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Good news: You can open a checking account from the comfort of your couch. It's easy to open a checking account online. Once you've picked a bank, head to their website and click "Create an Account" to get started. You could have a bank account open within 10 minutes.
A checking account is best suited for everyday spending. A checking account makes it easy to store money and move it around. Employers can deposit money directly into your account. It's a convenient tool, especially when paired with a savings account.
Still unsure how to go about things? We'll break it down. Follow the step-by-step checklist below to open a checking account online.
First things first, you'll need to choose an online checking account. Narrow your options to checking accounts that meet your needs. As you look, keep the following things in mind:
Some banks offer cash incentives to entice you to open an online checking account. You'll need to meet specific account requirements to qualify for bonuses. Generous bonuses pay out hundreds of dollars. It's worth keeping in mind if you're on the fence about a particular bank or account.
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If you're looking for more in-depth information on checking accounts, here are a few we've reviewed:
Once you've chosen an account to open, you must fill out the online checking account application. It's typically fast and straightforward. You'll want to prepare the following personal information:
It's simple and quick. The process could be even simpler if you've already opened another account type at your bank, such as a savings account. You'll simply need to verify that nothing important has changed since you opened your last account.
Banks accept and approve applications for online checking accounts fast, often within minutes. Once the bank approves your application, there's just one step left before you can use your new online checking account.
Fund your account. Some banks require you to put money into your account to open it. Others will open right away, but if you don't fund the account, they'll automatically close within a few months. Accounts that require minimum deposits must be funded right away.
You can put money in your brand-new checking account by transferring funds from an existing bank account. You can do this via debit card or routing and account numbers. Don't have an existing account? Try one of the following alternatives:
Other options include wire transfers and mailed checks. Brick-and-mortar banks typically give you more deposit options than online banks, so keep that in mind when opening a checking account online. Once you've funded your account, you can use it right away.
Choosing your first checking account can feel overwhelming, to say the least. There are literally thousands of options. Here's what to pay attention to: fees, customer service options, and ATM access. If you're a digital native, you'll probably want to access your funds via a banking app, too. The following checking accounts are great options for beginners new to banking.
The SoFi Checking and Savings is a top-tier online checking and savings account combo with zero account fees. Account holders also enjoy features like early direct deposit (up to two days early) and ATM access.
Another online checking account to consider is Ally Spending Account. The checking account comes with no monthly maintenance fees or minimum balance requirements, and it earns interest on all balances. Ally customers have access to around 43,000 fee-free ATMs nationwide.
The Capital One 360 Checking account carries few fees, has no minimum balance requirement, and gives access to around 70,000 fee-free ATMs. Capital One customers can also receive direct deposits up to two days early.
Don't get caught paying nuisance checking account fees. Check out The Ascent's top checking account picks to open a fee-free checking account that earns a high interest rate.
Yes, many banks let you open a checking account 100% online. Online banks require it, and some brick-and-mortar banks give you the option. It typically takes minutes.
Yes, it typically is. You save time by not traveling or waiting in line. But if you struggle to open a checking account online, then it may be faster to open one at a physical branch. Either way, you can reach out to bank representatives to guide you through the process.
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