Best Online Banks of [2026]: Don’t Settle for Digital Duds

Online banking is more than a convenience. It's a way to earn more interest and save on fees, while also getting access to great digital banking features like savings buckets, cash back opportunities, and electronic transfers.

There are many online banks and companies we often recommend, but only a few that are truly the best for digital banking, thanks to their easy-to-use mobile and online platforms, competitive APYs, and neat tools that make it easier to organize your money and save for goals. See which online bank is the best fit for your financial future.

Limited-Time Offer

AWARD WINNER Best Online Checking

SoFi Checking and Savings

5.0

FinanceBuzz writers and editors score products and companies on a number of objective features as well as our expert editorial assessment. Our partners do not influence our ratings.

Learn More on SoFi's secure website, Member FDIC

Bonus Offer

Up to $300 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 12/31/2026. Full terms at sofi.com/banking. SoFi Checking and Savings is offered through SoFi Bank, N.A., Member FDIC.SoFi members with Eligible Direct Deposit can earn 3.30% 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 3.30% 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 12/23/25. There is no minimum balance requirement. Fees may reduce earnings. Additional information can be found at http://www.sofi.com/legal/banking-rate-sheet.

Minimum Opening Balance

$0

Monthly Fee

$0

Why We Like It

• Earn a $50 or $300 bonus with eligible direct deposit¹ <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 12/31/2026. Full terms at <a href="https://www.sofi.com/banking/">sofi.com/banking</a>. SoFi Checking and Savings is offered through SoFi Bank, N.A., Member FDIC.</p><p>SoFi members with Eligible Direct Deposit can earn 3.30% 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 3.30% 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 12/23/25. There is no minimum balance requirement. Fees may reduce earnings. Additional information can be found at&nbsp;<a href="http://www.sofi.com/legal/banking-rate-sheet">http://www.sofi.com/legal/banking-rate-sheet</a>.</p> and up to 4.00% APY² <p>Earn up to 4.00% Annual Percentage Yield (APY) on SoFi Savings with a 0.70% APY Boost (added to the 3.30% APY as of 12/23/25) for up to 6 months. Open a new SoFi Checking and Savings account and pay the $10 SoFi Plus subscription every 30 days OR receive eligible direct deposits OR qualifying deposits of $5,000 every 31 days by 3/30/2026. Rates variable, subject to change. Terms apply at&nbsp;<a href="https://www.sofi.com/banking/#2">sofi.com/banking#2</a>. SoFi Bank, N.A. Member FDIC.</p> on your money
• Limited-Time Offer: +0.70% Boost on Savings APY to up to 4.00% for up to 6 months on new accounts. Terms apply.² <p>Earn up to 4.00% Annual Percentage Yield (APY) on SoFi Savings with a 0.70% APY Boost (added to the 3.30% APY as of 12/23/25) for up to 6 months. Open a new SoFi Checking and Savings account and pay the $10 SoFi Plus subscription every 30 days OR receive eligible direct deposits OR qualifying deposits of $5,000 every 31 days by 3/30/2026. Rates variable, subject to change. Terms apply at&nbsp;<a href="https://www.sofi.com/banking/#2">sofi.com/banking#2</a>. SoFi Bank, N.A. Member FDIC.</p>
• No account, overdraft, or monthly fees³ <p>We do not charge any account, service or maintenance fees for SoFi Checking and Savings. We do charge a transaction fee to process each outgoing wire transfer. SoFi does not charge a fee for incoming wire transfers, however the sending bank may charge a fee. Our fee policy is subject to change at any time. See the SoFi Checking & Savings Fee Sheet for details at <a href="http://sofi.com/legal/banking-fees/">sofi.com/legal/banking-fees/</a></p>
• Get your paycheck up to two days early with direct deposit⁴ <p>Early access to direct deposit funds is based on the timing in which we receive notice of impending payment from the Federal Reserve, which is typically up to two days before the scheduled payment date, but may vary.</p>
• Access additional FDIC insurance up to $3 million⁵ <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>

Learn More on SoFi's secure website, Member FDIC

Compare top-rated online banks for March 2026

Bank	Best for	Ratings	ATM availability
SoFi®	Convenience	BBB: A+ Trustpilot: 4.1/5 Mobile app: 4.7/5 on App Store, 3.9/5 on Google Play	55,000+ Allpoint ATMs6 <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 may be incurred when using out-of-network ATMs. SoFi’s ATM policies are subject to change at our discretion at any time.</p>
Capital One	Banking from a mobile app	BBB: A+ Trustpilot: 1.2/5 Mobile app: 4.9/5 on App Store, 4.5/5 on Google Play	70,000+ Capital One, MoneyPass, and Allpoint ATMs
Ally Bank	Savings goals	BBB: A+ Trustpilot: 1.4/5 Mobile app: 4.7/5 on App Store, 4.4/5 on Google Play	75,000+ Allpoint and MoneyPass ATMs
Quontic Bank	High checking account balances	BBB: A+ Trustpilot: 3.9/5 Mobile app: 4.8/5 on App Store, 4.8/5 on Google Play	90,000+ AllPoint, MoneyPass, SUM, and Citibank ATMs
Varo	Second-chance banking	BBB: A Trustpilot: 4.2/5 Mobile app: 4.9/5 on App Store, 4.6/5 on Google Play	40,000+ Allpoint ATMs
Axos Bank	Personalized checking accounts	BBB: A+ Trustpilot: 3.8/5 Mobile app: 4.7/5 on App Store, 4.6/5 on Google Play	91,000+ Allpoint and MoneyPass ATMs

SoFi

2026 AWARD WINNER Best Online Checking

5.0

FinanceBuzz writers and editors score products and companies on a number of objective features as well as our expert editorial assessment. Our partners do not influence our ratings.

SoFi Checking and Savings

Earn Up to $300 When You Set Up Direct Deposit

Limited-Time Offer: Earn a $50 or $300 bonus with eligible direct deposit and up to 4.00% APY on Savings (3.30% 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 12/31/2026. Full terms at <a href="https://www.sofi.com/banking/">sofi.com/banking</a>. SoFi Checking and Savings is offered through SoFi Bank, N.A., Member FDIC.</p><p>SoFi members with Eligible Direct Deposit can earn 3.30% 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 3.30% 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 12/23/25. There is no minimum balance requirement. Fees may reduce earnings. Additional information can be found at&nbsp;<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 up to 6 months on new accounts. Terms Apply.² <p>Earn up to 4.00% Annual Percentage Yield (APY) on SoFi Savings with a 0.70% APY Boost (added to the 3.30% APY as of 12/23/25) for up to 6 months. Open a new SoFi Checking and Savings account and pay the $10 SoFi Plus subscription every 30 days OR receive eligible direct deposits OR qualifying deposits of $5,000 every 31 days by 3/30/2026. Rates variable, subject to change. Terms apply at&nbsp;<a href="https://www.sofi.com/banking/#2">sofi.com/banking#2</a>. SoFi Bank, N.A. Member FDIC.</p> FDIC Insured.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>

Learn More

SoFi® is a digital platform that offers one account that's rewarding and unique enough to earn the whole company a spot on our list. SoFi Checking and Savings accounts pay APYs that are well above average, including an impressive checking APY of 0.50% with direct deposit (any interest, let alone this much, is hard to come by in online checking accounts).¹ <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 12/31/2026. Full terms at <a href="https://www.sofi.com/banking/">sofi.com/banking</a>. SoFi Checking and Savings is offered through SoFi Bank, N.A., Member FDIC.</p><p>SoFi members with Eligible Direct Deposit can earn 3.30% 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 3.30% 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 12/23/25. There is no minimum balance requirement. Fees may reduce earnings. Additional information can be found at&nbsp;<a href="http://www.sofi.com/legal/banking-rate-sheet">http://www.sofi.com/legal/banking-rate-sheet</a>.</p> You can also earn up to 3.30% with direct deposit on your savings balances.⁷ <p>Annual percentage yield (APY) is variable and subject to change at any time. Rates are current as of 12/23/25. There is no minimum balance requirement. Fees may reduce earnings. Additional rates and information can be found at&nbsp;<a href="https://www.sofi.com/legal/banking-rate-sheet">https://www.sofi.com/legal/banking-rate-sheet</a></p>

If you have at least $1,000 in eligible direct deposits⁸ <p>Eligible Direct Deposit means a recurring deposit of regular income to an account holder’s SoFi Checking or Savings account, including payroll, pension, or government benefit payments (e.g., Social Security), made by the account holder’s employer, payroll or benefits provider or government agency (“Eligible Direct Deposit”) via the Automated Clearing House (“ACH”) Network every 31 calendar days.</p><p>Although we do our best to recognize all Eligible Direct Deposits, a small number of employers, payroll providers, benefits providers, or government agencies do not designate payments as direct deposit. To ensure you're earning the APY for account holders with Eligible Direct Deposit, we encourage you to check your APY Details page the day after your Eligible Direct Deposit posts to your SoFi account. If your APY is not showing as the APY for account holders with Eligible Direct Deposit, contact us at 855-456-7634 with the details of your Eligible Direct Deposit. As long as SoFi Bank can validate those details, you will start earning the APY for account holders with Eligible Direct Deposit from the date you contact SoFi for the next 31 calendar days. You will also be eligible for the APY for account holders with Eligible Direct Deposit on future Eligible Direct Deposits, as long as SoFi Bank can validate them. </p><p>Deposits that are not from an employer, payroll, or benefits provider or government agency, including but not limited to check deposits, peer-to-peer transfers (e.g., transfers from PayPal, Venmo, Wise, etc.), merchant transactions (e.g., transactions from PayPal, Stripe, Square, etc.), and bank ACH funds transfers and wire transfers from external accounts, or are non-recurring in nature (e.g., IRS tax refunds), do not constitute Eligible Direct Deposit activity. There is no minimum Eligible Direct Deposit amount required to qualify for the stated interest rate. SoFi Bank shall, in its sole discretion, assess each account holder's Eligible Direct Deposit activity to determine the applicability of rates and may request additional documentation for verification of eligibility.</p><p>See additional details at https://www.sofi.com/legal/banking-rate-sheet.</p> per rolling 31-day period, you get up to $50 in fee-free overdraft coverage.⁹ <p>Overdraft Coverage is a feature automatically offered to SoFi Checking and Savings account holders who receive at least $1,000 or more in Eligible Direct Deposits within a rolling 31 calendar day period on a recurring basis. Eligible Direct Deposit is defined on the SoFi Bank Rate Sheet, available at <a href="https://www.sofi.com/legal/banking-rate-sheet">https://www.sofi.com/legal/banking-rate-sheet</a>. Members enrolled in Overdraft Coverage may be covered for up to $50 in negative balances on SoFi Bank debit card purchases only. Overdraft Coverage does not apply to P2P transfers, bill payments, checks, or other non-debit card transactions. Members with a prior history of unpaid negative balances are not eligible for Overdraft Coverage. Eligibility for Overdraft Coverage is determined by SoFi Bank in its sole discretion. Members can check their enrollment status, if eligible, at any time by logging into their account through the SoFi app or on the SoFi website.</p> While we don't recommend making a habit of exceeding your balance, this protection is nice to have as a fallback. It's worth noting, however, that many online banks offer higher coverage limits of $100 or even $200. If you get this account, consider setting up automatic roundups on your debit card purchases to save more (and hopefully avoid more overdrafts).

Even though it's not technically a bank, SoFi scores well in independent studies for banking satisfaction. In J.D. Power's 2025 U.S. Direct Banking Satisfaction Study, it scored 710, compared to the study average of 705 for savings providers.

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>

Read more: SoFi® vs. Chime®

Visit SoFi Checking and Savings | Read our SoFi review

Capital One

Capital One's excellent mobile app is just one reason the bank shines, and you should never put up with disappointing apps for online banking. It's user-friendly, offers more helpful reminders and customizations than we typically see, and is one of the best banking apps and online banking platforms we've used. In J.D. Power's 2025 U.S. Online Banking Satisfaction Study, Capital One took the top spot with a score of 685 (beating Chase, Bank of America, U.S. Bank, and the study average of 667).

Capital One 360 Checking is just about as close as you can get to zero-fee checking, and applying for an account takes just minutes. You can even earn a little interest on your checking account balance with the 0.10% (as of 09/15/25), but the 360 Performance Savings account earns a much higher 3.30% APY.¹⁰ <span>A rate of 3.40% Annual Percentage Yield (APY) applies to all account balances. Advertised rates are variable and effective as of 10/01/25. Rates are subject to change at any time before or after account opening.</span> Capital One is also one of the top banks for young adults and offers top-notch banking accounts for kids and teens.

However, Capital One 360 doesn't offer the widest selection of accounts, and some of its accounts lack features like automated savings tools and high-limit overdraft coverage.

Learn more in our Capital One review

Ally Bank

Saving more and spending less is tough, but Ally can support you in reaching your goals with buckets. Think of them like subaccounts for either checking or savings. The spending buckets prevent you from spending funds saved for future expenses, and the savings buckets help you save for individual goals, such as a down payment on a house, alone or with another person in a joint bank account.

Its Spending Account, the bank's only checking account, is so singular and well-loved by its users that Ally scored an above-average 692 in J.D. Power's 2025 U.S. Direct Banking Satisfaction Study for checking providers.

Ally Bank's Savings and Money Market accounts are both high-yield, which can also help your bank account grow. With no monthly fees and mobile deposit capabilities, it's easy to deposit money into your savings or money market accounts and earn interest daily. If you prefer to tie up your money a little longer, it offers some of the highest yields on CDs with options ranging from three months to five years.

Member FDIC.

Learn more in our Ally review

Quontic Bank

If you keep a high balance in your checking account and want your checking to earn some interest, consider banking with Quontic. You can earn up to 1.09% (as of 11/03/25) APY with its High Interest Checking on your balances, which is more than you'll get with the national average rate for interest checking at 0.07% (as of 2/17/26) APY¹¹ <p class="">The product and annual percentage yield (APY) data displayed on this website is gathered from various sources and may not reflect all of the offers available in your area. Although we strive to provide the most accurate data possible, we cannot guarantee its accuracy. Always verify account details and availability with the financial institution before opening an account.<br></p> . You'll need to make at least 10 qualifying transactions of $10 or more each statement cycle to qualify for the rate. Quontic also offers another way to earn rewards for checking account customers by earning 1.0% cash back on all debit card purchases with its Cash Rewards Checking.

If you're also looking for somewhere safe to grow your savings, its High Yield Savings account earns 3.85% (as of 5/9/25) APY and only requires a $100 opening deposit. They also offer a Money Market Account that offers the best of both worlds. You earn a 4.25% (as of 11/03/25) APY, but also get a debit card and check writing privileges with only a $100 opening deposit.

Quontic also offers CDs from three months to five years with high interest rates, giving you the chance to put money away for longer-term goals.

Visit Quontic Bank | Read our Quontic Bank review

Varo

We love that the Varo checking account offers a way to earn up to 6% cash back on debit purchases at select brands nationwide, so you can earn automatic cash back without giving it a second thought. You can earn up to 6% cash back when you spend at retailers like Kohl's, Fanatics, McDonald's, and more. You can also earn cash back if you decide to get a Varo Believe secured credit card. Its checking account has no monthly maintenance fees or minimum balance requirements.

If you have money to save, Varo offers a healthy 5.00% (as of 02/23/26) APY on up to $5,000, so we wouldn't suggest it if you have a large amount of money to save, but it can be good for smaller amounts. Plus, if you have a checking and savings account with Varo, they can round up your purchases to the nearest dollar and transfer the spare change to your savings account. It adds up faster than you think.

Plus, Varo solves the cash deposit problem that most online-only checking accounts face. You can deposit cash at 90,000+ retail locations by using Green Dot Reload, for a fee.

Read our full Varo review

Axos Bank

Axos Bank is another online institution that's made a name for itself with its unique and plentiful checking accounts. While it definitely has more going for it than just checking range, this is our favorite thing about the online bank.

From checking accounts for seniors to options for kids and multiple types of rewards checking accounts, Axos offers more personalized banking than other institutions (and rivals even big banks with its selection).

You can choose an account to fit your needs, rather than being pigeonholed into one or two options. Many online banks provide only one or two of each bank account to choose from, if they even offer more than one product. However, Axos only provides checking and savings accounts.

Read our full Axos Bank review.

Pros and cons of online banks

Online banking offers many benefits, including higher APYs, lower fees, and seamless money management 24/7 with a mobile app. But all of this comes with a tradeoff because you don't have access to physical branches, which for some people can be a downside.

When deciding if online banking is right for you, ask yourself if you're comfortable handling your transactions yourself or with phone support, and if you need to deposit cash often. Those are the two largest downsides of banking online.

We suggest having the best of both worlds, keeping an account at a brick-and-mortar location and also taking advantage of one of the best online banks and its many features.

Featured high-yield savings accounts

5.0

FinanceBuzz writers and editors score products and companies on a number of objective features as well as our expert editorial assessment. Our partners do not influence our ratings.

2026 AWARD WINNER Best Online Checking

Earn Up to $300 When You Set Up Direct Deposit

Limited-Time Offer: Earn a $50 or $300 bonus with eligible direct deposit and up to 4.00% APY on Savings (3.30% 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 12/31/2026. Full terms at <a href="https://www.sofi.com/banking/">sofi.com/banking</a>. SoFi Checking and Savings is offered through SoFi Bank, N.A., Member FDIC.</p><p>SoFi members with Eligible Direct Deposit can earn 3.30% 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 3.30% 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 12/23/25. There is no minimum balance requirement. Fees may reduce earnings. Additional information can be found at&nbsp;<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 up to 6 months on new accounts. Terms Apply.² <p>Earn up to 4.00% Annual Percentage Yield (APY) on SoFi Savings with a 0.70% APY Boost (added to the 3.30% APY as of 12/23/25) for up to 6 months. Open a new SoFi Checking and Savings account and pay the $10 SoFi Plus subscription every 30 days OR receive eligible direct deposits OR qualifying deposits of $5,000 every 31 days by 3/30/2026. Rates variable, subject to change. Terms apply at&nbsp;<a href="https://www.sofi.com/banking/#2">sofi.com/banking#2</a>. SoFi Bank, N.A. Member FDIC.</p> FDIC Insured.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>

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Are online banks safe?

Online banks are often just as safe as brick-and-mortar banks. Digital banks are held to the same cybersecurity standards as other banks under laws such as the Gramm-Leach-Bliley Act of 1999, so a reputable online platform should present no more safety risk than a reputable bank with physical branches.

But as with any institution, it depends on which bank you choose.

To keep your money safe with an online bank, choose institutions and companies with top-notch data security. If a bank has a page or section on its site dedicated to explaining its safety protocols, that's a good sign. You can expect 24/7 fraud monitoring from many banks today, online or brick-and-mortar, and encryption of your personal data is the bare minimum. Trustworthy online banking apps also offer multiple ways to log in, beyond just a password, such as two-factor authentication and facial recognition.

How to choose the best online bank account

Choosing the best checking account or savings account can save you money on fees and help you earn more interest. When trying to decide where to open a new account, consider the following:

• Fees: Look carefully at the fees charged by an online bank. Consider overdraft fees, account maintenance fees, and ATM fees, as they can add up quickly. Also, check for any other fees charged by the bank, such as foreign transaction fees and fees for accessing money from external accounts.
• Minimums to open and maintain an account: Be sure to check the minimum amount needed to open an account, as well as the amount needed to maintain it. You should determine whether there are penalties for falling below the minimum.
• Types of products: Online banks offer a variety of account types and products, so research the accounts offered by each bank you are considering. Gauge whether the various accounts meet your needs and savings goals. For example, some checking accounts focus more on rewards, while others focus on low fees.
• Interest rates: Compare the interest rates offered by different online banks. The higher the interest rate, the more money you'll earn on your balance.
• ATM Access: Make sure the bank has enough ATM access in your area to meet your needs. Additionally, check to see if your preferred accounts offer ATM rebates.
• Mobile check deposits: If you're frequently paid by check, you'll need an account that allows mobile check deposits.
• Electronic transfer options: It's good to know that if you need to send money, you can do so with minimal fees and hassles. Check to see what transfer options an online bank has before opening an account, including whether or not the bank uses Zelle.

4.3

FinanceBuzz writers and editors score products and companies on a number of objective features as well as our expert editorial assessment. Our partners do not influence our ratings.

Enjoy $400 as a new Chase checking customer

When you open a new Chase Total Checking® account with qualifying activities.¹² <p>Offer not available to existing Chase checking customers, or those whose accounts have been closed within 90 days or closed with a negative balance within the last 3 years. You can receive only one new checking account opening related bonus every two years from the last coupon enrollment date and only one bonus per account. Coupon is good for one-time use. To receive the bonus: 1) Open a new Chase Total Checking account, which is subject to approval; AND 2) Have your direct deposits totaling $1,000 or more made to this account within 90 days of coupon enrollment. Your direct deposit needs to be an electronic deposit of your paycheck, pension or government benefits (such as Social Security) from your employer or the government. Person to Person payments (such as Zelle®) are not considered a direct deposit. Micro-deposits do not qualify as a direct deposit for the bonus. Micro-deposits are small deposits, typically less than $1, that are sent to your account to verify it is the correct account. After you have completed all the above requirements, we'll deposit the bonus in your new account within 15 days. To receive this bonus, the enrolled account must not be closed or restricted at the time of payout. Eligibility may be limited based on account ownership. Bonus is considered interest and will be reported on IRS Form 1099-INT (or Form 1042-S, if applicable). Offer availability subject to change. Other Chase checking bonus offers may exist concurrently.</p> FDIC Insured. Offer valid through 4/15/2026.

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4.8

FinanceBuzz writers and editors score products and companies on a number of objective features as well as our expert editorial assessment. Our partners do not influence our ratings.

Bank of America Advantage Banking

Up to $500 cash offer. Click ‘Learn More' for more details. Bank of America, N.A. Member FDIC.

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5.0

FinanceBuzz writers and editors score products and companies on a number of objective features as well as our expert editorial assessment. Our partners do not influence our ratings.

AWARD WINNER Best Online Checking

SoFi Checking & Savings - Earn Up to $300 When You Set Up Direct Deposit

Limited-Time Offer: Earn a $50 or $300 bonus with eligible direct deposit and up to 4.00% APY on Savings (3.30% 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 12/31/2026. Full terms at <a href="https://www.sofi.com/banking/">sofi.com/banking</a>. SoFi Checking and Savings is offered through SoFi Bank, N.A., Member FDIC.</p><p>SoFi members with Eligible Direct Deposit can earn 3.30% 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 3.30% 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 12/23/25. There is no minimum balance requirement. Fees may reduce earnings. Additional information can be found at&nbsp;<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 up to 6 Months on new accounts. Terms Apply.² <p>Earn up to 4.00% Annual Percentage Yield (APY) on SoFi Savings with a 0.70% APY Boost (added to the 3.30% APY as of 12/23/25) for up to 6 months. Open a new SoFi Checking and Savings account and pay the $10 SoFi Plus subscription every 30 days OR receive eligible direct deposits OR qualifying deposits of $5,000 every 31 days by 3/30/2026. Rates variable, subject to change. Terms apply at&nbsp;<a href="https://www.sofi.com/banking/#2">sofi.com/banking#2</a>. SoFi Bank, N.A. Member FDIC.</p> FDIC Insured.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>

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FAQs

Banks that didn't make our list

Not all online bank accounts made the list. Here are a few others you may want to consider:

• American Express: Only current American Express cardholders are eligible for the American Express checking account. If you're eligible, it doesn't come with any fees or monthly minimum requirements, plus you earn Membership Rewards when you use your debit card.
• Charles Schwab: If you use Charles Schwab for your investment account, you may be eligible for a Charles Schwab checking or savings account. There are no monthly service fees and you can earn a small interest rate on your savings.

Chime and banks like it are also excellent options. 

5.0

FinanceBuzz writers and editors score products and companies on a number of objective features as well as our expert editorial assessment. Our partners do not influence our ratings.

2026 AWARD WINNER Best Savings for Customer Service

American Express® Savings - 3.30% annual percentage yield (APY)¹³ <p>The Annual Percentage Yield (APY) as advertised is accurate as of December 30, 2025. Interest rate and APY are subject to change at any time without notice before and after a High Yield Savings Account is opened.&nbsp;Interest Rate and APY of a Certificate of&nbsp;Deposit account is fixed once the account is funded.</p>

High Yield Savings Account. No Minimum Required Deposit or Balance.¹⁴ <p class="">There is no minimum balance required to open your Account, to avoid being charged a fee, or to obtain the Annual Percentage Yield (APY) disclosed to you.</p> Terms Apply.

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Bottom line

The online banking industry has come a long way in providing customers with safety, convenience, and competitive rates. Whether you're seeking a complete personal finance hub or a reliable checking account, selecting an online bank can help you achieve your financial goals as long as you don't mind not having a physical location to visit (in most cases). 

With so many options available, it can be difficult to decide on the best bank accounts to meet your needs. To narrow down your search, consider which factors are most important to you, such as fees, interest rates, and customer service.

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5.0

FinanceBuzz writers and editors score products and companies on a number of objective features as well as our expert editorial assessment. Our partners do not influence our ratings.

2026 AWARD WINNER Best Online Checking

High APY of up to 3.30%⁷ <p>Annual percentage yield (APY) is variable and subject to change at any time. Rates are current as of 12/23/25. There is no minimum balance requirement. Fees may reduce earnings. Additional rates and information can be found at&nbsp;<a href="https://www.sofi.com/legal/banking-rate-sheet">https://www.sofi.com/legal/banking-rate-sheet</a></p> with eligible direct deposit

Paycheck access up to 2 days early with direct deposit⁴ <p>Early access to direct deposit funds is based on the timing in which we receive notice of impending payment from the Federal Reserve, which is typically up to two days before the scheduled payment date, but may vary.</p>

No monthly maintenance or overdraft fees³ <p>We do not charge any account, service or maintenance fees for SoFi Checking and Savings. We do charge a transaction fee to process each outgoing wire transfer. SoFi does not charge a fee for incoming wire transfers, however the sending bank may charge a fee. Our fee policy is subject to change at any time. See the SoFi Checking & Savings Fee Sheet for details at <a href="http://sofi.com/legal/banking-fees/">sofi.com/legal/banking-fees/</a></p>

Streamlined savings and savings goals with Vaults

Access to a large ATM network⁶ <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 may be incurred when using out-of-network ATMs. SoFi’s ATM policies are subject to change at our discretion at any time.</p>

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5.0

FinanceBuzz writers and editors score products and companies on a number of objective features as well as our expert editorial assessment. Our partners do not influence our ratings.

AWARD WINNER Best Online Checking

High APY of up to 4.00% on Savings (3.30% 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 12/31/2026. Full terms at <a href="https://www.sofi.com/banking/">sofi.com/banking</a>. SoFi Checking and Savings is offered through SoFi Bank, N.A., Member FDIC.</p><p>SoFi members with Eligible Direct Deposit can earn 3.30% 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 3.30% 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 12/23/25. There is no minimum balance requirement. Fees may reduce earnings. Additional information can be found at&nbsp;<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 up to 6 Months on new accounts. Terms Apply.² <p>Earn up to 4.00% Annual Percentage Yield (APY) on SoFi Savings with a 0.70% APY Boost (added to the 3.30% APY as of 12/23/25) for up to 6 months. Open a new SoFi Checking and Savings account and pay the $10 SoFi Plus subscription every 30 days OR receive eligible direct deposits OR qualifying deposits of $5,000 every 31 days by 3/30/2026. Rates variable, subject to change. Terms apply at&nbsp;<a href="https://www.sofi.com/banking/#2">sofi.com/banking#2</a>. SoFi Bank, N.A. Member FDIC.</p>

Paycheck access up to 2 days early with direct deposit⁴ <p>Early access to direct deposit funds is based on the timing in which we receive notice of impending payment from the Federal Reserve, which is typically up to two days before the scheduled payment date, but may vary.</p>

No monthly maintenance or overdraft fees³ <p>We do not charge any account, service or maintenance fees for SoFi Checking and Savings. We do charge a transaction fee to process each outgoing wire transfer. SoFi does not charge a fee for incoming wire transfers, however the sending bank may charge a fee. Our fee policy is subject to change at any time. See the SoFi Checking & Savings Fee Sheet for details at <a href="http://sofi.com/legal/banking-fees/">sofi.com/legal/banking-fees/</a></p>

Streamlined savings and savings goals with Vaults

Access to a large ATM network⁶ <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 may be incurred when using out-of-network ATMs. SoFi’s ATM policies are subject to change at our discretion at any time.</p>