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Compare digital bank accounts in the US

Browse digital accounts, discover the benefits of digital banking and learn how you can open an account today.

Compare digital bank accounts

Use this table to compare accounts from digital banks, or neobanks, to find one that's right for you. Take it a step further by filtering accounts by interest, fees and ATM access.

1 - 5 of 15
Name Product APY Minimum deposit to open ATMs Out-of-network ATM fee Offer
Aspiration Spend & Save Account
Finder Rating: 4.2 / 5: ★★★★★
Aspiration Spend & Save Account
5.00% on balances of $0 to $10,000
3.00% on balances of $0 to $10,000
55,000+ free Allpoint ATMs worldwide
Deposits are fossil fuel-free and insured by the FDIC. Enjoy a spend and save combo account with unlimited cash back rewards.
Chime Checking account
Finder Rating: 4.7 / 5: ★★★★★
Chime Checking account
60,000+ fee-free ATMs
Get rid of fees with this financial app offering consumer-friendly accounts. Chime can also help you save easily and access your paycheck faster.
HSBC Premier Checking
Finder Rating: 2.7 / 5: ★★★★★
HSBC Premier Checking
0.01% on balances of $5+
Free to use at all ATMs in the US
Get a $500 welcome bonus when you open your account with qualifying activities. Must open HSBC Premier checking account through offer page by February 15, 2023, and set up qualifying direct deposits into the new account totalling at least $10,000 per month for three consecutive months. Conditions apply. Deposit products are offered in the US by HSBC Bank USA, N.A. Member FDIC.

HSBC Premier Checking offers free global transfers and 24/7 customer support.
Finder Rating: 4.7 / 5: ★★★★★
55,000 AllPoint ATMs around the world for free
Earn $30 bonuses every time a friend signs up for an account and deposits at least $20 in one transaction
No monthly fees. No foreign transaction fees. No fees at 55,000+ Allpoint ATMs.
Finder Rating: 4.8 / 5: ★★★★★
over 55,000 free ATMs across the US
When a friend signs up using your invite code, they get 100 tickets into next week's contest. Once they make their first deposit, you also get either 100 free tickets or potentially more if you have reached Silver, Gold, or Platinum status.
Increase your chances of winning up to $10 million in cash prizes every time you spend $10 with your Yotta debit card and for every $25 in your checking account.

Compare up to 4 providers

This article was reviewed by Marguerita Cheng, a member of the Finder Editorial Review Board and award-winning advocate for ethical financial planning for over 20 years.

The 4 best digital bank accounts

The best digital bank accounts offer savings or budgeting features, low fees and 24/7 customer support. We researched more than 20 digital banks and compared each of their offerings. We weighed their fees, deposit requirements and features such as cash-back deposits, automated savings, rewards, interest rates, etc. Among all the digital banking providers we’ve reviewed, these four come out on top.


Finder rating 4.7 / 5 ★★★★★

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on Varo's secure site
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Chime Checking account

Finder rating 4.7 / 5 ★★★★★

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on Chime's secure site
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SoFi Checking and Savings

Finder rating 4.6 / 5 ★★★★★

SoFi Checking and Savings lives up to its name by providing an interest-bearing checking account with optional savings “vaults.” Balances in both your checking account and savings vaults earn 1.25% APY, but only if you receive direct deposits on a recurring basis. And when you set up direct deposits, you will also get fee-free overdraft protection and early access to paychecks. Plus, you can get up to 15% back when you use your SoFi card at select retailers.


Finder rating 4.8 / 5 ★★★★★

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on Juno's secure site
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What’s changed in 2021?
We updated this page to reflect that Juno‘s APY-like bonus rate is now 2.15%.

We added SoFi Checking and Savings to our list of the best digital banking accounts.

What is digital banking?

Digital banking refers to the management of finances through apps or websites rather than through human interaction at physical banks. The term is loosely defined, and many companies that exclusively specialize in digital banking are known as neobanks.A neobank is a digital bank that doesn’t use any existing legacy systems to operate. This means the bank doesn’t use any physical infrastructure or digital operating systems that are already being used by existing financial institutions. The technology used by these fully digital banks is developed from scratch.

What other digital banks have launched in the US?

There are a number of digital banks operating overseas that plan to launch in the US in the future, including:

  • Revolut. This UK-based bank was created with travelers in mind, offering low fees for international purchases, withdrawals and money transfers.Revolut launched in the US in March 2020.
  • Glint.This UK-based banks brings an old concept into the digital age. Glint lets you store your money as gold so that it’s less vulnerable to the economic factors than can impact a country’s currency. US customers can already use the app to buy gold, but Glint plans to launch a debit card that allows you to spend your gold or exchange it for US currency at an ATM in the near future.

What are the benefits of a digital bank?

There are several perks of using a digital bank. Among them:

  • They understand your habits. Digital banking apps have spending analysis features that evaluate where your cash is going. Look for automatic spending categorization, notifications, alerts and monthly reports.
  • You can sync them with your budget. Use the spending analysis to set up budgets and track progress. The app may allow you to set goals and spend limits to make veering off course more difficult.
  • Traveling perks. Some digital banks can make traveling easier by holding multiple currencies at once, skipping international ATM or foreign currency fees and locking or unlocking your card if it gets lost or stolen.
  • Automated savings. Some digital banks prioritize stashing cash away. For instance, rounding transactions to the nearest dollar and sending the difference to your savings account.

What are the drawbacks of a digital bank?

Digital banks won’t suit everyone’s tastes. Before opening an account, consider these potential pitfalls:

  • No in-person help.If you’re looking to navigate a complex financial plan with the aid of a professional, you might want to stick with a more traditional setup.
  • Smaller product offerings. While industry giants also offer loans, mortgages and investment accounts, digital banks tend to specialize in checking and savings.
  • Compatibility may be limited. Make sure your smartphone can handle whichever digital bank you choose — not all operating systems may be supported.
  • Technical reliance. Technical difficulties could derail your ability to access and manage personal finances, which might present too big a risk for some.

6 common support options for digital banks

Digital banks offer a wide range of customer service outlets:

  1. Live chat. Speak to a representative in real-time on your computer or smartphone.
  2. Contact form. Send a secure message through its website or app.
  3. Email. Get help with your account by initiating an email correspondence.
  4. Phone. Call customer service during its business hours.
  5. Mobile app chat. Some digital banks let you chat with a rep right from the mobile app.
  6. Social media. Reach out through various social media platforms, including Twitter, Facebook and Instagram.

What’s the difference between a digital bank and an online bank?

Many banks in the US appear to be digital banks they don’t have branches and customers use mobile banking apps to control their money — but that doesn’t mean they are. This table breaks down the difference between digital banks and online banks:

FeaturesDigital bankOnline bank
Competitive interest rates
Low opening deposits
Few fees
Built-in budgeting & automated savings tools
Branch locations
More account options
Accepts cash deposits

Online banks aren’t 100% digital banks

Many people refer to American Express and Discover as digital banks because they don’t have any physical branches. However, these banks aren’t neobanks because they rely on existing banking infrastructure and operate like a traditional bank.

Can a digital bank really replace my traditional bank account?

It depends on your personal needs. Banking apps let you fully manage your accounts — savings, checking and more — through your smartphone or computer. If you’ve never stepped into a branch location and don’t plan to anytime soon, switching over might make sense.

But remember that you don’t have to cancel your traditional bank account to use a digital bank. Having multiple bank accounts does not affect your credit score.

Must read: A bank offering Apple Pay isn’t necessarily a digital bank.

Many banks offer contactless payments via digital wallets like Apple Pay, Google Pay and Samsung Pay, but offering a digital feature doesn’t make them digital banks.

Similarly, if a bank offers a top-notch mobile banking app, Internet banking services, cardless cash facilities and digital savings tools, this doesn’t automatically mean it’s a digital bank either. Remember, a 100% digital neobank is one that doesn’t use any existing banking systems or infrastructure.

Are digital banks safe?

Digital banks need to have the same banking licenses and approvals as existing US banks before they’re able to offer products and services to consumers. These new banks will be regulated by the Federal Deposit Insurance Corporation (FDIC) and the US Securities and Exchange Commission (SEC) in the same way that existing banks are regulated.

Your deposit of up to $250,000 with an FDIC-insured bank is protected by the US government. This means if something were to happen to the bank, your money (up to this amount) would be safe. Note that some of the digital banks mentioned in this guide are not yet considered banks and haven’t yet been licensed or FDIC-insured.

How do I sign up for a digital bank?

The sign-up process varies between providers. You can generally start by downloading the provider’s app to your smartphone. Then, verify your identity by providing an ID such as your driver’s license or passport. You’ll also need to send personal details such as name, address and contact information. Some apps will send you a physical card, while others allow you to start spending instantly with a virtual debit card.

For new digital banks, you may need to join their waitlist by visiting their website. Once their product launches they’ll send an announcement to those on the waitlist first.

What is the difference between mobile and digital banking?

Mobile banking refers to the ability to manage your finances through an app or smartphone-friendly website. Digital banking is a broader term that also encompasses the ability to manage your finances via a website. You’ll get more convenience with Mobile banking because you don’t need a traditional desktop or laptop computer to access your account. There are several advantages to mobile banking:

  • Banking access in your pocket
  • Many companies offer 24/7 access to banking support
  • Instant spending notifications
  • Many banking apps offer ways to automatically save money

Bottom line

Digital banks are getting a lot of hype right now, and for good reason. They often cater to specific niches and groups and they’re known for offering innovative apps. But before you ditch your current bank, take the time to read through all of the fine print to make sure the bank you’re interested in is as good as it sounds.

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