Advertiser Disclosure The credit card, banking, and other financial offers that appear on this site are from companies that compensate us – for example, when you click a link, are approved for a product, or open an account. This compensation may influence how and where offers appear on the site, including the order in which they appear on category pages. It does not influence our evaluations, ratings, or opinions, which are ours alone. We do not include every bank, credit card company, or offer available in the marketplace. The best online banks provide a good balance of high APYs, low fees, and reasonable minimum requirements. We have analyzed the offerings from countless online banks available nationwide to identify some of the best choices. Below, you can find detailed information about why we selected each institution, the advantages and disadvantages they offer, and access to individual bank reviews. Best Online Banks Axos Bank: Best Overall Our Rating : 4 / 5 Savings : Up to 4.21% APY CDs : 3 to 60 months Features : Interest-earning checking, zero fees, 95,000+ ATMs, early direct deposit Axos Bank’s innovative Axos ONE bundle combines high-yield savings and interest-earning checking into a single, fee-free package that turns everyday banking into a wealth-building opportunity. Unlike traditional banks that separate checking and savings, Axos ONE integrates both accounts seamlessly, allowing you to manage your entire cash flow from one platform while earning exceptional yields on transaction and savings balances. Axos ONE offers an impressive up to 4.21% APY on savings and 0.51% APY on checking when you meet monthly requirements. To qualify for promotional rates, choose either $1,500+ in direct deposits with an average daily balance above $1,500, or $5,000+ in qualifying deposits with an average daily balance over $5,000. Without meeting requirements, savings earns 1.00% APY base rate. The account provides complete fee-free banking with zero monthly maintenance fees, no minimum balance requirements, and no overdraft fees. You’ll get up to $10 monthly in out-of-network ATM fee reimbursements and access to 95,000+ fee-free ATMs nationwide – exceeding major traditional banks like Chase, Bank of America, and Wells Fargo. Axos ONE includes early direct deposit access, allowing you to get paid up to two days early for better cash flow management. The integrated digital platform lets you manage both accounts from one mobile app with seamless transfers, bill payment automation, and real-time budgeting tools. For added security, Axos Bank offers expanded FDIC insurance up to $265 million through InsureGuard+ Savings powered by IntraFi Network Deposits, far exceeding the standard $250,000 coverage. Read Our Review: Axos ONE Review Tiered variable APY. Balance & activity requirements apply. Learn more. Alliant Credit Union: Best Credit Union Our Rating: 4 / 5 Savings: 3.01% APY CDs: 3 to 60 months Features: Convenient, Fee-Free, Accessible ATMs When is an online bank, not an online bank? When it’s an online credit union . There’s no better branchless option than Alliant Credit Union. As a credit union, Alliant exists for its members rather than stockholders putting its members/customers first. Alliant Credit Union offers an ideal mix of high yields on savings products, diverse account types, 80,000 in-network ATMs, few fees, and robust mobile banking. Alliant has a comprehensive lineup of checking and savings accounts, like: High-Rate Savings: A high-yield savings account for goal-oriented savers High-Rate Checking: A checking account with competitive interest rates Certificates of Deposit : Help you earn with set interest rates for a fixed period Kids Savings: A custodial account built for kids 12 and younger Teen Checking: A joint account for kids aged 13 to 17 to help kids learn money management Read Our Review: Alliant High Rate Savings Review CIT Bank: Best for High Yields Our Rating: 4 / 5 Savings: Up to 3.75% APY CDs: 6 months to 5 years Features: High yields, multiple CD options, eChecking CIT Bank pays interest on eligible eChecking funds, an uncommon benefit on checking accounts. CIT Bank is also known for providing attractive yields on its various account options without charging monthly maintenance or service fees. Savings Connect: Savings Connect has one of the best bank account yields at 3.65% APY. Platinum Savings: Platinum Savings has an outstanding yield when you maintain a balance of $5,000 or more (3.75% APY) and a much lower yield when you don’t (0.25% APY). Savings Builder: Savings Builder yields up to 1.00% APY for account holders who can meet minimum balance or deposit requirements. CIT MMA: The CIT Bank Money Market account offers a good yield on all balances (currently 1.55% APY) with no monthly maintenance or service fees. CIT CDs: Multiple CIT Bank CDs offer above-average yields. CIT Bank waives early withdrawal fees on its No Penalty CD products, which can significantly reduce the cost of accessing your funds before the maturity date. Read Our Review: CIT Bank Review Platinum Savings is a tiered interest rate account. Interest is paid on the entire account balance based on the interest rate and APY in effect that day for the balance tier associated with the end-of day account balance. *APYs — Annual Percentage Yields are accurate as of July 1, 2026: 0.25% APY on balances of $0.01 to $4,999.99; 3.75% APY on balances of $5,000.00 or more. Interest Rates for the Platinum Savings account are variable and may change at any time without notice. The minimum to open a Platinum Savings account is $100. Based on comparison to the national average Annual Percentage Yield (APY) on savings accounts as published in the FDIC National Rates and Rate Caps, accurate as of February 17, 2026. APY — Annual Percentage Yield is accurate as of July 1, 2026. Interest Rates for the Savings Connect Account are variable and may change at any time without notice. The minimum to open a Savings Connect account is $100. Fees could reduce earnings on the account. APY — Annual Percentage Yield is accurate as of July 1, 2026. $1,000 minimum to open the account. With a No-Penalty CD, you may withdraw the total balance and interest earned, without penalty, beginning 7 days after funds have been received for your CD. No withdrawals are permitted during the first 6 days following the receipt of funds. For complete list of account details and fees, see our Personal Account disclosures . GO2bank: Best for Debit Card Rewards Our Rating: 3 / 5 Savings: Up to 4.50% APY 2 Features: Credit building, high-yield savings, cash deposits at local retailers GO2bank is an online bank with a mobile-friendly bank account (no monthly fee with eligible direct deposit) and impressive yields on savings (4.50% APY 2 on savings up to $5,000), and pays up to 7% cash back on eGift card purchases 1 . Eligible electronic gift card purchases in the app earn up to 7% cash back. No minimums: GO2Bank has no minimum opening deposit or ongoing balance requirement. No monthly fee: Avoid the $5 monthly fee with an eligible direct deposit. Early direct deposit: Get paid up to two days early with ASAP Direct DepositTM 3 Widespread cash deposits: Deposit cash at thousands of participating retail stores; this may be subject to fees and deposit limits. Opt-in overdraft protection: Enjoy up to $200 in overdraft protection with opt-in and eligible direct deposit*. Leading yield on eligible balances: Earn 4.50% APY paid quarterly on savings up to $5,000 — over 10 times the national average savings rate 2 Read Our Review: GO2Bank Review Terms and conditions apply. *a $15 fee may apply to each purchase transaction not repaid within 24 hours of authorization of the first transaction that overdrafts your account. Overdrafts are paid at GO2bank’s discretion. 1 Active GO2bank account is required to receive an eGift Card. eGift Card merchants are subject to change. 2 GO2bank, Member FDIC. Interest is paid quarterly on the average daily balance of savings during the quarter up to a $5,000 balance and if the account is in good standing at 4.50% Annual Percentage Yield (APY) as of September 2024. APY may change before or after you open an account. The FDIC determines the average national savings account interest rate.Visit https://www.fdic.gov/regulations/resources/rates/ to learn more. Fees on your primary deposit account may reduce earnings on your savings account. 3 Direct deposit early availability depends on the timing of the payor’s payment instructions, and fraud prevention restrictions may apply. As such, the availability or timing of early direct deposit may vary from pay period to pay period. The name and Social Security number on file with your employer or benefits provider must match your GO2bank account exactly, or GO2bank will decline your deposit. Quontic: Best for Savers Our Rating: 1 / 5 Savings: 4.00% APY (4.75% money market) CDs: 6 months to 5 years Features: Pay ring, interest on checking account, cash rewards checking, unique mortgage programs Quontic Bank started as a New York City community bank that catered to thrifty types. The bank offers diverse, fee-free, high-yield banking options and innovative features nationwide. Today, Quontic’s branch-based banking options represent just a small fraction of its offerings. With a nationwide digital footprint, Quontic delivers category-leading checking and savings yields for consumers and small-business owners from all walks of life — all with no monthly service fees: Cash Rewards Checking: Earn unlimited 1.0% cash back on qualifying debit card transactions after meeting the $100 minimum opening deposit. High Interest Checking : Make 10 or more qualifying debit card point-of-sale transactions of at least $10 per statement cycle to earn interest at competitive rates based on account balance. The minimum opening deposit is $100. High Yield Savings : Earn interest at category-leading rates (currently 4.00%) after meeting the $100 minimum opening deposit. Money Market : Earn solid yields (currently 4.75%) after meeting the $100 minimum. CDs : Quontic CDs have terms ranging from six months to three years and competitive yields. The minimum opening deposit is $500. Early withdrawal penalties may apply. Quontic introduced the first wearable debit card, the Quontic Pay Ring, for convenient tap-to-pay transactions. The bank also provides various home loans, including special loans for foreign nationals and recent immigrants. Read Our Review: Quontic Bank Review Ally: Best for Savings Goals Savings: 3.85% APY CDs: 3 months to 5 years Features: Savings buckets, extensive ATM network, no monthly maintenance fees Ally Bank is a full-service online bank. It has low minimum deposit requirements and doesn’t charge monthly maintenance fees. Ally Bank offers high yields, low minimums, and exceptional savings buckets to help you save for various goals. Its deposit accounts include: Savings: Earn 3.85% APY on all balances, use savings buckets to organize your savings, and create boosters with round-ups and recurring transfers Money Market: Earn 3.85% APY on all balances, use the Allpoint ATM network to access your funds for free and deposit checks remotely Spending: No monthly maintenance fees and up to $10 in non-network ATM reimbursements, get early access to direct deposit and have access to overdraft protection Read Our Review: Ally Bank Review EverBank (Formerly TIAA): Guaranteed High Rates Savings: 5.00% intro rate, then 4.50% CDs: 3 months to 5 years Features: Interest-bearing deposit accounts, no hidden fees, ATM reimbursements, MMAs If you want reassurance you have the highest APYs, EverBank offers a yield pledge that promises to pay within the top 5% of the most competitive yields available. EverBank is a premium banking service for consumers and businesses, offering many great products for consumers including:

Yield Pledge Checking: Pay no monthly maintenance fee, make mobile check deposits, and access to Zelle and online bill pay while earning 0.25% on any balance Yield Pledge Money Market: Pay no monthly maintenance fee, have access to your funds with checks and a debit card, and earn an intro 4.75% APY on any balance, with no opening balance requirement Yield Pledge Online Savings: With no minimum required opening balance and no monthly maintenance fees, it’s easy to save with the 5.00% APY paid on the EverBank savings account CDs: Terms are available from 3 months to 5 years with no monthly maintenance fee and a 20-day advance notice regarding maturity and rates range from 3.95% to 5.25% Read Our Review: EverBank (formerly TIAA) Bank Review Capital One 360: Best for Online and In-person Banking Savings: 4.25% APY CDs: 6 to 60 months Features: No minimum deposit or balance requirements, easy-to-use mobile app, Zelle, 2,000 ATMs If you love being able to pop into the bank when you need in-person service but want the benefits of online banking, Capital One 360 provides the best of both worlds with 750 branches and 2,000 ATMs. Capital One 360 is a great online high-yield bank with the benefit of in-person branches if you’re lucky enough to have a Capital One 360 branch or cafe near you. Capital One offers the following accounts: 360 Performance Savings: There are no monthly maintenance fees or required balance, and you can earn 4.25% APY, use mobile check deposit, and set up automatic savings plans 360 Checking: Access to 70,000+ fee-free ATMs, no monthly minimums, and no monthly fee; get paid early via direct deposit and add cash to your account at many retailers 360 CDs: Capital One has CDs with various terms, no minimum balance required, and you can get paid interest monthly, annually, or at the end of the term Kids’ savings: Help kids earn interest and make their money grow with 0.30% APY with no fees or minimum balance required MONEY Teen Checking: Open a joint checking account with your teen and help him learn how to manage money while having parental controls to ensure good money habits, all with no fees or minimum requirements Read Our Review: Capital One 360 Review LendingClub: Best Rewards Checking Savings: 4.50% APY CDs: 6 months to 5 years Features: FDIC insured, no monthly fees, the option to earn cash back, high yields LendingClub isn’t just for loans, they have robust banking products too including high-yield savings, rewards checking, and CDs. LendingClub has robust options for consumers looking for banking products that pay high interest rates and don’t charge monthly maintenance fees: High-yield savings: With $100 opening balance requirements, no monthly fees, and a free ATM card, earning 4.50% on your savings is a great way to reach your financial goals Rewards checking: Get unlimited 1% cash back on debit card purchases, pay no monthly fees, and get reimbursed for non-network ATM transactions while earning interest of 0.15% APY CDs: Earn 4.00% to 5.50% on CDs of various terms ranging from 6 months to 5 years Read Our Review: LendingClub Review Varo Bank: Great Customer Service Savings: Up to 5.00% APY Features: 40,000 fee-free ATMs, Zelle, cashback on purchases made with your debit card, and no monthly fees Varo Bank offers a little bit of everything with opportunities for cashback, high APYs, early access to direct deposit, and no hidden fees Varo Bank is an online bank but with a robust ATM network. They have only a few accounts, but they offer robust features that make it easy to grow your money. Checking: No monthly fees, no overdraft fees, early access to direct deposit, and 40,000 fee-free ATMs Saving: Earn up to 5% APY on up to $5,000 with no fees and opportunities for automatic round-ups for more savings Build Credit: Easily build credit with your own money and a secured Varo Believe card, with no interest and no fees, but with the opportunity to build a solid credit score with regular use Read Our Review: Varo Bank Review What is Online Banking? Online banking is like traditional banking, except you conduct transactions online or at an ATM. Some banks allow you to deposit cash at local retailers, but be careful because there are sometimes fees. The nice thing about online banking is you can bank 24/7; you don’t have to worry about traditional bank hours. You can electronically transfer funds, deposit checks with the bank’s mobile app, and use a bank’s unique features. Advantages of Online Banks If you’re weary of banking online, check out the advantages you can take advantage of: Little to no fees Unique features, such as round-ups and savings buckets Automatic savings transfers Automatic bill pay Access 24/7 via online or a mobile app Online Banking vs. Traditional Banking So what’s the difference between online and traditional banking? It comes down to where you bank, either from your couch or the bank teller’s counter. Physical banks have tellers, but you can only bank during their hours and must visit the bank in person. However, many traditional banks offer online services today, too. Online banking offers the same services, but from your home or anywhere you have an internet connection. The toughest thing about online banking is how you deposit or withdraw cash. Some of the best online banks have a robust ATM network that allows you to handle cash, but not all do, so always find out first. Are Online Banks Safe? Always choose an FDIC-insured online bank that uses safety features, such as two-factor authentication and bank-level encryption. If a bank is FDIC-insured, your funds are protected up to $250,000 per depositor should the bank close. How to Choose the Best Online Bank When choosing an online bank, consider these factors: How much does the account cost? Look for no-fee bank accounts. What is the minimum opening deposit, and can you meet it? What are the ongoing balance requirements? How convenient is the ATM network? Does the bank reimburse non-network ATM fees? Does the bank pay interest? If so, how much? How to Open an Online Bank Account As you probably guessed, you can open an online bank account online. You’ll need basic information such as your name, address, birth date, and Social Security number. You must also upload a government-issued ID to prove your identity. Once you open the account, you’ll link an external account to fund it, or you may be able to deposit cash at a local ATM. Methodology: How We Select the Best Online Banks We use several key factors to evaluate and find the best online banks, including the following: Available account types Account minimums Monthly maintenance fees Other account fees Investment and tax-advantaged options Credit building options Budgeting and money management features Online Banking FAQs Still, have questions about online banks and managing money online? We have answers. How Much Does Online Banking Cost? Online bank rates, yields, and fees are subject to change at banks’ discretion. Check their websites or call customer service for up-to-date information about specific accounts and bank policies. Online banks are generally more affordable than traditional banks. They’re less likely to charge monthly maintenance fees on checking and savings accounts, and many have fewer hidden fees, too. What’s the Interest Rate on an Online Bank Account? That also depends on the individual bank, but many online accounts feature higher yields than traditional banks. Online banks have less overhead than traditional banks, and they don’t need to pay to keep big, centrally located branches open or pay people to work at them. Their operations are more efficient, which allows them to pass the savings on to customers via higher rates and lower fees. How Do You Enroll in Online Banking? It depends on the bank and its website or app structure, but it’s usually straightforward. In fact, with an online-only bank, enrollment is usually automatic. You don’t have to complete a separate application or even click a button to activate your account. However, you must create a unique username and password to get started. You may be asked to do this as part of the initial application process or once your account is approved. You’ll also need to link at least one external funding source to transfer money into your account. Can You Get a Mortgage From an Online Bank? Some online banks offer home loans (mortgages) and other credit products. These banks are larger online banks with high name recognition, like Ally Bank and Capital One Bank. Look for a “Mortgages” or “Home Loans” tab on the homepage or your account dashboard. Be aware that some online banks outsource mortgage origination to other companies. In other words, if you apply for a mortgage through your bank, your loan officer might work for someone else. This isn’t necessarily a bad thing, but it could mean a different level or style of service than you’re used to. And don’t expect your online bank to offer better mortgage rates than other lenders. The mortgage loan business is highly competitive, and direct lenders with even lower overhead may be able to undercut online banks. Finding the Best Online Banks The best online banks on this list offer a great combination of FDIC-insured banking products, solid yields, open access, and helpful customer service. Before choosing one, look closely at the features that set it apart from the competition: rewards checking, flexible withdrawal terms for CDs, particularly high account yields, a socially responsible corporate philosophy, and so on. Editorial & Advertiser Disclosure : The editorial content on this page is not provided, commissioned, reviewed, approved, or otherwise endorsed by any advertiser. Opinions expressed here are ours alone, not those of any advertiser. The offers that appear on this site are from companies that compensate us. That compensation may influence which products we cover and where and how they appear on a page – including the order in which they appear – but it does not influence our evaluations, ratings, or opinions. We do not include every company or offer available in the marketplace.