10 Easy Bank Accounts To Open In 2025

Opening a SoFi Checking and Savings Account account is easy and takes just a few minutes. To apply, you’ll need to provide your name, contact information, citizenship status, Social Security number or ITIN and, in some cases, a photo ID to verify your identity.

Once you have the account, customers agree that setting up direct deposit is just as easy.

Why We Like It

We like the fact that this account has no monthly fees or minimum deposit requirements.

What We Don’t Like

To earn the higher APY, you must get paid by direct deposit or add $5,000 or more to your account every 30 days.

Who It’s Best For

This account is ideal for individuals seeking an easy-to-open account that earns a solid APY and who are okay with a soft credit pull.

• Direct deposit means a recurring deposit of regular income to an account, including payroll, pension or government benefit payments
• Access additional insurance up to $2M on deposits
• Overdraft coverage automatically transfers funds from your savings account to cover the overdrawn amount

¹SoFi members who enroll in SoFi Plus with Eligible Direct Deposit or by paying the SoFi Plus Subscription Fee every 30 days or SoFi members with $5,000 or more in Qualifying Deposits during the 30-Day Evaluation Period can earn 3.80% annual percentage yield (APY) on savings balances (including Vaults) and 0.50% APY on checking balances. There is no minimum Eligible Direct Deposit amount required to qualify for the stated interest rate. Members without either SoFi Plus or Qualifying Deposits, during the 30-Day Evaluation Period will earn 1.00% APY on savings balances (including Vaults) and 0.50% APY on checking balances. Only SoFi Plus members are eligible for other SoFi Plus benefits. Interest rates are variable and subject to change at any time. These rates are current as of 1/24/25. There is no minimum balance requirement. If you have satisfied Eligible Direct Deposit requirements for our highest APY but do not see 3.80% APY on your APY Details page the day after your Eligible Direct Deposit arrives, please contact us at 855-456-7634. Additional information can be found at http://www.sofi.com/legal/banking-rate-sheet. See the SoFi Plus Terms and Conditions at https://www.sofi.com/terms-of-use/#plus. 

²We’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.

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. Our 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 Eligible 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.

⁶New and existing Checking and Savings members who have not previously enrolled in Direct Deposit with SoFi are eligible to earn a cash bonus of either $50 (with at least $1,000 total Eligible Direct Deposits received during the Direct Deposit Bonus Period) OR $300 (with at least $5,000 total Eligible Direct Deposits received during the Direct Deposit Bonus Period). Cash bonus will be based on the total amount of Eligible Direct Deposit. If you have satisfied the Eligible Direct Deposit requirements but have not received a cash bonus in your Checking account, please contact us at 855-456-7634 with the details of your Eligible Direct Deposit. Direct Deposit Promotion begins on 12/7/2023 and will be available through 1/31/2026. Full terms at sofi.com/banking. SoFi Checking and Savings is offered through SoFi Bank, N.A., Member FDIC.
SoFi members with Eligible Direct Deposit can earn 3.80% annual percentage yield (APY) on savings balances (including Vaults) and 0.50% APY on checking balances. There is no minimum Eligible Direct Deposit amount required to qualify for the 3.80% APY for savings (including Vaults). Members without Eligible Direct Deposit will earn 1.00% APY on savings balances (including Vaults) and 0.50% APY on checking balances. Interest rates are variable and subject to change at any time. These rates are current as of 1/24/25. There is no minimum balance requirement. Additional information can be found at http://www.sofi.com/legal/banking-rate-sheet.

You can apply for a Varo Bank Account account through the mobile app or website. Opening an account is simple and takes a few minutes. You’ll need a verified ID, a selfie for security purposes, a Social Security number and a mailing address. Varo does not perform a hard credit check or review ChexSystems when you apply for a new account.

Why We Like It

Varo’s bank account has no monthly or overdraft fees, no minimum balance requirement and a network of over 40,000 fee-free ATMs.

What We Don’t Like

This account earns no interest on balances.

Who It’s Best For

Varo is an excellent choice for consumers who want a quick and simple application process without a hard credit check.

• To open an account, you’ll need access to a device that can run the Varo app and an active email account
• Earn up to 3% cash back at select merchants up to $200 per month
• Get paid up to two days early with the early paycheck feature

Wise bank accounts are available for both U.S. residents and nonresidents. Applying for an account takes only a few minutes. You’ll need your passport (photo page only), national ID card and driver’s license, along with other standard personal information and a selfie.

Why We Like It

We like that this account is open to non-U.S. residents—a feature that not many accounts offer.

What We Don’t Like

Wise has temporarily paused issuing debit cards to customers in the U.S.

Who It’s Best For

This account is a good option for individuals who travel frequently and carry multiple currencies.

• No monthly fees or minimum balance requirements
• Receive interest on USD, GBP and EUR balances by opting into the interest feature, which is 3.92% APY on USD. Wise takes a small portion of the interest earned on these funds to cover operating expenses. *Not available to New York and
• Alaska residents at this time.
• Transfer funds internationally for a small fixed fee

A Chime® Checking Account can be opened in as little as two minutes. Chime does not check your credit or ChexSystems file when opening an account, so approval is easy.

Why We Like It

The Chime bank account offers various features, such as fee-free overdraft up to $200¹ and direct deposits up to two days early², and doesn’t charge a monthly fee.

What We Don’t Like

This account earns no interest on balances.

Who It’s Best For

The Chime checking account is a good option for individuals with bad credit who want to open a checking account with easy approval.

• Fee-free overdraft up to $200 for eligible members¹
• Set up direct deposit through Chime and get paid up to two days early
• More than 50,000 surcharge-free ATMs*

Chime is a financial technology company, not a bank. Banking services provided by The Bancorp Bank, N.A. or Stride Bank, N.A., Members FDIC.

¹SpotMe® for Credit Builder is an optional, no interest/no fee overdraft line of credit tied to the Secured Deposit Account; SpotMe on Debit is an optional, no fee service attached to your Chime Checking Account (individually or collectively, “SpotMe”). Eligibility for SpotMe requires $200 or more in qualifying direct deposits to your Chime Checking Account each month.
Qualifying members will be allowed to overdraw their Chime Checking Account and/or their Secured Deposit Account up to $20 in total, but may be later eligible for a higher combined limit of up to $200 or more based on member’s Chime account history, direct deposit frequency and amount, spending activity and other risk-based factors. Your SpotMe Limit will be displayed to you within the Chime mobile app. You will receive notice of any changes to your SpotMe Limit. SpotMe for Credit Builder and SpotMe on Debit share a single SpotMe limit. Your SpotMe Limit may change at any time, at Chime or its banking partners’ discretion. Although there are no overdraft fees, there may be out-of-network or third party fees associated with ATM transactions or OTC cash withdrawal fees at retailers. SpotMe won’t cover non card transactions, including ACH transfers, Pay Anyone transfers, or Chime Checkbook transactions. SpotMe Terms and Conditions.

²Early access to direct deposit funds depends on the timing of the submission of the payment file from the payer. We generally make these funds available on the day the payment file is received, which may be up to 2 days earlier than the scheduled payment date.

*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.

Once the retailer accepts your cash, the funds will be transferred to your selected Chime Account. Barcode and debit card cash deposits land in the Checking Account. Credit Builder card cash deposits first go through your Card Account and then land in your Secured Account. Cash deposit fees may apply if using a retailer other than Walgreens and Duane Reade.

The Current Savings account offers savings pods that can be set up to earn interest. With this account, you can earn up to a 4% annual bonus on your savings.

Setting up an account is simple and requires basic information: SSN, U.S. residential address and a smartphone that can receive text messages. Current does not run a credit check or review your banking history when you apply for a new account.

Why We Like It

This account offers the opportunity to earn up to a 4% annual bonus on balances and is fee-free.

What We Don’t Like

Current charges a fee of $3.50 for each cash deposit into your account.

Who It’s Best For

Current is a good option for individuals who want a bank account that’s easy to open, earns a bonus on balances, offers savings features and doesn’t charge fees.

• Earn 0.25% or 4.00% on a portion of balances up to $2,000 per savings pod up to $6,000 total. To earn 4.00%, the sum of your eligible payroll deposits over a rolling 35-day period must be $500 or more, with at least one deposit equaling a minimum of $200.
• Set up direct deposit and get up to a $750 paycheck advance
• Earn points, which can be redeemed for cash back, by making food and grocery purchases

The Capital One 360 Checking Account can be opened in as little as three minutes and has no pesky fees. When you open an account, Capital One may request a consumer credit report, but is one of the best banks that don’t use ChexSystems.

Why We Like It

We like that Capital One offers an extensive network of over 70,000 fee-free ATMs, making it convenient and easy to access your cash.

What We Don’t Like

This account earns an APY of 0.10%, which is lower than some other interest-earning checking accounts.

Who It’s Best For

This account is best for individuals who want an extensive ATM network to access their cash quickly.

• Get paid up to two days sooner with early direct deposit feature
• Overdraft protection options: auto-decline, free transfer, no fee overdraft
• Earn $250 bonus offer by opening a new account with code CHECKING250 and set up and receive at least two direct deposits, each of $500 or more, within 75 days of account opening

The application process for opening an Ally Bank Spending Account is straightforward and takes around two to three minutes if you have the required documentation at hand. Ally, one of Forbes Advisor’s picks for the top online banks, looks at your credit information when you open an account, but this won’t affect your credit score.

This account offers several features aimed at helping you track spending and budget your money.

Why We Like It

We like that this account offers savings buckets to help organize your money and spending roundups to help maximize your savings.

What We Don’t Like

Ally doesn’t allow cash deposits.

Who It’s Best For

The Ally Bank Spending Account is a good option for those looking for a robust banking app.

• Spending buckets help you allocate money for future expenses
• Receive up to $10 per statement cycle for fees charged at ATMs nationwide
• Automatic transfer of funds from savings accounts should you accidentally overdraft
• CoverDraft provides up to $250 in overdraft protection. Qualify by depositing $100 or more into your spending account. Up your coverage to $250 if you set up and receive a qualifying direct deposit of at least $250 for two months in a row.

The U.S. Bank Safe Debit Account, a second-chance checking account, is a good option for individuals with a poor banking history who may not qualify for a traditional checking account. You can easily apply for the account online in a matter of minutes and get started with a minimum deposit of $25.

Why We Like It

We like that this account offers additional tools to track your credit score and monitor your spending.

What We Don’t Like

This account carries a monthly maintenance fee that’s not waivable, and it doesn’t earn interest.

Who It’s Best For

Because it is a second-chance checking account, it’s best for individuals who don’t qualify for a standard checking account.

• Monthly maintenance fee of $4.95
• Mobile app with goal planning, money tracking and free credit reporting features

Revolut offers a solid all-in-one mobile app that allows you to conveniently manage your money, featuring tools like automatic savings, savings roundups and investment options. You’ll have the option to choose between Standard, Premium and Metal plans.

To open an account, you’ll need to provide your phone number, email address, personal details (date of birth, address, etc.), government-issued documentation and a selfie. You can provide a U.S. Visa instead of an SSN or ITIN.

Why We Like It

We like that this account allows users to earn Up to 3.50% APY, depending on which plan they choose.

What We Don’t Like

The Premium ($9.99/month) and Metal ($16.99/month) plans charge hefty monthly fees.

Who It’s Best For

Revolut is best for consumers who want an all-in-one app to manage their finances and who are willing to pay an annual fee in order to earn a higher APY.

• Standard account earns 2.75% APY; Premium and Metal plans Up to 3.50% APY
• No-fee currency exchange in 25+ currencies up to $1,000 for Standard accounts, $10,000 for Premium accounts and unlimited for Metal accounts.
• Premium and Metal plan members receive priority customer support