The minimum financial requirement needed to open a bank account depends almost entirely on the bank's account terms and the type of product selected by the customer. Basic savings or checking accounts frequently allow individuals to open an account with a nominal initial deposit, or sometimes zero initial funding if structured as a special digital or student account. However, traditional brick-and-mortar institutions may require an initial opening deposit ranging from a small fixed monetary amount up to substantial sums if the account belongs to a premium tier that mandates maintaining a continuous average daily balance to avoid monthly maintenance fees.