Yes, you can have a checking account without a savings account
Banks will open a checking account for you without requiring a savings account. Most banks treat them as separate products, and you can choose to open one, the other, or both. The bank does not bundle them together or force you to maintain both.
That said, some banks offer incentives—like higher interest rates or waived fees—if you link both accounts. These are optional perks, not requirements. You can ignore them and open only what you need.
Key Takeaways
- Banks will open a checking account alone; a savings account is not a prerequisite.
- Some banks offer fee waivers or bonus interest if you open both accounts together, but these deals are optional.
- Online banks and credit unions often have lower minimum balances and fewer fees than traditional banks, whether you open one account or two.
- If you do not plan to save money regularly, a checking account alone is a practical choice and will not cost you anything extra.
Why banks sometimes push both accounts together
Banks profit when you keep money with them. A savings account, even with a low interest rate, keeps your balance in their system longer. When you open both accounts at once, the bank gets more of your money and more opportunities to sell you other products.
Many banks advertise "package deals"—open checking and savings together, get $100 or waived monthly fees for three months. These promotions are designed to make opening both accounts feel like the obvious choice. In reality, they are marketing tactics, not requirements.
If you do not need a savings account, you do not need to open one to get the bonus. You can open the checking account alone and skip the incentive. The checking account itself will work exactly the same way.
What happens if you only use checking
A checking account is built for spending: you get a debit card, checks, online bill pay, and the ability to move money in and out frequently. You can deposit paychecks, pay bills, withdraw cash, and send money to other people without a savings account attached.
The only limitation is that checking accounts typically earn little to no interest on your balance. If you keep $5,000 in a checking account, it will sit there earning almost nothing. A savings account would earn a small amount of interest—usually 4% to 5% annually at online banks right now, though this varies. If you do not plan to keep money sitting in the account, this does not matter.
Some checking accounts charge monthly fees if you do not maintain a minimum balance. If you keep your checking account active—making regular deposits and withdrawals—many banks waive the fee. Read the fee schedule before you open the account so you know what to expect.
Banks and credit unions that do not require a savings account
Nearly every bank in the United States will open a checking account without a savings account. This includes large national banks like Chase, Bank of America, and Wells Fargo, as well as smaller regional banks and online banks.
Credit unions also open checking accounts alone. If you are a member of a credit union, you can ask to open a checking account without a savings account. Some credit unions require you to open a share account (their version of a savings account) to become a member, but once you are a member, you can choose which accounts to maintain.
Online banks like Ally, Charles Schwab, and Discover often have no monthly fees and no minimum balance requirements on checking accounts, which makes them a good choice if you want checking alone without worrying about fee traps.
How to open a checking account without a savings account
The process is straightforward. Visit the bank's website or walk into a branch and tell them you want to open a checking account. They will ask for your Social Security number, a government-issued ID, and proof of address. Some banks also run a check on ChexSystems, a banking history database, to see if you have had problems with accounts in the past.
When the bank presents account options, select only the checking account. Do not select a savings account option. If the bank's website or form tries to bundle them together, look for a link or button that says "checking only" or "skip this step." If you cannot find it, call the bank and ask them to open checking alone.
You will receive a debit card in the mail within 7 to 10 business days, and your account will be active immediately for online transfers and bill pay. You can start using the account as soon as it is open.
When a savings account might make sense anyway
Even if you do not think you need a savings account, there are a few situations where opening one alongside checking is practical. If your bank offers a high interest rate on savings (4% or higher), keeping even $1,000 there earns you $40 to $50 per year with no work. If you receive a bonus for opening both accounts, the bonus might be worth more than the interest you would earn.
A savings account also creates a mental barrier between money you spend and money you are keeping. Some people find it easier to avoid dipping into savings if it is in a separate account. If you struggle with overspending, this separation can be useful.
If you think you might want to save money in the future but do not want to open an account now, you can always open a savings account later. There is no penalty for opening accounts at different times, and you can link them together afterward if you change your mind.
Frequently Asked Questions
Will opening only a checking account hurt my credit score?
No. Opening a checking account does not affect your credit score at all. Banks do not report checking or savings accounts to credit bureaus. Only loans, credit cards, and payment history appear on your credit report.
Can I transfer money from checking to savings later if I open only checking now?
Yes. You can open a savings account at any time, even years later. Once you have both accounts, you can transfer money between them instantly online. There is no penalty for opening accounts separately.
What if the bank refuses to open checking without savings?
This is rare, but if it happens, try a different bank. Credit unions, online banks, and smaller regional banks almost never require both accounts. You have many options, so do not stay with a bank that forces you into a product you do not want.
Do I have to keep a minimum balance in checking if I do not have a savings account?
It depends on the bank. Some checking accounts have no minimum balance requirement. Others require $500 or $1,000 to avoid a monthly fee. Read the fee schedule before you open the account. If you cannot meet the minimum, choose a bank with no minimum requirement.