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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 best online checking account gives you complete control over your day-to-day transactions without ever having to enter the bank — usually with lower fees. We researched over 160 checking accounts and dug into factors like ATM access, fees, balance requirements to determine your six best options.
What’s changed in 2021?
We added Bluevine to our list as the best online checking account for businesses because it has no transaction limits, no monthly fees, a 1% APY and it accepts cash deposits. We replaced Simple with Chime as it’s being discontinued in the near future.
Take a closer look at the best online checking accounts by exploring their pros, cons and features.
Best for high interest
| APY | 1.25% |
|---|---|
| Account fees | $0 monthly |
| Can the fee be waived? |
Yes
|
| Insufficient funds fee | $0 |
| ATM transaction fee | $0 |
| Foreign transaction fee | 1% |
| Overdraft fee | $0 |
Best for no fees
| APY | 0% |
|---|---|
| Account fees | $0 monthly |
| Can the fee be waived? |
No
|
| ATM transaction fee | $0 |
| Foreign transaction fee | 0% |
| Overdraft fee | $0 |
Best online business checking account
| APY | 1% |
|---|---|
| Account fees | $0 monthly |
| Can the fee be waived? |
Yes
|
| Insufficient funds fee | $0 |
| ATM transaction fee | $0 |
| Overdraft fee | $0 |
Best for cash back
| APY | 0% |
|---|---|
| Account fees | $0 monthly |
| Can the fee be waived? |
Yes
|
| Insufficient funds fee | $0 |
| ATM transaction fee | $0 |
| Wire transfer fee | $30 |
| Overdraft fee | $0 |
| Accout closure fee | $0 |
Best for travel
| APY | 0.03% |
|---|---|
| Account fees | $0 monthly |
| Can the fee be waived? |
Yes
|
| ATM transaction fee | $0 |
| Paper statement fee | $0 |
| Foreign transaction fee | 0% |
| Overdraft fee | $0 |
Best overall
| APY | 0.1% |
|---|---|
| Account fees | $0 monthly |
| Can the fee be waived? |
No
|
| Insufficient funds fee | $9 |
| ATM transaction fee | $0 |
| Paper statement fee | $5 |
| Wire transfer fee | $40 |
| Foreign transaction fee | 0% |
| Overdraft fee | $35 |
Consider these factors when trying to find the best online checking account for you:
An online checking account is an everyday bank product that you open and maintain entirely online. You can pay for purchases and access cash with a debit card and manage your funds online or with a mobile app.
Some online checking accounts are operated by completely digital banks or new challenger banks, while others are operated by major banks and credit unions.
Yes. Online banks operate like brick-and-mortar banks and allow you to withdraw cash from ATMs. Many digital banks partner with ATM networks, including Allpoint and MoneyPass, to let you access your cash at surcharge-free ATMs nationwide. Some online checking accounts will also reimburse you for ATM fees every month so you can withdraw money at any ATM that’s convenient for you.
You can also withdraw money from an online checking account by getting cash back at a store when you use a debit card, using money transfer services and requesting your bank to send you a check.
Here are a few benefits and disadvantages of an online checking account:
Yes, as long as you use an FDIC-insured bank. When you keep your money in an FDIC-insured bank, your funds are backed by the US government for up to $250,000. But to keep your account and personal information secure, be aware of:
Sort this table by minimum deposit to open, ATMs and ATM fees to find an account that’s right for you. Click the “Compare” box next to your top choices to view them side-by-side.
If you’re tech savvy and prefer to manage your finances independently, an online checking account can offer convenience and low fees. But if you regularly get help at your local bank branch, the tradeoff might not be worth it. To make sure you’re choosing an account that’s the right fit for you, compare other checking accounts before making a decision.
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A youth savings account with a whopping 7% APY on account balances up to $1,000.
Northpointe Bank’s Kids Savings account earns an unmatched interest rate on balances above $1,000.
A kids savings account with an interest rate that compounds daily but has long hold times for customer service.
A kids’ savings account with a generous interest rate that transitions to a lackluster regular savings account when your child turns 18.
A high-yield savings account that supports multiple currencies.
A checking account-debit card combo marketed for people with disabilities.
Bank of Missouri’s Show Me Savers earns 0.1% APY but can’t be opened online.
It’s easy to qualify for these online store cards.
Two trading platforms for beginners with no commission fees or bells and whistles. But which one comes out on top?
A checking account that earns up to 1.75% APY and up to $25 in ATM reimbursements.
