Best Neobanks [2025]: Online Banks for an Online Age

SoFi® began as a student loan company but has since expanded into banking services. SoFi® automatically provides you with both checking and savings accounts when you sign up and qualify with its SoFi Checking and Savings product.

The SoFi savings account comes with a relatively high APY rate of up to 4.30% on Savings (3.60% APY¹ <p>New and existing Checking and Savings members who have not previously enrolled in Direct Deposit with SoFi are eligible to earn a cash bonus of either $50 (with at least $1,000 total Eligible Direct Deposits received during the Direct Deposit Bonus Period) OR $300 (with at least $5,000 total Eligible Direct Deposits received during the Direct Deposit Bonus Period). Cash bonus will be based on the total amount of Eligible Direct Deposit. If you have satisfied the Eligible Direct Deposit requirements but have not received a cash bonus in your Checking account, please contact us at 855-456-7634 with the details of your Eligible Direct Deposit. Direct Deposit Promotion begins on 12/7/2023 and will be available through 1/31/2026. Full terms at <a href="https://www.sofi.com/banking/" >sofi.com/banking</a>. SoFi Checking and Savings is offered through&nbsp;SoFi Bank, N.A., Member FDIC.</p><p>SoFi members with Eligible Direct Deposit can earn 3.60% annual percentage yield (APY) on savings balances (including Vaults) and 0.50% APY on checking balances. There is no minimum Eligible Direct Deposit amount required to qualify for the 3.60% APY for savings (including Vaults). Members without Eligible Direct Deposit will earn 1.00% APY on savings balances (including Vaults) and 0.50% APY on checking balances. Interest rates are variable and subject to change at any time. These rates are current as of 11/12/25. There is no minimum balance requirement. Additional information can be found at <a href="http://www.sofi.com/legal/banking-rate-sheet">http://www.sofi.com/legal/banking-rate-sheet</a>.</p> with +0.70% APY Boost) for 6 Months on new accounts with eligible direct deposit; terms apply² <p>Earn up to 4.30% Annual Percentage Yield (APY) on SoFi Savings with a 0.70% APY Boost (added to the 3.60% APY as of 11/12/25) for up to 6 months. Open a new SoFi Checking &amp; Savings account and enroll in SoFi Plus by 1/31/26. Rates variable, subject to change. Terms apply at <a href="https://www.sofi.com/banking/#2">sofi.com/banking#2</a>. SoFi Bank, N.A. Member FDIC.</p> , while the SoFi checking account earns an APY of 0.50% with direct deposits.¹⁵ <p>Annual percentage yield (APY) is variable and subject to change at any time. Rates are current as of 1/24/25. There is no minimum balance requirement. Fees may reduce earnings. Additional rates and&nbsp;information can be found at <a href="https://www.sofi.com/legal/banking-rate-sheet">https://www.sofi.com/legal/banking-rate-sheet</a></p>

SoFi® provides a slew of additional features when you bank with them. You'll pay no monthly maintenance fees, no ATM fees for in-network withdrawals¹⁶ <p>We’ve partnered with Allpoint to provide you with ATM access at any of the 55,000+ ATMs within the Allpoint network. You will not be charged a fee when using an in-network ATM, however, third-party fees incurred when using out-of-network ATMs are not subject to reimbursement. SoFi’s ATM policies are subject to change at our discretion at any time.</p> , and no overdraft fees¹⁷ <p>Overdraft Coverage is limited to $50 on debit card purchases only and is an account benefit available to customers with Eligible Direct Deposits of $1,000 or more during the current 30-day Evaluation Period as determined by SoFi Bank, N.A.&nbsp; The 30-Day Evaluation Period refers to the "Start Date" and "End Date" set forth on the APY Details page of your account, which comprises a period of 30 calendar days (the "30-Day Evaluation Period"). You can access the APY Details page at any time by logging into your SoFi account on the SoFi mobile app or SoFi website and selecting either (i) Banking &gt; Savings &gt; Current APY or (ii) Banking &gt; Checking &gt; Current APY.&nbsp; Members with a prior history of non-repayment of negative balances are ineligible for Overdraft Coverage.</p> . SoFi is a Member, FDIC. ⁵ <p><b style="font-family: Rubik, -apple-system, BlinkMacSystemFont, &quot;Segoe UI&quot;, Roboto, &quot;Helvetica Neue&quot;, Arial, sans-serif;">SoFi Bank is a member FDIC and does not provide more than $250,000 of FDIC insurance per depositor per legal category of account ownership, as described in the FDIC’s regulations.&nbsp;Any additional FDIC insurance is provided by the SoFi Insured Deposit Program. Deposits may be insured up to $3M through participation in the program. See full terms at&nbsp;<a href="http://sofi.com/banking/fdic/sidpterms">SoFi.com/banking/fdic/sidpterms</a>. See list of participating banks at <a href="http://sofi.com/banking/fdic/participatingbanks">SoFi.com/banking/fdic/participatingbanks</a>.</b></p>

Chime is a financial technology company that offers a refreshingly easy account sign-up process. In just a few minutes, you can complete and submit an application for a checking account. You can also choose to open an optional savings account. Both accounts have no monthly maintenance fees and no minimum balance requirements.

You can access over 50,000 ATMs fee-free with a debit card ²² <p class="">Banking services and debit card provided by The Bancorp Bank N.A. or Stride Bank, N.A., Members FDIC, pursuant to a license from Visa U.S.A. Inc. and may be used everywhere Visa debit cards are accepted.<br></p> that connects to your Chime® Checking Account. You can also take advantage of Chime's get paid early feature ¹⁸ <p> Early access to direct deposit funds depends on the timing of the submission of the payment file from the payer. We generally make these funds available on the day the payment file is received, which may be up to 2 days earlier than the scheduled payment date.</p> by receiving direct deposits to your account.

Chime Savings Account offers an annual percentage yield of 1.00%. Plus, you can set up Round Ups where your debit card purchases get rounded up to the nearest dollar and added to your savings account.²³ <p class="">Round Ups automatically round up debit card purchases to the nearest dollar and transfer the round up from your Chime Checking Account to your savings account.&nbsp;<br></p>

Wealthfront offers a high-yield Cash Account, offering an APY rate of 3.50%. The best part? You don't need to meet any specific minimum to qualify for this rate.

On top of its high APY, Wealthfront has a few unique features that make it a unique option. For starters, you'll get up to $5 million in FDIC coverage via a network of member-FDIC banking partners, substantially higher than the standard $250,000 that banks typically offer.

Wealthfront also conveniently offers banking and investing options in one place, making it a good option for people who don't like to have their money spread between different platforms. While not as wide a range as other options, Wealthfront also gives you access to 19,000 fee-free ATMs. Finally, you'll get these features and more with no monthly maintenance fees.

Varo offers modern-day conveniences, such as the ability to get paid early, a helpful mobile app, and an ATM network of over 40,000 fee-free ATMs. The Varo savings and checking accounts come with no monthly maintenance fees.

Varo's online savings account allows you to earn an APY up to 5.00% (as of 05/27/25), but only on balances of $5,000 or less. Balances above that limit still earn interest but at a lower APY rate.

Varo's savings account also offers you automatic round-ups. This feature automatically rounds up every debit card purchase you make to the nearest dollar and puts the difference into your savings account balance.

Ally's interest-bearing checking has no monthly maintenance fees while providing many useful features. This includes check deposits via its mobile app and access to money transfers via Zelle®. You can earn an APY of 0.10% (as of 10/01/25) on your checking account balance.