7 Best Online Banks Like Chime [2025]

Chime®¹ <p class="">Chime is a financial technology company, not a bank. Banking services and debit card provided by The Bancorp Bank, N.A. or Stride Bank, N.A.; Members FDIC.&nbsp;<br></p> is a popular financial technology company (fintech) that's become known for its easy-to-use mobile interface, accounts without monthly fees or minimums² <p>There’s no fee for the Chime Savings Account. Cash withdrawal and Third-party fees may apply to Chime Checking Accounts. You must have a Chime Checking Account to open a Chime Savings Account.</p> , credit-building features, and automated tools to help people save more. It's a great banking option for a variety of people interested in feature-packed online money management, but it isn't right for everybody.

That's why we've analyzed other no-monthly-fee online banks and financial technology companies with digital platforms, accounts, and benefits like Chime's. Based on our research, a few of the alternatives we most recommend are SoFi,® Discover, Varo, and OnePay, but we've included a few other options as well. Here are the best online banks like Chime and what makes their bank accounts similar to those of the fintech.

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How we evaluate products

In compiling this list of the best online banks like Chime, we determined areas that may be essential to users drawn to digital banking. These areas included the availability of different account types, account minimums, fees, automated savings features, checking features such as early direct deposit and overdraft protection, customer service and consumer sentiment, and ATM access. We selected banks most similar to Chime overall and on an individual account level, with some being ideal for a small subset of potential customers and some offering more broad appeal.

Keep in mind that we are not ranking these online banks in a certain order and did not review all available options. Note that some options on our list may be current or past FinanceBuzz partners.

No-monthly-fee online banks like Chime we recommend

• SoFi®
• Discover
• Varo
• OnePay
• Ally
• Capital One
• Axos

Best online banks like Chime comparison

Bank	Best for	Features similar to Chime
SoFi®	Customer experience	Early direct deposit Automated savings Overdraft coverage
Discover	Cash back debit cards	Early direct deposit Overdraft coverage Cash back
Varo	Mobile app experience like Chime	Early direct deposit Automated savings Overdraft coverage Cash back
OnePay	Building credit	Early direct deposit Overdraft coverage Credit building Cash back
Ally Bank	Full-service banking	Early direct deposit Automated savings Overdraft coverage
Capital One	Teen banking features	Early direct deposit
Axos	Checking account with rewards	Early direct deposit Cash back

SoFi®

If you're drawn to Chime's products and platform but don't love the fintech's lower customer experience reputation, we urge you to look at SoFi. SoFi® provides a combined checking and savings account that earns up to 3.80% APY, with direct deposit.³ <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 Direct Deposits received during the Direct Deposit Bonus Period) <b>OR</b> $300 (with at least $5,000 total Direct Deposits received during the Direct Deposit Bonus Period). Cash bonus will be based on the total amount of Direct Deposit. Direct Deposit Promotion begins on 12/7/2023 and will be available through 1/31/2026. See full bonus and annual percentage yield (APY) terms at <a href="http://www.sofi.com/banking#1">sofi.com/banking#1</a>. SoFi Checking and Savings is offered through SoFi Bank, N.A., Member FDIC.</p> <p>SoFi members who enroll in SoFi Plus with Direct Deposit or by paying the SoFi Plus Subscription Fee every 30 days or with $5,000 or more in Qualifying Deposits during the 30-Day Evaluation Period can earn 3.80% annual percentage yield (APY) on savings balances (including Vaults) and 0.50% APY on checking balances. There is no minimum Direct Deposit amount required to qualify for the stated interest rate. Members without either SoFi Plus or Qualifying Deposits, during the 30-Day Evaluation Period will earn 1.00% APY on savings balances (including Vaults) and 0.50% APY on checking balances. Only SoFi Plus members are eligible for other SoFi Plus benefits. Interest rates are variable and subject to change at any time. These rates are current as of Jan. 24, 2025. 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>. See the SoFi Plus Terms and Conditions at <a href="https://www.sofi.com/terms-of-use/#plus">https://www.sofi.com/terms-of-use/#plus</a>.</p> You don't have to worry about monthly service or overdraft fees with SoFi⁴ <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> , and you certainly don't have to worry about a middling customer experience.

Chime receives mixed reviews from consumers, with a rating of 2.2 out of 5 stars on Trustpilot and a C+ grade with the Better Business Bureau (BBB). Many Chime customers complain of poor communication about issues, long processing times, and frustrating support encounters. But SoFi® is known for providing top-notch customer experiences. It has a rating of 4.5 with Trustpilot, which is excellent for a banking platform, and an A+ BBB grade.

SoFi has more financial products than Chime, but it won't be right for you if you're looking for just a checking account or just a savings account. You'll also want to link direct deposit to take advantage of SoFi's benefits, so consider other free banks on this list if that's a no-go. SoFi is a Member, FDIC. ⁶ <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>

Visit SoFi Checking and Savings | Read our full SoFi® review.

Discover

Discover may be best known for its credit cards, but don't count it out for banking — especially if you're in the market for a debit card. Discover has a checking account, savings account, MMA, and a handful of CDs, but we like the bank's checking account the most. The Discover® Cashback Debit account is like Chime's checking account in that it doesn't charge fees, includes early paychecks and overdraft coverage, and allows for cash deposits at participating Walmart locations, but that's where the similarities end.¹⁰ <p>See <a href="https://www.discover.com/content/dam/dfs/online-banking/documents/NationalDepositAccountAgreement.pdf">Deposit Account Agreement</a> for details on transaction eligibility, limitations, and terms.</p>

The Discover Cashback Checking account offers up to 1.00% cash back on up to $3,000 in monthly Discover debit card purchases.¹¹ <p>Earn 1% cash back on up to $3,000 in debit card purchases each month. See Deposit Account Agreement for details on transaction eligibility, limitations and terms. Deposit Account Agreement can be found at <a href="https://www.discover.com/content/dam/dfs/online-banking/documents/NationalDepositAccountAgreement.pdf">https://www.discover.com/content/dam/dfs/online-banking/documents/NationalDepositAccountAgreement.pdf</a>.</p> Not everyone with a checking account uses their debit card often, but we'd argue this is the best way to bank with Discover.

Discover's other banking accounts aren't bad, either. The Discover® Online Savings Account has a 3.75% (as of 12/18/24) APY, and its 12-month CD currently offers 4.00% (as of 04/01/25).¹² <p>Annual Percentage Yield (APY). Advertised Online Savings Account APY is accurate as of 03/04/25. Applies to personal accounts only. APY may change before or after the account is opened. No minimum deposit to open.</p> The Discover® Money Market Account earns 3.60% (as of 12/18/24) APY depending on the balance. CDs and money market accounts require a $2,500 minimum deposit but don't have account fees. Member FDIC.

Visit Discover® Cashback Debit | Check out our full Discover bank review.

Varo

We picked Varo as one of the best Chime alternatives because it offers a similar mobile app and online banking platform. If you like Chime's clean interface and user experience, Varo might have what you're looking for.

Like Chime, Varo's product suite is lean. It has one savings account, one checking account, and a few non-banking products, including a credit-building credit card and line of credit. Its accounts don't have fees or minimums, and the bank provides round-up savings transfers and early direct deposit, so you can get paid up to two days early.¹⁴ <p>Early access to direct deposit funds depends on timing of the payer’s submission of deposits. We generally post such deposits on the day they are received which may be up to 2 days earlier than the payer’s scheduled payment date.</p> Varo also offers cash advances up to $500 through Varo Advance with a flat fee determined by the total, which is similar to Chime's SpotMe Fee-Free Overdraft (but Chime only offers up to $200).¹⁵ <p>SpotMe® on Debit is an optional, no fee overdraft service attached to your Chime Checking Account. To qualify for the SpotMe on Debit service, you must receive $200 or more in qualifying direct deposits to your Chime Checking Account each month and have activated your physical Chime Visa® Debit Card or secured Chime Credit Builder Visa® Credit Card. Qualifying members will be allowed to overdraw their Chime Checking Account for up to $20 on debit card purchases and cash withdrawals initially but may later be eligible for a higher limit of up to $200 or more based on Chime Account history, direct deposit frequency and amount, spending activity and other risk-based factors. The SpotMe on Debit limit will be displayed within the Chime mobile app and is subject to change at any time, at Chime's sole discretion. Although Chime does not charge any overdraft fees for SpotMe on Debit, there may be out-of-network or third-party fees associated with ATM transactions. SpotMe on Debit will not cover any non-debit card transactions, including ACH transfers, Pay Anyone transfers, or Chime Checkbook transactions. <a href="https://www.chime.com/policies/">SpotMe on Debit Terms and Conditions</a>.</p>

Compared to Chime, Varo pays higher rates. While Chime only offers a 2.00% (as of Sept. 9, 2024) APY¹⁶ <p class="">The Annual Percentage Yield (“APY”) for the Chime Savings Account is variable and may change at any time. The disclosed APY is accurate as of September 20, 2023. No minimum balance required. Must have $0.01 in savings to earn interest.&nbsp;</p> on its savings account¹⁷ <p class="">Chime Checking Account is required to be eligible for a Savings Account.<br></p> , Varo pays 5.00% (as of 12/11/24) on the first $5,000 deposited. However, to get the highest rate, you must receive a qualifying direct deposit of $1,000 or more each month and maintain a positive amount in your Varo Spending and Savings accounts. We'd recommend Varo if you plan to link your paycheck to your bank account and are likely to keep a relatively low balance.

Visit Varo. | Read our full Varo review.

OnePay

We chose OnePay as the best alternative for people who like the credit-building features of Chime. Usually, you can only build credit with a credit card. But with OnePay, you can enroll in the Credit Builder Program as a banking customer without a credit check to build a positive payment history and try to improve your credit.¹⁸ <p>Use of the Credit Builder Program does not guarantee that your credit score will improve. Credit score improvement is dependent on your specific circumstances and a variety of factors, including your financial behavior. Failure to make monthly minimum payments on time may negatively impact your credit score. Credit Builder is available to OnePay Cash accounts that have either (i) received <a href="https://www.onepay.com/help-center/articles/direct-deposit">Direct Deposits</a> totaling $500+ in the current or previous month, or (ii) have a balance of $5,000+ at the end of the previous month. Participation is subject to eligibility. See <a href="https://www.onepay.com/legal/licenses">Licenses</a>, for state disclosures. OnePay is not a credit repair service and does not remove negative credit history from your credit profile.</p> It costs $1 a month and $500 in direct deposits or a balance of $5,000 to qualify, but this might be worth it if your credit is in rough shape or too new for a credit card.¹⁹ <p>Based on a 12 month loan with $25 monthly payments and a 0% APR. You can choose how much you’d like to pay towards your monthly payment, with a minimum of $1. If you choose an amount less than the full monthly payment, the remainder will be paid from the loan proceeds held in your Credit Builder lockbox.</p>

OnePay is a fintech that partners with Coastal Community Bank and Lead Bank to provide banking services.²⁰ <p><b>OnePay is a financial technology company, not a bank. Loans through OneProgress Services LLC (NMLS ID 2460509) and banking services through OnePay are provided by Coastal Community Bank or Lead Bank, Members FDIC.</b></p> It uses a single checking account with pockets to dedicate money for different savings goals. You can earn up to 3.75% APY on your Save balances with eligible deposits and enable an auto-save feature to round up purchases.²¹ <p element-id="440">3.75% annual percentage yield (APY) applies to the Savings balance of OnePay Cash accounts that either (i) received $500+ of <a href="https://support.one.app/hc/en-us/articles/360053046053-Direct-deposit">Direct Deposits</a> in the current or previous month or (ii) have a&nbsp; balance of $5,000+ at the end of the previous month. 3.75% APY is also earned on Pay Autosave balances without deposit or balance requirements.&nbsp; 3.75% APY is limited to a total Savings balance of up to $250,000. All other Savings balances will earn 1.00% APY. APYs are as of 12/20/2024, but may change at any time before or after account opening.</p>

OnePay has no monthly fees or account minimums. There is no fee for cash withdrawals at Walmart using your OnePay debit card. If you are a Plus Customer (those who receive $500 or more in eligible direct deposits per month or have an account balance of $5,000), you can use the Allpoint Network of ATMs for free. If you are not a Plus Customer, you'll pay a $3 fee plus any fees the ATM operator charges. Using any out-of-network ATMs, whether a Plus Customer or not, will result in a $3 fee plus any fees the ATM operator charges. Additionally, you can only deposit cash at Walmart checkout or customer service stations.²² <p class="">Only applies to deposits and withdrawals with a OnePay Cash debit card made at Walmart Money Centers, cashiers, or Customer Service desks.</p>

Visit OnePay. | Read our full OnePay review.

Ally

Ally Bank's robust list of accounts and features make it one of the best online banks for people who want to keep all their finances at one company, and this is also why we see it as one of the strongest Chime alternatives. The FDIC-insured, online-only bank offers a high-yield savings account with 3.80% (as of 1/8/25) interest and an interest checking account earning 0.25% (as of 01/1/25) interest. Unlike Chime, Ally has money market accounts (MMAs) and certificates of deposit (CDs) for those of us looking further into the future with our savings.

Ally doesn't charge monthly maintenance or overdraft fees, and it's a great option if you value cash access. Ally also offers early direct deposit and lets you separate funds in your checking and savings accounts for different purposes with buckets. It pays 0.25% (as of 01/1/25) APY on checking and 3.80% (as of 1/8/25) on savings accounts.

One of Ally's main drawbacks is that it does not accept cash deposits, as Chime does. However, it accepts mobile checks, transfers, direct deposits, wire transfers, and mailed checks.

Visit Ally. | Read our full Ally review.

Capital One

If you pretty much like everything about Chime and just wish your kid could use it, we think you'll appreciate Capital One 360. Capital One has checking, savings, CD, and money market accounts with no fees or minimum balance requirements, and its earning rates are pretty competitive across the board (3.70% (as of 02/07/25) APY on the 360 Performance Savings). But the bank's accounts for kids and teens set it apart from many institutions.

With Capital One 360, you can set up a Kids Savings Account for your child or help them learn healthy money habits with a MONEY Teen Checking. The savings account earns 2.50% (as of 01/11/25) APY, and the checking account earns 0.10% (as of 01/11/25) APY. Both include kid-friendly mobile platforms with parental oversight. You must be at least 18 to open an account through Chime, but kids as young as eight can bank with Capital One.

Capital One is also one of few digital-forward banks with brick-and-mortar locations, though physical branches are limited to the states on the East Coast — there are less than 300 altogether.

Visit Capital One. | Read our full Capital One 360 review.

Axos

If Chime's basic checking account feels like it's missing something, we recommend you look into Axos Bank. Axos Bank is an independently chartered institution with a range of financial products and services, but its interest-bearing checking account is probably the one you'll be most interested in.

The Rewards Checking account provides a high maximum APY of 3.30% when customers meet five requirements to earn the best rate. These include direct deposit and debit card activity minimums and non-banking account requirements related to investing and loans. There are a lot of metaphorical hoops you have to jump through to qualify for the best rewards rate with this account, but qualifying for any interest could make Axos far more rewarding for everyday banking than Chime. Axos also has a cashback checking account, a basic account, an account for teens, and an account specifically for seniors.

Axos' online savings account and CD rates aren't as impressive as its checking account rates. The high-yield savings account provides up to 0.61% (as of 01/11/25) APY, which is lower than you can find at other banks but still higher than the national average of .46%, according to FDIC data from September 2024. Still, Axos is a poor choice for savings but a smart option for you if you're looking for a checking account.

Visit Axos. | Learn more in our Axos Bank review.

How to choose an online bank

If you're interested in Chime but want to make sure you're considering all the best online banks, here are some tips for narrowing down your options.

Check out account types

Chime has one checking and one savings account option. Many online banks provide more account types to choose from than this, which may include additional checking and/or savings options or other bank accounts, such as CDs or MMAs. Within each account category, there can also be multiple options for the main features or benefits you'll get when banking. For example, some checking accounts emphasize interest earnings or cashback rewards, while others may offer early direct deposit or be second-chance accounts for those with imperfect banking histories.

Compare funding and withdrawal terms

For each type of account you're interested in, look at funding and withdrawal options. Many online banks only permit digital transfers via ACH or direct deposit, but some also allow for cash deposits or provide checks. Think about how you like to bank to decide what might work for you, and note any monthly transaction limitations and fees for exceeding these.

Consider rates, fees, and minimums

Many online banks and fintechs, including Chime and most on this list, don't have minimum balance requirements or charge monthly fees. This makes them more appealing if you tend to carry lower balances because you won't have to worry about losing your money to fees if your balance dips below a certain number, and you shouldn't have to pay just to be a customer.

Many online banks also offer higher rates on interest-bearing accounts than brick-and-mortar banks. This is because online banks operate with lower overhead than banks that pay to keep thousands of physical branches open, so they can reward customers with better rates. Still, always shop around for the best rates on whatever account you're looking to open.

Research features

Some banks provide enticing banking features like cash back on checking, overdraft coverage, automated savings tools, and early direct deposit. Depending on how you bank, features like this can help you save money. Consider all the options available and note any requirements you need to meet to qualify for perks. For example, some accounts, like Discover's checking account, offer cashback on qualifying purchases up to $3,000 a month, and you need to enroll in direct deposit to be eligible for SoFi's Overdraft Coverage.

FAQs

Other banks we considered

Current

If The secured Chime Credit Builder Visa® Credit Card appeals to you, Current might be a good choice. We didn't include it in our list of top accounts because the company offers only one bank account, and you can only earn the best rate of 4.00% (as of Aug. 1, 2023) APY on up to $6,000 in savings.

But there's a lot to like about Current. This includes a secured credit card to help you build credit, round-up savings transfers, and the ability to separate savings into "Savings Pods" to allocate funds for different goals. We chose OnePay as the best for building credit because you can enroll without signing up for a credit card.

Quontic

Quontic didn't quite make our top nine because it's a smaller bank with fewer reviews available for it, and many of its products fall just a bit short of our favorite options. For example, the Quontic High Yield Savings account earns a decent APY of 4.00% (as of 11/19/24), but this rate doesn't quite compete with the accounts earning 5.00% APY; plus, it requires a minimum deposit of $100 (which isn't high, but we'll take no minimums over low minimums).

Quontic has some interesting checking accounts, including a Wearable Checking account that comes with a "pay ring" instead of a traditional debit card, but its strongest offerings are arguably its MMA and CDs. Consider this online bank if you're looking for a place to save for the long haul.