9 Best Online Checking Accounts for 2025

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With an online account, instead of using checks to pay bills, expenses are debited directly from the account. Because the accounts are designed for strictly online use, they typically come with higher annual percentage yields, advanced cash-management tools and low or no fees.

Online banks — and brick-and-mortar banks that feature online banking — have a wide variety of checking accounts, so you can choose the one that best fits your needs. They all offer a:

• Free debit card
• Mobile app with mobile deposit
• Funds transfer with Zelle, Popmoney or some other method

How We Evaluated the Best Online Checking Accounts

In evaluating accounts to identify the best online checking accounts, GOBankingRates considered the following criteria:

• Account fees, such as monthly maintenance, overdraft and ATM fees
• Accessibility to funds via ATM and mobile apps
• APYs for interest-bearing accounts
• Customer support and account management tools

Top Online Checking Accounts

Here are some of the best online checking accounts.

1. Ally Bank Spending Account

Ally Bank charges no account fees, including overdraft fees, on its Spending Account. You can access your money at over 75,000 fee-free ATMs, and receive up to $10 in reimbursements per statement cycle for fees charged by out-of-network ATMs. Overdraft transfer and CoverDraft services help you avoid overdrafts, and spending “buckets” make it easy to set aside money for specific purposes. Plus, get paid up to two days early with direct deposit.

For balances under $15,000, Ally’s Spending Account pays APY. For a minimum daily balance of $15,000 or more, you’ll earn APY.

Pros:

• Interest-bearing account
• No monthly maintenance or overdraft fees
• No minimum opening deposit required
• Out-of-network ATM reimbursements

Cons:

• No cash deposits
• $20 fee for outgoing wire transfers

Why We Like It

Ally Bank offers a wide variety of additional products, including high-yield savings and money market accounts with competitive APYs and some of the best CD rates.

How To Open an Account

Visit the Ally Spending Account application page on the Ally website.

2. Discover® Cashback Debit Account

Most credit cards give you points for each purchase you make, which you can then redeem for a credit to your statement. Discover offers the same perk with the debit card that comes free with the Cashback Debit Account. In addition to providing 1% cash back on up to $3,000 in debit purchases each month (see website for details), the Cashback Debit Account offers no-fee checking, no minimum opening deposit and over 60,000 fee-free ATMs. Use the mobile app to activate free Online Privacy Protection to help keep your personal information off people-search sites.

Pros:

• Free cash deposits at any U.S.-based Walmart store
• No maintenance or overdraft fees
• Direct deposits are available up to two days early
• Free privacy protection
• Free check reorders

Cons:

• Not an interest-bearing account

Why We Like It

When you use your debit card to make a purchase, either online or in a store, Discover gives you 1% cash back on up to $3,000 in purchases each month. So, if you spend $3,000 on your debit card every month, you’ll get $30 back or a total of $360 a year.

How To Open an Account

Visit the Cashback Debit Account application page on the Discover website.

3. Capital One Money Teen Checking Account

Capital One Money Teen Checking Account is primarily geared towards teens, but anyone 8 years old or older can have an account and earn APY* on any balance. Your teen can be in charge of managing their money through Capital One’s highly rated mobile app and at over 70,000 fee-free ATMs, while you use parent controls to keep a close eye on the account — and lock and unlock the card if necessary. Parents who don’t have their own Capital One account can link any account to the Money Teen Checking Account. The account has no fees and no minimum balance requirements.

Pros:

• Free account
• All balances earn interest
• Free cash deposits at any CVS or Walgreens

Cons:

• Limited budgeting tools

*Capital One interest rates are accurate as of April 21, 2025. See website for all current rates.

Why We Like It

Capital One‘s Money Teen Checking Account gives parents and kids their own login on the mobile app, letting teens manage their money while parents maintain visibility. Parents can link any account and transfer money as the teen needs it.

How To Open an Account

Visit the Money Teen Checking Account application page on the Capital One website.

4. Chase College Checking

Chase is not a 100% online bank, but its College Checking℠ account has all the features college students expect from an online account. There’s no account fee for up to five years until the student graduates or turns 25. After that, the $12 monthly maintenance fee is waived if you have direct deposit of at least $500 or if you maintain a $1,500 average daily balance. The account has no minimum opening deposit requirement, and withdrawals are free at over 15,000 Chase ATMs.

Keep in mind that overdrafts are $34 per transaction, which overdraws the account by more than $50, and Chase charges it up to three times per day. But you can avoid the fee by bringing the account balance up to less than $50 overdrawn by the end of the next business day.

Pros:

• Highly rated mobile app
• Up to five years with no maintenance fees
• No minimum balance requirement
• Ability to deposit cash at branches or use an ATM

Cons:

• $34 overdraft fee
• Non-interest-bearing

Why We Like It

Students can earn a bonus of $100 when they open a new Chase College Checking account and complete 10 transactions within 60 days. Eligible transactions include:

• Online bill payments
• Debit card purchases
• Mobile deposits
• Zelle transactions
• ACH credits

How To Open an Account

Visit the College Checking account application page on the Chase website. Then complete 10 eligible transactions to earn your bonus.

5. Citizens Bank Citizens Quest Checking

The Citizens Quest Checking account is another traditional checking account that checks all your online checking boxes. It’s a relationship account, meaning it rewards customers who keep all — or most — of their accounts at the same bank. Relationship customers receive access to a team of professionals that includes a banker, Citizens Quest agents and a Financial Advice Center. In addition, Citizens Quest Checking account holders get a rate bump of at least 25% on select savings and money market accounts.

Citizen won’t charge you any ATM fees when you use another bank’s ATM with this account, although the other bank may charge you a fee. You’ll also pay no fees for checks and money orders and paper statements.

Quest Checking allows one free overdraft occurrence each year. Otherwise, the fee is $35, and Citizens can charge it up to five times per day, for a total daily overdraft fee of up to $175. But if your account is overdrawn, you have until 10 p.m. ET the following day to deposit the funds to cover the overdraft. If you do so, any overdraft fees will be reversed.

The Citizens Quest Checking account is subject to a $25 monthly maintenance fee, but it will be waived when you do either of the following:

• Make $5,000 in deposits in a month
• Maintain a combined balance of $25,000 between all your Citizens deposit and investment accounts

Pros:

• No maintenance fee on Quest Savings or Quest Money Market account when opened at the same time as Quest Checking
• Avoidable overdraft fees
• Branch locations for times when you want to bank in person

Cons:

• Potential for high overdraft fees
• Difficult-to-waive monthly maintenance fee

Why We Like It

Citizens Bank has brick-and-mortar branches but has also embraced online banking with this rewards account.

How To Open an Account

Visit the Citizens Quest Checking account application page on the Citizens Bank website.

6. SoFi® Checking and Savings

SoFi is a 100% online bank offering a combined high-yield checking and high-yield savings account with no monthly fees and no minimum balance requirements. With an APY of , SoFi Checking has one of the best rates available in a checking account. Accepting eligible direct deposits into your account earns you up to APY on the savings portion of your balance.* Setting up your direct deposit earns you a $50 to $300 cash bonus, depending on the direct deposit amount.

A network of over 55,000 Allpoint ATMs provides fee-free access to your cash. However, you can’t use an ATM to deposit cash — for that, you’ll need to visit a retailer offering GreenDot services and pay a $4.95 fee.

The Checking and Savings account has no overdraft fees, and you can entirely avoid debit-card overdrafts of up to $50 when you receive direct deposits of at least $1,000 per month. Otherwise, opt into overdraft protection to have funds moved from savings to cover overdrafts from your debit card as well as from ACH withdrawals and checks.

Pros:

• Highly competitive APY
• No monthly fees
• Free overdraft protection

Cons:

• Must pay a fee for cash deposits

Why We Like It

In addition to its combined checking and savings account with an outstanding APY, SoFi offers a full suite of financial products, including investment accounts and loans.

How To Open an Account

Visit the Checking and Savings account application page on the SoFi website. Then set up direct deposit to earn your cash bonus.

7. Schwab Bank Investor Checking

Schwab Bank Investor Checking links to your Schwab One Brokerage account to provide a cash management solution with all the functionality and benefits of a regular checking account, including a debit card and mobile banking.

There is no minimum deposit requirement for Investor Checking. Balances earn APY.

The account has no monthly service fees, overdraft fees, or fees for using Schwab ATMs, and Schwab will rebate unlimited ATM fees for cash withdrawals you make anywhere in the world. Also, you can get free standard checks

Pros:

• Highly competitive APY
• No foreign transaction fee
• Unlimited ATM rebates

Cons:

• No cash deposits

Why We Like It

Linking the Schwab Bank Investor Checking account to a Schwab One Brokerage account allows for instant and seamless funds transfers into your brokerage account.

How To Open an Account

Visit the Schwab Bank Investor Checking application page on the Schwab website.

8. American Express Rewards Checking

If you’re an American Express U.S. Basic Consumer Card holder, you’re eligible to apply for Rewards Checking from American Express. American Express Rewards Checking members earn APY on their checking account balances, plus one Membership Rewards point for every $2 of eligible debit card purchases. You can redeem Membership Rewards as deposits into your Rewards Checking account.

American Express charges $0 for you to open or maintain a Rewards Checking account. Withdrawals at Allpoint and MoneyPass ATMs in the U.S. are also free. In addition, American Express doesn’t charge overdraft fees — just pay the negative balance amount immediately, per the account agreement.

Pros:

• Generous rewards program, especially for a no-fees account
• Outstanding APY
• Large ATM network

Cons:

• No cash deposits

Why We Like It

American Express Rewards Checking gives Basic Consumer Card holders more ways to earn valuable rewards.

How To Open an Account

Visit the Rewards Checking application page on the American Express website. If you’re not already an American Express U.S. Basic Consumer Card holder, apply for your card, then apply for Rewards Checking after you’ve been a member for 35 days.

9. Axos Bank Rewards Checking

Even in the current high-rate environment, average checking rates are abysmally low. Axos Bank breaks the mold with a high-interest Rewards Checking account with a maximum APY that puts most savings account rates to shame. Each type of financial activity you engage in with Axos increases your rate, up to a maximum APY, making it a great choice for Axos lending and investing customers.

Here’s how the APYs add up:

• 0.40% when you receive at least $1,500 per month in direct deposits
• 0.30% for making 10 eligible debit-card transactions or linking an outside account
• 0.99% for maintaining a $2,500 average daily balance in an Axos Invest Managed Portfolio
• 0.99% for maintaining a $2,500 average daily balance in an Axos Self Directed Trading Account
• 0.60% for using your Rewards Checking account to make eligible Axos Bank loan payments

What’s more, Rewards Checking has no minimum opening deposit, and it costs nothing to maintain your account. In addition, Axos doesn’t charge for overdrafts. Nor does it charge ATM fees. In fact, it reimburses unlimited domestic ATM fees charged by out-of-network providers.

Pros:

• APY that rivals even high-yield savings rates
• Allows cash deposits at participating ATMs
• Reimbursements for out-of-network ATM fees

Cons:

• Need Axos loan and significant balances in investment accounts to earn top APY

Why We Like It

Axos Rewards Checking rewards customers with a high-yielding APY for taking advantage of the range of financial services Axos Bank offers.

How To Open an Account

Visit the Rewards Checking application page on the Axos Bank website.

Key Benefits of Online Checking Accounts

The most immediate pro of an online checking account is convenience — you can open and do most of your banking online, on your own schedule. Other benefits include:

• Higher APYs than you’ll typically find with checking accounts from traditional banks
• Lower fees, thanks to online banks’ lower overhead costs
• The ability to bank from anywhere you have internet access

Potential Drawbacks of Online Checking Accounts

The benefits of online checking make opening an account an easy decision for many individuals, but if you prefer to bank at a brick-and-mortar, an online account could be more of a disadvantage than anything. For example:

• Many accounts can’t accept cash deposits, so you’ll have to make deposits via checks or direct deposits, or by transferring funds from an account that allows you to deposit cash.
• An online-only account means you won’t be able to visit a branch location for in-person assistance from a teller or banker.
• Despite the rigorous security measures banks use to safeguard accounts, banking online can expose you to the risk of online hackers and phishing.

Tips for Choosing the Right Online Checking Account

With so many online checking accounts to choose from, it’s a good idea to thoroughly evaluate any you’re considering applying for. Here’s how:

• Review account fees for services like wire transfers and debit card replacement.
• Look for an account that offers a competitive APY.
• Check for sign-up bonuses — Such bonuses can be worth hundreds of dollars.
• Confirm that the ATM network has enough fee-free machines to meet your needs.

Best of Checking Accounts

• Best Checking Accounts
• Free Checking Accounts With No Minimum Deposit
• Best Free Checking Accounts With No Minimum Balance
• Best Rewards Checking Accounts
• Best Student Checking Accounts
• Best Checking Accounts for Seniors

Daria Uhlig, Melanie Grafil and Cynthia Measom contributed to the reporting for this article.

Rates are subject to change; unless otherwise noted, rates are updated periodically. All other information on accounts is accurate as of April 21, 2025.

All information about Discover® Cashback Debit has been collected independently by GoBankingRates. Discover® Cashback Debit is no longer available through GoBankingRates.

Editorial Note: This content is not provided by any entity covered in this article. Any opinions, analyses, reviews, ratings or recommendations expressed in this article are those of the author alone and have not been reviewed, approved or otherwise endorsed by any entity named in this article.

The information related to Chase College Checking was collected by GOBankingRates and has not been reviewed or provided by the issuer of this product/card. Product details may vary. Please see the issuer’s website for current information. GOBankingRates does not receive commission for this product.

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Earn up to 4.50% Annual Percentage Yield (APY) on SoFi Savings with a 0.70% APY Boost (added to the 3.80% APY as of 8/5/25) for up to 6 months. Open a new SoFi Checking & Savings account with Eligible Direct Deposit by 1/31/26. Rates variable, subject to change. Terms apply at sofi.com/banking#2. SoFi Bank, N.A. Member FDIC.

We’ve partnered with Allpoint to provide you with ATM access at any of the 55,000+ ATMs within the Allpoint network. You will not be charged a fee when using an in-network ATM, however, third-party fees incurred when using out-of-network ATMs are not subject to reimbursement. SoFi’s ATM policies are subject to change at our discretion at any time.

Overdraft Coverage is limited to $50 on debit card purchases only and is an account benefit available to customers with Eligible Direct Deposits of $1,000 or more during the current 30-day Evaluation Period as determined by SoFi Bank, N.A. The 30-Day Evaluation Period refers to the “Start Date” and “End Date” set forth on the APY Details page of your account, which comprises a period of 30 calendar days (the “30-Day Evaluation Period”). You can access the APY Details page at any time by logging into your SoFi account on the SoFi mobile app or SoFi website and selecting either (i) Banking > Savings > Current APY or (ii) Banking > Checking > Current APY. Members with a prior history of non-repayment of negative balances are ineligible for Overdraft Coverage.

*SoFi members who enroll in SoFi Plus with Eligible Direct Deposit or by paying the SoFi Plus Subscription Fee every 30 days or SoFi members with $5,000 or more in Qualifying Deposits during the 30-Day Evaluation Period can earn 3.80% annual percentage yield (APY) on savings balances (including Vaults) and 0.50% APY on checking balances. There is no minimum Eligible Direct Deposit amount required to qualify for the stated interest rate. Members without either SoFi Plus or Qualifying Deposits, during the 30-Day Evaluation Period will earn 1.00% APY on savings balances (including Vaults) and 0.50% APY on checking balances. Interest rates are variable and subject to change at any time. These rates are current as of 1/24/25. There is no minimum balance requirement. If you have satisfied Eligible Direct Deposit requirements for our highest APY but do not see 3.80% APY on your APY Details page the day after your Eligible Direct Deposit arrives, please contact us at 855-456-7634. Additional information can be found at http://www.sofi.com/legal/banking-rate-sheet. See the SoFi Plus Terms and Conditions at https://www.sofi.com/terms-of-use/#plus.

New and existing Checking and Savings members who have not previously enrolled in Direct Deposit with SoFi are eligible to earn a cash bonus of either $50 (with at least $1,000 total Eligible Direct Deposits received during the Direct Deposit Bonus Period) OR $300 (with at least $5,000 total Eligible Direct Deposits received during the Direct Deposit Bonus Period). Cash bonus will be based on the total amount of Eligible Direct Deposit. If you have satisfied the Eligible Direct Deposit requirements but have not received a cash bonus in your Checking account, please contact us at 855-456-7634 with the details of your Eligible Direct Deposit. Direct Deposit Promotion begins on 12/7/2023 and will be available through 1/31/2026. Full terms at sofi.com/banking. SoFi Checking and Savings is offered through SoFi Bank, N.A., Member FDIC. SoFi members with Eligible Direct Deposit can earn 3.80% annual percentage yield (APY) on savings balances (including Vaults) and 0.50% APY on checking balances. There is no minimum Eligible Direct Deposit amount required to qualify for the 3.80% APY for savings (including Vaults). Members without Eligible Direct Deposit will earn 1.00% APY on savings balances (including Vaults) and 0.50% APY on checking balances. Interest rates are variable and subject to change at any time. These rates are current as of 1/24/25. There is no minimum balance requirement. Additional information can be found at http://www.sofi.com/legal/banking-rate-sheet.

¹We do not charge any account, service or maintenance fees for SoFi Checking and Savings. We do charge a transaction fee to process each outgoing wire transfer. SoFi does not charge a fee for incoming wire transfers, however the sending bank may charge a fee. Our fee policy is subject to change at any time. See the SoFi Checking & Savings Fee Sheet for details at sofi.com/legal/banking-fees/.

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