Best Online Bank Accounts With Instant Debit Cards

Benzinga's choice for the best online bank account with instant debit card access is Chime. For first timers, Current is best for providing credit building features.

Once you open an account, you want to start enjoying the perks. But most banks give you a 10-day window to receive your debit card in the mail. Now, with online banks, you can get access to an instant debit card to avoid that painful wait for one to be delivered to your front door. When you need a debit card now, use Benzinga’s list to find an online bank account with an instant debit card.

Quick Look: Best Online Bank Accounts With Instant Debit Cards

• Best for No Credit Checks: Chime
• Best for Corporate Debit Cards: Zil
• Best for Multiple Cards: Revolut
• Best for Credit Building Features: Current
• Best for Foreign Spending: Wise

The 5 Best Online Bank Accounts With Instant Debit Cards

We found 5 leading online banks that issue virtual debit cards when you complete your account setup. Here’s a look at how these accounts work and why you might consider them.

1. Best for No Credit Checks: Chime

Chime offers many outstanding features for your banking needs. First, you won’t have a minimum account balance, so you can open your account and get started no matter how much money you have. If you’re getting started with minimal funds, you won’t pay monthly fees, and there’s no requirement to have a certain credit score to qualify for the account because there are no credit checks.

When you open your account, you’ll get access to a Visa debit card. You can also add a savings account to your online bank if you want one. Enjoy great digital resources like mobile check deposits. Use real-time transaction alerts to monitor your finances easily. Chime also offers a credit builder card, a secured credit card that can help you improve your credit score with responsible use.

If anything happens with your digital Visa debit card, you can freeze it instantly in the mobile app. The card is compatible with Apple Pay and Google Pay.

Why We Love It: No minimum balance, monthly fee or credit check makes this an attractive banking option. For those looking to build their credit, adding a Chime credit builder card is attractive.

2. Best for Corporate Debit Cards: Zil

When you need a business account with multiple corporate debit cards, Zil is the platform of choice. You can easily track and manage employee spending because each team member gets their own card and the transactions are assigned to them for better budgeting accountability. The best part is, you don’t have to wait around for your corporate cards to arrive. You can start using them right away.

Zil isn’t just for businesses though. Anyone can open an account and get access to an instant debit card. Use your account to wire transfer, mail checks or complete ACH transactions. All online checking accounts can have a virtual debit card upon opening.

Why We Love It: Zil offers leading business debit card features to help you equip your staff with a way of spending for business purposes. Its instant debit card access and bank accounts with minimal fees are simple to set up and use.

3. Best for Multiple Cards: Revolut

Revolut is not necessarily a bank account, meaning you don’t want to use it as where you store your funds and accept your paychecks but it is a good money management app. You can transfer funds, pay friends and complete international transactions using Revolut.

The best perk is that you can easily create a virtual card with options for single-use or multiuse. If you’re worried about the security of your card details, a single-use card might be a wise move. It makes the card disposable, a unique feature of this account.

Have multiple cards to select how and where you use each one. Freeze the cards when you aren’t using them and unfreeze them instantly in the app. 

The account has good security features, including multifactor authentication and transaction verification.

Why We Love It: The option to create multiple virtual cards at once makes this a unique service. Enjoy access to single-use cards for use at merchants where you are concerned about card security.

4. Best for Credit Building Features: Current

When you need a bank account with a solid debit card, Current is a great option due to its minimal fees and quality service. You’ll get free in-network ATM withdrawals and overdraft protection up to $100. However, it isn’t the best debit card to use internationally due to high foreign currency exchange fees.

Individuals looking to improve their credit scores can sign up for a credit builder card, which offers tools to help them avoid debt and start a path toward improved finances.

Why We Love It: The credit builder card has some great features for those looking to improve their credit score and get on a path toward financial freedom. The fee-free banking is an attractive option for those who want worry-free access to their money.

5. Best for Foreign Spending: Wise

For those who love to travel abroad, Wise is a smart account to open. The account makes it simple to spend using various currencies, shop on international websites, or complete international money transfers if you have a loved one in another country.

To get started, you don’t need a certain amount of money for a deposit and there are no minimum balance requirements. With no monthly maintenance fees and the ease of using the virtual card in Apple Pay, Google Pay, Samsung Pay, Garmin Pay and Fitbit Pay, access to your card is simple.

Why We Love It: The option to use your funds internationally and complete currency exchanges directly in the account is unique. It’s one of the simplest solutions to banking abroad.

How to Find the Best Online Bank Accounts With Instant Debit Cards

As you review the best online bank account with instant virtual debit card options, review these tips for finding the best card based on your needs.

1. Security: You want to know that your online bank will protect your money and identity. Look for banks with robust security, including fraud protection and 2-factor authentication. 
2. Digital debit card tools: Manage your card from anywhere with the best digital debit card tools. Apps that allow you to stop your debit card with the click of a button are attractive to minimize the impacts of card loss or fraud suspicions.
3. Ease of use: Look for a virtual card that is immediately accessible and accepted at many retailers. Ideally, you also want to be able to add the card to multiple devices.
4. Fees: The best online banks are transparent about their fees. Look for an account with minimal fees to avoid giving away your hard-earned money because you don’t meet a requirement or lose track of spending and overdraft by mistake.

How to Set Up Virtual Debit Card

Setting up your instant debit card is simple. Follow these steps to begin using your virtual card.

1. Open an online account: Pick the best bank account with a virtual debit card from the list and get started with the online bank. Most accounts only require personal information, such as your Social Security number, name and address to get started, making this step only take a few minutes.
2. Get verified: Once you submit your personal details, the online bank will need time to verify you. The time it takes varies, but plan for a few days just in case.
3. Access your account: You’ll then have access to your account where you can see your virtual card details. 
4. Add details to your smartphone’s pay app: Input your virtual card’s information to your smartphone’s pay app to begin tapping your phone to use the card anywhere digital payments are accepted. 

Pros and Cons of Bank Accounts with Instant Virtual Debit Cards

If you're considering online bank accounts to access a virtual debit card, review these pros and cons before signing up for an account and using your digital card.

Pros

• No waiting for your debit card to arrive in the mail
• Clear, simple money management
• Added security with one-time-use cards
• No hidden fees or annual fees like on credit cards
• Foreign currency exchanges to use the card internationally

Cons

• Limited use with retailers that accept digital card payments and online transactions
• You can only spend as much as you have in your bank account, requiring more vigilance than a credit card

Start Using Your Debit Card Today

Online banks that provide an instant-issue debit card for virtual use make it easy to use it immediately. You won’t be left waiting for the card to arrive on your doorstep 10 business days from now. Plus, virtual cards offer greater benefits of freezing the card if you suspect fraud and some provide single-use card numbers to reduce the chances of account fraud.

Frequently Asked Questions