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How to Open a Bank Account Online With No Money

Jordana Bozhinova
Jordana Bozhinova

Last updated - February 28, 2025

Earn Money Testing Apps, Games, and Taking Surveys

Did you know you can save money through a bank account online? Several financial institutions offer this alternative for free. This guide will show the different types of bank accounts you can have online, the requirements, and how to open one. Keep reading to learn whether they are legitimate or not.

Types of Bank Accounts You Can Open Online for Free

The kind of accounts you can open may change from bank to bank, but these are the most common ones you can open for free: 

  • Checking Account: This one lets you easily deposit and withdraw money as needed.
  • Saving Account: A saving account pays a higher interest rate, unlike a checking account.
  • Certificate of Deposit (CD): Works like a savings account with a fixed interest rate for a specific period. 

Some banks offer free debit cards. You’ll have access to your money using your account number and pin. You can easily link these debit cards to checking accounts. They work anywhere that accepts Mastercard or Visa.

Requirements to Open a Bank Account Online

The process and documents required to open a bank account online vary depending on the insured bank or credit union you decide to work with. In general, you should always need to provide the following information:  

  • Legal name
  • Address
  • Financial information
  • Contact information (phone number and email)
  • Social Security Number 

Though most banks don’t ask for a deposit when you start working with them, online banks will ask for your account or routing number to link it to the account. This way, they can verify that you own the account indeed. Once you complete linking the two accounts, you will be able to transfer money easily whenever you need to.

Main Steps to Open a Bank Account Online

Opening a bank account online for free is a simple process. Here is a step to step guide: 

  • Find an Online Bank Account That Fits Your Needs 

Conduct thorough research on Google’s search results to find authentic financial institutions to open a bank account online for free. Ensure your selected bank is legit, reputable, and insured by the FDIC. Then, choose a bank that has all the features you need. 

  • Navigate the Website and Do Some Research 

To understand the features offered, you’ve to navigate through their website. Check if they have any specials or promotions that you can use to your advantage. For instance, some online banks give free $20 if you open an account. 

  • Enter Your Information 

Since every online bank account needs different information, follow the steps and fill in all information required by the financial institution. 

  • Link Your Other Account to the New Bank Account Online 

You must link an account, such as a checking account you own, to the new bank account online to transfer money. Some online banks allow linking to third-party apps like PayPal. However, you will have to verify your account to get approval. 

  • Transfer Your Money to the New Bank Account Online 

Even though you’ve managed to open a bank account online with no money, you still have to transfer some money to your new account to start using it. Transact after your account is verified and linked with your other account to enjoy its benefits.

The Bottom Line

You may have succeeded in opening a bank account online, but you still have to deposit money into it to be able to use it. If you’re tight on budget, Pawns.app has got you covered. You can earn money on this website by completing surveys or sharing your internet bandwidth. It is accessible anywhere globally, and you can easily use it to deposit all your earnings into your new bank account online.

FAQ

What’s the Easiest Bank Account to Open?

Generally, there is no easy bank account to open because every bank has its requirements. As such, some may need a minimum deposit to activate the account, while others may ask for more documents. To be sure what to expect, research each bank thoroughly or contact them to learn more about their requirements. 

Right now, one of the easiest banks to open an account online is Capital One 360. This bank doesn’t need a minimum deposit; all you need is your Social Security Number.

Where Can I Open a Bank Account Online for Free?

Some options are Moven, Ally, and Capital One 360. These banks don’t have monthly fees or minimum balance requirements. So, if you’re considering a free bank account, any of these four is good to go.

Jordana Bozhinova
Jordana Bozhinova

Copywriter, Pawns.app

Once an eighth-grade chemistry whiz, Jordana is now a BA in Psychology, hoping to one day tread through the fine weave of the psyche professionally. Chemistry still excites her, but not more than physics or music. A fan of creativity and innovation, Jordana has a passion for helping students find earning opportunities, budgeting insights, and studying tips. Personal growth and authenticity are always on her to-do list, and she'd like to see the world's pendulum swing in that direction, too.

Earn Money Testing Apps, Games, and Taking Surveys

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