MarketWatch Guides is a reviews and recommendations team, independent of the MarketWatch newsroom. We might earn a commission from links in this content. Learn More

Contact Us

Best Online Checking Accounts

Last Updated: Nov 15, 2024
The best online checking accounts offer perks such as interest earnings, rewards programs, large ATM networks, user-friendly tools and no account fees

Learn More

from our featured partner, SoFi

Managing Editor RaShawn Mitchner Managing Editor RaShawn Mitchner Senior Editor

RaShawn Mitchner is a MarketWatch Guides team senior editor covering personal finance topics and insurance. She’s spent over a decade writing and editing articles about how to save money on travel, entertainment, household services and more.

Principal Researcher Ashley Donohoe Principal Researcher Ashley Donohoe Contributor

Ashley Donohoe is a personal finance writer, Financial Planning and Wealth Management Professional and Certified Financial Education Instructor based in Cincinnati. She covers banking, loans, investments and taxation, and has written for several prominent personal finance websites. In her spare time, Ashley enjoys playing the piano and spending time in nature.

Brandon Renfro, CFP, Ph.D.
Expert Reviewer Brandon Renfro, Ph.D. Expert Reviewer Brandon Renfro, Ph.D. Reviewer

Brandon Renfro, Ph.D., is a certified financial planner and owner at Belonging Wealth Management in Longview, Texas. He has contributed to numerous publications including Fox News, Forbes, The Wall Street Journal and AARP. His certifications as a retirement income certified professional and enrolled agent — the highest credential the Internal Revenue Service (IRS) awards — allow him to offer strong financial advice. Brandon enjoys kayaking, fishing and camping with his family. He also serves as an infantry officer in the Arkansas Army National Guard.

Principal Researcher Ashley Donohoe Principal Researcher Ashley Donohoe Contributor

Ashley Donohoe is a personal finance writer, Financial Planning and Wealth Management Professional and Certified Financial Education Instructor based in Cincinnati. She covers banking, loans, investments and taxation, and has written for several prominent personal finance websites. In her spare time, Ashley enjoys playing the piano and spending time in nature.

Brandon Renfro, CFP, Ph.D.
Expert Reviewer Brandon Renfro, Ph.D. Expert Reviewer Brandon Renfro, Ph.D. Reviewer

Brandon Renfro, Ph.D., is a certified financial planner and owner at Belonging Wealth Management in Longview, Texas. He has contributed to numerous publications including Fox News, Forbes, The Wall Street Journal and AARP. His certifications as a retirement income certified professional and enrolled agent — the highest credential the Internal Revenue Service (IRS) awards — allow him to offer strong financial advice. Brandon enjoys kayaking, fishing and camping with his family. He also serves as an infantry officer in the Arkansas Army National Guard.


Our Research Process

Here’s a breakdown of how we reviewed and rated top banks and credit unions

Learn more about MarketWatch Guides
154 Institutions Monitored
Our team reviewed 154 of the country’s largest and most prominent financial institutions, from big banks like Chase and Bank of America to credit unions like Navy Federal Credit Union and PenFed Credit Union.
688 Products Studied
Total number of checking, saving, CDs, and money-market accounts that inform our review ratings.
719 Rates Tracked
The accounts with an annual percentage yield (APY) several times the national average rate receive the highest scores. Accounts with the lowest APY offering (under 1%) earn the least points.
10 Professionals Consulted
Before we began our research process, we consulted with financial advisors and industry experts to ensure our evaluations covered the banking product aspects that matter most to potential customers.

Online checking accounts offer 24/7 accessibility and often lower costs and better interest rates than many traditional checking accounts. We’ve analyzed over 40 options to bring you the best online checking accounts with competitive rates, rewards and perks.

Key Takeaways
  • Our picks for the best online checking accounts are Discover Bank, Varo Bank, SoFi Bank, Ally Bank, Alliant Credit Union and LendingClub.
  • Benefits of online checking accounts include convenience, lower costs, better interest rates and 24/7 accessibility.
  • Our recent MarketWatch Guides consumer banking survey found that 44% of Americans access their checking account via an online banking platform or mobile app on a daily basis.
  • Before applying for a checking account, make sure it has the features you need, such as reimbursement for out-of-network ATM fees or the option to write paper checks.

Advertisement

The listings that appear are from companies from which this website may receive compensation, which may impact how, where and in what order products appear. Not all companies, products or offers were reviewed in connection with this listing.

Featured Checking Accounts
FEATURED
SoFi
4.7
APY 0.50%
Min. Deposit $0
Bonus $50-$300

Bonus ranges from $50-$300 depending on direct deposit amount.

UFB Direct
4.3
APY 2.00%
Min. Deposit $0
Bonus +0.20% APY Boost

Earn up to 2.00% APY on checking depending on deposit amount. This APY is variable and is subject to change without prior notice. Combine Freedom Checking with Portfolio Savings to boost your savings APY by up to 0.20%

Discover
4.8
APY 0.00%
Min. Deposit $0
Bonus N/A
Ally
4.7
APY 0.25%
Min. Deposit $0
Bonus N/A

APY starts at 0.10%.

Unfortunately, we didn’t find any offers for you.

Learn more about our top rated checking accounts.


Best Online Checking Accounts of 2024

Below are our top picks for the best online checking accounts, many of which also make our list of the best free checking accounts and our overall list of the best checking accounts. Our research team reviewed checking accounts from more than 40 reputable online financial institutions, giving the highest scores to accounts that have no minimum opening deposit or monthly maintenance fee. These accounts also often provide perks such as cash back on debit purchases.

All providers on this list are insured by the Federal Deposit Insurance Corp. (FDIC) or the National Credit Union Administration (NCUA), which protects balances up to $250,000 per depositor, per bank. We’ll cover each account’s main features, pros, cons and account requirements.

After researching 114 banks and credit unions we at the MarketWatch Guides team rated these 6 as our picks for the best checking accounts.

Advertisement

The listings that appear are from companies from which this website may receive compensation, which may impact how, where and in what order products appear. Not all companies, products or offers were reviewed in connection with this listing.

Discover Cashback Debit Account

Best for Large ATM Network
4.8
APY
Not offered
Monthly Fees
$0
ATMs
More than 60,000 free ATMs

Why We Like Discover’s Online Checking Account

Why we like Discover’s online checking account: We like Discover’s Bank’s online checking account, Discover Cashback Debit, for its network of over 60,000 fee-free ATMs and its lack of account fees. There are no monthly fees or insufficient funds fees, and free overdraft protection is available.

The Discover online checking account also has no minimum opening deposit or minimum balance requirement. And with early direct deposit, you could get paid up to two days earlier. You get free checks and check reorders, along with a debit card and Zelle access. You can also deposit cash for free at Walmart locations.

The account doesn’t pay interest, but you can earn 1% cash back on up to $3,000 in debit card purchases (with a maximum of $30 cash back per month).

Our Experience Opening a Discover Savings Account

We opened a Discover online savings account to get a firsthand look into the bank’s application process and customer service. We set the account up in about 15 minutes, which was longer than it took us to open other accounts. However, we were impressed with Discover’s customer service:

  • 24/7 U.S.-based support
  • Connected to a phone representative in less than a minute, with just one screening question

We didn’t like a few of the ways Discover differs from other banks we opened accounts with:

  • One of the only providers to hold our money for 48 hours before it was available for use
  • Zelle only available 90 days after the account is opened
  • Takes eight steps to send a wire, and wires and other transfers can’t be done over the phone

Pros & Cons

Pros ATMs: Discover has a large network of more than 60,000 free ATMs. Free checks: While some online banks don’t offer paper checks, this account provides them for free. Free cash deposits: Deposit cash in your account for free at any participating Walmart. Cons No interest: Discover’s online checking account doesn’t earn interest. No ATM reimbursement: You won’t be reimbursed for out-of-network ATM fees. Cash-back limit: While you can earn 1% cash back on debit purchases, the reward is capped at $30 per month.

Varo Bank Account

Best for Mobile App Experience
4.7
APY
Not offered
Monthly Fees
$0
ATMs
More than 40,000 free Allpoint ATMs

Why We Like Varo’s Online Checking Account: You can manage the Varo Bank Account (the company’s name for its online checking account)  with an intuitive, user-friendly mobile app that lets you deposit checks, set up transfers and enable early direct deposits. The app also allows you to send cash through Zelle, track your spending and chat with customer support.

You can avoid ATM fees with Varo by using one of 40,000 in-network Allpoint ATMs. Depending on your account history, your Varo checking account could give you access to a cash advance of up to $500. You’ll earn up to 6% cash back with your Varo debit card on purchases made with select brands. While the Varo Bank Account doesn’t pay interest, there are no monthly service fees, overdraft fees or foreign-transaction fees.

Pros & Cons

Pros Cash back: Varo offers up to 6% cash back on select debit card purchases. No fees: Varo doesn’t charge monthly service, overdraft or foreign-transaction fees for its online checking account. User-friendly mobile app: Transfer money with Zelle — which some banks don’t offer in their apps — deposit checks and enable early direct deposit. Easy to get started: There’s no minimum opening deposit. Cons No interest: Varo doesn’t pay interest on its checking account. No checks: Paper checks aren’t offered with this account. Fees for cash deposits: You can only deposit cash at Green Dot locations (subject to deposit limits), and the retailer may charge you a fee of up to $5.95.d fees for making cash deposits

SoFi Checking and Savings Account

Best for Cash-Back Incentives
4.7
APY
0.50%
Monthly Fees
$0
ATMs
More than 55,000 free Allpoint ATMs

Why We Like SoFi’s Online Checking Account: With SoFi Bank, opening a checking account automatically gets you a savings account at the same time. Unlike with many checking accounts, you’ll earn interest regardless of your balance. You can also get up to 15% cash back on debit card purchases made at eligible local businesses.

SoFi’s online checking account doesn’t come with a monthly service fee or other common charges, and it doesn’t have minimum deposit or minimum balance requirements. You can access more than 55,000 fee-free Allpoint ATMs. The bank offers free paper checks and lets you send free peer-to-peer payments.

SoFi also offers direct deposit up to two days early. Plus, if you set up a monthly direct deposit of $1,000 or more, you could qualify for up to $50 in free overdraft coverage for debit card purchases.

Our Experience Opening a SoFi Account

We opened a combination checking and savings account with SoFi to research the full customer experience. Opening the account, including navigating security features and entering verification codes, took about five minutes.

We really liked the following features of our SoFi account: 

  • Instant transfers between checking and savings
  • Free VantageScore credit score
  • Awards points toward cash-back rewards for common banking activities, such as setting up bill pay

SoFi could improve the following aspects of its customer experience:

  • Cluttered dashboard that makes it difficult to see your banking information on the first screen
  • Takes up to five business days for the initial transfer to be processed and the full amount to be available

Source: Sofi.com via MarketWatch Guides user testing

Welcome Bonuses

New SoFi members can earn a welcome bonus of up to $300 when they open a SoFi Checking and Savings account and set up eligible direct deposits during the 25-day bonus period. Existing SoFi customers are also eligible if they’ve never enrolled in direct deposit with the bank.

  • Earn a $50 cash bonus with qualifying direct deposits of $1,000 to $4,999.99.
  • Earn a $300 cash bonus with qualifying direct deposits of $5,000 or more.

This offer expires on June 30, 2024.

Additionally, Rakuten is offering up to $125 cash back if you open a new SoFi Checking and Savings account and complete a direct deposit of $500 or more within 45 days. The promotion expires on Dec. 31, 2024.

Pros & Cons

Pros High cash back: SoFi offers up to 15% cash back from debit card purchases with select local businesses. Interest-bearing account: SoFi pays the same annual percentage yield (APY) on all checking balances. Sign-on bonus: SoFi is our only recommended online checking account provider that’s currently offering a cash sign-on bonus. Cons Importance of direct deposit: You won’t qualify for overdraft protection or a higher rate for your savings account if you don’t set up direct deposit. Fee for cash deposits: To deposit cash in your checking account, you’ll have to use Green Dot, which may charge up to $4.95 for each deposit. No ATM reimbursement: SoFi doesn’t reimburse you for the fees out-of-network ATMs charge.

Ally Bank Spending Account

Best for Customer Experience
4.7
APY
0.10% (below $15,000) or 0.25% ($15,000 or more)
Monthly Fees
$0
ATMs
More than 43,000 free Allpoint ATMs

Why we like Ally’s online checking account: The Ally Bank online checking account, which it calls the Spending Account, pays interest on all balances. But the interest rates are tiered — to get the best rate, you’ll need at least $15,000 in your account.

We really like Ally’s spending buckets feature, which helps you manage your spending and divide your money for savings goals. There are also two layers of optional overdraft protection: Overdraft Transfer Service moves funds from your savings or money market accounts to your checking account, and CoverDraft Service provides up to $250 in temporary coverage.

The bank offers free ATM access at over 43,000 Allpoint ATMs and reimburses up to $10 worth of out-of-network ATM charges per statement cycle. You can also send money to others through Zelle.

Our Experience Opening an Ally Account

We opened an Ally high-yield savings account to provide you with first-person information about the application process. While it took us 10 minutes and 13 clicks to open the account and navigate the safety features, we liked that FAQ articles were available in the application in case we had questions. We also liked these things:

  • APY clearly listed in our account so we know how much interest we’re earning
  • Integrates Zelle in its mobile app, which isn’t available with every financial institution
  • Home screen clearly displays customer service info and the wait time for assistance

However, we did notice areas where Ally could improve usability:

  • Four-minute wait for customer service via phone
  • One of only a few recommended banks without the ability to make wire transfers in the app

Pros & Cons

Pros Free checks: Ally offers free standard paper checks for this checking account. Interest-bearing account: Regardless of your checking balance, you’ll earn more than the national average for this type of account. Early direct deposit: Get your direct deposits up to two days early. No account fees: There are no overdraft or monthly maintenance fees with Ally’s online checking account. Cons No cash deposits: Ally doesn’t offer an option to make cash deposits, so you’ll have to use another bank account to do this. High balance needed for top APY: You’ll need a checking balance of at least $15,000 to earn the top APY for Ally’s online checking account. No cash back: There are no cash-back rewards for debit card purchases.

Alliant Credit Union High-Rate Checking Account

Best Online Credit Union Option
4.6
APY
0.25%
Monthly Fees
$0
ATMs
More than 80,000 free ATMs

Why we like Alliant’s online checking account: Alliant Credit Union’s online High-Rate Checking accounts has great perks and lenient membership requirements, making it one of our top picks. It pays more than three times the national average rate for interest-bearing checking accounts if you receive one or more qualifying electronic deposits each month and agree to receive e-statements.

Alliant account holders can use more than 80,000 fee-free ATMs, some of which accept cash deposits. The credit union also reimburses up to $20 per month for out-of-network ATM fees. There are no monthly service, overdraft or minimum balance fees, and you can set up free overdraft protection for your online checking account by linking it to your Alliant savings account. Another perk is that you get one free box of paper checks when you open an account.

Our Experience Opening an Alliant Credit Union Account

We opened a certificate of deposit (CD) account with Alliant Credit Union to get in-depth information about the customer experience. The application process was seamless, and we appreciated security features such as two-factor authentication. We also liked these parts of being an Alliant account holder:

  • Phone call was answered live by a customer service rep
  • User-friendly and visually appealing dashboard
  • Transferred the initial deposit instantly, while other banks we opened accounts with took a few days to do this

But we encountered issues with Alliant’s chat bot. It was hard to find the chat tool on the credit union’s website, and once we did, it couldn’t understand our question about CD renewal.

Source: Alliant.com via MarketWatch Guides user testing

Pros & Cons

Pros Nice APY: Earn interest on your entire checking balance if you meet deposit requirements and get e-statements. Lots of ATMs: Alliant offers more than 80,000 fee-free ATMs, some of which accept cash deposits. Fees reimbursed: The credit union will reimburse up to $20 in out-of-network ATM fees per month. Cons No Zelle integration: Alliant doesn’t offer Zelle transfers directly from its app. No cash rewards: There’s no cash-back rewards program with this online checking account. Must maintain savings account: You’ll need to keep at least $5 in your Alliant savings account to maintain your credit union membership.

LendingClub Rewards Checking Account

Best for No Fees
4.5
APY*
0.10% or 0.15%
Monthly Fees
$0
ATMs
Universal fee-free access

Why We Like LendingClub’s Online Checking Account

Why we like LendingClub’s online checking account: We like LendingClub earns because it doesn’t have many common charges, including overdraft fees and monthly maintenance fees. We also love that you can use any ATM you want, including some that support depositing cash, and get unlimited reimbursements for ATM charges. LendingClub also provides your the first set of paper checks for free.

Plus, this account offers two ways to earn money. After your account has been open for 30 days, you can start earning 1% cash back on eligible debit card purchases if you maintain a $2,500 average monthly balance or receive at least $2,500 in qualifying direct deposits. And if your account balance is between $2,500 and $99,999.99, you’ll earn interest. The APY increases to 0.15% APY for checking account balances of $100,000 or more.

Pros & Cons

Pros Use any ATMs: You can use any ATM (including some for cash deposits) and get unlimited fee reimbursement from LendingClub. Interest-bearing account: If you keep $2,500 or more in your online checking account, you’ll earn interest. Unlimited cash back: Get unlimited 1% cash back with your debit card on qualifying purchases. Cons Minimum opening deposit: LendingClub’s online checking account requires a $25 minimum opening deposit. Daily limits: The daily limits on your transactions and ATM withdrawals depend on your account balance. High balance requirements for rewards: You have to maintain an average monthly balance of at least $2,500 to earn interest and qualify for unlimited cash back debit rewards.

Summary: The Best Online Checking Accounts

Advertisement

The listings that appear are from companies from which this website may receive compensation, which may impact how, where and in what order products appear. Not all companies, products or offers were reviewed in connection with this listing.

4.7
What Stands Out One of the highest checking APYs available and a sign-on bonus with direct deposit
APY* 0.50%
Cash Back** Up to 15%
Next
4.8
What Stands Out Up to $30 cash back per month on debit card purchases
APY* N/A
Cash Back** 1%
Next
4.7
What Stands Out Up to $50 cash back per month on select brands with debit card purchases
APY* N/A
Cash Back** Up to 6%
Next
4.7
What Stands Out Spending buckets feature to help you budget and plan
APY* Up to 0.25%
Cash Back** N/A
Next
4.6
What Stands Out 0.25% APY for standard and teen checking accounts with e-statements and qualifying monthly deposits
APY* 0.25%
Cash Back** N/A
Next
Best Online Checking Account What Stands Out APY* Cash Back** See More
Highest Checking APY
4.7
Next
One of the highest checking APYs available and a sign-on bonus with direct deposit 0.50% Up to 15% Next
4.8
Next
Up to $30 cash back per month on debit card purchases N/A 1% Next
4.7
Next
Up to $50 cash back per month on select brands with debit card purchases N/A Up to 6% Next
4.7
Next
Spending buckets feature to help you budget and plan Up to 0.25% N/A Next
4.6
Next
0.25% APY for standard and teen checking accounts with e-statements and qualifying monthly deposits 0.25% N/A Next
Best Online Checking Account What Stands Out APY* Cash Back** See More
Highest Checking APY
4.7
Next
One of the highest checking APYs available and a sign-on bonus with direct deposit 0.50% Up to 15% Next
4.8
Next
Up to $30 cash back per month on debit card purchases N/A 1% Next
4.7
Next
Up to $50 cash back per month on select brands with debit card purchases N/A Up to 6% Next
4.7
Next
Spending buckets feature to help you budget and plan Up to 0.25% N/A Next
4.6
Next
0.25% APY for standard and teen checking accounts with e-statements and qualifying monthly deposits 0.25% N/A Next
No results were found.

*APYs (Annual Percentage Yields) accurate as of November 15, 2024

** Cash back rates may vary based on provider terms and limits.


What To Look for in an Online Checking Account

Since banks and credit unions with online checking accounts don’t have the same overhead costs as their brick-and-mortar counterparts, some offer better perks and higher interest rates. Here’s what to look for to get the most out of your online account.

Lower Fees

With an online bank, you usually won’t have to maintain a minimum balance to avoid paying a monthly maintenance fee as you might with a traditional bank. The best online banks also don’t charge overdraft fees or insufficient funds fees.

Since online banks tend to have large ATM networks, they also tend to have lower ATM fees. If you need to use an out-of-network ATM, some online financial institutions will reimburse you for some or all of those charges.

Higher Interest Rates

Traditional checking accounts don’t typically earn interest. If they do, the rate is often very low — the national average was 0.07% as of March 18. However, online banks and credit unions tend to offer higher interest rates for various types of accounts. In our consumer banking survey, about 55% of respondents said they would switch to an online bank for a better interest rate.

Mobile Apps

Mobile banking access is essential for many checking customers — 36% of our survey respondents consider a good mobile app or online banking experience one of the most important things about choosing a checking account. The best mobile banking apps allow you to transfer money (often via Zelle), deposit checks, find ATMs and make digital payments.

Some online financial institutions let you link outside accounts so you have a better idea of your finances. Some mobile banking apps also let you set up spending alerts and automated transfers.

Check Writing

If you still use paper checks (like 51% of our consumer banking survey respondents) choose an online checking account that has check-writing capabilities. Some accounts provide free checks. 

Cash Deposits

Cash deposits with online checking accounts work differently than with brick-and-mortar banks. Some online banks and credit unions allow you to make cash deposits at select ATMs in their networks. With others, you’ll need to use a service such as Green Dot, which lets you deposit cash in your checking account at retailers such as CVS and Walmart. While some banks don’t charge fees for Green Dot deposits, others allow retailers to charge up to $4.95.

Early Direct Deposit

Many online checking accounts offer early direct deposit, a service that releases your direct deposits up to two days earlier than you’re scheduled to receive the money. If you want to access your paycheck early, choose an online checking account that offers this feature.

24/7 Accessibility

While there’s no in-person support, an online checking account can offer a lot of convenience and flexibility. You won’t have to worry about banking hours that don’t fit your schedule. You can usually make secure online transfers, use your debit card and visit ATMs at any time. Plus, online banks tend to offer 24/7 customer service options.

“Online checking accounts offer a lot of convenience, but some features work differently than traditional brick-and-mortar banks. Before you choose one, make sure you review things like ATM access or other services that you intend to use.”

Brandon Renfro, CFP, Ph.D.
Brandon Renfro Ph.D., CFP, RICP, EA

>> Related: Learn more about the best online banks


Online Checking Account Consumer Insights

In our consumer banking survey, we found that online financial institutions often provide the checking account features consumers care about the most. The most important feature for people selecting a checking account was low or no monthly fees (74% of respondents). Second was access to free ATMs (58%), and third was low or no overdraft fees (45%). Online checking accounts fit the bill on all three fronts.

Mobile and Online Banking vs. In-Person Banking

Roughly 75% of the people we surveyed prefer to bank via an online platform or a mobile app instead of visiting a bank branch. Here’s what a few of the people we surveyed had to say:

  • “My bank makes online banking seamless and easy,” one respondent said.
  • Another commented that “online services are just more convenient.” 
  • “I love how easy and convenient online banking is overall, not to mention the transactions seem to go through so much faster,” another person said.

The benefits of online banking that consumers in our survey mentioned included functionality, 24/7 access and not having to wait in line or rush to a branch. “My financial institution's digital platform's ease of use is more like playing a game,” one person explained. “I find it to be that easy.” 

Generational Differences

According to our survey, younger generations are less likely to prefer in-person banking. Gen X is the generation least likely to bank in person, with roughly 81% preferring to bank online or with an app. Baby Boomers are the most likely to prefer in-person banking, but about 63% of them would rather access their accounts online or through an app.

Mobile App Performance

Our survey found that mobile apps are also important considerations for consumers who are looking for checking accounts. Overall, 41% of respondents prefer to bank via mobile app, and over 36% say a good mobile app is a top consideration when selecting a checking account. Roughly 44% of the people we surveyed use a mobile banking app daily. 

Many customers said a bank’s mobile app would be a make-or-break feature, especially for depositing checks and transferring money. Some customers complained that their bank’s app was difficult to use and needed to be updated for increased speed. Others commented on how much they love their bank’s app.

“My financial institution has updated their mobile app and it is a way better experience for users,” one respondent said. 


Our Picks for the Best Online Checking Accounts


FAQ: Online Checking Accounts

Based on our reviews, SoFi offers the best online checking account because it offers a sign-on bonus, a combined checking and savings account with competitive rates on all balances and up to 15% cash back on debit card purchases. However, the best option for you will depend on the banking services and features you need.

Yes, online checking accounts are safe when financial institutions take measures to prevent security breaches and you follow best practices for digital banking. Your money is also safe from a bank failure when you use an institution with insurance from the NCUA (for credit unions) or FDIC (for banks) insurance.

If your online account supports it, you can usually use your debit card to deposit cash at an ATM that accepts deposits. Some online accounts require you to visit a participating retailer instead. Note that you may have to pay a fee for each cash deposit.


Methodology

Our team researched more than 100 of the country’s largest and most prominent financial institutions, collecting information on each provider’s account options, fees, rates, terms and customer experience. We then scored each firm based on the data points and metrics that matter most to potential customers. Read our full methodology.

To find the best online checking accounts, our team reviewed checking account products from 40 reputable online financial institutions. The banks and credit unions that received the top ratings for checking accounts tend to have no minimum opening deposit, monthly maintenance fee and no or low overdraft fees, making them accessible to more customers. They often provide perks such as ATM reimbursements and cash back on debit card purchases.

Savings and money market accounts
35%
The best scores go to banks, loans and fintech companies with high interest rates and low or no fees or minimum opening deposits.
Checking accounts
30%
High marks are given to those with multiple accounts and minimal fees, plus benefits such as reward programs and mobile check deposit.
Certificates of deposit
20%
Top-rated financial institutions have low or no minimum opening deposits, as well as a variety of term options and specialty CDs for flexibility.
Banking experience and access
15%
Providers that excel in this category have large branch and ATM networks and multiple checking and savings accounts, and they earn more points for offering CDs and money market accounts.
35% Savings and money market accounts
30% Checking accounts
20% Certificates of deposit
15% Banking experience and access
Savings and money market accounts

The best scores go to banks, loans and fintech companies with high interest rates and low or no fees or minimum opening deposits.

Checking accounts

High marks are given to those with multiple accounts and minimal fees, plus benefits such as reward programs and mobile check deposit.

Certificates of deposit

Top-rated financial institutions have low or no minimum opening deposits, as well as a variety of term options and specialty CDs for flexibility.

Banking experience and access

Providers that excel in this category have large branch and ATM networks and multiple checking and savings accounts, and they earn more points for offering CDs and money market accounts.


All America Bank, Alliant Credit Union, Ally Bank, Amerant Bank, America First Credit Union, American Airlines Credit Union, American Express National Bank, Apple Bank, Arvest Bank, Associated Bank, Axos Bank, Banesco Bank, Bank of America, Bank of Hope, Bank Purely, Bank5 Connect, Barclays, Bask Bank, BECU (Boeing Employees Credit Union), Bethpage Federal Credit Union, BMO, BMO Alto Bank, Bread Savings (formerly Comenity Direct), BrioDirect, Capital One Bank, CFG Bank, Charles Schwab, Charlie Financial, Chase Bank, Chime, CIBC USA, CIT Bank, Citibank, Citizens, Citizens Bank, Colorado Federal Savings Bank, Comerica Bank, Connexus Credit Union, Consumers Credit Union, Credit One Bank, Cross River Bank, Current, Customers Bank, Delta Community Credit Union, Discover Bank, East West Bank, Emigrant Direct, EverBank (formerly TIAA Bank), Federal Savings Bank, Fifth Third Bank, First Citizens Bank, First Internet Bank (of Indiana), First National Bank of America, First Tech Federal Credit Union, FNBO Direct, Frost Bank, Golden 1 Credit Union, Heritage Bank NA, HSBC, Huntington Bank, KeyBank, Lafayette Federal Credit Union, Lake Michigan Credit Union, LendingClub, Limelight Bank, Live Oak Bank, Lonestar Bank, M.Y. Safra Bank, M&T Bank, Marcus by Goldman Sachs, Mercury Bank, Merrick Bank, Michigan State University Federal Credit Union, Milli, Morgan Stanley Private Bank, Mountain America Credit Union, My eBanc, MySavingsDirect, National Bank of Kansas City, Navy Federal Credit Union, NBKC Bank, North American Savings Bank (NASB), Northpointe Bank, Patelco Credit Union, PenFed Credit Union (Pentagon Federal), PNC Bank, Popular Direct, Presidential Bank, Provident Bank, Quontic Bank, Quorum Federal Credit Union, Randolph-Brooks Federal Credit Union, Regions Bank, Ridgewood Savings Bank, Rising Bank, Salem Five Direct, Sallie Mae Bank, Santander Bank, SchoolsFirst Federal Credit Union, Security Service Federal Credit Union, Service Credit Union, SoFi Bank, South State Bank, Spectrum Credit Union, Spring Bank, Star One Credit Union, State Bank of Texas, State Department Federal Credit Union, State Employees’ Credit Union, Suncoast Credit Union, Sutton Bank, Synchrony Bank, Synovus Bank, TD Bank, Texas Capital Bank, Third Federal Savings & Loan, Transportation Alliance Bank (TAB Bank), Truist Bank, U.S. Bank, UFB Direct, Umpqua Bank, Upgrade, USAA Bank, USAlliance Financial, Valley National Bank, Varo Bank, Vio Bank, VyStar Credit Union, Webbank, Webster Bank, Wells Fargo, Western State Bank, Zions Bank, Zynlo Bank


*Data accurate at time of publication

**Rates and promotions accurate as of November 15, 2024

Editor’s Note: Before making significant financial decisions, consider reviewing your options with someone you trust, such as a financial adviser, credit counselor or financial professional, since every person’s situation and needs are different.

If you have feedback or questions about this article, please email the MarketWatch Guides team at editors@marketwatchguides.com.

Meet the Team

RaShawn Mitchner is a MarketWatch Guides team senior editor covering personal finance topics and insurance. She’s spent over a decade writing and editing articles about how to save money on travel, entertainment, household services and more.

Learn more about RaShawn Mitchner

Ashley Donohoe is a personal finance writer, Financial Planning and Wealth Management Professional and Certified Financial Education Instructor based in Cincinnati. She covers banking, loans, investments and taxation, and has written for several prominent personal finance websites. In her spare time, Ashley enjoys playing the piano and spending time in nature.

Learn more about Ashley Donohoe

Brandon Renfro, Ph.D., is a certified financial planner and owner at Belonging Wealth Management in Longview, Texas. He has contributed to numerous publications including Fox News, Forbes, The Wall Street Journal and AARP. His certifications as a retirement income certified professional and enrolled agent — the highest credential the Internal Revenue Service (IRS) awards — allow him to offer strong financial advice. Brandon enjoys kayaking, fishing and camping with his family. He also serves as an infantry officer in the Arkansas Army National Guard.

Learn more about Brandon Renfro, Ph.D.
Related Articles