Our Best Online Checking Accounts March 2025

Why Open an Online Checking Account?

An online checking account beats a traditional checking account for the same reason as email beats the postal system and online shopping beats brick-and-mortar stores. Online checking accounts are based on traditional checking accounts, but with more convenience, less cost, and less hassle.

Online checking accounts have been around since the early days of the internet, but at first were quite limited in terms of functionality. In recent years online checking accounts have become more sophisticated. In fact, many online checking accounts now include a free mobile app that lets people do their banking from their phone. 

These days, consumers can do virtually all their banking online or on their mobile banking app, from bank-to-bank transfers, to depositing checks, to scheduling bill payments. Many online banks even offer add-ons like ID theft insurance, roadside assistance, and retail rewards programs.

How to Compare Online Checking Accounts

No 2 checking accounts are equal, so it’s worth doing a comparison shop before settling on an online bank. The following is a checklist of things to focus on when comparing the best online banking companies.

• Monthly Fee: Some online checking accounts come with no monthly fees while others come with a flat monthly fee (typically ranging from $1 to $50). Typically, banks agree to waive the monthly fee if the customer keeps their balance above a minimum amount (e.g. $1,000 or $10,000). Always ask what you’re getting for your fee. For a basic checking account, there shouldn’t be any fee. For an account that’s packed with features, a fee is considered acceptable.
• Additional Fees: Online banks always charge a fee for international transfers and some also charge for domestic transfers. Most online banks offer free ATM withdrawals from their own ATMs and reimbursements from third-party ATMs.  

• Customer service: Some online banks have physical branches, while others operate exclusively online. Some offer personalized customer service (usually for a monthly fee) while others make you wait on the phone with everyone else. Some offer live chat straight from your online or mobile bank account, others don’t. Many online banks offer round-the-clock customer service.

• Savings accounts: Some banks only offer checking accounts. Others offer a selection of checking accounts, savings accounts

  , and certificates of deposit. Better yet, some banks offer hybrid checking-savings accounts that let the customer simultaneously have everyday access to their account and save money.

  
  

• Credit or debit cards: Like regular checking accounts, online checking accounts usually come with the option of linking a credit or debit card to the account. Online banks are increasingly offering customers a choice of credit card plans, each with a different rate and different set of features and benefits.

• Loans: Another benefit of opening an online checking account  is it can give you easy access to loans. Depending on the bank, there may be personal loans, home loans, auto loans, and many other types of lending products. Online loans offer the same benefits as online checking accounts: greater convenience, lower fees, and quicker applications.

Our Top Online Checking Account as of Mar 23rd 2025

Sponsored offer

Bank	APY/Rewards Earning	Minimum Balance	Explore
	3.80%	None	Visit Site

What Services do Online Checking Accounts Offer?

Online checking accounts offer all the same functions as traditional checking accounts—and more. Online checking accounts have revolutionized banking, allowing users to do everything they would have previously done in-branch from the comfort of their own home, or from on the go.

Here are some of the features usually offered with an online checking account:

• Domestic and international wire transfers - Send and receive money between your account and another person’s account.
• Transfer money between accounts - Transfer money between your own checking and savings accounts.
• Multiple account integration- Keep your accounts organized and easy to access.
• Bill payment - Stay on top of your bills and set reminders so you never miss a beat.

• Digital check deposit - Instantly scan and deposit a check with your smartphone and get access to the funds straight away. 

• Digital/downloadable account statements - Great for managing your budget, and for instantly sending records to your accountant.

• Mobile banking app - Manage your accounts from your mobile device.

• Mobile payments - Make purchases straight from your account with Google Pay, Apple Pay, or Samsung Pay.

• Sophisticated security and encryption - Keep your data safe with multi-factor authentication and extra-strong encryption.

• FDIC Insurance - Deposits insured up to at least $250,000 (and sometimes as high as $1.5 million, depending on the bank).

• SMS / email alerts - Notifications whenever any unusual or suspicious activity occurs in relation to your bank account.

• ATMs - Withdraw money from thousands of ATMs in the US and around the world, and get reimbursements from third-party ATM withdrawals.

• Credit card rewards - Get points for making purchases with your account-linked credit card

Explore Leading Online Checking Account

Sponsored offer

SoFi Checking & Savings

SoFi is an online bank founded in 2011. It provides a variety of banking services, including credit cards, mortgages, investments, loans, and of course, bank accounts. SoFi Checking and Savings provides a competitive APY, and when you open this savings account, you automatically get a checking account too. The accounts are FDIC-insured, and you can access them at any time through the mobile app.

SoFi® Checking & Savings Visit Site

VaroMoney  Disclaimer:

1. Fees apply to loans and out of network withdrawals & cash deposits.

2. We give access to direct deposits from employer & government payers on the day we receive them, typically up to 2 days earlier than your scheduled pay date.

3. Annual Percentage Yields (APY) are accurate as of December 1, 2022. Rates may change at any time without prior notice, before or after the account is opened. You can earn 5.00% on your first $5,000 if you meet these requirements: Make sure that you Varo account balances are above or equal to $0 at the close of the month. Receive total direct deposits of $1,000 or more each qualifying period. Additional balances over $5,000 will earn 2.50% APY. The requirements must be met within the Qualifying Period which begins on the first calendar day of the month and ends at the close of business (4:25 pm MST/ 3:25 pm MDT) on the last business day of the month. Meet the requirements in the current month to qualify to earn 5.00% APY for the following month. Qualifying direct deposits are electronic deposits of your paycheck, pension or government benefits (such as Social Security or unemployment) from your employer or government agency. Tax refunds and government stimulus payments, Person-to-Person payments (such as Venmo) and funds deposited using a Varo routing number are not considered a direct deposit. Be aware that interest is paid in whole cents only.

Chime Disclaimers

Chime is a financial technology company, not a bank. Banking services and debit card provided by The Bancorp Bank or Stride Bank, N.A.; Members FDIC. Chime Checking Account is required to be eligible for a Savings Account.

* Out-of-network ATM withdrawal fees may apply except at MoneyPass ATMs in a 7-Eleven, or any Allpoint or Visa Plus Alliance ATM. Cash deposit or other third party fees may apply.

*Eligibility requirements apply. Overdraft only applies to debit card purchases and cash withdrawals. Limits start at $20 and may be increased up to $200 by Chime. See chime.com/spotme.

^Early access to direct deposit funds depends on the timing of the submission of the payment file from the payer. We generally make these funds available on the day the payment file is received, which may be up to 2 days earlier than the scheduled payment date.

⁺The Annual Percentage Yield (“APY”) for the Chime Savings Account is variable and may change at any time. The disclosed APY is accurate as of October, 25th, 2022. No minimum balance required. Must have $0.01 in savings to earn interest.

Banking services and debit card provided by The Bancorp Bank N.A. or Stride Bank, N.A., Members FDIC, pursuant to a license from Visa U.S.A. Inc. and may be used everywhere Visa debit cards are accepted.

Upgrade Disclaimers

Upgrade is a financial technology company, not a bank. Rewards Checking Plus services provided by Cross River Bank, Member FDIC. Upgrade VISA ® Debit Cards issued by Cross River Bank, Member FDIC, pursuant to a license from Visa U.S.A. Inc.

¹ Rewards Checking Plus customers who set up monthly direct deposits of $1,000 or more earn 2% cash back on common everyday expenses at convenience stores, drugstores, restaurants and bars - including deliveries - and gas stations, as well as recurring payments on utilities and monthly subscriptions including phone, cable, TV and other streaming services, and 1% cash back on all other debit card purchases. 2% cash back is limited to $500 in rewards per calendar year; after $500, customers earn 1% cash back on all eligible debit card purchases for the remainder of the year. Rewards Checking Plus accounts with less than $1,000 in monthly direct deposits 60 days after account opening will earn 1% cash back on common everyday expenses and 0.50% cash back on all other eligible debit card purchases. Some limitations apply. Please refer to the applicable Upgrade Visa® Debit Card Agreement and Disclosures for more information.
² There are no overdraft fees or annual fees. Optional out-of-network ATM withdrawals are subject to a fee of $2.50, plus any third-party fees. Debit card transactions with merchants outside the U.S. or in a foreign currency are subject to a 3% fee. Outbound domestic wire transfers are subject to a fee of $20 after your first fee-free transfer per calendar month. Please refer to the applicable Cross River Bank Checking Deposit Account Agreement and Upgrade Visa® Debit Card Agreement and Disclosures for more information.
³ Early direct deposit requires set up of recurring electronic direct deposit from your employer, payroll, or benefits provider and is limited to direct deposits under $5000. Early access to direct deposit funds depends on the timing in which we receive notice of impending direct deposit, which is generally up to two days before the scheduled deposit date.

Bank of America Disclaimer:

The offer is for new checking customers only. Offer expires 5/31/2025. To qualify, open a new eligible Bank of America Advantage Banking account through the promotional page and set up and receive Qualifying Direct Deposits* totaling $2,000 or more into that new eligible account within 90 days of account opening. Bank of America Advantage SafeBalance Banking® for Family Banking accounts are not eligible for this offer. Once all requirements are met, Bank of America will attempt to pay bonus within 60 days. Additional terms and conditions apply. See offer page for more details

*Qualifying Direct Deposits are direct deposits of regular monthly income - such as your salary, pension or Social Security benefits, which are made by your employer or other payer - using account routing numbers that you provide them.

SoFi Disclaimer:

*Terms Apply
New and existing Checking and Savings members who have not previously enrolled in Direct Deposit with SoFi are eligible to earn a cash bonus of either $50 (with at least $1,000 total Direct Deposits received during the Direct Deposit Bonus Period) OR $300 (with at least $5,000 total Direct Deposits received during the Direct Deposit Bonus Period). Cash bonus will be based on the total amount of Direct Deposit. Direct Deposit Promotion begins on 12/7/2023 and will be available through 1/31/2026. See full bonus and annual percentage yield (APY) terms at sofi.com/banking#1.

SoFi members who enroll in SoFi Plus with Direct Deposit or by paying the SoFi Plus Subscription Fee every 30 days or with $5,000 or more in Qualifying Deposits during the 30-Day Evaluation Period can earn 3.80% annual percentage yield (APY) on savings balances (including Vaults) and 0.50% APY on checking balances. There is no minimum Direct Deposit amount required to qualify for the stated interest rate. Members without either SoFi Plus or Qualifying Deposits, during the 30-Day Evaluation Period will earn 1.00% APY on savings balances (including Vaults) and 0.50% APY on checking balances. Only SoFi Plus members are eligible for other SoFi Plus benefits. Interest rates are variable and subject to change at any time. These rates are current as of 1/24/25. There is no minimum balance requirement. Additional information can be found at http://www.sofi.com/legal/banking-rate-sheet. See the SoFi Plus Terms and Conditions at https://www.sofi.com/terms-of-use/#plus.

We do not charge any account, service or maintenance fees for SoFi Checking and Savings. We do charge a transaction fee to process each outgoing wire transfer. SoFi does not charge a fee for incoming wire transfers, however the sending bank may charge a fee. Our fee policy is subject to change at any time. See the SoFi Checking & Savings Fee Sheet for details at http://www.sofi.com/legal/banking-fees/

Additional FDIC Insurance - SoFi Bank is a member FDIC and does not provide more than $250,000 of FDIC insurance per depositor per legal category of account ownership, as described in the FDIC’s regulations. Any additional FDIC insurance is provided by the SoFi Insured Deposit Program. Deposits may be insured up to $3M through participation in the program. See full terms at SoFi.com/banking/fdic/sidpterms. See list of participating banks at SoFi.com/banking/fdic/participatingbanks. 

OnePay Cash Disclaimer:

OnePay is a financial technology company, not a bank. Banking services provided by Coastal Community Bank or Lead Bank, Members FDIC. OnePay Debit Card is issued by banking partners Coastal Community Bank or Lead Bank, Members FDIC, pursuant to a license by Mastercard® International Incorporated.

1. 3.75% annual percentage yield (APY) applies to the Savings balance of OnePay Cash accounts that have either (i) received $500+ of Direct Deposits in the current or previous month or (ii) have a balance of $5,000+ at the end of the previous month. 3.75% APY is also earned on Pay Autosave balances without deposit or balance requirements. 3.75% APY is limited to a total Savings balance of up to $250,000. All other Savings balances will earn 1.00% APY. APYs are as of 12/20/2024, but may change at any time before or after account opening. 

2. Cash back is earned as OnePay Points, redeemable as a deposit into a OnePay Cash account pursuant to the OnePay Rewards Terms. Only applies to OnePay Cash accounts that have either (i) received Direct Deposits totaling $500+ in the current or previous month, or (ii) have a balance of $5,000+ as of the last day of the previous month. This reward applies to purchases at U.S. Walmart locations and on Walmart.com only and may not be combined with other OnePay Cash promotions for cash back at Walmart.

3. Only applies to deposits and withdrawals with a OnePay Cash debit card made at Walmart Money Centers, cashiers, or Customer Service desks.

4. Tax refunds may be available up to 5 days in advance of the scheduled payment day, but access to funds depends on when the payer sends refund data.

5. Available to OnePay Cash accounts that have either (i) received Direct Deposits totaling $500+ in the current or previous month, or (ii) have a balance of $5,000+ as of the last day of the previous month. You must be 18 or older to receive Overdraft Protection. When on, Savings Backup will be used before Overdraft Protection. Overdraft balance is due right away. Transactions eligible for Overdraft Protection are at the discretion of OnePay and may exclude certain transactions (e.g., bill pay, global transfers). See details. 

6. Only applies to OnePay Cash accounts that have either (i) received Direct Deposits totaling $500+ in the current or previous month, or (ii) have a balance of $5,000+ at the end of the previous month. For all other ATM transactions the OnePay ATM Fee will apply and third-party ATM fees may be incurred.

E*TRADE Max-Rate Checking Disclaimer:

1. As of 03/23/2025, the Annual Percentage Yield (APY) of the Max-Rate Checking Account is 3.00%. Your interest rate and APY may change at any time and fees may reduce earnings. Please visit etrade.com/ratesheet for information regarding this account's current interest rate and corresponding APY.

2. The $15 monthly account fee can be waived when you maintain an average monthly balance of at least $5,000 in the account on or after the end of the second calendar month from opening the account.

3. With Max-Rate Checking, Morgan Stanley Private Bank, National Association ("Morgan Stanley Private Bank") will not charge you a fee for withdrawing funds from any institution's ATM but the owner/operator of the ATM may charge a fee. In those cases, we will refund ATM fees charged worldwide. For additional information and important details about how the ATM fee refund will be applied, please visit the etrade.com/rateandfee for more details.

4. Morgan Stanley Private Bank imposes a charge equal to 1% of the transaction amount (including credits and reversals) for non-U.S. currency transactions charged. With Max-Rate Checking, we will refund fees charged for foreign transactions made with your debit card. Refer to the etrade.com/rateandfee for more details.

5. Deposits held in checking accounts are FDIC insured up to $250,000. Learn more.