Updated as of July 24, 2025.
The best online checking accounts typically don't have high minimum balances, monthly fees and offer access to a large ATM network.
While brick-and-mortar banks may offer some online checking account features, too, they may come at a cost: high minimum balances, monthly fees and out-of-network ATM fees.
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Disclaimer: Please note that the details of these bank accounts may vary by region and may change. All details are accurate as of April 24, 2025.
Ally Bank's Spending Account comes with all the bells and whistles you'd want from an online checking account, including no monthly fees, a robust mobile app, a very large ATM network and the account doesn't have overdraft fees. What's more, the account earns some interest and offers free standard checks.
LendingClub Bank's LevelUp Checking account earns one percent cash back on eligible purchases if you meet certain qualifications. To boot, the account even earns a pretty competitive interest rate (for a checking account), though you'll need to keep at least $2,500 in your account to earn that rate. Beyond these two perks, customers also get unlimited rebates on ATM surcharges and early pay.
The Discover® Cashback Debit account is a good option for those who want to earn cash back without jumping through hoops. Unlike with LendingClub, you don't have to meet any requirements to start earning cash back but there is a limit to how much you can earn: 1 percent cash back on up to $3,000 worth of debit card purchases a month. Apart from that perk, there's no minimum deposit required to open an account and the account also doesn’t charge fees.
The Capital One 360 Checking account is an online checking account that comes with the usual perks — massive fee-free ATM network, some interest, and few fees. It also comes with a rarity for online checking: branch access. Capital One has about 260 branches, mostly in the northeast and south and runs “cafés” in D.C. and a few states in the west.
Axos Bank's Essential Checking account holders get an unlimited amount of rebates on ATM fees incurred. If you find yourself needing to pull out cash often, this could give you peace of mind. This account also doesn't charge a monthly service fee, overdraft fees and non-sufficient funds (NSF) fees.
Bask Bank has an online checking account that pays a competitive yield (for a checking account) of 1 percent APY. The Interest Checking account doesn't have a monthly service fee, overdraft fees and its customers can access more than 55,000 fee-free ATMs. In addition to paying a great rate on its checking, Bask Bank has one of best high-yield savings accounts on offer too: its Interest Savings account pays a highly competitive APY of
First Internet Bank's Free Checking account is a simple, good checking account: it has a low minimum opening deposit requirement and it doesn't have a monthly service fee or overdraft fees. You won't find rewards or interest earned here, but if you want a reliable account from an online bank that helped pioneer online banking, this might be a good option for you.
The Alliant Credit Union High-Rate Checking account is an interest-bearing account from an online-only credit union. Alliant is special because unlike some credit unions, nearly anyone can join Alliant by becoming an Alliant Credit Union Foundation digital inclusion advocate. The account has many of the best things from a checking account: no monthly service or overdraft fees, a bit of interest and good ATM access.
Online-only banks are more likely to offer an interest-bearing checking account with a competitive yield.
Some online banks are a part of a large ATM networks.
Online banks might refund some or all of your ATM fees.
Generally, you can't conduct in-person banking at an online bank.
Online banks lack in-person features, such as safe deposit boxes.
Some online banks don't allow cash deposits.
A brick-and-mortar bank is more ideal for withdrawing a large amount of cash.
The best online checking account for you will depend, of course, on you. As with any purchase, researching and comparing online banks can help you make the best decision. Always check to make sure the institution you're banking with is federally insured (by the FDIC for banks and NCUA for credit unions). Apart from that, here are some things to consider when choosing an online checking account:
The good news about banking and financial services is that there's a virtual treasure trove of services and choices available. Ask yourself what are your personal priorities, such as mobile apps, a nearby brick-and-mortar outlet, or superior high-yield savings rates. A range of choices is good!Mark Hamrick, Senior Economic Analyst, Bankrate
Bankrate researches over 100 banks, including some of the largest financial institutions, online-only banks, regional banks and credit unions with both open and restrictive membership policies.
To find the best online checking accounts, we rated these institutions on their checking account fees, minimum deposit requirements, ATM network, overdraft policies, APY offerings and more.
The online checking accounts on this page are selected based on their Bankrate score and mobile app ratings. Only banks and credit unions with broadly available checking accounts made the list. Learn more about how we choose the best banking products and our methodology for reviewing banks.
