BEST OF

15 Best Online Banks of 2023

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

Jan 26, 2023

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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.

Best Online Banks

Our pick for

Online banks with checking and savings accounts

NerdWallet rating 

4.5

/5
Axos Bank®
NerdWallet rating 

4.5

/5
Alliant Credit Union
NerdWallet rating 

4.5

/5
Varo Bank
NerdWallet rating 

5.0

/5
Ally Bank
NerdWallet rating 

5.0

/5
Discover Bank
NerdWallet rating 

4.5

/5
SoFi
NerdWallet rating 

4.5

/5
Capital One
NerdWallet rating 

4.5

/5
GO2bank
NerdWallet rating 

4.5

/5
LendingClub Bank
NerdWallet rating 

4.5

/5
nbkc bank
NerdWallet rating 

4.5

/5
TIAA Bank

Our pick for

Online banks with savings accounts only

NerdWallet rating 

5.0

/5
Marcus by Goldman Sachs
NerdWallet rating 

5.0

/5
Synchrony Bank
NerdWallet rating 

4.5

/5
American Express National Bank
NerdWallet rating 

4.5

/5
UFB Direct

Last updated on January 26, 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, Alaska USA Federal Credit Union, 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, Bank of the West, Bank5 Connect, Bank7, Barclays, Bask Bank, BMO Harris, Boeing Employees Credit Union, Bread Savings, BrioDirect, Capital One, Charles Schwab Bank, Chase, Chime, CIBC U.S., CIT Bank, Citibank, Citizens, Citizens Bank, City First Bank, Commerce Bank, ConnectOne Bank, Connexus Credit Union, Consumers Credit Union, Current, Delta Community Credit Union, Discover Bank, E*TRADE, Fifth Third Bank, First Foundation, First National Bank, First Republic Bank, First Tech Federal Credit Union, Flagstar Bank, FNBO Direct, GO2bank, Golden 1 Credit Union, Hope Credit Union, Huntington Bank, Industrial Bank, KeyBank, Lake Michigan Credit Union, LendingClub Bank, Liberty Bank, Live Oak Bank, M&T Bank, Marcus by Goldman Sachs, Nationwide (by Axos), Navy Federal Credit Union, NBKC, One, OneUnited Bank, Pentagon Federal Credit Union, PNC, Popular Direct, PurePoint Financial, Quontic Bank, Regions Bank, Revolut, Salem Five Direct, Sallie Mae Bank, Santander Bank, Scarlet, SchoolsFirst Federal Credit Union, Security Service 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, TIAA Bank, Truist Bank, U.S. Bank, UFB Direct, Union Bank, Upgrade, USAA Bank, Varo, Vio Bank, Wells Fargo and Zynlo Bank.

To recap our selections...

NerdWallet's Best Online Banks of 2023

  • Axos Bank®: Best for Online banks with checking and savings accounts
  • Alliant Credit Union: Best for Online banks with checking and savings accounts
  • Varo Bank: Best for Online banks with checking and savings accounts
  • Ally Bank: Best for Online banks with checking and savings accounts
  • Discover Bank: Best for Online banks with checking and savings accounts
  • SoFi: Best for Online banks with checking and savings accounts
  • Marcus by Goldman Sachs: Best for Online banks with savings accounts only
  • Synchrony Bank: Best for Online banks with savings accounts only
  • Capital One: Best for Online banks with checking and savings accounts
  • GO2bank: Best for Online banks with checking and savings accounts
  • LendingClub Bank: Best for Online banks with checking and savings accounts
  • nbkc bank: Best for Online banks with checking and savings accounts
  • American Express National Bank: Best for Online banks with savings accounts only
  • UFB Direct: Best for Online banks with savings accounts only
  • TIAA Bank: Best for Online banks with checking and savings accounts

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