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Banks Offering Online Account Opening

On December 21, 2020, Congress authorized, a $900 billion bipartisan coronavirus relief package to provide assistance to American consumers and businesses struggling as a result of the coronavirus pandemic. A provision of the law includes sending government payments to eligible individuals. The fastest and most secure way for consumers to receive these payments is through a direct deposit from the U.S. Treasury into their checking or savings account.

For those without a deposit account, many banks open accounts for most customers online. While it is not possible to upload your routing information to receive an electronic payment for this round of EIPs, you will be able to cash or deposit your check at your new financial institution instead of using a high-cost check casher.

Following is a partial list of banks that can open an account entirely online, with no need for a customer to visit a branch.

* These accounts can be opened with a zero balance and funded with an Economic Impact Payment.

If your bank wishes to be included in this list, please fill out this short, 5-question survey.