Yes, you can open a bank account without depositing money upfront

Most banks and credit unions will let you open a checking or savings account with no initial deposit. You walk in (or go online), provide identification and proof of address, sign the account agreement, and the account exists—empty. You then deposit money when you have it, or never, depending on what you need the account for.

The catch is not whether you can open it. The catch is what happens after. Some banks charge monthly fees on accounts that stay below a minimum balance, usually $100 to $500. Others waive fees if you set up direct deposit, keep a certain balance, or maintain a linked savings account. A few charge nothing no matter what. Which bank you choose determines whether an empty account costs you money each month.

Key Takeaways

  • Most banks allow you to open an account with zero dollars, but read the fee schedule before you choose which bank.
  • Monthly maintenance fees range from $0 to $15 depending on the bank and account type, and some banks waive them if you meet conditions like direct deposit or minimum balance.
  • Online banks and credit unions are more likely to have no-fee accounts than large national banks.
  • You will need a government ID and proof of address (utility bill, lease, or bank statement) to open an account in person or online.
  • Some banks will not open an account if you appear in ChexSystems, a banking history database, but you can still find banks that will work with you.

What you need to bring or provide

To open an account, you need a government-issued ID (driver's license, passport, or state ID card) and proof of your current address. A utility bill, lease agreement, or recent bank statement all work for address proof. If you are opening the account online, you will upload photos of these documents or answer identity verification questions.

Some banks also ask for a Social Security number or Individual Taxpayer Identification Number (ITIN). If you do not have a Social Security number, ask the bank whether they accept ITIN or other identification—some do, some do not. A few banks will open accounts for people without either, but these are less common.

You do not need to bring money. You do not need a minimum deposit to complete the opening process. The account opens empty.

Banks that charge no monthly fees

Online banks almost always have zero-fee checking accounts because they have no physical branches to maintain. Ally Bank, Charles Schwab Bank, and Discover Bank all offer checking accounts with no monthly fee, no minimum balance, and no direct deposit requirement. You can open these accounts entirely online and start using them when ready.

Credit unions often have low or no fees as well. If you are a member of a credit union (through your employer, school, or community), ask about their basic checking account. Many credit unions charge $0 to $5 per month, or nothing if you maintain a small balance like $25.

Some large national banks offer no-fee accounts too, but usually with conditions. Bank of America's SafePass checking has no monthly fee if you have direct deposit or maintain a $500 balance. Chase's basic checking account costs $12 per month unless you keep $1,500 in the account or set up direct deposit. Read the fee schedule on the bank's website before you open the account—the conditions matter.

What happens if you have banking history problems

If you have been denied a bank account before, or closed an account with a negative balance, your name may appear in ChexSystems, a database that banks check when you explore. Banks use ChexSystems to see whether you have unpaid overdrafts or a history of fraud. If you are in the system, some banks will deny your process automatically.

You are not locked out of banking. Second-chance checking accounts exist specifically for people with ChexSystems records. Banks like Chime, LendingClub, and some regional banks offer these accounts with higher fees (sometimes $5 to $15 per month) but no ChexSystems check. You can also ask your bank to pull your ChexSystems report and dispute any errors on it—mistakes happen, and you have the right to correct them.

Credit unions are sometimes more flexible about ChexSystems records than banks. Call ahead and ask whether they check it before you go in.

Fees to watch for on empty accounts

The main fee on an empty account is the monthly maintenance fee, which ranges from $0 to $15 depending on the bank. Some banks charge this fee every month no matter what. Others waive it if you meet one of these conditions:

  • Direct deposit of your paycheck or government benefits
  • Maintaining a minimum balance (often $100 to $500)
  • A certain number of debit card transactions per month
  • Linking a savings account to the checking account
  • Being a student or senior (some banks offer age-based waivers)

If you open an account and do not meet any of these conditions, the monthly fee will be charged even if your balance is zero. After a few months of fees, you could owe the bank money. Check the fee schedule before you open the account, and ask the bank representative which conditions would waive the fee for you specifically.

Opening an account online versus in person

Online accounts open faster—usually within minutes—and you never leave home. You upload your ID and proof of address, answer security questions, and the account is ready. You can start using it the same day, though some banks hold your first deposit for a day or two.

In-person accounts take longer but give you a chance to ask questions and understand the fees before you commit. You sit with a bank representative, they explain the account terms, and you sign the paperwork. The account opens that day. This route works better if you are unsure about fees or want to understand what conditions waive them.

Either way, you do not need money to complete the process. The account opens empty, and you deposit money later.

What you can do with an empty account

An empty account is still a real account. You can set up direct deposit to it, receive transfers from other people, and use the debit card (once it arrives) to make purchases if you overdraft protection is off. Some people open accounts specifically to receive a paycheck or government benefit, even if they do not plan to keep money in it long-term.

You can also use an empty account as a holding place for automatic payments. If you set up a bill payment to come out of the account before your paycheck arrives, the bank will either decline the payment (if overdraft protection is off) or charge you an overdraft fee (if it is on). Know which setting your account has before you set up automatic payments.

Frequently Asked Questions

Will the bank charge me fees on an empty account?

Only if the account has a monthly maintenance fee and you do not meet the conditions to waive it. Some banks charge $0 per month no matter what. Others charge $5 to $15 per month unless you have direct deposit, maintain a minimum balance, or meet another condition. Check the fee schedule before you open the account.

How long does it take to open an account with no money?

Online accounts open in minutes. In-person accounts take 15 to 30 minutes. The account is ready to use the same day, though some banks hold your first deposit for one business day before you can withdraw it.

Can I open an account if I have been denied before?

Yes. If you were denied because of ChexSystems, look for a second-chance checking account at banks like Chime or LendingClub. If you were denied for another reason, try a credit union or an online bank—they sometimes have different approval standards than large national banks.

Do I need a Social Security number to open an account?

Most banks require one, but not all. If you have an ITIN instead, ask the bank whether they accept it. Some banks do. If you have neither, call credit unions in your area—a few will open accounts with other forms of identification, though this is less common.

What happens if I never deposit money?

If the account has no monthly fee, nothing happens—the account sits empty. If the account has a monthly fee and you do not meet the conditions to waive it, the bank will charge you each month until the account balance goes negative and the bank closes it. Avoid this by choosing a no-fee account or meeting the waiver conditions.