10 Easy Bank Accounts To Open In December 2024

We chose SoFi’s combined checking and savings account because you can open an account in a couple of minutes online or through the mobile app with basic personal information and a driver’s license or other valid photo ID.

This is an interest-bearing combined checking and savings account with no monthly fees or minimum balance requirements. Plus, anyone who opens an account gains access to SoFi member benefits, including rate discounts on loans, travel offers, financial and career planning services and invites to exclusive member events.

• You’ll earn a 4.00% APY¹ on your savings account, along with 0.50%¹ on your checking account if you sign up for direct deposit (or make $5,000 in qualifying deposits every 30 days).
• Qualifying deposits include ACH transfers, peer-to-peer transfers from apps such as PayPal and check deposits, among other options.
• Transfers between your checking account and savings account, interest payments and bonuses do not count as qualifying deposits.
• There is no minimum balance requirement or monthly maintenance fee. You can find fee-free ATMs on the app, but you won’t be reimbursed for out-of-network ATM fees.⁶
• To avoid overdrafts, you can sign up for overdraft protection through linked accounts, which will move money from your savings account to your checking account⁵.
• You can also sign up for overdraft coverage if you receive at least $1,000 in monthly direct deposits. This allows you to receive $50 in overdraft coverage on debit card purchases only. There are no fees, but you must repay the amount owed within 30 days to keep coverage⁵.
• You can receive up to $2 million in additional FDIC insurance coverage through SoFi’s Insured Deposit Program².

¹SoFi members with Direct Deposit or $5,000 or more in Qualifying Deposits during the 30-Day Evaluation Period can earn 4.00% annual percentage yield (APY) on savings balances (including Vaults) and 0.50% APY on checking balances. There is no minimum Direct Deposit amount required to qualify for the stated interest rate. Members without either Direct Deposit or Qualifying Deposits, during the 30-Day Evaluation Period will earn 1.20% APY on savings balances (including Vaults) and 0.50% APY on checking balances. Only SoFi members with direct deposit are eligible for other SoFi Plus benefits. Interest rates are variable and subject to change at any time. These rates are current as of 12/3/24. There is no minimum balance requirement. Additional information can be found at http://www.sofi.com/legal/banking-rate-sheet. 

²SoFi Bank is a member FDIC and does not provide more than $250,000 of FDIC insurance per legal category of account ownership, as described in the FDIC’s regulations. Any additional FDIC insurance is provided by the SoFi Insured Deposit Program. Deposits may be insured up to $2M through participation in the program. See full terms at SoFi.com/banking/fdic/terms See list of participating banks at SoFi.com/banking/fdic/receivingbanks

³SoFi does not charge any account, service or maintenance fees for SoFi Checking and Savings. SoFi does charge a transaction fee to process each outgoing wire transfer. SoFi does not charge a fee for incoming wire transfers, however the sending bank may charge a fee. SoFi’s fee policy is subject to change at any time. See the SoFi Checking & Savings Fee Sheet for details at sofi.com/legal/banking-fees/.

⁴Early access to direct deposit funds is based on the timing in which we receive notice of impending payment from the Federal Reserve, which is typically up to two days before the scheduled payment date, but may vary.

⁵Overdraft Coverage is limited to $50 on debit card purchases only and is an account benefit available to customers with direct deposits of $1,000 or more during the current 30-day Evaluation Period as determined by SoFi Bank, N.A. The 30-Day Evaluation Period refers to the “Start Date” and “End Date” set forth on the APY Details page of your account, which comprises a period of 30 calendar days (the “30-Day Evaluation Period”). You can access the APY Details page at any time by logging into your SoFi account on the SoFi mobile app or SoFi website and selecting either (i) Banking> Savings> Current APY or (ii) Banking> Checking > Current APY. Members with a prior history of non-repayment of negative balances are ineligible for Overdraft Coverage.

⁶We’ve partnered with Allpoint to provide you with ATM access at any of the 55,000+ ATMs within the Allpoint network. You will not be charged a fee when using an in-network ATM, however, third-party fees incurred when using out-of-network ATMs are not subject to reimbursement. SoFi’s ATM policies are subject to change at our discretion at any time.

We chose Varo’s online bank account because it’s a free account that doesn’t look at ChexSystems (your banking history) and has one of the shortest online and mobile applications. All you need to apply is your basic personal information, a valid photo ID and a selfie. The Varo Bank Account offers several top-tier perks, like early direct deposit, fee-free ATM access and no hidden fees.

In 2020, Varo became the first U.S. consumer fintech company to receive a national bank charter, allowing it to offer FDIC insurance and expand its banking services.

Varo doesn’t charge for depositing cash with the Green Dot Reload program, but a $5.95 service fee applies.

Varo maintains more than 40,000 surcharge-free ATMs—but there’s a $3.50 cash withdrawal fee for out-of-network ATM transactions. Account holders receive a contactless Visa debit card, which comes with zero liability for unauthorized charges. The Varo Visa debit card earns up to 6% cash back on select brands.

Account holders can deposit cash into their Varo account at more than 90,000 retail locations using Green Dot Reload. Many other online banks don’t accept cash deposits.

Wise made the top of our list because you can open an account in minutes by uploading a photo of a valid ID and providing some basic personal information. Plus, Wise accounts are available for U.S. residents and non-residents.

Wise is not a traditional bank account. Instead, the London-based fintech allows you to transfer money in 40 currencies and to 160 countries. Accounts work similarly to a bank account, including an option to earn interest, get a debit card (for a one-time $9 fee) and set aside funds for savings goals.

You can only have one personal Wise account. There’s no fee to open a Wise account, but the company charges fees for certain transactions. The fee for transfers and currency conversions varies between currencies and starts at 0.43%. Your first two ATM withdrawals each month are free if the amount withdrawn is less than $100. Three or more ATM withdrawals carry a $1.50 charge per withdrawal. ATM withdrawals over $100 per month carry a charge of 2% of the amount over $100.

We like Chime because you can open a checking account in approximately two minutes online or through the Chime mobile app. Eligibility doesn’t include a credit check or ChexSystems check, so it’s easy to get approved. Chime’s online checking account comes with a highly rated mobile app and no fees or minimums.

Banking services and debit card provided by The Bancorp Bank or Stride Bank, N.A.; Members FDIC.

Customer service is available seven days a week by email or phone.

You can receive direct deposits up to two days early², and this account works with Google Pay and Apple Pay.

Chime customers get access to more than 60,000 surcharge-free ATMs³. It charges $2.50 per transaction at out-of-network ATMs. Out-of-network ATM withdrawal fees may apply except at MoneyPass ATMs in a 7-Eleven location, or any Allpoint or Visa Plus Alliance ATM.

The Current online banking app offers the best of checking and savings in one account, and its high APY and debit card rewards program helped it make our top 10 list. You can earn points, which are redeemable for cash back, on debit card purchases at over 14,000 merchants. Opening a Current account is as simple as downloading the app and providing some basic information to verify your identity. You can even get a virtual debit card instantly.

You can earn a 4.00% bonus if you receive monthly direct deposits of $200 or more; if not receive 0.25%. You can earn this rate on balances up to $2,000 per Savings Pod or $6,000 total. Balances over the limit and account holders that don’t meet direct deposit requirements earn the the lower bonus base rate. To qualify for fee-free overdraft protection, you must receive $500 or more in qualifying direct deposits over the previous 30 days.

Capital One made the list because it offers one of the easiest checking accounts to open at a big bank. The account has no minimums or fees, and customers have access to an impressive network of over 70,000 fee-free ATMs. It takes just a few minutes to open an account online or through the mobile app. For anyone with negative marks on their banking history, Capital One 360 is also one of the best banks that don’t use ChexSystems.

Interest is compounded and credited monthly for 360 Checking. You may incur fees for cashier’s checks, outgoing domestic wire transfers and additional checkbooks.

As one of the top online banks, Ally made our list for its easy-to-use website and mobile app and its lack of a minimum deposit requirement. The application takes a few minutes to complete and allows you to easily upload a photo ID.

With this interest-bearing checking account, customers can create spending buckets to help them budget and track spending. If you set up a free Ally savings account, you can also have spare change automatically transferred to savings where it will earn a much higher interest rate.

A child can use the account’s debit card at more than 55,000 ATMs, and Ally reimburses up to $10 per statement cycle for fees charged at out-of-network ATMs.

You can deposit checks and manage other daily tasks with Ally Bank’s highly rated mobile app.

Revolut came out as a top pick because one quick application gets you an all-in-one solution to digital banking, money management, investing and other financial services. Plus, you don’t need a Social Security number or Individual Taxpayer Identification Number (ITIN).

Customers can earn interest and rewards, access budgeting tools and send and request money with individuals in over 140 countries. Accounts come with a debit card and fee-free ATM access.

Revolut doesn’t charge a monthly maintenance fee. Instead, customers can sign up for a monthly plan based on the option that works best for them. Options include the Standard plan for $0 per month, the Premium plan for $9.99 per month and the Metal plan for $16.99.

U.S. Bank Safe Debit Account is our top pick for individuals with poor banking history, which may prevent them from opening a more traditional checking account. The checkless checking account is designed for people who need a second chance checking account and features a monthly service fee, which cannot be waived, but has a relatively low opening deposit requirement and comes with a debit card.

Unlike other banks on this list, U.S. Bank has a large physical presence, with over 2,000 branches in 26 states. You can apply for an account online with a Social Security number, a valid photo ID and the minimum opening deposit.

U.S. Bank does not charge overdraft fees for the Safe Debit Account. The account is not eligible for overdraft services. Transactions will be declined if you do not have sufficient funds in your account to cover the cost.

Alliant Credit Union came out as the credit union with the easiest bank account to open, thanks to its simple online application. It’s also easy to qualify for membership by becoming a member of Foster Care to Success (FC2S) for a one-time $5 fee upon applying.

Alliant Credit Union High-Rate Checking earns above-average interest with no minimum balance requirements and no monthly fees. Also, members have access to 80,000 fee-free ATMs and $20 per month in out-of-network ATM fee rebates.

Anyone can join Alliant through its partner charity, Foster Care to Success (FC2S). A $5 donation is required to become a member, but the fee is credited back to your account once it’s set up. The yields earned on credit union accounts are referred to as dividends rather than interest. Dividends are compounded monthly and credited monthly. To earn the APY, you must opt in to receive eStatements and have at least one monthly electronic deposit to your account.

The credit union offers a top-rated website and mobile app. Available for iOS and Android, the app lets you deposit checks, use budgeting tools and manage daily financial transactions.