12 Best Online Checking Accounts of 2022
The best online checking accounts offer special features and good remote customer service.
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The best online banks, nonbank financial institutions and credit unions offer checking accounts with fewer fees and higher interest rates than traditional banks do, in part because of the money they 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.
The best online banks, nonbank financial institutions and credit unions offer checking accounts with fewer fees and higher interest rates than traditional banks do, in part because of the money they 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.

at Discover Bank, Member FDIC
Discover Bank Cashback Debit

Monthly fee
$0APY
N/ABonus
N/Aat Discover Bank, Member FDIC

at SoFi, Member FDIC
SoFi Checking and Savings

Monthly fee
$0APY
1.25%With $0 min. balance for APY
Bonus
$300Earn up to $300 with direct deposit. Terms apply.
at SoFi, Member FDIC

at Alliant Credit Union, Federally insured by the NCUA
Alliant Credit Union High-Rate Checking

Monthly fee
$0APY
0.25%With $0 min. balance for APY
Bonus
N/Aat Alliant Credit Union, Federally insured by the NCUA

at Axos Bank®, Member FDIC
Axos Bank® Rewards Checking

Monthly fee
$0APY
1.25%With $0 min. balance for APY
Bonus
$150Requirements to qualify
at Axos Bank®, Member FDIC
nbkc bank Everything Account

Monthly fee
$0APY
0.15%With $0 min. balance for APY
Bonus
N/ALendingClub Rewards Checking

Monthly fee
$0APY
0.10%With $2,500 min. balance for APY
Bonus
N/AAmerican Express Rewards Checking

Monthly fee
$0APY
0.50%Bonus
N/AAlly Bank Interest Checking Account

Monthly fee
$0APY
0.10%With $0 min. balance for APY
Bonus
N/ACapital One 360 Checking

Monthly fee
$0APY
0.10%With $0 min. balance for APY
Bonus
N/AThe 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? Check out 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 May 26, 2022
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Discover Bank Online Savings

APY
With $0 min. balance for APY
Bonus
Requirements to qualify
at Discover Bank, Member FDIC
Marcus by Goldman Sachs Online Savings Account

APY
With $0 min. balance for APY
at Marcus by Goldman Sachs, Member FDIC
Discover Bank Online Savings

APY
With $0 min. balance for APY
at Discover Bank, Member FDIC
Methodology
We took a close look at over 80 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, Alliant Credit Union, Ally Bank, America First Credit Union, American Express National Bank, Axos Bank, Bank of America, Bank of the West, Bank5 Connect, Bank7, Barclays, BB&T (now Truist), BMO Harris, Boeing Employees Credit Union, Bread Savings, BrioDirect, Capital One, Charles Schwab Bank, Chase, Chime, CIBC U.S., CIT Bank, Citibank, Citizens Access, Citizens Bank, ConnectOne Bank, Connexus Credit Union, Consumers Credit Union, Current, Discover Bank, E-Trade, Fifth Third Bank, First Foundation, First Tech Federal Credit Union, FNBO Direct, GO2bank, Golden 1 Credit Union, HSBC Bank, Huntington Bank, Industrial Bank, KeyBank, Lake Michigan Credit Union, LendingClub Bank, Live Oak Bank, M&T Bank, Marcus by Goldman Sachs, Monifi, Nationwide (by Axos), Navy Federal Credit Union, NBKC, One, OneUnited Bank, Pentagon Federal Credit Union, PNC, Popular Direct, PurePoint Financial, Quontic Bank, Redneck Bank, Regions Bank, Revolut, Salem Five Direct, Sallie Mae Bank, Santander Bank, Scarlet, SchoolsFirst Federal Credit Union, Security Service Federal Credit Union, Service Credit Union, State Employees’ Credit Union of North Carolina, SoFi, Suncoast Credit Union, SunTrust Bank (now Truist), 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 Checking Accounts of 2022
- Discover Bank Cashback Debit
- SoFi Checking and Savings
- Alliant Credit Union High-Rate Checking
- Axos Bank® Rewards Checking
- Quontic Cash Rewards Checking
- Monifi Spend Balance
- nbkc bank Everything Account
- LendingClub Rewards Checking
- One Spend
- American Express Rewards Checking
- Ally Bank Interest Checking Account
- Capital One 360 Checking
Frequently asked questions
Online-only checking accounts offer many of 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 to withdraw cash.
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.