There are different minimum balance requirements depending on the type of bank and account. Online bankĪ minimum balance requirement is the smallest amount of money you must have in your bank account to avoid fees or other penalties. See how Chime compares to other options below. In fact, online-only banks often don’t have account opening deposit requirements or minimum balance requirements, which is a dream come true for many.Ĭhime is an excellent example of a no-nonsense, no-minimum-balance, and no-initial-deposit account you’ll love. Online banks, on the other hand, operate with much lower overhead and can offer the types of accounts you need. Brick-and-mortar banks usually have high overhead and need clients to make deposits to keep the business going.
Traditional banks probably won’t cut it if you want to open a bank account without depositing cash.
