9 Best Online Checking Accounts of 2024
The best online checking accounts offer special features and good remote customer service.
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To open an online checking account, you'll want to look at what's offered by online banks, credit unions and nonbank financial institutions. The best online checking accounts have low or no fees and higher interest rates than traditional banks do, in part because of the money online banks save by not operating branches.
These accounts are secure, backed by the Federal Deposit Insurance Corp. or the National Credit Union Administration. (Although they are not technically banks, nonbanks offer most of the same services that traditional institutions do.)
Why trust NerdWallet: Our writers and editors follow strict editorial guidelines to ensure fairness and accuracy in our coverage to help you choose the financial accounts that work best for you. See our criteria for evaluating banks and credit unions.
Here are our favorite online checking accounts.
APYs shown are current as of Dec. 9, 2024. All other information is current as of Nov. 18, 2024.
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Best Online Checking Accounts
| Bank/institution | NerdWallet rating | APY | Bonus | Monthly fee | Overdraft star rating | Learn more |
|---|---|---|---|---|---|---|
5.0/5 | 0.50% With $0 min. balance for APY | $300 Earn up to $300 with direct deposit. Terms apply. | $0 | 5.0/5 | Learn more at SoFi Bank, N.A., Member FDIC | |
5.0/5 | N/A | $360 Up to $360 per year. See website for details. | $0 | 5.0/5 | Learn more at Discover® Bank, Member FDIC | |
5.0/5 | 1.75% With $0 min. balance for APY | N/A | $0 | 4.8/5 | ||
5.0/5 | 1.00% | N/A | $0 | 3.8/5 | ||
5.0/5 | 1.00% With $0 min. balance for APY | N/A | $0 | 4.4/5 | ||
5.0/5 | 0.01% With $0.01 min. balance for APY | $300 Requirements to qualify | $0 | 4.3/5 | ||
5.0/5 | 3.50% With $0.01 min. balance for APY | N/A | $0 | 3.8/5 | ||
5.0/5 | N/A | N/A | $0 | 3.8/5 | Learn more at Upgrade, Deposits are FDIC Insured | |
5.0/5 | 2.00% | N/A | $0 | 3.8/5 |
Our pick for
Online Checking Accounts
APY
0.50%
With $0 min. balance for APY
Bonus
$300
Earn up to $300 with direct deposit. Terms apply.
Monthly fee
$0
Overdraft star rating
5.0/5
APY
N/A
Bonus
$360
Up to $360 per year. See website for details.
Monthly fee
$0
Overdraft star rating
5.0/5
APY
1.75%
With $0 min. balance for APY
Bonus
N/A
Monthly fee
$0
Overdraft star rating
4.8/5
APY
1.00%
Bonus
N/A
Monthly fee
$0
Overdraft star rating
3.8/5
APY
1.00%
With $0 min. balance for APY
Bonus
N/A
Monthly fee
$0
Overdraft star rating
4.4/5
APY
0.01%
With $0.01 min. balance for APY
Bonus
$300
Requirements to qualify
Monthly fee
$0
Overdraft star rating
4.3/5
APY
3.50%
With $0.01 min. balance for APY
Bonus
N/A
Monthly fee
$0
Overdraft star rating
3.8/5
APY
N/A
Bonus
N/A
Monthly fee
$0
Overdraft star rating
3.8/5
APY
2.00%
Bonus
N/A
Monthly fee
$0
Overdraft star rating
3.8/5
The pros of online checking accounts
Fewer fees. Online checking accounts tend to charge fewer fees than traditional banks since online providers have lower overhead.
Higher interest rates. Online banks tend to have higher interest rates on their accounts than brick-and-mortar banks – when offering any interest on checking – because they don’t have the cost of running branches.
User-friendly apps. Online providers typically have well-designed websites and mobile apps for doing your banking, including tasks such as depositing checks and paying bills.
» Looking for online banks with top overall ratings? See NerdWallet's list of Best Online Banks
The cons of online checking accounts
No in-person customer service. Online institutions typically don’t have branches, which may be a deal breaker for customers who prefer face-to-face assistance.
Cash deposits can sometimes be difficult. Some online banks and nonbanks work with ATM networks to allow cash deposits, but others allow only mobile check deposits, direct deposit or electronic transfer from other banking accounts.
» More from NerdWallet: What are online banks? Learn the pros and cons
How do I deposit cash with an online checking account?
Options for depositing cash at an online provider usually include using a deposit-accepting ATM or putting cash into a traditional bank account and transferring that money to your online account. You could also convert the cash into a money order, which you might be able to deposit electronically using your online provider's mobile app.
Last updated on December 9, 2024
Methodology
We took a close look at over 100 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, Barclays, Bask Bank, Bethpage Federal Credit Union, BMO, BMO Alto, Boeing Employees Credit Union, Bread Savings, BrioDirect, Capital One, Carver Federal Savings Bank, CFG 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, Customers Bank, Delta Community Credit Union, Discover® Bank, E*TRADE, EverBank (formerly TIAA Bank), Fifth Third Bank, First Foundation, First Internet Bank, First National Bank, First Tech Federal Credit Union, Flagstar Bank, FNBO Direct, Flagstar Bank, Forbright BankGlobal Credit Union, GO2bank, Golden 1 Credit Union, Greenwood, Hope Credit Union, Huntington Bank, Industrial Bank, Ivy Bank, Jenius Bank, KeyBank, Lake Michigan Credit Union, Laurel Road Bank, LendingClub Bank, Liberty Bank, Live Oak Bank, M&T Bank, Marcus by Goldman Sachs, My Banking Direct, NASA Federal Credit Union, Navy Federal Credit Union, NBKC, Newtek Bank, One, OneUnited Bank, Pentagon Federal Credit Union, PNC, Poppy Bank, 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, Western Alliance Bank and Zynlo Bank.
NerdWallet's Best Online Checking Accounts of 2024
- SoFi Checking and Savings: Best for Online Checking Accounts
- Discover® Cashback Debit: Best for Online Checking Accounts
- nbkc bank Everything Account: Best for Online Checking Accounts
- American Express Rewards Checking: Best for Online Checking Accounts
- Bask Bank Interest Checking: Best for Online Checking Accounts
- Laurel Road Loyalty Checking: Best for Online Checking Accounts
- TAB Spend: Best for Online Checking Accounts
- Upgrade - Rewards Checking Plus: Best for Online Checking Accounts
- ZYNLO Bank More Spending Account: Best for Online Checking Accounts
Frequently asked questions
- What is an online checking account?
Online-only checking accounts offer many features of traditional checking accounts but with primarily online customer service options. Customers may have to use third-party services to deposit cash, but they will typically have access to a broad ATM network such as Allpoint and MoneyPass to withdraw cash.
- Are online bank accounts safe?
Even with strong security measures, financial institutions can still be susceptible to bad actors and data breaches. Online banks have secure technology in place to protect their customers’ assets, but you should safeguard your funds and reduce the risk of having your account hacked by following some simple safety guidelines.