Online checking accounts are similar to traditional checking accounts at brick-and-mortar banks. The key difference is you will never visit a physical bank branch. All financial transactions are handled through a website or mobile app.
While many traditional brick-and-mortar banks offer digital services, CNET’s list of online checking accounts focuses exclusively on accounts offered by online-only banks. All banks included in our survey are insured by either the Federal Deposit Insurance Corporation (FDIC) or National Credit Union Administration (NCUA) for up to $250,000. They also offer mobile check deposits and provide access to telephone or chat support. Online-only banks are safe places to store your money and have less overhead than traditional banks, which means they can pass savings on to their customers in the form of fewer fees and higher annual percentage yields, or APYs.
To make our list of best online, we looked for banks that offer high interest rates, low fees and other added benefits such as new account bonuses. If you’re in the market for a new, online-only checking account, read on.
CNET’s picks for the top online checking accounts
Top Online Checking Accounts
|Bank||APY||Min deposit required||Monthly fees||Top feature|
|Sofi||2.50%||$0||$0||$50 to $300 new account bonus|