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6 Bank Accounts You Can Open With No Deposit


You’ve come to the right place if you’re looking for a bank account with no deposit. These accounts are ideal for people who have a limited amount of cash on hand or want to save money for the future. They also offer a variety of features to help you manage your finances better. A checking account can be a great way to organize your money. They often come with low fees and are a safe place to store accessible cash.

However, some financial institutions require you to deposit before opening an account. This needs to be clarified.

Capital One

Capital One offers several online banks accounts with no deposit. Its 360 Checking account is a popular choice for people who want to avoid visiting a physical bank location.

Compared to many other national banks, you don’t need to maintain a minimum balance to earn interest on your checking account at Capital One. And it doesn’t charge fees for low ratios, either.

Its savings accounts are also free to open and easy to use. Moreover, its high-yield accounts offer competitive APYs. And it’s a member of the FDIC.


Varo Bank offers an online checking account without monthly fees and earning high APYs. It also provides a savings account with no minimum balance requirement and two auto-saving programs, Save Your Pay and Save Your Change.

The Varo Advance program offers a cash advance of up to $100 with no interest, and it can be used to help you avoid overdraft charges or late fees. Customers can qualify for a higher limit based on their direct deposit amount and repayment history.

Varo’s mobile app is available on both Apple and Android devices. It also lets you transfer funds from outside financial institutions directly to your Varo account, and it allows you to set up automatic transactions.

Ally Bank

Ally Bank is an online-only bank with minimal fees and high-interest rates on savings, money market accounts, and certificates of deposit. It also offers a wide variety of lending and investment services for customers.

Its online savings account lacks an opening deposit, minimum balance requirements, and monthly maintenance fees, paying 3.40% on average. However, this figure fluctuates based on daily balances.

Ally Bank’s checking account is also free from fees, with no monthly maintenance fee to maintain a minimum balance and two-day advance access to your paychecks through direct deposit. It earns 0.10% APY on deposits under $15,000 and 0.25% APY on balances over $15,000.


Chime offers a no-fee checking and savings account with no minimum deposit requirement. It also offers a Credit Builder account to help customers rebuild or establish credit.

The company aims to offer more consumers increased financial access and peace of mind with digital banking. This goal is reflected in its philosophy and corporate ethos.

The company offers a simple online application process that can be completed from the Chime website or mobile app. It doesn’t operate brick-and-mortar branch locations, and it does not offer loans or CDs.


Current is worth checking out if you’re looking for a modern online-only banking option. It offers faster direct deposits, gas hold removals, and special accounts for parents and teens.

Its app also offers features to help you track spending and create budgets. It also provides Savings Pods, making saving money for future goals easier.

However, Current customer service could be faster and email-only. For a more personal experience, consider other online banks offering phone support.


Discover might be the right choice if you’re looking to open a bank account without depositing. It offers a free checking account that earns cash back, has no monthly maintenance fees, and is available in all 50 states (and Washington, DC).

Discover also offers an online savings account with a high APY and no minimum balance requirements. It also doesn’t charge a fee for incoming wire transfers or official bank checks.

These features can help you avoid expensive fees and prevent you from overdrawing your account if you accidentally spend more than you have in your account. Consider the bank’s security measures to protect your personal information.

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