6 best online checking accounts for 2022

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 1.5% APY and it accepts cash deposits. We replaced Simple with Chime as it’s being discontinued in the near future.

A closer look at the best online checking accounts

Take a closer look at the best online checking accounts by exploring their pros, cons and features.

Best for high interest

Axos Bank Rewards Checking

Finder rating 4.2 / 5 ★★★★★

Go to site on Axos Bank's secure site Read review

• Pros and cons

  Pros

  • High APY. Earn up to 1.25% APY on your account balance.
  • Unlimited ATM fee reimbursements. Get all domestic ATM fees reimbursed within one business day.
  • Minimal fees. Axos doesn't charge any fees for overdrafts, insufficient funds or monthly maintenance.

  Cons

  • Opening deposit requirements. You need at least $50 to open this account.
  • APY requirements. You'll earn 0.4% APY for receiving at least $1,500 in direct deposits each month and an additional 0.3% APY for using your debit card to make at least 10 purchases of $3 or more. But if you want to earn the maximum APY of 1.25%, you'll need to open an Axos Invest Self Directed Trading account and an Axos Invest Managed Portfolio Account and maintain an average daily balance of $2,500 in each of those accounts. You'll also need to use your Axos Rewards Checking account to make monthly payments on an Axos Bank mortgage, personal loan or auto loan.

• More details

  APY	1.25% on balances of $0 to $50,000 Interest-earning conditions apply.
  Fee	$0 per month
  Nonsufficient funds fee	$0
  ATM transaction fee	$0
  Foreign transaction fee	1%
  Overdraft fee	$0

Pros

• High APY. Earn up to 1.25% APY on your account balance.
• Unlimited ATM fee reimbursements. Get all domestic ATM fees reimbursed within one business day.
• Minimal fees. Axos doesn't charge any fees for overdrafts, insufficient funds or monthly maintenance.

Cons

• Opening deposit requirements. You need at least $50 to open this account.
• APY requirements. You'll earn 0.4% APY for receiving at least $1,500 in direct deposits each month and an additional 0.3% APY for using your debit card to make at least 10 purchases of $3 or more. But if you want to earn the maximum APY of 1.25%, you'll need to open an Axos Invest Self Directed Trading account and an Axos Invest Managed Portfolio Account and maintain an average daily balance of $2,500 in each of those accounts. You'll also need to use your Axos Rewards Checking account to make monthly payments on an Axos Bank mortgage, personal loan or auto loan.

• More details

  APY	1.25% on balances of $0 to $50,000 Interest-earning conditions apply.
  Fee	$0 per month
  Nonsufficient funds fee	$0
  ATM transaction fee	$0
  Foreign transaction fee	1%
  Overdraft fee	$0

APY	1.25%
Fee	$0 per month
Minimum deposit to open	$50

Go to site on Axos Bank's secure site Read review

Best for no fees

Chime Checking account

Finder rating 4.7 / 5 ★★★★★

Go to site on Chime's secure site Read review

• Pros and cons

  Pros

  • No fees. You won't pay anything for overdrafts, monthly maintenance, foreign transactions, minimum deposits and more.
  • Free overdraft protection. Chime will cover you for free if you overdraw your account up to $100. But you have at least $500 in qualifying direct deposits to be eligible.
  • Optional savings account. This checking account gives you access to Chime Savings - a linked account that earns 0.5% annual percentage yield (APY) and comes with automation tools.
  • 24/7 customer support. Chime is available at all times of the day to address customer concerns or issues.

  Cons

  • Reported account closures. Chime is currently under investigation after numerous reports of account closures in 2021.
  • Limited product selection. Chime only offers one checking and savings account, so it's not ideal for those looking to do all their banking with one institution.
  • No joint accounts or secondary cards. You can't open this account jointly with a spouse or family member. You also can't request secondary cards for other people.

• More details

  APY	N/A
  Fee	$0 per month
  ATM transaction fee	$0
  Foreign transaction fee	3%
  Overdraft fee	$0

Pros

• No fees. You won't pay anything for overdrafts, monthly maintenance, foreign transactions, minimum deposits and more.
• Free overdraft protection. Chime will cover you for free if you overdraw your account up to $100. But you have at least $500 in qualifying direct deposits to be eligible.
• Optional savings account. This checking account gives you access to Chime Savings - a linked account that earns 0.5% annual percentage yield (APY) and comes with automation tools.
• 24/7 customer support. Chime is available at all times of the day to address customer concerns or issues.

Cons

• Reported account closures. Chime is currently under investigation after numerous reports of account closures in 2021.
• Limited product selection. Chime only offers one checking and savings account, so it's not ideal for those looking to do all their banking with one institution.
• No joint accounts or secondary cards. You can't open this account jointly with a spouse or family member. You also can't request secondary cards for other people.

• More details

  APY	N/A
  Fee	$0 per month
  ATM transaction fee	$0
  Foreign transaction fee	3%
  Overdraft fee	$0

Disclaimer

Chime says:

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, pursuant to a license from Visa U.S.A. Inc. and may be used everywhere Visa cards are accepted.

The retailer that receives you cash will be responsible for transferring the funds for deposit into you Chime Checking Account. Cash deposit fees may apply if using a retailer other than Walgreens.

Chime Checking Account is required to be eligible for a Savings Account.

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.

Chime SpotMe is an optional, no fee service that requires a single deposit of $200 or more in qualifying direct deposits to the Chime Checking Account each month. All qualifying members will be allowed to overdraw their account up to $20 on debit card purchases and cash withdrawals initially, but may be later eligible for a higher limit of up to $200 or more based on member's Chime Account history, direct deposit frequency and amount, spending activity and other risk-based factors. Your limit will be displayed to you within the Chime mobile app. You will receive notice of any changes to your limit. Your limit may change at any time, at Chime's discretion. Although there are no overdraft fees, there may be out-of-network or third party fees associated with ATM transactions. SpotMe won't cover non-debit card transactions, including ACH transfers, Pay Friends transfers, or Chime Checkbook transactions. See Terms and Conditions.

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

Mobile Check Deposit eligibility is determined by Chime in its sole discretion and may be granted based on various factors including, but not limited to, a member's direct deposit enrollment status.

FDIC deposit insurance limit to $250,000 per depositor, per insured bank, per ownership category. For Stride Savings Account depositors, funds are eligible for FDIC insurance when it arrives at the bank. Please visit the Chime site for more details on FDIC insurance.

APY	N/A
Fee	$0 per month
Minimum deposit to open	$0

Go to site on Chime's secure site Read review

Best online business checking account

BlueVine Business Checking

Finder rating 4.5 / 5 ★★★★★

Go to site on Bluevine's secure site Read review

• Pros and cons

  Pros

  • Unlimited transactions. Make as many deposits and withdrawals as you'd like without worrying about being charged fees.
  • No hidden fees. You won't pay anything for monthly maintenance, incoming wires, non-sufficient funds and more. Plus, there's no opening deposit to get started.
  • Earns interest. When you spend at least $500 a month or receive $2,500 in customer payments you'll earn 1.5% interest on balances up to $100,000.
  • Accepts cash deposits. Unlike most online accounts, this one accepts cash deposits at over 90,000 Green Dot locations nationwide.

  Cons

  • Fee for cash deposits. Expect to pay $4.95 each time you deposit cash through Green Dot.
  • No savings account options. This is the only account offered by BlueVine. You won't find any other banking products.

• More details

  APY	1.50% on balances of $0 to $100,000 You need spend $500 a month or receive $2,500 a month in customer statements.
  Fee	$0 per month
  Nonsufficient funds fee	$0
  ATM transaction fee	$0
  Overdraft fee	$0

Pros

• Unlimited transactions. Make as many deposits and withdrawals as you'd like without worrying about being charged fees.
• No hidden fees. You won't pay anything for monthly maintenance, incoming wires, non-sufficient funds and more. Plus, there's no opening deposit to get started.
• Earns interest. When you spend at least $500 a month or receive $2,500 in customer payments you'll earn 1.5% interest on balances up to $100,000.
• Accepts cash deposits. Unlike most online accounts, this one accepts cash deposits at over 90,000 Green Dot locations nationwide.

Cons

• Fee for cash deposits. Expect to pay $4.95 each time you deposit cash through Green Dot.
• No savings account options. This is the only account offered by BlueVine. You won't find any other banking products.

• More details

  APY	1.50% on balances of $0 to $100,000 You need spend $500 a month or receive $2,500 a month in customer statements.
  Fee	$0 per month
  Nonsufficient funds fee	$0
  ATM transaction fee	$0
  Overdraft fee	$0

APY	1.50%
Fee	$0 per month
Minimum deposit to open	$0

Go to site on Bluevine's secure site Read review

Best for cash back

Discover Cashback Debit

Finder rating 4.8 / 5 ★★★★★

Read Review

• Pros and cons

  Pros

  • Earn rewards. Get 1% cash back on up to $3,000 eligible debit card purchases each month.
  • Minimal fees. This free account has no minimum balance requirements or monthly fees. Plus, you won't pay for incoming wire transfers.
  • Fee forgiveness. Discover reimburses one insufficient fund or stop payment fee a year.

  Cons

  • No cash deposits. Discover doesn't accept cash deposits or traveler's checks. But you can still deposit checks through your mobile phone, direct deposit, mail or make an online transfer.
  • $510 withdrawal limit. Although it falls within the average withdrawal limit, there are other accounts that have much higher limits.

• More details

  APY	N/A
  Rewards	Earn 1% cash back on up to $3,000 in debit card purchases each month.
  Fee	$0 per month
  Nonsufficient funds fee	$0
  ATM transaction fee	$0
  Overdraft fee	$0

Pros

• Earn rewards. Get 1% cash back on up to $3,000 eligible debit card purchases each month.
• Minimal fees. This free account has no minimum balance requirements or monthly fees. Plus, you won't pay for incoming wire transfers.
• Fee forgiveness. Discover reimburses one insufficient fund or stop payment fee a year.

Cons

• No cash deposits. Discover doesn't accept cash deposits or traveler's checks. But you can still deposit checks through your mobile phone, direct deposit, mail or make an online transfer.
• $510 withdrawal limit. Although it falls within the average withdrawal limit, there are other accounts that have much higher limits.

• More details

  APY	N/A
  Rewards	Earn 1% cash back on up to $3,000 in debit card purchases each month.
  Fee	$0 per month
  Nonsufficient funds fee	$0
  ATM transaction fee	$0
  Overdraft fee	$0

APY	N/A
Fee	$0 per month
Minimum deposit to open	$0

Read Review

Best for travel

Charles Schwab High Yield Investor Checking

Finder rating 4.8 / 5 ★★★★★

Read Review

• Pros and cons

  Pros

  • Worldwide ATM reimbursements. Use any Charles Schwab ATM for free and get unlimited reimbursements at non-network ATMs worldwide.
  • No foreign transaction fees. Charles Schwab doesn't charge any fees for foreign transactions, checks, stop payments and more.
  • Earns interest. While most checking accounts don't earn interest, this one pays 0.25% on your balance.

  Cons

  • Brokerage account requirements. You must have a brokerage account with Charles Schwab to qualify for this account.
  • No foreign wire transfers. You can't send or receive wire transfers from outside the US with this account.
  • Hard pull. Some banks perform soft pulls on your credit during account opening, but Charles Schwab does a hard pull.

• More details

  APY	0.25%
  Fee	$0 per month
  ATM transaction fee	$0
  Foreign transaction fee	0%
  Overdraft fee	$0
  Paper statement fee	$0

Pros

• Worldwide ATM reimbursements. Use any Charles Schwab ATM for free and get unlimited reimbursements at non-network ATMs worldwide.
• No foreign transaction fees. Charles Schwab doesn't charge any fees for foreign transactions, checks, stop payments and more.
• Earns interest. While most checking accounts don't earn interest, this one pays 0.25% on your balance.

Cons

• Brokerage account requirements. You must have a brokerage account with Charles Schwab to qualify for this account.
• No foreign wire transfers. You can't send or receive wire transfers from outside the US with this account.
• Hard pull. Some banks perform soft pulls on your credit during account opening, but Charles Schwab does a hard pull.

• More details

  APY	0.25%
  Fee	$0 per month
  ATM transaction fee	$0
  Foreign transaction fee	0%
  Overdraft fee	$0
  Paper statement fee	$0

APY	0.25%
Fee	$0 per month
Minimum deposit to open	$0.01

Read Review

Best overall

Capital One 360 Checking

Finder rating 4.2 / 5 ★★★★★

Read Review

• Pros and cons

  Pros

  • Early paydays. If your employer pays you via direct deposit, your paycheck could arrive in your account up to two days early.
  • 0.1% APY. Most no-fee checking accounts don't earn any interest, but this one earns 0.1% on your balance.
  • Overdraft protection. Choose from four overdraft protection options: auto-decline, next-day grace period, a free transfer from your savings or an overdraft line of credit.

  Cons

  • Credit checks. If you choose an overdraft line of credit as your overdraft protection option, Capital One makes a hard pull on your credit.
  • Other fees. Be on the lookout for fees for overnight check deliveries, overnight card replacements, stop payment requests and more.

• More details

  APY	0.10%
  Fee	$0 per month
  Nonsufficient funds fee	$9
  ATM transaction fee	$0
  Foreign transaction fee	0%
  Overdraft fee	$35
  Paper statement fee	$5

Pros

• Early paydays. If your employer pays you via direct deposit, your paycheck could arrive in your account up to two days early.
• 0.1% APY. Most no-fee checking accounts don't earn any interest, but this one earns 0.1% on your balance.
• Overdraft protection. Choose from four overdraft protection options: auto-decline, next-day grace period, a free transfer from your savings or an overdraft line of credit.

Cons

• Credit checks. If you choose an overdraft line of credit as your overdraft protection option, Capital One makes a hard pull on your credit.
• Other fees. Be on the lookout for fees for overnight check deliveries, overnight card replacements, stop payment requests and more.

• More details

  APY	0.10%
  Fee	$0 per month
  Nonsufficient funds fee	$9
  ATM transaction fee	$0
  Foreign transaction fee	0%
  Overdraft fee	$35
  Paper statement fee	$5

APY	0.10%
Fee	$0 per month
Minimum deposit to open	$0

Read Review

How does an online checking account work?

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.

Can I withdraw money from an online checking account?

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.

Pros and cons of an online checking account

Here are a few benefits and disadvantages of an online checking account:

Are online checking accounts safe?

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:

• Security. When you log in to your account online, make sure that the lock symbol appears in your browser. It’s also important to use a secure password for your account and not give it away to anyone or write it down and leave it in an unsecure location.
• Bank features. Some online banks won’t offer all the features of a traditional bank, such as mortgages, car loans and business accounts. If you need these financial products in the future, you won’t be able to bundle them together with your checking account, and you could miss out on loyalty bonuses.

Compare online checking accounts

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.

Sort by:

Name	Product	APY	Minimum deposit to open	ATMs	Out-of-network ATM fee	Offer
Bonus Juno Finder Rating: 4.8 / 5: ★★★★★ Juno Finder Rating: 4.8 / 5: ★★★★★	Bonus	1.20% on balances of $0 to $5,000 0.25% on balances of $5,000.01+	$0	More than 85,000 ATMs nationwide	$0	Metal checking is free for the first 6 months	A free account for crypto and cash that earns a 1.2% bonus rate plus 5% cashback on purchases from participating retailers.	Go to site View details	Compare	loading Fetching your data...
Aspiration Spend & Save Account Finder Rating: 4.2 / 5: ★★★★★ Aspiration Spend & Save Account Finder Rating: 4.2 / 5: ★★★★★		5.00% on balances of $0 to $10,000 3.00% on balances of $0 to $10,000	$10	55,000+ free Allpoint ATMs worldwide	$0		Deposits are fossil fuel-free and insured by the FDIC. Enjoy a spend and save combo account with unlimited cash back rewards.	Go to site View details	Compare	loading Fetching your data...
Bonus HSBC Premier Checking Finder Rating: 2.7 / 5: ★★★★★ HSBC Premier Checking Finder Rating: 2.7 / 5: ★★★★★	Bonus	0.01% on balances of $5+	$0	Free to use at all ATMs in the US	$0	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.	Go to site View details	Compare	loading Fetching your data...
Bonus Chase Total Checking® Finder Rating: 3 / 5: ★★★★★ Chase Total Checking® Finder Rating: 3 / 5: ★★★★★	Bonus	N/A	$0	Access to 16,000 ATMs and more than 4,700 branches nationwide	$3	New Chase checking customers enjoy a $200 bonus when you open a new Chase Total Checking® account and set up direct deposit.	Chase Total Checking is easy to use and gives you access to 16,000 ATMs and more than 4,700 branches. It offers a $200 signup bonus to new Chase customers	Open an account View details	Compare	loading Fetching your data...
Axos Bank Essential Checking Finder Rating: 5 / 5: ★★★★★ Axos Bank Essential Checking Finder Rating: 5 / 5: ★★★★★		N/A	$0	ATM fees reimbursed at any ATM nationwide			No fees. Unlimited domestic ATM fee reimbursements.	Go to site View details	Compare	loading Fetching your data...
Axos Bank Rewards Checking Finder Rating: 4.2 / 5: ★★★★★ Axos Bank Rewards Checking Finder Rating: 4.2 / 5: ★★★★★		1.25% on balances of $0 to $50,000	$50	ATM fees reimbursed at any ATM nationwide	$0		Earn up to 1.25% APY while enjoying a suite of digital tools for smarter money management.	Go to site View details	Compare	loading Fetching your data...
LendingClub Rewards Checking Finder Rating: 4.4 / 5: ★★★★★ LendingClub Rewards Checking Finder Rating: 4.4 / 5: ★★★★★		0.15% on balances of $100,000+ 0.10% on balances of $2,500 to $99,999.99	$100	Over 37,000 free ATMs	$0		The LendingClub Rewards Checking account gives you the opportunity to earn 1% cash back on everyday purchases and up to 0.15% interest.	Go to site View details	Compare	loading Fetching your data...

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Bottom line

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.

Frequently asked questions

• Can I have my salary deposited directly into an online transaction account?

  Yes, you should be able to set up automatic deposits into your account.

• Is there an age restriction for an online checking account?

  You’ll generally need to be at least 18 to open a checking account, but some banks will let you open a joint account with a parent before you’re 18.

• Can I link an online checking account to a savings account?

  Yes, most banks with online checking accounts will link online savings accounts.