Open a Bank Account Online with No Deposit and Bad Credit (EASY Process)

You are not going to survive without a bank account. It is almost impossible to make financial progress when you have no place to store, keep track of, or build your money. The world is quickly changing to electronic purchases with debit cards and credit cards, which means less cash; it is becoming impossible not to have online access to your money in a checking account from banks and credit unions.

You need to open an online bank account so that you can:

  • Have instant access to your paycheck with direct deposit into your bank account
  • Avoid paying fees for check cashing, buying a prepaid debit card, and money orders.
  • Save money in a safe, secure place and expand your money with high-interest rate bank accounts
  • Take advantage of bank account features that will help you become financially healthy such as automatic bill pay, budgeting tools, overdraft protection, account notifications, and more.

You may be thinking that you would love to open a new bank account, but due to your financial situation with a low credit score and bad credit, you cannot enroll in any bank account that you choose. Having bad credit can limit your options when it comes to opening a new bank account. Don’t give up hope, though; there are many options for those who struggle to be approved for a bank account due to bad credit or a credit check.

Looking for a Convenient and Simple Way to Open a Bank Account?

Remember when I said there are many more bank options located right at your fingertips for those with bad credit reports? These types of banks are online-based and easy to access with your computer, phone, or tablet. They are also not too concerned with poor credit reports or bad banking history with other banks or credit unions because they don’t use consumer reporting agencies or look at your credit score. It is convenient to get to these banks, but it is also straightforward to apply for a bank account. Remember, with just a click of a button and a few details of personal information, you are enrolled, and a debit card is on its way to you. For the most part, there is nothing else you need to do besides talking with your employer to set up a direct deposit and wait to get your debit card.

We know that the traditional way of opening a new bank account with a credit union or bank can be a hassle. You have to fill out a bunch of paperwork, hand over a deposit and wait to be approved. But opening a new bank account doesn’t have to be inconvenient. We have found that there are many different ways to have an online checking bank account, and there are many different ways to get around the reasons why you don’t have one even with a poor credit report. With these types of bank accounts, you can:

  • Enroll in as little as a few minutes
  • Wait to put money into your bank account
  • Have a bad credit history or poor ChexSystems report and still be able to open a checking account
  • Still enjoy all the great features of a traditional bank or credit union account.

Open a Bank Account Online with No Opening Deposit and with Bad Credit with these Banks

We have compiled a list of the top 5 best online-based checking accounts for bad credit. When you go with online-based checking accounts, you tend to find less monthly maintenance fees and fewer restrictions on your second chance bank accounts. These bank accounts are convenient, quick to enroll in, and offer many great features to help you maximize your financial potential and success.

1.BBVA Bank

BBVA Bank has many physical bank locations across the United States. Still, they allow anyone to apply for their bank accounts from almost anywhere in the U.S. BBVA is our top pick because they offer online and physical banking options and provide many features with little to no costs to you. They won’t review your banking history or bad credit like other banks and credit unions but may check you through Early Warning Service (EWS) as a precaution against fraud. Check out the Online Checking account offered through the bank for a second chance bank option.


  • An opening deposit of $25 is required to open your bank account.
  • No monthly maintenance fees
  • Access free ATMs at over 64,000 AllPoint and BBVA locations
  • Enjoy complimentary online banking, mobile banking, mobile deposit, and more.
  • Receive a free VISA debit card per account holder
  • When you use your debit card, you will be eligible for “Simple Cash Back Rewards.”
  • Take advantage of BBVA’s overdraft protection programs’ financial tools to avoid overdrafts.
  • Enroll in BBVA Clear Benefits Program for $4.00 a month to receive benefits like identity theft restoration, cell phone protection, and more.

2.Varo Bank

Varo Bank is solely an online-based second chance bank account with a free online checking and savings that has virtually no fees and excellent benefits. The savings account is a high-yield savings that can earn you more money and help you save on daily transactions. Signing up takes only a couple of minutes, and then you are ready to use your account. The accounts work best through the mobile phone app and can be accessed on the computer, although some features are unavailable outside of the app. Varo doesn’t review your credit score by running a credit check or considering poor banking history like other banks and credit unions.


  • No deposit to open a bank account is required.
  • No monthly minimum balance requirement, monthly service fees, or overdraft fees
  • No transaction fees at 55,000 AllPoint ATM locations
  • If your friends use Varo, you can instantly transfer money to their bank account with no fees or waiting.
  • The app provides push notifications whenever a deposit is received or a transaction is deducted from your account.
  • You may also be eligible to receive your direct deposit up to 2 days before payday.
  • You will receive a contactless VISA debit card.
  • Deposit cash at 90,000 retail locations using “Green Dot Reload” at the register for a small service fee.
  • Lock your card on the mobile app in case it gets lost or misplaced.
  • Pay with your phone using “Apply Pay,” “Google Pay,” “PayPal,” or “Cash App.”
  • Take advantage of offers in the Varo app for discounts, insurance offers, and more!

3.Chime Bank

Banking face to face is a thing of the past now that online-based checking accounts are around. Chime is another bank that provides banking features online with no physical bank locations. Chime is also considered a second chance checking account because they won’t run a credit check with the credit bureaus on your credit score or review your poor banking histories like other banks and credit unions. The Chime free online checking Spending account will provide you all the great features an online bank account can provide.


  • No monthly service transaction fees
  • There are no overdraft fees when enrolled in “Spot Me.”
  • No deposit or minimum deposit to open a bank account is required
  • Receive a free VISA debit card and free replacements if needed
  • Savings accounts with Chime will you help you save as you spend. Every transaction will round to the nearest dollar and transfer the difference to your account.
  • Disable transactions in the Chime mobile banking app in case your debit card is lost
  • Leave your card at home and use mobile pay platforms to make purchases.
  • Your direct deposit may arrive up to 2 days early once Chime is notified of the incoming deposit.
  • Withdraw cash from over 38,000 free ATM locations
  • Instantly transfer money to others with a Chime Spending account for free with “Pay Friends.”
  • Apply for a “Chime Credit Builder VISA Secured Credit Card” with no credit check required, no fees, and 0% interest. These types of credit cards can help you rebuild your credit.

4.Radius Bank

Radius Bank is an online bank that provides many different checking accounts to its members. The Essential Checking account is a second chance banking option. With this account, your banking history, bad credit, or ChexSystems report won’t affect your ability to enroll in this checking account like other banks and credit unions. A few restrictions come with this checking account, but you can upgrade to a better checking account after 12 months of positive banking history.


  • The monthly service fee is $9 for this new bank account.
  • No opening deposit, minimum deposi, or minimum balance required to open a bank account
  • Your debit card is limited to $250 for the first 30 days and then increased to $500 a day.
  • Mobile check deposit is limited to $1,000 a day and $2,000 every 10 days.
  • Take advantage of the Radius mobile app to pay friends, use online bill pay, and manage accounts on the go.
  • Enroll in “Apple Pay,” “Google Pay,” or “Samsung Pay” to make purchases with your phone
  • Enroll in direct deposit to get access to your money right away on payday
  • Use the Radius mobile app to turn off your debit card if needed, set spending caps, and more.
  • Take control of your finances by utilizing the integrated financial dashboard. The dashboard will help you create a budget, track spending, analyze trends, avoid overdraft fees, make a plan to pay off debt, and more.
  • After 12 months of positive banking history, upgrade your checking account to a Rewards Checking account.

5.Acorns Spend Account

The Acorns Spend Account is much more than just an online bank account. It is built to help you spend, invest, and save for retirement. Their heavy-metal, signature engraved VISA debit card will do more than help you make purchases. It will help you save and invest money without having to think about it. They offer three subscription plans for checking accounts as maintenance fees from $1 to $5 per month for their products to help support you in your financial wellness.


  • No deposit required to open an account
  • Pay $1 per month for a “Lite” plan, which to open an investment account.
  • Pay $3 a month to open a bank account for a “Personal” plan, which consists of an investment account, retirement account, and a spend checking account
  • Pay $5 a month for a “Family” plan to open an investment account, retirement account, a spend checking account, and an early investment account for kids.
  • Online and mobile banking is included with direct deposit, mobile check deposit, bill pay, and more.
  • Acorns will instantly invest spare change for you from your daily purchases.
  • Take advantage of free ATMs at over 55,000 locations nationwide.
  • “Smart Deposit” is set up to help you automatically save money before it gets spent.
  • Receive a free tungsten metal debit card
  • Receive up to 10% bonus investments when spending as well as money tips

There are Risks When Opening a Bank Account Online, But They Can Be Overcome

Anytime we have to enter personal information online or login to secure websites, like a bank account, we want to be cautious and aware of what site we are on, how secure it is, and how protective we are with our information. It is important to do this because there are many risks that our data could be hacked if not careful. This is especially needed for those with a poor credit report who can’t risk having their banking history tarnished even further with fraudulent activity occurring on their checking account.

Risks include:

  • A hacker could obtain your username, password, PIN, and security questions if that information is not well protected.
  • You could be scammed to give out information via a fake email asking you to login or via a phone call where the hackers are pretending to be from your bank or credit union.
  • Your debit card could be scanned when out making purchases resulting in unwanted charges on your account.

Ways to Overcome Risks:

  • Store your account passwords in a safe place; a good place to store sensitive data are in a password protected excel spreadsheet or a password vault. And don’t share the password where you store your passwords with anybody that doesn’t share the finances.
  • Create strong passwords, password vaults can automatically generate very secure passwords for you, and passwords that come with a phrase are easy to remember. “I love my dog 4050” can translate to “IlMd4050.”
  • Avoid running your debit cards as debit requiring a PIN; rather use them like credit cards so that your PIN won’t be stored. If someone hacks into the gas station or store’s computer system, they won’t have your PIN.
  • Be careful when logging into your account on public Wi-FI or computers; always log out of your bank account when done. Use a VPN to restrict hackers from getting into your internet and viewing what you are doing online.
  • Review your online banking activity and electronic statements at least a couple of times a week to catch fraudulent activity. Definitely question small charges that you didn’t make right away. You could even set alerts on your account for every transaction.
  • Use a wallet that resists people from scanning one of your cards in order to get the number. Also pull on the gas pump card reader when filling up your car to make sure it there isn’t a fake reader placed on there reading your card when inserted.

Bad Credit Won’t Hold You Back From Opening One of These Accounts

Having bad credit may hinder your ability to open an account at the local bank down the street, but it doesn’t mean that it is your only option. Many banks and credit unions offer second chance bank accounts to those with poor banking history, bad credit history, and a low credit score. These accounts don’t require credit checks or look at consumer reporting agencies like ChexSystems to make their determination of eligibility. Many of these types of banks may be located in your city, but there are many more options right at your fingertips. Consider opening a bank account online for a second chance banking option that will help you rebuild your credit history and banking history. You can see more of the best checking accounts for bad credit.

It also may not hurt to try to repair banking history mistakes and bad credit. A simple way to start is by pulling your ChexSystems report to review what has been reported for accuracy. Having your ChexSystems report helps to see if there are unpaid balances that should be paid or settled. It can also reveal information that may have been misreported and needs to be disputed. Once all debts with previous banks and credit unions have been paid or disputed, it will make it easier to open a new bank account with bad credit.

Another way to repair bad credit is to take advantage of credit card offers that have no annual fees or interest charges like those from Chime Bank. This credit card is made to help you build credit without going into debt or adding more loans to pay off, you will use your funds from your checking account and pay for things with your credit card in order to report good activity to the credit reporting agencies.

Even with No Deposit, You Can Still Open One of These Accounts

Another thing that hinders people with bad credit from opening a bank account is that many traditional banks or credit unions require an opening deposit, minimum deposit, and a minimum balance. While there is usually not a way around getting an account that requires an opening deposit or a minimum balance, there are many other bank account options that have no deposit requirements, don’t need any amount of money to enroll or to maintain your account’s open status.

Other bank account options, other than a traditional bank or credit union, are online bank accounts. You can open an account online with no deposit or maintaining a minimum balance, even with bad credit. Many of these online bank accounts include savings accounts that require no deposit or a minimum balance as well. Check out the best savings account for bad credit.

Some may require or encourage direct deposit in order to keep your account open or to unlock certain features. For example, Varo will give you the highest interest rate on your savings account with at least a $1,000 monthtly deposit and allow you to overdraft to a certain amount without fees. It is not required, but it opens up a world of other options and features.

Even in the hardest and roughest of financial situations, there are still ways to get ahead. Some of these banks require a monthly fee, some require an opening deposit, and some have no fees or requirements. Compare the convenience and the features for what you need to become successful in banking and to make your life easier. Review our list of banks to pick out the best account that fits your needs. Check out more articles on what are the best banks that don’t use ChexSystems and these online checking accounts with no ChexSystems.