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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.
| APY | 1.00% |
|---|---|
| Fee | $0 per month |
| Minimum deposit to open | $50 |
Finder rating 4.7 / 5 ★★★★★
| APY | N/A |
|---|---|
| Fee | $0 per month |
| Minimum deposit to open | $0 |
| APY | 1.00% |
|---|---|
| Fee | $0 per month |
| Minimum deposit to open | $0 |
| APY | N/A |
|---|---|
| Fee | $0 per month |
| Minimum deposit to open | $0 |
| APY | 0.03% |
|---|---|
| Fee | $0 per month |
| Minimum deposit to open | $0.01 |
| APY | 0.10% |
|---|---|
| Fee | $0 per month |
| Minimum deposit to open | $0 |
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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