business days before you can use the card in person, but you can still use the account online when ready.
Do I need to visit a branch to open an account online?
No. Online-only banks never require a branch visit. Banks with branches sometimes ask you to visit within 30 days to verify your identity in person, but this is not required to open the account — it is a follow-up step. Read the terms before you open to see if your chosen bank has this requirement.
What is the difference between opening online and opening in a branch?
Opening online is faster and you can do it anytime. Opening in a branch lets you ask questions face-to-face and sometimes get a debit card when ready instead of waiting for the mail. Both methods result in the same account with the same features and fees.
Can I open multiple checking accounts at different banks?
Yes. There is no rule against opening accounts at multiple banks. Some people do this to separate spending from savings, or to take advantage of different interest rates or features. Each account is insured separately by the FDIC up to $250,000, so your money is protected at each bank.