How much do you need to open a new bank account?

When opening a new bank account you’ll need to consider how much the bank requires you to deposit initially, generally referred to as a minimum opening deposit. This amount can vary by bank and credit union. Some banks, for example, may let you open a bank account with no minimum deposit required or a minimum deposit as low as $1.

Do you need a minimum deposit to open a bank account?

A minimum initial deposit: While you can find bank accounts with no minimum deposit requirement, most banks and credit unions require you to deposit a certain amount to open a bank account.

How much money do you need to open a checking account?

You generally must supply your: Opening deposit: Most banks require an initial deposit to open a checking account—usually $25. Initial deposit requirements can be as low as $5 and typically don’t exceed $100. Some banks don’t require any deposit to open a checking account. Which Type of Checking Account Do You Want To Open?