Best Online Banks In The USA

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Best digital banks in the U.S. are:

Ally Bank. High-yield savings and 24/7 support.
Quontic Bank. Bitcoin rewards and innovative features.
Chime. Fee-free banking and early deposits.
SoFi. Combined checking, savings, and loans.
Varo Bank. No fees and early deposits.

Banking has evolved, making it easier than ever to manage finances through smartphones. Digital-only banks now offer seamless, branch-free banking experiences through apps and online platforms.

These modern banks provide convenient features such as mobile check deposits, bill payments, and budgeting tools. With higher interest rates and fewer fees compared to traditional banks, they’ve gained popularity, especially among those who prefer flexibility.

This article highlights some of the top digital banks in the US, focusing on account options, fees, investment services, and customer support.

Best digital banks in the USA for 2025

Ally Bank

Ally Bank Review

Ally Bank stands out as a top digital banking option due to its robust features and user-friendly platform. It offers no maintenance fees, comprehensive budgeting tools, and the ability to create savings buckets to organize finances. With a competitive savings APY of 4.25%, it’s a great choice for maximizing returns. The bank provides 24/7 customer support via phone, chat, and email, ensuring constant assistance. Unique features like robo-advisory services and automatic savings transfers enhance its appeal. Additionally, Ally gives fee-free access to 43,000+ ATMs and reimburses up to $10/month for out-of-network fees.

Key features:

No overdraft fees for savings or checking.
Tools for goal-based savings tracking.
Real-time alerts for transactions and balances.

Quontic Bank

Quontic Bank Review

Open an account

Via Quontic's secure website.

Quontic Bank is a forward-thinking digital bank, ideal for those seeking innovative banking solutions. It features a Bitcoin rewards debit card and specialty checking accounts, making it appealing to freelancers and low-income earners. With a savings APY of 4.05%, it provides solid returns. Support is available through phone, email, and FAQs, and the bank prioritizes crypto-friendly services with no monthly fees on checking accounts. Quontic offers access to 90,000+ fee-free ATMs, making it convenient for withdrawals.

Key features:

Offers mortgage products for non-traditional borrowers.
Customizable spending controls via the app.
Quick online account opening process.

Chime

Chime Bank Review

Chime is a popular digital banking option for its simplicity and transparency. It offers early direct deposits, no overdraft fees, and no minimum balance requirements, making it accessible for all. Its savings APY of 2.00% is competitive, and email and app-based support provide reliable assistance. Chime’s unique benefits include the Credit Builder Secured Card to help improve credit scores and an automatic savings roundup feature to build savings effortlessly. Customers can access 60,000+ fee-free ATMs, adding to its convenience.

Key features:

Fee-free overdrafts up to $200 through "SpotMe."
Seamless app-based money transfers.
Instant transaction notifications for all spending.

SoFi

SoFi Bank Review

SoFi is a comprehensive digital bank that combines banking, lending, and investing in one platform. It offers no account fees, high-yield savings accounts with an APY of 4.50% (with direct deposit), and unique perks like free career coaching and access to financial advisors. SoFi also boasts 24/7 customer support via phone and email, ensuring users always have help when needed. With fee-free access to 55,000+ ATMs and unlimited reimbursements for out-of-network fees, SoFi is a standout for those seeking a versatile banking experience.

Key features:

Interest-earning checking accounts.
Integration with SoFi’s investing and loan services.
Automated savings based on spending patterns.

Varo Bank

Varo Review

Varo Bank is a top choice for those prioritizing rewards and savings. It features early paycheck access, no fees, and cashback rewards for purchases. With a savings APY of 5.00% (conditions apply), Varo offers one of the highest rates among digital banks. Customer support is accessible via in-app chat and email, providing quick solutions. Unique offerings like the Varo Believe Card for credit building and cash advances make it a great choice for financial growth. The bank provides access to 40,000+ fee-free ATMs, ensuring easy and cost-effective withdrawals.

Key features:

No hidden fees for overdrafts or transfers.
Cash-back savings on partnered retailers.
Intuitive mobile app for budget management.

What is a digital bank in the USA?

A digital bank is a financial institution that operates entirely online, removing the need for physical branches. Customers can open accounts by downloading the bank’s mobile app or visiting its website and completing a quick online registration process. While identity verification is required, there’s no need for in-person visits or submitting physical documents. Instead, users can upload digital copies directly from their smartphones for approval. Once verified, the account becomes fully active, granting access to all services.

Despite the lack of physical locations, digital banks offer the same essential financial services as traditional banks, including:

Securely storing customer data and financial records.
Safeguarding client funds.
Facilitating transactions and payment processing.
Generating detailed reports and more.

Digital banks offer the same core services as traditional banks but with far greater convenience, making them increasingly popular. Their streamlined processes and user-friendly design continue to drive significant growth in demand.

Below is a detailed overview of some of the leading digital banks in the U.S. This comparison is based on well-researched insights, focusing on their financial features, security measures, fee structures, customer support, and unique benefits to provide a well-rounded evaluation for informed decision-making.

Best digital banks in the USA for 2025
Bank	Key features	Savings APY	Customer support	Unique benefits	ATM access
Ally Bank	No fees, budgeting tools, savings buckets	4.25% (varies)	24/7 phone, chat, email	Robo-advisory, automatic transfers	43,000+ free ATMs, $10 reimbursements
Quontic Bank	Bitcoin rewards, flexible checking accounts	4.05% (varies)	Phone, email, FAQs	Crypto-friendly banking, fee-free checking	90,000+ free ATMs
Chime	Early deposits, no overdraft fees	2.00% (varies)	Email, app-based help	Credit Builder Card, automatic savings	60,000+ free ATMs
SoFi	No fees, loans, high-yield savings	4.50% (with deposit)	24/7 phone, email	Career coaching, financial advisors	55,000+ free ATMs, fee reimbursements
Varo Bank	Early paychecks, no fees, cashback rewards	5.00% (with conditions)	In-app chat, email

How to select the right digital bank in the U.S.

With a growing number of digital banks in the U.S., consumers are spoilt for choice. While this is great, the sheer volume of options can make finding the perfect fit for your needs a bit challenging. Here are some key factors to consider when choosing the best digital bank for you:

Evaluate service charges

Digital banks vary significantly in how they charge for services. Some banks offer free transactions, while others impose fees for account setup or routine activities.

Look for a bank with a fee structure that aligns with your budget and usage. While free options may seem appealing, it’s important to weigh other features and benefits before making a final decision.

Assess the bank’s versatility

Choose a digital bank that integrates seamlessly with multiple payment platforms. Having funds in a digital bank is less convenient if the bank isn’t compatible with the platforms you frequently use.

Check which platforms the bank supports and prioritize one that aligns with your payment habits. This ensures you’ll always have access to your money, regardless of how or where you choose to spend it.

Consider user experience

Digital banks typically offer mobile apps and websites for conducting transactions. It’s crucial to select a bank with a user-friendly interface to make your banking experience smooth and hassle-free.

Read customer reviews to get a sense of how intuitive the bank’s app or website is. A well-designed platform can save you time and frustration when managing your finances.

Ensure 24/7 availability

Opt for a digital bank that operates round the clock. Some digital banks have limited hours, which can be inconvenient, especially if you’re in a different time zone or traveling internationally.

Additionally, confirm that the bank provides 24/7 customer support to handle any issues promptly. This is particularly important if you rely on your digital bank for travel or emergencies.

By considering these factors, you can confidently choose a digital bank that meets your financial needs and fits seamlessly into your lifestyle.

Fees associated with U.S. digital banks

Digital banks operate differently from traditional banks, and their fee structures reflect this distinction. Here’s a closer look at the common types of fees you might encounter when using a digital bank in the U.S.:

Registration fees

Some digital banks charge a one-time fee for account registration, but many offer free signup. In some cases, entry-level accounts are free, while premium accounts with added features may come with a fee. Be sure to check the registration terms for the account type you’re interested in.

Monthly fees

Certain digital banks impose a monthly service fee for maintaining your account. For example, Tend charges $10 per month for its standard accounts. On the other hand, many digital banks waive monthly fees entirely, making them a more attractive option for cost-conscious users.

Transaction fees

These fees apply when you perform activities like withdrawals, deposits, transfers, or balance inquiries through the bank’s platform. While most digital banks keep transaction fees low, international transactions may come with higher charges. Always review the bank’s fee schedule to understand the costs associated with different types of transactions.

Overdraft fees

If you spend more than the available balance in your account, your bank may charge an overdraft fee. Digital banks vary in how they handle overdrafts, with some offering overdraft protection programs to minimize costs.

By understanding the fee structures of digital banks, you can select an option that aligns with your financial needs while avoiding unnecessary charges.

Pros and cons of digital banks

Digital-only banks, which operate entirely online without physical branches, have become increasingly popular due to their convenience. However, the branchless model does come with its own set of challenges. Here’s a look at the benefits and drawbacks of digital banking:

Lower fees. Most digital banks eliminate monthly fees and surcharges, allowing you to save more by avoiding the common costs associated with traditional banking.
Convenience of paperless banking. Manage your finances anytime, anywhere through user-friendly mobile apps. Tasks like paying bills, depositing checks, and transferring funds are all done digitally — no paper or branch visits required.
Higher interest rates. Digital banks often provide better returns on savings accounts and CDs, helping your money grow faster compared to traditional banks.
Strong security features. Advanced encryption and multiple layers of protection, such as PINs and passwords, ensure your funds and personal information remain safe.
Banking on your schedule. With 24/7 access, you can manage your accounts from any device without worrying about bank hours or waiting in line.

No in-person support. While online banking covers most needs, some users miss the option of speaking face-to-face with a teller for complex issues or personalized assistance.
Limited ATM networks. Digital banks often lack widespread ATM networks, meaning you may incur fees when using ATMs from other institutions.
Cash deposit limitations. Some digital banks don’t accept cash deposits directly, requiring workarounds like using partner ATMs or third-party services to fund your account.

Are digital banks secure?

Digital banks implement robust security measures to protect customers' financial information, making them a reliable option for managing finances. They employ advanced technologies such as two-factor authentication (2FA), biometric verification, and encryption to safeguard user data. Many digital banks have login protection mechanisms to prevent unauthorized access and use sophisticated algorithms to detect and prevent fraudulent activities.

Additionally, most digital banks are insured by the Federal Deposit Insurance Corporation (FDIC), offering the same level of deposit protection as traditional banks. This means that, in the event of a bank failure, customers' deposits are protected up to the insured limit. While digital banks prioritize security, customers should also practice good online habits, such as using strong, unique passwords and being cautious of phishing attempts, to further enhance their account safety.

Look for value-added perks that align with your lifestyle

When choosing the best digital bank, focus on more than just fee-free options or high-yield accounts — look for value-added perks that align with your lifestyle. For example, some digital banks offer automated savings tools that round up every transaction and move the difference into savings.

Others provide cash-back debit cards linked to specific categories, like dining or groceries, giving you hidden savings on routine purchases. Instead of settling for a generic offering, opt for a digital bank that integrates financial literacy resources within their app. Interactive budgeting features and financial wellness tools help you track spending, set financial goals, and improve habits, all within one platform.

Another overlooked factor is how digital banks handle customer support and downtime notifications. Many beginners assume that 24/7 support means live agents are always available, but some banks rely heavily on chatbots, which can frustrate you during complex issues.

So, dig deeper — read reviews on customer service response times, and test how long they take to handle issues during peak hours. Also, check if the bank proactively alerts users when their app undergoes maintenance or updates that could temporarily block access. This level of transparency can prevent major headaches, especially if you depend on digital banking for urgent transfers or bill payments.

Conclusion

Digital banks are redefining how people manage their finances by offering convenience, lower fees, and powerful features. Their user-friendly platforms, higher interest rates, and seamless online services make them an ideal choice for modern banking needs. To ensure you get the most out of your digital banking experience, carefully compare account options, fee structures, and security features.

Choosing the right digital bank can transform your financial management into a faster, smarter, and more secure process. Take control of your money by selecting a digital bank that aligns with your goals and offers the best support for your financial journey.

FAQs

How do you sign up for a digital bank?

Signing up typically involves downloading the bank’s mobile app or visiting their website, providing your personal information, and verifying your identity through a quick online process.

Can you deposit and withdraw cash from a digital bank?

Some digital banks allow cash deposits and withdrawals via partner ATMs or specific locations. However, not all offer this service, so it’s important to check beforehand.

Are digital banks just as safe as traditional banks?

Yes, most digital banks are highly secure, using encryption, two-factor authentication, and regulatory compliance to protect your funds and data.

Can I still speak to someone if I have issues?

Absolutely. Many digital banks offer 24/7 customer support through chat, email, or phone. While in-person assistance isn’t available, virtual support is typically efficient and helpful.

Team that worked on the article

Rinat Gismatullin is an entrepreneur and a business expert with 9 years of experience in trading. He focuses on long-term investing, but also uses intraday trading. He is a private consultant on investing in digital assets and personal finance. Rinat holds two degrees in Economy and Linguistics.

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Chinmay Soni is a financial analyst with more than 5 years of experience in working with stocks, Forex, derivatives, and other assets. As a founder of a boutique research firm and an active researcher, he covers various industries and fields, providing insights backed by statistical data. He is also an educator in the field of finance and technology.

As an author for Traders Union, he contributes his deep analytical insights on various topics, taking into account various aspects.

Mirjan Hipolito is a journalist and news editor at Traders Union. She is an expert crypto writer with five years of experience in the financial markets. Her specialties are daily market news, price predictions, and Initial Coin Offerings (ICO).