BEST OF

8 Best Online Checking Accounts of 2024

The best online checking accounts offer special features and good remote customer service.

Chanelle Bessette
By Chanelle Bessette 
Edited by Sara Clarke

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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 Apr. 8, 2024. All other information is current as of Jan. 5, 2024.

Best Online Checking Accounts

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Our pick for

Online Checking Accounts

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NerdWallet rating 

5.0

/5
SoFi Checking and Savings
Learn more

at SoFi Bank, N.A., Member FDIC

APY
0.50%
With $0 min. balance for APY

Bonus
$400

Limited-time offer

Up to $300 cash and $100 in rewards points. Terms apply.

Monthly fee
$0

Overdraft star rating
5.0/5
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NerdWallet rating 

5.0

/5
Axos Bank® Rewards Checking
Learn more

at Axos Bank®, Member FDIC

APY

3.30%

With $0 min. balance for APY

Bonus

$300

Earn $300 with direct deposit. Terms apply.

Monthly fee

$0

Overdraft star rating

4.5/5

NerdWallet rating 

5.0

/5
Discover® Cashback Debit
Learn more

at Discover® Bank, Member FDIC

APY

N/A

Bonus

N/A

Monthly fee

$0

Overdraft star rating

4.5/5

NerdWallet rating 

5.0

/5
Ally Bank Spending Account
Learn more

at Ally Bank, Member FDIC

APY

0.10%

With $0 min. balance for APY

Bonus

N/A

Monthly fee

$0

Overdraft star rating

5.0/5

NerdWallet rating 

5.0

/5
nbkc bank Everything Account
Learn more

at nbkc bank, Member FDIC

APY

1.75%

With $0 min. balance for APY

Bonus

N/A

Monthly fee

$0

Overdraft star rating

4.0/5

NerdWallet rating 

5.0

/5
LendingClub Rewards Checking
APY

0.10%

With $2,500 min. balance for APY

Bonus

N/A

Monthly fee

$0

Overdraft star rating

4.0/5

NerdWallet rating 

5.0

/5
American Express Rewards Checking
APY

1.00%

Bonus

N/A

Monthly fee

$0

Overdraft star rating

3.5/5

NerdWallet rating 

5.0

/5
Schwab Bank Investor Checking™
APY

0.45%

With $0 min. balance for APY

Bonus

N/A

Monthly fee

$0

Overdraft star rating

4.5/5

The pros of online checking accounts

  • 24/7 access. With online banking, you can access your account securely anytime.

  • Fewer fees. Online checking accounts tend to charge fewer fees than traditional banks since online providers have lower overhead.

  • User-friendly technology. 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.

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 April 8, 2024

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 Checking Accounts of 2024

Frequently asked questions