BEST OF

10 Best Online Banks of 2024

NerdWallet's picks include banks, nonbank financial institutions and one credit union with strong overall ratings and mobile features.

Chanelle Bessette
By Chanelle Bessette 
Edited by Sara Clarke

Many or all of the products featured here are from our partners who compensate us. This influences which products we write about and where and how the product appears on a page. However, this does not influence our evaluations. Our opinions are our own. Here is a list of our partners and here's how we make money.

Online banks and banking service providers offer desktop and mobile banking services without physical branches. Because online institutions don’t have to pay for the cost of maintaining branches, they're often able to pass the savings on to their customers in the form of higher interest rates. Online banks require customers to be comfortable with technology, but they also tend to provide robust customer service options to help users resolve any issues.

NerdWallet’s picks include online banks, nonbank financial institutions and credit unions. Some of these financial institutions are not chartered banks, as noted in their descriptions.

Why trust NerdWallet: Our writers and editors follow strict editorial guidelines to make sure our coverage is fair and accurate, so you can choose the financial accounts that work best for you. Learn more about our criteria for evaluating banks and credit unions.

🤓Nerdy Tip

If your federally insured bank fails, Federal Deposit Insurance Corp. insurance keeps your money safe up to $250,000 per depositor, per institution and per ownership category.

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Best Online Banks

Our pick for

Online banks with checking and savings accounts

NerdWallet rating 

4.5

/5
Alliant Credit Union
NerdWallet rating 

4.5

/5
Varo Bank
NerdWallet rating 

4.5

/5
Discover® Bank
NerdWallet rating 

5.0

/5
SoFi Bank, N.A.
NerdWallet rating 

4.5

/5
Capital One
NerdWallet rating 

4.5

/5
EverBank
NerdWallet rating 

4.5

/5
TAB Bank
NerdWallet rating 

4.5

/5
Upgrade

Our pick for

Online banks with savings accounts only

NerdWallet rating 

4.5

/5
Marcus by Goldman Sachs
NerdWallet rating 

4.5

/5
UFB Direct

Last updated on December 21, 2023

Methodology

We took a close look at over 90 financial institutions and financial service providers, including the largest U.S. banks based on assets, internet search traffic and other factors; the nation’s largest credit unions, based on assets and membership; and other notable and/or emerging players in the industry. We rated them on criteria including annual percentage yields, minimum balances, fees, digital experience and more.

Financial institutions and providers surveyed are: Affirm, All America Bank, Alliant Credit Union, Ally Bank, Amalgamated Bank, America First Credit Union, American Express National Bank, Andrews Federal Credit Union, Associated Bank, Axos Bank, Bank of America, Bank5 Connect, Bank7, Barclays, Bask Bank, Bethpage Federal Credit Union, BMO, BMO Alto, Boeing Employees Credit Union, Bread Savings, BrioDirect, Capital One, Carver Federal Savings Bank, Charles Schwab Bank, Chase, Chime, CIBC U.S., CIT Bank, Citibank, Citizens, Citizens Bank, City First Bank, Climate First Bank, Commerce Bank, Community First Credit Union of Florida, ConnectOne Bank, Connexus Credit Union, Consumers Credit Union, Current, Delta Community Credit Union, Discover Bank, E*TRADE, EverBank (formerly TIAA Bank), Fifth Third Bank, First Foundation, First National Bank, First Tech Federal Credit Union, Flagstar Bank, FNBO Direct, Global Credit Union, GO2bank, Golden 1 Credit Union, Greenwood, Hope Credit Union, Huntington Bank, Industrial Bank, Ivy Bank, KeyBank, Lake Michigan Credit Union, LendingClub Bank, Liberty Bank, Live Oak Bank, M&T Bank, Marcus by Goldman Sachs, Navy Federal Credit Union, NBKC, One, OneUnited Bank, Pentagon Federal Credit Union, PNC, Popular Direct, Quontic Bank, Regions Bank, Revolut, Salem Five Direct, Sallie Mae Bank, Santander Bank, SchoolsFirst Federal Credit Union, Security Service Federal Credit Union, Securityplus Federal Credit Union, Self-Help Credit Union, Service Credit Union, SoFi, State Employees’ Credit Union of North Carolina, Suncoast Credit Union, Synchrony Bank, TAB Bank, TD Bank, Truist Bank, U.S. Bank, UFB Direct, Upgrade, USAA Bank, Varo, Vio Bank, Wells Fargo and Zynlo Bank.

To recap our selections...

NerdWallet's Best Online Banks of 2024

  • Alliant Credit Union: Best for Online banks with checking and savings accounts
  • Varo Bank: Best for Online banks with checking and savings accounts
  • Discover® Bank: Best for Online banks with checking and savings accounts
  • SoFi Bank, N.A.: Best for Online banks with checking and savings accounts
  • Marcus by Goldman Sachs: Best for Online banks with savings accounts only
  • Capital One: Best for Online banks with checking and savings accounts
  • UFB Direct: Best for Online banks with savings accounts only
  • EverBank: Best for Online banks with checking and savings accounts
  • TAB Bank: Best for Online banks with checking and savings accounts
  • Upgrade: Best for Online banks with checking and savings accounts

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