Have you ever had a bank account with no money in it? That doesn’t mean an empty account; it means an account that has never been funded. Have you ever wondered if this is even possible? It turns out the answer is yes! You can open an account with no money, but there are some things to consider before doing so. Scroll down to learn how much do you need to open a bank account.
Keep an eye out for promotions.
With no balance these days, it’s hard to find a bank that will let you open an account. But if you’re diligent about your search, some banks will still allow you to sign up for an account with no minimum deposit. Usually, these banks will also offer bonuses and promotions to sweeten the deal.
If you want to maximize your savings potential (and who doesn’t?), keep an eye out for promotions like signup bonuses and introductory interest rates. Banks love offering these types of deals because they attract new customers and give them another reason to stay loyal once the initial promotion expires—it’s in their best interests!
Take advantage of the ATM network.
If you’re on a budget, it’s also a good idea to take advantage of the ATM network. You can use ATMs to deposit money and check your balance. Many ATMs will even allow you to withdraw money from other accounts without fees. This is an excellent way for someone with no bank account balance to get some cash back into their pocket.
With the right tools and information, you can set up an account that allows you to start saving money today!
Make a deposit when you can.
You don’t have to make a deposit immediately but consider it.
- You can go into the bank with cash or use your debit card at an ATM and add funds.
- If you have access to a computer or tablet, you could also make a deposit online.
The good news is that this process is quick and easy, and there’s no need for any paperwork! Credit cards are accepted by some banks when making deposits online, but not all of them (so be sure to check before depositing using your credit card). However, most banks accept debit cards—which means that if you’re running on empty financially because of unexpected expenses, nothing stops you from starting up a new checking account right away! “If you’re funding your new account online, you’ll need to give the new bank the routing number and account number for where the money will be coming from,” says SoFi experts.
Open an account with a virtual bank on your phone.
If you’re looking to start using a bank account but need more cash on hand, consider opening an account with a virtual bank like Simple or Moven. These financial institutions operate using your phone and allow you to set up direct deposit, receive payments in real-time and even pay bills with just the touch of a few buttons.
Having a backup plan for your bank account is always a good idea, and these tips will help you be prepared. Even if you don’t need an emergency fund or other savings account right now, keep these tips in mind for the future so that you can access them when needed without worrying about falling behind on bills or missing payments due to insufficient funds.