How to Open a Checking Account With No Deposit

Open an account without a deposit.

Virtually all banks require a deposit to open a checking account. However, there are a few banks and credit unions that allow customers to open an account online and then deposit money later. The client immediately gets an account number and routing number and can use this to establish direct deposit. Clients can also mail a deposit later or visit a branch and making a deposit.

Instructions

1. Visit SunTrust's online banking website. Select the Free Checking account, which has no minimum opening balance. You also do not need to have a minimum balance maintained to keep the fee-free checking account.

2. Fill out the SunTrust online application, giving personal information such as your name, address, phone number, Social Security number and date of birth. You will also be asked to provide a driver's license or state identification card number and expiration date. Once the form is complete, you will immediately receive a routing number and checking account number. You can use these to establish direct deposit, visit a SunTrust branch or mail a deposit. You usually have about 30 to 60 days before your account will be closed if you do not use it. Once you have a balance in your checking account, SunTrust will mail you free checks and a Visa debit card.

3. Visit Wells Fargo's online banking website. Select the checking account product of your choice. Available options will depend on your state of residence.

4. Fill out the Wells Fargo online application completely. You will be asked how you wish to make your $100 minimum opening deposit. You can choose between a credit card, electronic banking draft, visiting the branch or mailing in a deposit. You will receive your routing and checking account numbers immediately and you could use these to get direct deposit into the account. Wells Fargo usually allows about 30 days for you to make the opening deposit and in most cases you could take the money right back out and still have the checking account active. Once you have funds in your new account, Wells Fargo will send you a debit card if you are eligible.

Tips & Warnings

• Remember that while you can open a checking account without upfront money, you will eventually have to get some funds in the account to avoid account cancellation.

Resources

• Read this Article in Spanish
• SunTrust