Instant Checking Account No Deposit

Instant Checking Account No Deposit Average ratng: 3,7/5 9325 votes

Most brick and mortar banks today charge hefty fees and require a minimum deposit in order to qualify for a checking account. The great thing about online banks though, is that they are much easier to manage and as a result, many of them are completely fee-free. Free online checking account with no deposit is definitely something you should consider if you are low on cash or if you’re just tired of paying so much in bank fees.

What Bank Does Not Require A Deposit
What Banks Have Instant Mobile Deposit

We made a list of the best online banks with no fees and no minimum deposit. Not only do these banks offer totally free checking but they also have other checking account features that may come as a surprise! Check it out:

A bank account is one of those required things in life. You need access to a debit card for purchases or direct deposit from an employer. A bank account is almost the only way to enjoy these basic services. But if you've experienced financial challenges or unexpected events - and the ensuing bad credit - it may be difficult to open a new bank account. The good news is that you can still open.
Learn More.APY=Annual Percentage Yield. APYs accurate as of January 1, 2021. Rates may change after account is opened. If qualifications are met each monthly qualification cycle: 1) Domestic ATM fees incurred during qualification cycle will be reimbursed up to $5/ATM transaction, with a $15 maximum credited to the account on or about the 5th day of the next month; 2) balances $10,000.00.
Altra Federal Credit Union's free checking account includes no minimum balance and no monthly fee, free debit card, online banking and bill pay, mobile banking, access to.
BBVA Online Checking. Cash Back on Select Purchases Through Simple Cash Back; No ATM Fees at.

Instant Check Cashing. Why wait for a check to clear? You can get instant access to that money with First Midwest Instant Check Cashing – whether you have a First Midwest deposit account or not. 1 First Midwest will cash checks within 7 days of issue up to $9,999.99. First Midwest Instant Check Cashing lets you cash almost any type of check. 2 Personal checks.

Types of free online checking accounts

Interest-Paying Accounts

Some online banks have checking accounts that pay you interest on your balance. Even if you are one of those people that have a highly fluctuating balance, it’s still nice to get even a little interest on your money since it’s completely free.

Unfortunately, the interest rates on these online checking accounts tend to be very small, so even you have a decent and steady balance in your account, don’t quit your job yet.

The following two banks are fee-free, require no minimum deposit and pay interest on your checking account balance:

Capital One 360 Checking

Capital One 360 checking account is great because it charges you no fees, has no minimum balance requirements and will even pay you simple interest on your balance. You can also get an ATM card to use with it and Capital One has over 39,000 ATM’s in the USA that you will be able to use for free. In addition, you will also get online banking privileges, mobile check deposit and mobile banking. For balances under $50,000 the APR is 0.20%.

Ally Bank Interest Checking

Ally Bank will also pay you interest on your online checking account. It has a slightly lower 0.10% interest than Capital One’s 0.20% APR. The kicker is if you have more than $25,000 in your bank account the APR jumps top 0.60%. With this Ally Bank account you get free checks, online bill paying privileges and a MasterCard debit card.

Related Article: Banks with No Fees

Online checking accounts that have unique features

Some online banks offer a few unique features on their free checking accounts that other banks do not offer. These include things like cashback on purchases, rewards points, linked investment accounts and more. Here they are:

Discover Bank Cashback Checking

Here is an online checking account with a twist. With it you get 10 cents back for each check you write, bill you pay online and each purchase you make with your debit card. It will pay you up to $10 per month for these things. Along with its special features you also get a free debit card that cost you nothing to use at over 60,000 ATM’s and a free checking account.

Charles Schwab Bank High Yield Investor Checking

Here is a high yield investor checking account from the popular Charles Schwab Bank that also includes a brokerage investment account along with it. There are no fees or minimum account deposit requirements with it either. You will also receive 0.15% on your balance and the ability to transfer money effortlessly between your checking and investment accounts. This account also includes a debit card, mobile banking, online banking and online bill paying privileges.

Bank of Internet USA Essential Checking

Here is an online bank that not only offers a checking account with no fees, no minimum balance and pays you interest but it also has a rewards program attached to its use. You will get cashback deposited directly into your account when you shop at specified merchants. Its online banking site also has a host of special tools to help you manage your account.

Basic free checking account with no minimum balance

The following banks allow you to open an online checking account with no fees and no minimum balance but beyond that they only offer very basic features:

Simple Bank Simple Checking

This account from Simple Bank is aptly named because it’s just that – a very simple and basic banking account. All you get with it is no fees, no minimum daily balance requirement and a debit card you can use at over 40,000 ATM’s free of charge. There is not even simple interest paid on your account balance. Its online banking site does include some useful budgeting tools such as its Safe-to-Spend tool. This feature factors in upcoming pre-planned deductions, payments and spending into your account balance.

First National Bank First National Checking

This online checking account from First National bank offers you an account with no fees attached and it does not require a minimum balance. There are no ATM fees with it either, if you use it at an approved ATM. Checks are free as well and you get one forgiveness per year on an overdraft or returned check. You also won’t be charged for cashier’s checks or paper statements like you will be at most banks. Once you are a customer with this bank, you are eligible for discount rates on auto loans, personal loans, Certificates of Deposit and IRA accounts. There are also eligible savings on safety deposit boxes and mortgage closing fees.

The Huntington National Bank Asterisk-Free Checking

Asterisk-Free Checking from this bank is void of fees, requires zero minimum balance and does not charge ATM fees at specified machines. There is a sizeable $3 fee for using a non-approved ATM. They have only 1800 approved ATMs so make sure there is one near you before you sign up to bank with them. With Huntington National bank you can also transfer money easily between any types of account you have with them. This bank will also automatically draw funds from another account you can link to save you money on overdrafts.

Big Banks

Larger land based banks do usually offer totally free checking but there is a laundry list of stipulations with them. For example: with Wells Fargo, if you don’t maintain a minimum balance of $1,500 in your checking account you will be charged a $10 fee each month. Other banks such as Chase and Bank of America also have $1,500 minimum balance requirements that have even higher $12 fees when you don’t meet this requirement each month.

So what’s the bottom line here? It’s a fact that if you pick the right online checking account which fits your banking needs you can save over $100 per year and get other nice benefits too.

A bank account is one of those required things in life. You need access to a debit card for purchases or direct deposit from an employer. A bank account is almost the only way to enjoy these basic services. But if you’ve experienced financial challenges or unexpected events — and the ensuing bad credit — it may be difficult to open a new bank account.

The good news is that you can still open a free online bank account with no credit check, no monthly fees, or minimum balance requirements. CheckingExpert has helped thousands of people just like you open online bank accounts. No credit check bank accounts that give you all the checking account features you need and deserve without the exorbitant fees many banks impose.

Credit Bureaus, ChexSystems, and Bank Accounts for Bad Credit

Most banks look at the credit history of their customers before granting them the ability to open a checking account. Some banks run a credit check through one of the major credit bureaus: TransUnion, Experian, or Equifax.

Other banks will dig deeper by turning to a company called ChexSystems. This company identifies your history with overdrafts, bad checks, and account freezes. Additionally, banks will look at check fraud, negative balances, and excessive withdrawals through Early Warning Systems (EWS). If you find yourself blacklisted by one of these companies, getting a bank account can seem impossible.

Getting A Bank When You Have Bad Credit

The researchers at CheckingExpert.com have selected the top two banks where you can get a bad credit bank account. There are no hidden fees, no minimum balance, and no monthly fees. You can apply online and it takes only a matter of minutes to complete the application process. If you’ve got bad credit and need a checking account, these banks are two very strong options.

What Bank Does Not Require A Deposit

Winners: Best Banks For Those With Bad Credit

The BBVA Online Checking Account is our favorite second chance bank account. They have the strongest offering of any of our recommendations. No hidden fees, no monthly minimums, and no monthly service charge. It’s easy to get approved and takes about 3 minutes. Plus, their smartphone app and online tools are the best we’ve reviewed.

Why do we recommend BBVA Online Checking so highly? If you’ve got poor credit or find yourself on ChexSystems, BBVA will approve you for an account.

NO monthly service charge
NO monthly account balance minimums
NO fees at over 64,000 Allpoint® and BBVA ATMs worldwide
FREE award-winning mobile app (one of the best we’ve reviewed)
FREE Visa® debit card you can personalize with your favorite photo
FREE online banking, bill pay, and mobile deposits
FREE money transfer to and from any email or mobile phone in the U.S. via Popmoney®, Venmo®, and other instant transfer services
FREE dedicated team of mobile bankers you can contact via text, email, or phone
FREE cash back rewards for everyday debit card purchases with Simple CashBack
FREE unlimited check writing
FREE Visa Zero Liability protects you against fraudulent purchases made on your debit card
BBVA USA, member FDIC

You can get an account today! The BBVA website is simple and easy to interact with. There is a $25 minimum deposit required to open an account and once that deposit clears, you’ll be off and running. Hands down, BBVA is one of the most friendly banks for those who have been negatively impacted by ChexSystems. The entire process from start to finish takes about 3 minutes. BBVA does not use ChexSystems but instead utilizes EWS to screen new applicants.

For anyone interested, I signed up for a BBVA Bank checking account. I have been using the new checking account, debit card, online website, direct deposit, and customer service for over a month now. I have to say I am genuinely impressed with everything they have done with me and my account.

So far it seems like the ideal bank.

B. Lewis, BBVA Customer

What Banks Have Instant Mobile Deposit

Chime Bank is a fast-growing internet-only bank. Unlike big banks, Chime was created during the smartphone era and, therefore, features an app that is more than just a way for customers to review their bank accounts.

And, best of all, Chime Bank accepts all customers who apply. Even if you have bad or poor credit or have been blacklisted by ChexSystems or credit bureaus.
Features include mobile deposits, direct deposit, online bill payment, NO monthly or annual fees, NO overdrafts, NO credit check, and NO CheckSystems.

Here are a few of the highlights:

FREE Visa® debit card
NO monthly service charge
NO monthly minimums
NO credit check; Bad credit OK
NO ChexSystems or Telecheck; guaranteed approval
FREE online banking and mobile banking/deposits
FREE mobile and online bill pay
NO foreign transaction fees
NO fees at over 38,000 MoneyPass® and Visa Plus Alliance ATMs worldwide
SAVINGS: You can round up every purchase to the nearest dollar and automatically deposit that difference into your savings account.

Chime Bank Lets You Get A Jump On Payday

You can receive your paycheck up to two days earlier than at a traditional bank if you set up direct deposit — Chime processes your employer’s check immediately instead of waiting like other banks may.

Chime Bank is one of the most friendly banks for those who have been negatively impacted by bad credit, ChexSystems, or Telecheck.

The SoFi Money Cash Management Account is offered by SoFi Securities LLC, a FINRA registered broker dealer. It’s a checking account on steroids and we love that. Plus, they don’t use ChexSystems to approve accounts. You get a debit MasterCard and a very slick smartphone app. You can make deposits, write checks, utilize electronic bill pay and transfer money. There are no monthly fees or overdraft fees. Plus, you earn interest on all the money in the account! The sign up process can take less than 60 seconds. There is no minimum balance requirement and you don’t have to make an initial deposit to get an account. Plus, you can earn a $50 cash bonus if you sign up for SoFi Money® and make one direct deposit of at least $500. Available in all 50 states.

No account fees
Unlimited reimbursed ATM fees
Access to SoFi member benefits like career coaching and financial advising
Automated bill pay
Freeze debit card on-the-go

Want A Local Bank or Credit Union? Here’s The List of Best Second Chance Banks and Credit Unions in Every State.

Unfortunately, most major banks don’t offer second chance checking. However, many community banks and credit unions have them under various names, such as Opportunity Checking and Fresh Start Checking.

Some banks and credit unions offer so-called second chance checking accounts to help people rebuild their credit and financial histories. These accounts usually carry monthly fees and come with a few other requirements, such as participating in a financial literacy or money management class. An account holder might also not be eligible for overdraft protection, since second chance banking serves as a way to prevent overdrawing an account altogether.

STATE BY STATE
Alabama	Alaska
Arizona	Arkansas
California	Colorado
Connecticut	Delaware
District of Columbia	Florida
Georgia	Hawaii
Idaho	Illinois
Indiana	Iowa
Kansas	Kentucky
Louisiana	Maine
Maryland	Massachusetts
Michigan	Minnesota
Mississippi	Missouri
Montana	Nebraska
Nevada	New Hampshire
New Jersey	New Mexico
New York	North Carolina
North Dakota	Ohio
Oklahoma	Oregon
Pennsylvania	Rhode Island
South Carolina	South Dakota
Tennessee	Texas
Utah	Vermont
Virginia	Washington
West Virginia	Wisconsin
Wyoming

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