We propose the most delicate items through an independent evaluation process, and advertising does not influence our recommendations. If you visit one of the partners we recommend, we may be compensated. For more information, see our advertiser disclosure. An online checking account is an excellent option for low-cost, convenient banking. Fees are kept to a minimum, meaningful (and occasionally unique) features are provided, and your money is protected by federally-backed deposit insurance. Despite the overwhelming number of options available, we've highlighted some of the top accounts that can help you manage your day-to-day finances online. We studied over 150 banks and credit unions that provide online checking accounts, and the following categories stood out:
- Best Overall
- Runner-Up
- Best for Fees
- Best for Annual Percentage Yield (APY)
- Best for Rewards
- Best for ATM Access
- Best for Customer Service
- Best Bonus Offer
Best Online Checking Accounts
| Bank or Credit Union | Why We Picked It | Monthly Fee | APY |
| Discover Bank | Best Overall, Best for ATM Access | None | 0% |
| Ally Bank | Runner-Up | None | 0.10% (under $15,000) to 0.50% (above $15,000) |
| nbkc Bank | Best for Fees | None | 0.80% |
| Consumers Credit Union | Best for APY | None | Up to 4.09% (Capped at $10,000) |
| Evansville Teachers Federal Credit Union | Best for Rewards | None | Up to 3.30% (Capped at $20,000) |
| Charles Schwab Bank | Best for Customer Service | None | 0.03% |
| Chase Bank | Best Bonus Offer | $12, with waivers available | 0% |
Discover Bank: Best for ATM Access and Best Overall
Discover Bank's Cashback Debit account is difficult to go wrong. This account has no minimum initial deposit or recurring balance requirements, and Discover doesn't impose any monthly fees. Discover Bank maintains its fees low overall, charging nothing for regular checks, expedited replacement card delivery, insufficient funds, and official bank checks. Discover's online checking account offers 1% cash back on qualifying debit card transactions up to $3,000 per month if you're a fan of incentives. You can earn up to $360 each year if you optimize your incentive. Discover Bank's live customer support line is open 24 hours a day, 7 days a week, to receive assistance whenever you need it. Customers can also access more than 60,000 fee-free ATMs around the country, thanks to the addition of the Allpoint and MoneyPass networks. Finally, you may use the app to freeze your debit card and deposit paper checks, among other things. In J.D. Power's 2020 U.S. Direct Banking Satisfaction Study, Discover is ranked among the top three banks. Although the Cashback Debit account does not pay interest, it is a checking account for everyday spending. Look into Discover Bank's online savings account or explore our list of the best banks for savings accounts if you want to earn interest on your spare cash.- What We Like
- There are no fees for products that other banks charge
- A unique debit card reward
- What We Don't Like
- No interest earnings
Ally Bank: Runner-Up
For some years, Ally Bank has been a leader in online banking, allowing the bank many opportunities to improve its service. The Interest Checking account from Ally Bank is a simple-to-use account with no monthly maintenance fees. You can open a checking account with no minimum deposit, earn a little interest on your balance, and regular checks are always free. Ally Bank provides customer service representatives available 24 hours a day, 7 days a week. The J.D. Power 2020 U.S. Direct Banking Satisfaction Study gives Ally high marks, and the bank's mobile app came out on top in our study of banking apps. Customers can use any of the 43,000 Allpoint ATMs without paying a fee. Ally Bank will also reimburse you up to $10 in ATM fees paid to other banks.- What We Like
- Excellent technology for a smooth user experience
- Earn a small amount of interest
- What We Don't Like
- A basic account with no remarkable perks or rewards.
nbkc Bank: Best for Fees
Although it's not difficult to obtain an online checking account with no monthly fees, you may still be charged for account activity. Fees are minimal at nbkc Bank, and your checking account balance is paid at a reasonable rate. There are no monthly fees, no fees for returned (bounced) payments, no fees for overdrafts or insufficient funds, no fees for stop payments, and no fees for wire transfers at nbkc. This should pique your interest if you're tired of being nickeled and dimed. Furthermore, if you cannot locate one of nbkc's 32,000 accessible ATMs, the bank will reimburse you for ATM costs paid to other banks (up to $12 per month). There is no minimum deposit requirement; thus, anyone can use this account. If you prefer mobile banking, nbkc's app allows you to deposit checks, set up alerts, etc.- What We Like
- Hard to pay fees in this account
- What We Don't Like
- Limited hours for customer service
Consumers Credit Union: Best for APY
As of late July, Consumers Credit Union offered one of the highest checking account rates currently available. This is a "rewards" checking account, which means you must meet certain conditions to get the best rate. However, Consumers Credit Union has numerous incentive tiers, allowing you to earn a tiny amount of money if you don't satisfy all of the requirements—and the maximum rate if you do. The rate is suitable for balances up to $10,000, and you must meet the following criteria:- Every month, you make 12 debit card purchases.
- Electronic communications and statements
- Monthly deposits of $500 or more, including mobile check deposits
- Spending $1,000 or more on your debit card
- What We Like
- Participates in CO-OP shared branching
- pays a remarkably high rate.
- What We Don't Like
- Meeting monthly requirements may be a challenge
Evansville Teachers Federal Credit Union: Best for Rewards
Evansville Teachers Federal Credit Union's Vertical Checking account is a reward checking account. It's unique in that it pays a competitive rate on a rather large balance—earn up to $20,000 at the highest rate. Many banks have lower capital requirements. To get the best pricing, you must accomplish the following tasks:- 15 debit card purchases per month
- Every month, at least one direct deposit
- Enroll in electronic messaging.
- At least once a month, log in to your account.
- What We Like
- Monthly ATM rebates of up to $15
- Progress tracking is rewarded in the app.
- What We Don't Like
- Relatively limited ATM network
Charles Schwab Bank: Best for Customer Service
Everything must run smoothly because your checking account is the nerve center of your daily finances. When problems arise, they should be few, and whatever is wrong should be simple to fix. Charles Schwab Bank should be able to help you avoid service troubles thanks to its top position in J.D. Power's 2020 U.S. Direct Banking Satisfaction Study. There are no monthly fees or minimum balance requirements with the Schwab Bank High Yield Investor Checking account. There's also no need to keep track of an ATM network because Schwab offers unlimited ATM charge rebates. This applies to ATM fees both domestically and internationally, and Schwab does not charge a foreign transaction fee when you use your debit card outside of the United States. Schwab's app provides all of the features you'd expect, including mobile check deposits.- What We Like
- Generous ATM fee rebates
- Excellent for global travel
- What We Don't Like
- A Schwab One brokerage account is also required.
Chase Bank: Best Bonus Offer
Despite Chase Bank being a physical location, you can open and utilize the Total Checking account entirely online. In addition, if you meet specific criteria, you may be eligible for a $200 incentive. While more significant bonuses may be available elsewhere, this is one of the most accessible deals available in the United States. A monthly service cost of $12 is possible with the Total Checking account. However, you can avoid paying the fee if you meet one of the following criteria: a monthly direct deposit of at least $500, a daily amount of at least $1,500, or a daily balance of at least $5,000 in qualified Chase accounts. There is no minimum first deposit, but you must deposit to be eligible for the bonus and avoid fees. Customers of Chase Bank have access to 16,000 ATMs and over 4,700 locations. With the mobile app, you can pay bills, deposit checks, lock your card, and more. You may anticipate an online experience comparable to the most significant internet-only institutions with a large bank's resources.- What We Like
- Branches with a significant physical footprint are available.
- What We Don't Like
- Potential monthly fee
Benefits of Online Checking Accounts
Overall, opting for internet banking over a bank with local or national branches has both advantages and disadvantages:- No need to visit a branch when you can open your account online or using an app.
- There are numerous solutions available with no monthly fees.
- Regardless of where you are, choose the most important characteristics to you.
- Interest earnings and awards that frequently outperform national bank chains
- Some banks offer extended customer service hours.
Drawbacks of Online Checking Accounts
- Outages and technical difficulties are a possibility (typically temporary)
- There is no one-on-one assistance or problem-solving.
- When ordering official checks and money orders, you must wait for mail delivery.
- It may be difficult or impossible to make a cash deposit.
- You'll want to be certain you're working with a respected firm.
How Should You Choose an Account?
Because your checking account is one of the accounts you'll use the most, it's critical to have the services you require. Examine how you spend and save money and your current checking account to determine what you enjoy the most (and least).Fees
Paying monthly fees in an online checking account makes no sense. Many solutions are available with no monthly maintenance fees or straightforward fee exemptions. Consider how you use your account: Do you occasionally order official checks or overdraw your account? If this is the case, check for banks and credit unions that can assist you in lowering your account's charges as you utilize it.Customer Service
Choose a bank that will make things easier for you. Every bank makes mistakes, but it's wise to avoid banks where the negative customer evaluations outnumber the positive ones. In addition, life periodically throws us curveballs that necessitate the assistance of bank employees. Examine your customer care alternatives, including live chat, secure messaging, and phone assistance. Is customer service available at convenient times, and how easy is it to contact someone?Features
Decide what's most important in your following checking account, and verify that you can get what you need. ATM access:On your balance, certain online checking accounts offer interest. While that's always good, it shouldn't be the most important consideration in your decision. You may maximize your earnings by transferring idle income to a savings account, which also helps you avoid the desire to spend all of your money. Interest earnings: On your balance, certain online checking accounts offer interest. While that's always good, it shouldn't be the most important consideration in your decision. You may maximize your earnings by transferring idle income to a savings account, which also helps you avoid the desire to spend all of your money. Rewards: Some people are enthralled by prizes, and if all other factors are equal, it might make sense to choose a bank that offers them. However, some benefits will make or break your financial situation ($360 per year from Discover isn't going to make or break you). Other benefits, such as high-interest rates, may entail significant requirements, such as using your debit card a certain number of times each month. Other features: Most bank accounts allow you to deposit checks using your phone, but it's important to double-check this if you ever get checks. Similarly, you may feel that the option to freeze your debit card or receive account updates via text messaging is essential. After you've narrowed down your selection of candidates, compare these details to find your ideal online bank.Additional Bank Offerings
When comparing checking accounts, keep in mind the other services provided by each bank. Having your checking account, savings account, and CDs at the same bank could make life easier. While this isn't a requirement—entirely, it's simple to move funds from one bank to another via the internet—one-stop shopping helps simplify passwords and recordkeeping.How We Chose the Best Accounts
We began with a universe of more than 150 online checking accounts available to users across the United States. After that, we concentrated on the best options. Low fees (or a charge waiver that is reasonably achievable) are essential, and we chose institutions that are most likely to make your day-to-day banking experience enjoyable. Because a checking account is primarily used to make payments (as opposed to a high-yield account), interest paid on your balance is not a significant consideration—unless you're looking for a high-yield account. Instead, we chose institutions that simplify paying bills, making online and in-person purchases, and managing your account online. This list showcases high-quality offerings that don't have "gotchas," like hidden fees or teasers that don't provide what they promise.