In this article, we will look at US virtual bank accounts that offer innovative banking services, including free multi-currency account, virtual cards, debit and prepaid cards, crypto banking, etc. Customers can access all banking services using their mobile apps or on the web. With this guide, you will know how to open an online US bank account.
Virtual Bank Account USA in a Nutshell
- Most online banks do not have monthly fees and do offer many banking services with zero fees because they have lower operational costs.
- Some of online banks such as Zenus Bank allow you to open a virtual US bank account for non residents (a US bank account without having to visit the US).
- Some of the online banks in the US such as BankProv and Revolut are crypto friendly.
- Best virtual banks in the US include Wise, Juno, formerly OnJuno, Chime and Varo Bank.
Banks in the US use routing numbers made up of 9 digits for identification. They are also known as routing transit numbers, ABA routing numbers, or RTNs. Therefore, just like traditional banks, the banks listed below offer virtual bank account with routing number.
Virtual Bank Account USA
Can I create a US bank account online? There are many banks in the US that offer virtual bank accounts for US residents and even non residents. If you meet their requirements, then you can get a US bank account online instantly. We have listed banks that you can open a virtual bank account.
Can I open a bank account in US as a non resident? Can a foreigner have a US bank account? Yes, you can create a US online bank account for non residents with banks such as Zenus without proof of residency. Read our full review of online banks for non residents in the US.
Wise USA
Wise, formerly TransferWise, is an online bank that offers multicurrency account in the US (except Nevada and Hawaii). You can use Wise to receive, send and spend money. Wise account comes with a physical debit card and virtual card. Wise allows you to hold over 50 currencies and convert them in real-time from one currency to another using real exchange rates.
Wise also provides one of the fastest and cheapest money transfer service for both individuals and businesses around the world. You can use their money transfer services also without the Multi Currency Account. For more information on the international money transfer part, please read: Complete Review of Wise International Money Transfer. Wise routing number for ACH transfers is 084009519.
Wise for e-Commerce Businesses. Wise is now a member of the Amazon payment service provider program, which means that any business selling on Amazon can now officially use Wise to receive their sales earnings in multiple currencies. You can also connect your Wise business account to eBay and Stripe.
How to Open Wise Account
Opening Wise Multicurrency account takes a few minutes. You can sign up for an account using the Wise website or Wise app. You can use an email address, Facebook account, Google, or Apple account to sign up. After that, you need to verify your account using a government ID.
Revolut USA
Revolut is an online crypto friendly bank. In the US, it offers bank accounts in USD, cryptocurrency trading, a MasterCard debit card, a virtual card, money transfer and currency exchange services.
Revolut officially launched in the US in 2020 where it operates in partnership with Metropolitan Commercial Bank (MCB). MCB holds clients’ funds and provides FDIC insurance for up to $250,000. Account holders in the US have access to AllPoint ATMs. Free withdrawals, however, are limited to $300 a month under the standard plan, $600 a month under the premium plan and $900 under Metal plan.
Revolut cryptocurrency service allows you to instantly exchange 29 currencies into Bitcoin, Litecoin, Ethereum, Bitcoin Cash, and Ripple. The bank works with cryptocurrency exchanges such as Coinbase and Bitstamp.
You can receive cryptocurrencies sent by another Revolut user. However, you will not be able to receive cryptocurrencies sent from outside of the Revolut platform, eg. external wallets. This is a closed offering whereby you can buy, sell, exchange, and transfer within the Revolut platform. If you’re a Revolut Metal customer, you’ll get exclusive beta access to a new feature that allows you to withdraw bitcoin to an external crypto wallet.
How to Sign Up for Revolut Account
To sign up for a Revolut account, you first need to download the app for Android or iOS. Then you will be required to provide your name, date of birth, email and home address, and phone number. For identification, you need to take a selfie and an image of your passport. After setting your password, you will receive a six-digit code in phone to confirm your account.
BankProv
BankProv is a crypto friendly online bank in the US that offers checking account for small businesses and bank accounts to cryptocurrency businesses in the US. It also provides crypto backed loans, business credit cards and banking API.
The bank account for crypto businesses is ideal for crypto miners, digital asset issuers, crypto software developers, and Bitcoin ATM companies.
How to Open BankProv Account
To open a BankProv crypto business account, you need to contact the bank first by filling out crypo business prescreen form. The form will require you to provide personal details, describe what type of crypto business you are, and types of services you are interested in.
If you want to open other BankProv business checking accounts, you need to be at least 18 years old legal US resident who owns a US based business. Go to BankProv website, click on Business button, and then Business Checking Products, scroll down to Open Online Now.
Read our full review of BankProv Online Bank Account for Crypto Businesses
Juno
OnJuno, rebranded to Juno, is one of the few banks in the US that offer crypto bank accounts. The online bank offers a traditional Checking Account which is integrated with a crypto wallet. Bank Juno allows you to sell, buy and hold crypto instantly starting from as low as $1. One of its notable features is the ability to receive your paycheck in crypto. As Juno account holder, you will receive a MasterCard Metal card. At the end of each month, Juno reimburses the out-of-network ATM fees as a bonus.
How to Open Juno Account
Being a virtual bank, you can open your account on Juno website by filling in your email address and password. You can also sign up with Google. You will receive a verification email. Verify your email address and fill in your full details including mobile number, home address, and Social Security Number. Official documents needed to vefify your account are drivers license, passport, or any legal identification. Once your account is verified, you can start using your Juno bank account.
Virtual Crypto Banking in the US
Kraken Bank bank plans to launch crypto banking services in the US this ear for individual consumers and businesses. Find out more about crypto friendly banks as well as best bank accounts for cryptocurrency businesses.
Chime Bank
Founded in 2013, Chime offers USA virtual bank account. Its services are offered via a mobile app with zero or reduced fees. For example, the bank does not charge overdraft or maintenance fees. In 2019, the bank was valued at $5.8 Billion.
How to Open Chime Account
Chime offers savings account and the spending account. To open any of the two accounts, you need to download Chime app (Android and iOS) then fill in personal details such as phone number, name, address, Social Security Number, and date of birth. Once approved, you will be able to start transacting.
Adding funds into your account is simple. You can do cash deposit at Green Dot locations, transfer of funds from another bank account that is linked to your Chime account, and digitally depositing a paper check.
What is Chime routing number? To find Chime Bank routing number, Go to the Move Money section of your Chime Account and select Direct Deposit. The name of bank that provides banking services for your Chime Spending Account (Bancorp or Stride Bank), along with the Routing Number and Spending Account Number will be visible on the Direct Deposit screen.
Varo Bank
Varo Bank is a US bank that offers online and mobile banking services with no monthly fees, minimum balance, overdraft fees and over 55k fee-free Allpoint ATMs in in places such as Target, CVS, and Safeway. Moreover, Varo Bank offers you up to $100 cash advance with no interest or fees.
Varo second chance banking: Mistakes happen in banking, like repeated overdrafts and unpaid overdraft fees. But that doesn’t have to take you out of the banking system forever. If you’ve been denied a bank account because of a bad banking history, second-chance banking offers you a way to get back into the banking system.
How to Open Varo Bank Account
You can open Varo account on the website or using Varo app. You will need a US mobile number, a valid driver’s license or passport, and your social security number. To apply via Varo Bank app, simply download the app from the App Store, tap “Get Started,” and follow the prompts to submit your application. It should take you no more than five minutes if you have all your information and required documents.
Payoneer
Payoneer is a US fintech that is used by many freelancers because of its payment service. As a freelancer or online seller, you send a payment request to your customer. They can pay to your Payoneer account using a number of payment methods such as a credit card, debit card, an electronic check, etc. As a US business, you can also pay your international business partners, agencies, contractors and suppliers. Receiving payments via payoneer Global Payment Service in USD is free for US customers.
Payoneer is also used by people outside the US who want to have a non resident US account. For example, if you are in Kenya, India or Japan, Your Payoneer account will have a USD receiving numbers. You can get paid as if you had opened a bank account in the US, but without setting a foot there.
Payoneer offers a working capital solution for eCommerce sellers with Amazon, Walmart, and Wayfair stores. The fintech purchases a part of your future account receivables equivalent to the Capital Advance amount plus a fixed fee (the settlement amount). Once accepted, the Capital Advance funds becomes available instantly.
How to Open Payoneer Account
To open your account, you are required to fill out a personal details and contact details form on the website. The information you give must be accurate and includes your real name, email, date of birth and a real physical address for verification purposes.
You must also attach a copy of your passport or ID card for Payoneer to identify you. After successfully completing all the steps, Payoneer will check the provided details and activate your account within 2-3 working days. Once you receive the confirmation mail, you can proceed for the international MasterCard application. Payoneer will send the MasterCard to your local address.
Ally Bank
Ally Bank is a US virtual bank with no monthly fees or minimum balances on checking, savings, money market and CDs accounts. In addition, the US online bank offers free access to over 43,000 ATMs nationwide. If you use out-of-network ATM in the U.S, Ally will also reimburse you up to $10 per statement cycle for any fees you will be charged using.
How to Open Ally Bank Account
To open an account with Ally Bank, you need to apply on Ally Bank website. You can also open Ally Bank account over the phone 24/7 or by downloading Ally application form and mailing it in. You will need to enter your personal details and documents for identity verification. When your account is approved, you can go ahead and fund it by direct deposit, mobile check deposit, a wire transfer or sending a check by mail.
Axos Bank
Axos Bank is an online bank in the US offering 7 types of accounts including checking accounts, high-yield savings accounts, teen checking account, lending products, business accounts and investment portfolios. Axos Bank accounts have low to no monthly maintenance feesAxos was launched in 2000 under the name Bank of Internet USA.
How to Open Axos Bank Account
Open your account by going to Axos website, choose the account you want to open, personal or business account. Then click on ‘Get Started.’ To open your Axos account successfully, you need Social Security Number, a valid Driver’s License or State ID card or passport, a valid U.S. address (not a post office box). You must be a U.S. citizen or legal resident and 18 or older to open an account unless you are opening a Teen Checking account.
ETrade
ETrade is an American fintech that offers virtual banking solutions as well as online brokerage to trade financial assets. The bank is ideal for people who want to open integrated account for both investing and checking/savings accounts.
How to Open ETrade Account
With ETrade, you can open your bank and brokerage accounts online, by phone or mail. You will need to submit personal details such as address, name, Social Security Number, etc. If you are opening your account by mail, you have to dowload application form, print it out and fill in the required information before mailing it.
Once you have successfully opened your account, you will be able to fund your account via electronic money transfer, check, wire transfer or transfering your account from another institution.
What is ETrade routing number? ETrade routing number is 256072691.
N26 USA
N26 bank is no longer available in the US. The bank has decided to leave the US market. N26 launched in the US in July 2019 but it stopped offering banking services in America in January 2022 to concentrate on European market.
N26 launched free virtual bank account US on July 11, 2019. The bank has no monthly service fees, no insufficient funds fees, no foreign transaction fees, no maintenance fees and no minimum balance requirement.
With N26 virtual USA bank account, account holders get unlimited free ATM withdrawals at over 55,000 Allpoint locations across the US, Canada, Puerto Rico, Australia, Mexico, and the UK. With its MoneyBeam money transfer service, you to send money to (or receive money from) other N26 account holders for free. Moreover, N26 will let you get paid up to two days early if you get paid via direct deposit. N26 does not have full-fledged banking license in the US. The company operates in the US through a partnership with Axos Bank, meaning your money is FDIC-insured.
How to Register for N26 Account
First, they make opening an account easy. With video identification, there is little to no stress involved regarding the sign-up. If you a human with a national ID or passport, you can get an N26 account in the United States or in Europe.
Registration for N26 is done online. You need to provide personal information such as name, date and place of birth, address, tax ID, and phone number. You will verify your identity with a video verification with a government-issued ID or passport.
Simple
Simple announced in January 2021 that it is ceasing operation. Following the decision to shut down, the virtual bank has told customers that their accounts will remain in FDIC insured accounts at BBVA USA, its parent bank.
Simple (formerly BankSimple) is an American virtual bank founded in 2009 by Alex Payne, Joshua Reich and Shamir Karkal. The bank offers a US virtual checking account through a partnership with BBVA USA bank, meaning the funds in your account are held by the partner bank. It also offers surcharge-free access to around 55,000 ATMs using Simple Visa debit card.
How to Open Simple Bank Account
Being a virtual bank, opening a Simple account is done entirely online. Needed information includes name, address, phone number, email address, date of birth, and social security number. During the verification process, the bank may ask for additional documents. Once your account is approved, you can apply for your debit card. The card will come through the mail with instructions on how to activate it. Funding your account is simple. It can be done via a bank transfer, direct deposit and checks. Checks are deposited using photo check deposit on Simple iOS and Android apps.
Conclusion
Virtual banks are becoming very popular because of convenience and lower charges. Having no physical presence and small staff allows virtual bank to offer some banking services with no fees at all. If you are a US citizen or legal resident, the banks listed above offer you the ability to conduct banking transactions from the comfort of your home or office.