Top 7 Best Banks to Open a Checking Account Online in the US

For many of us, most of our financial lives take place online. Direct debits, debit cards, and online banking have eliminated the need for most people to visit a physical bank. Many new options are opening up for online checking accounts to suit your banking needs without being limited to local banks. What are the best checking accounts to open online in the US? Below Here are the seven best options for banks with online checking accounts.

Citibank

Citibank is my top recommendation for opening an online checking account. Citi is not only one of the world’s largest financial institutions, but also has access to branches in multiple US states. Their online he banking feature is one of the best among all big banks. Citi also offers Zelle, free bill payments, and wire transfer fees are among the lowest we’ve seen.

Axos Bank

Axos Bank ranks among the top three online checking accounts, primarily due to the extensive benefits and competitive interest rates offered to online checking account customers. Axos has only three branches in San Diego, Las Vegas and Ohio, but provides banking services to hundreds of thousands of customers nationwide and has more than $14 billion in assets.

Axos offers the absolute highest interest rates on checking accounts generally available to US customers, but there are also stricter guidelines that customers must adhere to or their interest rates will be reduced. Banks currently offer 1.25% APY on Rewards Checking accounts, but APY is split and gated behind several requirements.

• Receiving direct deposits of at least $1,500 (or more) monthly earns your income 0.40% APY
• Get 1 more when you use your Axos debit card 10+ times over $3 in a month or sign up for PFM 0.30%.
• Earn when you maintain an average daily balance of $2,500 per month in your SDT account 0.20%.
• obtain 0.20% If you maintain an average daily balance of $2,500 per month in your MP account.
• Earn an additional 0.15% APY for a total of 1.25% when you use your Rewards Checking account to complete monthly payments on your Axos Bank consumer loan.

Please note that this APY only applies to accounts under $150,000. If the ledger balance exceeds that value, the account stops earning interest permanently.

This tiered interest rate system may seem complicated, but anyone who actively uses their checking account can use these to get a very competitive APY on their checking account. Checking at least two of the boxes is pretty easy. Axis Rewards Checking is even more attractive because there is no minimum account amount and Axos does not charge overdrafts or maintenance fees. A limited ATM network and its very limited physical branches may put people looking for a checking account away from Axos, but for those whose financial infrastructure resides mostly online, the stable It’s an excellent option for a convenient check at a low interest rate.

chime

Chime is the next best choice when it comes to online checking account providers. This is a next-generation technology company focused on providing online-only banking services. Chime’s model reduces overhead by not having local branches. It can then offer many great features that traditional banks cannot offer. Free overdraft protection, no monthly maintenance fees, and more. Chime customers seem to love using this app and personally I have heard many of my friends raving about this banking his app.

NBKC Bank

NBKC, which stands for National Bank of Kansas City, is a nationwide provider of online banking. They offer a select number of physical locations throughout the Kansas City area, but otherwise process the majority of their accounts online only. This is in no small part due to the fact that it offers very convenient and powerful banking tools and offers easy and versatile accounts. While the lack of a physical location may limit the use of NBKC for some customers, over 37,000 MoneyPass ATMs nationwide can be used without fees through NBKC debit cards.

NBKC’s Everything Account offers both checking and savings in the same ecosystem and offers a competitive interest rate of 0.15%. There are absolutely no overdrafts, maintenance fees, or foreign transaction fees, and no minimum balance. Fees for services such as wire transfers can be much higher than traditional banking institutions, but NBKC may be the best option for those who do not require additional charges for their checking or savings accounts. I have.

capital one

Capital One has been around for some time as a leading credit card provider, but has expanded its reach in recent years to hybridize into full-service banking. It is one of the most popular online financial institutions in the country and also offers physical branches in some locations. In addition to our well-known credit card services, we also offer checking and savings accounts leveraging our existing mobile solutions and partner network. For many Capital One Credit account holders, this means being able to bring banking, lending and credit monitoring all into one ecosystem with well-developed security and support.

Their well-established financial record makes Capital One 360 ​​Checking potentially a convenient option for many people looking for a checking account online, but the bank’s over 700 branches and 30 cafes Style’s location may limit many checking account users to online use only. Nonetheless, Capital One partners with many ATM providers to conduct fee-free transactions, so if you live in an area where a Capital One branch is located, or you don’t have physical access to your checking account to get the most out of it. Capital One could be one if you don’t really need multiple branches. of the best choice.

heritage bank

Heritage Bank has been in operation for nearly 80 years and offers a complete list of financial services, including checking accounts. Originally founded as a bank in Minnesota, Heritage Bank has grown to 13 branches throughout the region, but has become nationally known for the convenience of its online checking account and high interest rates. Their accounts can be created by anyone in the United States and accessed from anywhere. Their eCentive checking account currently boasts an APR of 1.02% on balances up to $25,000.

For those who only want online functionality from their checking account, Heritage’s rates are unbeatable. However, there is a stipulation that the account must meet for his eCentive APR. Otherwise, your account will default to 0.05% APR. This is a more common value for online checking accounts. Account holders must maintain at least 10 of his debit card transactions each month, receive paperless statements, and make direct deposits once a month to maintain higher interest rates. As long as these conditions are met, Heritage Bank will refund a portion of ATM fees for out-of-network transactions. If you don’t attach too much importance to physical branches and are comfortable maintaining those guidelines, Heritage Bank may be the best choice for your checking account.

consumer credit union

Credit unions differ slightly from banks in that they are member-owned. Still, Consumers Credit Inion guarantees to mention it on this list when looking for a checking account online because the Rewards checking account is one of the best values. is not just online. It operates more than 5000 branches and 30,000 ATMs nationwide and as a credit union can also be accessed through shared branches via any credit union within the CU service center network. This equates to almost full nationwide access to consumer credit union accounts, either online or in person.

In contrast to banks, in credit unions the customer is the owner. Account holders or “members” pay a $5 annual membership fee in exchange for dividends representing a share of the credit union’s profits. These often function exactly like interest, but are actually dividends as they represent the return on your investment in the credit union. Dividend APRs are incredibly competitive, but credit unions regularly impose more requirements and higher fees that members must meet for distributions.

Consumers Credit Union Rewards Checking has a tiered dividend system based on spending and deposits. To achieve an APR of 2.09% on your balance, you must perform at least 12 CCU debit card runs in a month and make at least one direct deposit or ACH payment to your account. Debit transactions must total at least $500 to increase the rate to 3.09%. To reach the highest tier of 4.09%, you must apply for a CCU credit card and spend $1000 or more per month.

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