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Best Online Checking Accounts of May 2023

May 26, 2023
in Uncategorized
Best Online Checking Accounts of May 2023
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Our experts answer readers’ banking questions and write unbiased product reviews (here’s how we assess banking products). In some cases, we receive a commission from our partners; however, our opinions are our own. Terms apply to offers listed on this page.

The best checking accounts at online banks can be great choices if you want an account with low fees, unique perks, or a combination of both. 


Featured Checking and Savings Account

SoFi Checking and Savings


Annual Percentage Yield (APY)

A tooltip

SoFi members with direct deposit can earn up to 4.20% annual percentage yield (APY) on savings balances (including Vaults) and 1.20% APY on checking balances. There is no minimum direct deposit amount required to qualify for the 4.20% APY for savings. Members without direct deposit will earn 1.20% APY on all account balances in checking and savings (including Vaults). Interest rates are variable and subject to change at any time. These rates are current as of 04/24/2023. Additional information can be found at http://www.sofi.com/legal/banking-rate-sheet

up to 4.20% with direct deposit


Minimum Deposit Amount
$0


Fees
$0 monthly service fees

Start saving
SoFi Bank, Member FDIC

View Full Details

SoFi SoFi Checking and Savings


Featured Checking and Savings Account

SoFi Checking and Savings


Annual Percentage Yield (APY)

A tooltip

SoFi members with direct deposit can earn up to 4.20% annual percentage yield (APY) on savings balances (including Vaults) and 1.20% APY on checking balances. There is no minimum direct deposit amount required to qualify for the 4.20% APY for savings. Members without direct deposit will earn 1.20% APY on all account balances in checking and savings (including Vaults). Interest rates are variable and subject to change at any time. These rates are current as of 04/24/2023. Additional information can be found at http://www.sofi.com/legal/banking-rate-sheet

up to 4.20% with direct deposit


Minimum Deposit Amount
$0


Fees
$0 monthly service fees

View Full Details

Start saving
SoFi Bank, Member FDIC

SoFi Checking and Savings

SoFi SoFi Checking and Savings


Start saving
SoFi Bank, Member FDIC


Featured Checking and Savings Account

Details


Fees
$0 monthly service fees


Annual Percentage Yield (APY)
up to 4.20% with direct deposit
SoFi members with direct deposit can earn up to 4.20% annual percentage yield (APY) on savings balances (including Vaults) and 1.20% APY on checking balances. There is no minimum direct deposit amount required to qualify for the 4.20% APY for savings. Members without direct deposit will earn 1.20% APY on all account balances in checking and savings (including Vaults). Interest rates are variable and subject to change at any time. These rates are current as of 04/24/2023. Additional information can be found at http://www.sofi.com/legal/banking-rate-sheet
Show more


Minimum Deposit Amount
$0
Pros & Cons
Chevron icon It indicates an expandable section or menu, or sometimes previous / next navigation options.

Pros

Check mark icon A check mark. It indicates a confirmation of your intended interaction.

FDIC insured for $2 million

Check mark icon A check mark. It indicates a confirmation of your intended interaction.

High interest rate

Check mark icon A check mark. It indicates a confirmation of your intended interaction.

Earn a higher interest rate if you set up direct deposit

Check mark icon A check mark. It indicates a confirmation of your intended interaction.

No minimum opening deposit

Check mark icon A check mark. It indicates a confirmation of your intended interaction.

No monthly service fees

Check mark icon A check mark. It indicates a confirmation of your intended interaction.

No overdraft fees

Check mark icon A check mark. It indicates a confirmation of your intended interaction.

Up to $250 bonus with qualifying direct deposit (terms apply)

Check mark icon A check mark. It indicates a confirmation of your intended interaction.

Earn up to 15% cash back at local retailers if you use a SoFi debit card

Check mark icon A check mark. It indicates a confirmation of your intended interaction.

No-fee overdraft coverage if you overdraw up to $50

Check mark icon A check mark. It indicates a confirmation of your intended interaction.

Savings tools

Check mark icon A check mark. It indicates a confirmation of your intended interaction.

Early direct deposit

Check mark icon A check mark. It indicates a confirmation of your intended interaction.

Joint account available

Cons
Dash icon A dash. It often indicates an interaction to shrink a section.

Declined purchase if you overdraw by more than $50

Dash icon A dash. It often indicates an interaction to shrink a section.

Doesn’t reimburse out-of-network ATM providers’ fees

Dash icon A dash. It often indicates an interaction to shrink a section.

May deposit cash at Green Dot locations but there’s a $4.95 fee

Highlights
Chevron icon It indicates an expandable section or menu, or sometimes previous / next navigation options.

More Information
  • FDIC insured for $2 million
  • Free access to 50,000+ Allpoint ATMs worldwide
  • Hybrid checking/savings account
  • Earn up to 15% cash back on local retailers when you use a SoFi debit card; Retailer information is available through online banking
  • Earn 4.20% APY on savings balances (Vaults included) and 1.20% APY on checking balances if you set up direct deposit
  • Earn 1.20% APY on SoFi Checking and Savings if you don’t set up direct deposit
  • Earn up to $250 cash bonus available through December 31, 2023; receive a $50 bonus if you make a direct deposit between $1,000 and $4,999 in the first 30 days of opening an account; receive a $250 bonus if you make a direct deposit of $5,000 or more in the first 30 days of opening an account
  • Create up to 20 Money Vaults to save for individual savings goals like an emergency fund or vacation
  • $4.95 fee each time you deposit cash at a Green Dot location
  • To get no-fee overdraft coverage you must have at least $1,000 in direct deposits
Additional Reading
Chevron icon It indicates an expandable section or menu, or sometimes previous / next navigation options.

    Read our review
    Read Our Review A looong arrow, pointing right

    Online checking accounts should give you access to a wide ATM network and offer other perks like high interest rates.

    Best Online Checking Accounts

    • Capital One 360 Checking®: Best for Minimal Bank Fees and Lenient Opening Requirements
    • Chime Checking Account: Best for Easy Deposits
    • Redneck Bank Rewards Checkin’ Account: Best for a High Interest Rate 
    • SoFi Checking and Savings: Best Checking/Savings Combo
    • Upgrade Rewards Checking: Best for Cash-back Rewards
    • Axos Bank Rewards Checking: Best for ATM Access
    • Schwab Bank High Yield Investor Checking® Account: Best for Strong Customer Service
    • Wealthfront Cash Account: Best Cash Management Account

    Here are our top picks for the best online checking accounts. We know that the “best” means something different for everyone, so we’ve listed each account’s strengths and limitations. All of the financial institutions on our list are protected by FDIC or NCUA insurance. Although First Republic Bank was recently shut down, bear in mind your money is safe at a federally insured financial institution. When a financial institution is federally insured, up to $250,000 per depositor is secure in a bank account.

    Compare Today’s Banking Offers

    Compare Online Checking Accounts


    Best for minimal bank fees and lenient opening requirements

    Capital One Capital One 360 Checking®

    Capital One 360 Checking®
    4.5/5

    A five pointed star

    A five pointed star

    A five pointed star

    A five pointed star

    A five pointed star



    Annual Percentage Yield (APY)
    0.10%


    Minimum Deposit Amount
    $0


    Fees
    no monthly service fee

    Start banking

    Capital One, Member FDIC

    View Full Details

    Capital One Capital One 360 Checking®


    Best for minimal bank fees and lenient opening requirements

    Capital One 360 Checking®
    4.5/5

    A five pointed star

    A five pointed star

    A five pointed star

    A five pointed star

    A five pointed star



    Annual Percentage Yield (APY)
    0.10%


    Minimum Deposit Amount
    $0


    Fees
    no monthly service fee

    View Full Details

    Start banking

    Capital One, Member FDIC

    Capital One 360 Checking®

    Capital One Capital One 360 Checking®

    Start banking

    Capital One, Member FDIC


    Best for minimal bank fees and lenient opening requirements

    Details


    Fees
    no monthly service fee


    Annual Percentage Yield (APY)
    0.10%


    Minimum Deposit Amount
    $0
    Editor’s Rating

    4.5/5

    A five pointed star

    A five pointed star

    A five pointed star

    A five pointed star

    A five pointed star

    4.5 out of
    5 Stars

    Pros & Cons
    Chevron icon It indicates an expandable section or menu, or sometimes previous / next navigation options.

    Pros

    Check mark icon A check mark. It indicates a confirmation of your intended interaction.

    0.10% APY on all account balances

    Check mark icon A check mark. It indicates a confirmation of your intended interaction.

    No opening deposit or minimum account balance

    Check mark icon A check mark. It indicates a confirmation of your intended interaction.

    No monthly service fee

    Check mark icon A check mark. It indicates a confirmation of your intended interaction.

    No foreign transaction fee

    Check mark icon A check mark. It indicates a confirmation of your intended interaction.

    Range of overdraft protection options

    Check mark icon A check mark. It indicates a confirmation of your intended interaction.

    Processes direct deposits up to 2 days early

    Cons
    Dash icon A dash. It often indicates an interaction to shrink a section.

    $2 out-of-network ATM fee

    Dash icon A dash. It often indicates an interaction to shrink a section.

    Doesn’t reimburse out-of-network ATM fees

    Dash icon A dash. It often indicates an interaction to shrink a section.

    Limited access to customer service by phone

    Highlights
    Chevron icon It indicates an expandable section or menu, or sometimes previous / next navigation options.

    More Information
    • Over 70,000 free ATMs nationwide
    • Branches in NY, LA, TX, MD, VA, NJ, and Washington, DC
    • Interest compounded daily, paid monthly
    • FDIC insured
    Additional Reading
    Chevron icon It indicates an expandable section or menu, or sometimes previous / next navigation options.

      Read our review
      Read Our Review A looong arrow, pointing right


      Best for easy deposits

      Chime Chime Checking Account

      Chime Checking Account
      4.25/5

      A five pointed star

      A five pointed star

      A five pointed star

      A five pointed star

      A five pointed star



      Annual Percentage Yield (APY)
      None


      Minimum Deposit Amount
      $0

      Start banking
      Chime, FDIC Insured Account

      View Full Details

      Chime Chime Checking Account


      Best for easy deposits

      Chime Checking Account
      4.25/5

      A five pointed star

      A five pointed star

      A five pointed star

      A five pointed star

      A five pointed star



      Annual Percentage Yield (APY)
      None


      Minimum Deposit Amount
      $0

      View Full Details

      Start banking
      Chime, FDIC Insured Account

      Chime Checking Account

      Chime Chime Checking Account


      Start banking
      Chime, FDIC Insured Account


      Best for easy deposits

      Details


      Annual Percentage Yield (APY)
      None


      Minimum Deposit Amount
      $0
      Editor’s Rating

      4.25/5

      A five pointed star

      A five pointed star

      A five pointed star

      A five pointed star

      A five pointed star

      4.25 out of
      5 Stars

      Pros & Cons
      Chevron icon It indicates an expandable section or menu, or sometimes previous / next navigation options.

      Pros

      Check mark icon A check mark. It indicates a confirmation of your intended interaction.

      No minimum opening deposit

      Check mark icon A check mark. It indicates a confirmation of your intended interaction.

      No monthly service fees

      Check mark icon A check mark. It indicates a confirmation of your intended interaction.

      Receive your paycheck up to 2 days early

      Check mark icon A check mark. It indicates a confirmation of your intended interaction.

      Rounds debit card purchases up to the nearest dollar and puts spare change in your Chime Savings Account

      Check mark icon A check mark. It indicates a confirmation of your intended interaction.

      No overdraft fees for overdrafts up to $200 with SpotMe, if you qualify

      Check mark icon A check mark. It indicates a confirmation of your intended interaction.

      No foreign transaction fees

      Check mark icon A check mark. It indicates a confirmation of your intended interaction.

      Request checks be sent to recipients online

      Check mark icon A check mark. It indicates a confirmation of your intended interaction.

      Can deposit cash at select retailers

      Cons
      Dash icon A dash. It often indicates an interaction to shrink a section.

      $2.50 out-of-network ATM fee

      Dash icon A dash. It often indicates an interaction to shrink a section.

      No overdraft protection for overdrafts exceeding $200

      Dash icon A dash. It often indicates an interaction to shrink a section.

      No physical checkbook

      Highlights
      Chevron icon It indicates an expandable section or menu, or sometimes previous / next navigation options.

      More Information
      • 38,000+ free ATMs nationwide through MoneyPass® and Visa® Plus Alliance
      • Free cash deposits at Walgreens; May deposit cash at other select retail locations but you may be charged a fee
      • Rounds debit card purchases up to the nearest dollar and moves spare change into your Chime Savings Account
      • Qualify for SpotMe overdraft protection by receiving $200 in direct deposits per month
      • Chime is a financial technology company, not a bank. Banking services provided by, and debit card issued by, The Bancorp Bank or Stride Bank, N.A.; Members FDIC.
      Additional Reading
      Chevron icon It indicates an expandable section or menu, or sometimes previous / next navigation options.

        Read our review
        Read Our Review A looong arrow, pointing right


        BEST FOR A HIGH INTEREST RATE

        Redneck Bank Redneck Bank Rewards Checkin' Account

        Redneck Bank Rewards Checkin’ Account
        3.75/5

        A five pointed star

        A five pointed star

        A five pointed star

        A five pointed star

        A five pointed star



        Annual Percentage Yield (APY)
        0.25% to 5.30%


        Minimum Deposit Amount
        $500


        Fees
        no monthly service fee

        Start banking

        On Redneck Bank’s site. Redneck Bank, FDIC Insured

        View Full Details

        Redneck Bank Redneck Bank Rewards Checkin' Account


        BEST FOR A HIGH INTEREST RATE

        Redneck Bank Rewards Checkin’ Account
        3.75/5

        A five pointed star

        A five pointed star

        A five pointed star

        A five pointed star

        A five pointed star



        Annual Percentage Yield (APY)
        0.25% to 5.30%


        Minimum Deposit Amount
        $500


        Fees
        no monthly service fee

        View Full Details

        Start banking

        On Redneck Bank’s site. Redneck Bank, FDIC Insured

        Redneck Bank Rewards Checkin’ Account

        Redneck Bank Redneck Bank Rewards Checkin' Account

        Start banking

        On Redneck Bank’s site. Redneck Bank, FDIC Insured


        BEST FOR A HIGH INTEREST RATE

        Details


        Fees
        no monthly service fee


        Annual Percentage Yield (APY)
        0.25% to 5.30%


        Minimum Deposit Amount
        $500
        Editor’s Rating

        3.75/5

        A five pointed star

        A five pointed star

        A five pointed star

        A five pointed star

        A five pointed star

        3.75 out of
        5 Stars

        Pros & Cons
        Chevron icon It indicates an expandable section or menu, or sometimes previous / next navigation options.

        Pros

        Check mark icon A check mark. It indicates a confirmation of your intended interaction.

        High bonus interest rate on account balances up to $15,000

        Check mark icon A check mark. It indicates a confirmation of your intended interaction.

        Up to $25 per month in ATM fee refunds if you qualify for the bonus rate

        Check mark icon A check mark. It indicates a confirmation of your intended interaction.

        No monthly service fees

        Check mark icon A check mark. It indicates a confirmation of your intended interaction.

        Overdraft protection available

        Cons
        Dash icon A dash. It often indicates an interaction to shrink a section.

        $500 minimum opening deposit

        Dash icon A dash. It often indicates an interaction to shrink a section.

        $25 overdraft fee

        Highlights
        Chevron icon It indicates an expandable section or menu, or sometimes previous / next navigation options.

        More Information
        • Bonus interest rate of 5.30% APY on account balances up to $15,000 and 0.50% APY for amounts over $15,000
        • Standard interest rate of 0.25% APY
        • To earn the bonus interest rate, make 10 qualifying debit card transactions per monthly statement cycle and receive online bank statements
        • If you qualify for the bonus interest rate, you may also be eligible for up to $25 in ATM fee refunds per month
        • Limite of two Redneck Rewards account per person
        • Member FDIC


        Best checking/savings combo

        SoFi SoFi Checking and Savings

        SoFi Checking and Savings
        4.25/5

        A five pointed star

        A five pointed star

        A five pointed star

        A five pointed star

        A five pointed star



        Annual Percentage Yield (APY)

        A tooltip

        SoFi members with direct deposit can earn up to 4.20% annual percentage yield (APY) on savings balances (including Vaults) and 1.20% APY on checking balances. There is no minimum direct deposit amount required to qualify for the 4.20% APY for savings. Members without direct deposit will earn 1.20% APY on all account balances in checking and savings (including Vaults). Interest rates are variable and subject to change at any time. These rates are current as of 04/24/2023. Additional information can be found at http://www.sofi.com/legal/banking-rate-sheet

        up to 4.20% with direct deposit


        Minimum Deposit Amount
        $0


        Fees
        $0 monthly service fees

        Start saving
        SoFi Bank, Member FDIC

        View Full Details

        SoFi SoFi Checking and Savings


        Best checking/savings combo

        SoFi Checking and Savings
        4.25/5

        A five pointed star

        A five pointed star

        A five pointed star

        A five pointed star

        A five pointed star



        Annual Percentage Yield (APY)

        A tooltip

        SoFi members with direct deposit can earn up to 4.20% annual percentage yield (APY) on savings balances (including Vaults) and 1.20% APY on checking balances. There is no minimum direct deposit amount required to qualify for the 4.20% APY for savings. Members without direct deposit will earn 1.20% APY on all account balances in checking and savings (including Vaults). Interest rates are variable and subject to change at any time. These rates are current as of 04/24/2023. Additional information can be found at http://www.sofi.com/legal/banking-rate-sheet

        up to 4.20% with direct deposit


        Minimum Deposit Amount
        $0


        Fees
        $0 monthly service fees

        View Full Details

        Start saving
        SoFi Bank, Member FDIC

        SoFi Checking and Savings

        SoFi SoFi Checking and Savings


        Start saving
        SoFi Bank, Member FDIC


        Best checking/savings combo

        Details


        Fees
        $0 monthly service fees


        Annual Percentage Yield (APY)
        up to 4.20% with direct deposit
        SoFi members with direct deposit can earn up to 4.20% annual percentage yield (APY) on savings balances (including Vaults) and 1.20% APY on checking balances. There is no minimum direct deposit amount required to qualify for the 4.20% APY for savings. Members without direct deposit will earn 1.20% APY on all account balances in checking and savings (including Vaults). Interest rates are variable and subject to change at any time. These rates are current as of 04/24/2023. Additional information can be found at http://www.sofi.com/legal/banking-rate-sheet
        Show more


        Minimum Deposit Amount
        $0
        Editor’s Rating

        4.25/5

        A five pointed star

        A five pointed star

        A five pointed star

        A five pointed star

        A five pointed star

        4.25 out of
        5 Stars

        Pros & Cons
        Chevron icon It indicates an expandable section or menu, or sometimes previous / next navigation options.

        Pros

        Check mark icon A check mark. It indicates a confirmation of your intended interaction.

        FDIC insured for $2 million

        Check mark icon A check mark. It indicates a confirmation of your intended interaction.

        High interest rate

        Check mark icon A check mark. It indicates a confirmation of your intended interaction.

        Earn a higher interest rate if you set up direct deposit

        Check mark icon A check mark. It indicates a confirmation of your intended interaction.

        No minimum opening deposit

        Check mark icon A check mark. It indicates a confirmation of your intended interaction.

        No monthly service fees

        Check mark icon A check mark. It indicates a confirmation of your intended interaction.

        No overdraft fees

        Check mark icon A check mark. It indicates a confirmation of your intended interaction.

        Up to $250 bonus with qualifying direct deposit (terms apply)

        Check mark icon A check mark. It indicates a confirmation of your intended interaction.

        Earn up to 15% cash back at local retailers if you use a SoFi debit card

        Check mark icon A check mark. It indicates a confirmation of your intended interaction.

        No-fee overdraft coverage if you overdraw up to $50

        Check mark icon A check mark. It indicates a confirmation of your intended interaction.

        Savings tools

        Check mark icon A check mark. It indicates a confirmation of your intended interaction.

        Early direct deposit

        Check mark icon A check mark. It indicates a confirmation of your intended interaction.

        Joint account available

        Cons
        Dash icon A dash. It often indicates an interaction to shrink a section.

        Declined purchase if you overdraw by more than $50

        Dash icon A dash. It often indicates an interaction to shrink a section.

        Doesn’t reimburse out-of-network ATM providers’ fees

        Dash icon A dash. It often indicates an interaction to shrink a section.

        May deposit cash at Green Dot locations but there’s a $4.95 fee

        Highlights
        Chevron icon It indicates an expandable section or menu, or sometimes previous / next navigation options.

        More Information
        • FDIC insured for $2 million
        • Free access to 50,000+ Allpoint ATMs worldwide
        • Hybrid checking/savings account
        • Earn up to 15% cash back on local retailers when you use a SoFi debit card; Retailer information is available through online banking
        • Earn 4.20% APY on savings balances (Vaults included) and 1.20% APY on checking balances if you set up direct deposit
        • Earn 1.20% APY on SoFi Checking and Savings if you don’t set up direct deposit
        • Earn up to $250 cash bonus available through December 31, 2023; receive a $50 bonus if you make a direct deposit between $1,000 and $4,999 in the first 30 days of opening an account; receive a $250 bonus if you make a direct deposit of $5,000 or more in the first 30 days of opening an account
        • Create up to 20 Money Vaults to save for individual savings goals like an emergency fund or vacation
        • $4.95 fee each time you deposit cash at a Green Dot location
        • To get no-fee overdraft coverage you must have at least $1,000 in direct deposits
        Additional Reading
        Chevron icon It indicates an expandable section or menu, or sometimes previous / next navigation options.

          Read our review
          Read Our Review A looong arrow, pointing right


          BEST FOR CASH-BACK REWARDS

          Upgrade Upgrade Rewards Checking

          Upgrade Rewards Checking
          4.25/5

          A five pointed star

          A five pointed star

          A five pointed star

          A five pointed star

          A five pointed star



          Annual Percentage Yield (APY)
          None


          Minimum Deposit Amount
          $0


          Fees
          no monthly service fee

          Start banking

          On Upgrade’s website. Upgrade checking accounts provided by Cross River Bank, FDIC Insured

          View Full Details

          Upgrade Upgrade Rewards Checking


          BEST FOR CASH-BACK REWARDS

          Upgrade Rewards Checking
          4.25/5

          A five pointed star

          A five pointed star

          A five pointed star

          A five pointed star

          A five pointed star



          Annual Percentage Yield (APY)
          None


          Minimum Deposit Amount
          $0


          Fees
          no monthly service fee

          View Full Details

          Start banking

          On Upgrade’s website. Upgrade checking accounts provided by Cross River Bank, FDIC Insured

          Upgrade Rewards Checking

          Upgrade Upgrade Rewards Checking

          Start banking

          On Upgrade’s website. Upgrade checking accounts provided by Cross River Bank, FDIC Insured


          BEST FOR CASH-BACK REWARDS

          Details


          Fees
          no monthly service fee


          Annual Percentage Yield (APY)
          None


          Minimum Deposit Amount
          $0
          Editor’s Rating

          4.25/5

          A five pointed star

          A five pointed star

          A five pointed star

          A five pointed star

          A five pointed star

          4.25 out of
          5 Stars

          Pros & Cons
          Chevron icon It indicates an expandable section or menu, or sometimes previous / next navigation options.

          Pros

          Check mark icon A check mark. It indicates a confirmation of your intended interaction.

          No minimum balance requirements

          Check mark icon A check mark. It indicates a confirmation of your intended interaction.

          No monthly service fees

          Check mark icon A check mark. It indicates a confirmation of your intended interaction.

          No overdraft fees

          Check mark icon A check mark. It indicates a confirmation of your intended interaction.

          No transfer fees

          Check mark icon A check mark. It indicates a confirmation of your intended interaction.

          No ATM fees

          Check mark icon A check mark. It indicates a confirmation of your intended interaction.

          Can earn 2% cashback on everyday expenses (up to $500 per year) and 1% on any other debit card charges

          Check mark icon A check mark. It indicates a confirmation of your intended interaction.

          Reimburses some ATM fees charged by other financial institutions (up to 5 withdrawal per month)

          Cons
          Dash icon A dash. It often indicates an interaction to shrink a section.

          Need to meet certain requirements each month to be eligible for ATM fee reimbursements

          Dash icon A dash. It often indicates an interaction to shrink a section.

          No overdraft protection

          Highlights
          Chevron icon It indicates an expandable section or menu, or sometimes previous / next navigation options.

          More Information
          • To maintain an activity qualifying Rewards Checking Account and obtain rewards like ATM fee reimbursements and loan discounts, you must meet one of the following requirements: 1) have an average daily balance of $2,500 or more, 2) receive direct deposits totaling $1,000 or more each month, or 3) make at least 8 debit card purchases
          Additional Reading
          Chevron icon It indicates an expandable section or menu, or sometimes previous / next navigation options.

            Read our review
            Read Our Review A looong arrow, pointing right


            Best for ATM access

            Axos Axos Bank Rewards Checking

            Axos Bank Rewards Checking
            4.25/5

            A five pointed star

            A five pointed star

            A five pointed star

            A five pointed star

            A five pointed star



            Annual Percentage Yield (APY)
            up to 3.30%


            Minimum Deposit Amount
            $50


            Fees
            no monthly service fee

            Start banking
            Axos Bank, Member FDIC

            View Full Details

            Axos Axos Bank Rewards Checking


            Best for ATM access

            Axos Bank Rewards Checking
            4.25/5

            A five pointed star

            A five pointed star

            A five pointed star

            A five pointed star

            A five pointed star



            Annual Percentage Yield (APY)
            up to 3.30%


            Minimum Deposit Amount
            $50


            Fees
            no monthly service fee

            View Full Details

            Start banking
            Axos Bank, Member FDIC

            Axos Bank Rewards Checking

            Axos Axos Bank Rewards Checking


            Start banking
            Axos Bank, Member FDIC


            Best for ATM access

            Details


            Fees
            no monthly service fee


            Annual Percentage Yield (APY)
            up to 3.30%


            Minimum Deposit Amount
            $50
            Editor’s Rating

            4.25/5

            A five pointed star

            A five pointed star

            A five pointed star

            A five pointed star

            A five pointed star

            4.25 out of
            5 Stars

            Pros & Cons
            Chevron icon It indicates an expandable section or menu, or sometimes previous / next navigation options.

            Pros

            Check mark icon A check mark. It indicates a confirmation of your intended interaction.

            High APY

            Check mark icon A check mark. It indicates a confirmation of your intended interaction.

            Unlimited out-of-network ATM reimbursements

            Check mark icon A check mark. It indicates a confirmation of your intended interaction.

            No monthly maintenance fees

            Check mark icon A check mark. It indicates a confirmation of your intended interaction.

            No overdraft fees

            Check mark icon A check mark. It indicates a confirmation of your intended interaction.

            No non-sufficient funds fees

            Cons
            Dash icon A dash. It often indicates an interaction to shrink a section.

            $50 opening deposit

            Dash icon A dash. It often indicates an interaction to shrink a section.

            No APY if you can’t meet qualifications

            Dash icon A dash. It often indicates an interaction to shrink a section.

            Few mobile app reviews

            Highlights
            Chevron icon It indicates an expandable section or menu, or sometimes previous / next navigation options.

            More Information
            • Use the promo code RC100 when you apply for a Rewards Checking account by 06/30/23. Then have qualifying direct deposit(s) to earn up a $100 welcome bonus!
            • Zero monthly maintenance fees
            • Zero overdraft or NSF fees
            • Zero minimum monthly balance reqs
            • Unlimited domestic ATM fee reimbursements
            • Online debit card management
            • Simple, 3-step process for direct deposit
            • Only $50 to open an account
            Additional Reading
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              Read our review
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              Best for strong customer service

              Charles Schwab Bank Schwab Bank High Yield Investor Checking® Account

              Schwab Bank High Yield Investor Checking® Account
              4.5/5

              A five pointed star

              A five pointed star

              A five pointed star

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              Annual Percentage Yield (APY)
              0.45%


              Minimum Deposit Amount
              $0

              Start banking

              Charles Schwab, FDIC Insured

              View Full Details

              Charles Schwab Bank Schwab Bank High Yield Investor Checking® Account


              Best for strong customer service

              Schwab Bank High Yield Investor Checking® Account
              4.5/5

              A five pointed star

              A five pointed star

              A five pointed star

              A five pointed star

              A five pointed star



              Annual Percentage Yield (APY)
              0.45%


              Minimum Deposit Amount
              $0

              View Full Details

              Start banking

              Charles Schwab, FDIC Insured

              Schwab Bank High Yield Investor Checking® Account

              Charles Schwab Bank Schwab Bank High Yield Investor Checking® Account

              Start banking

              Charles Schwab, FDIC Insured


              Best for strong customer service

              Details


              Annual Percentage Yield (APY)
              0.45%


              Minimum Deposit Amount
              $0
              Editor’s Rating

              4.5/5

              A five pointed star

              A five pointed star

              A five pointed star

              A five pointed star

              A five pointed star

              4.5 out of
              5 Stars

              Pros & Cons
              Chevron icon It indicates an expandable section or menu, or sometimes previous / next navigation options.

              Pros

              Check mark icon A check mark. It indicates a confirmation of your intended interaction.

              No opening deposit

              Check mark icon A check mark. It indicates a confirmation of your intended interaction.

              No minimum account balance

              Check mark icon A check mark. It indicates a confirmation of your intended interaction.

              Unlimited out-of-network ATM reimbursements

              Check mark icon A check mark. It indicates a confirmation of your intended interaction.

              No foreign transaction fees

              Check mark icon A check mark. It indicates a confirmation of your intended interaction.

              Free overdraft protection

              Cons
              Dash icon A dash. It often indicates an interaction to shrink a section.

              Must also open a Schwab One brokerage account

              Dash icon A dash. It often indicates an interaction to shrink a section.

              $25 overdraft fee if you don’t enroll in protection

              Highlights
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              More Information
              • 24/7 live online chat
              • No ATM network, but unlimited ATM fee reimbursements
              • Interest compounded daily, paid monthly
              • FDIC insured
              Additional Reading
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                Read our review
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                Best cash management account

                Wealthfront Wealthfront Cash Account

                Wealthfront Cash Account
                4.25/5

                A five pointed star

                A five pointed star

                A five pointed star

                A five pointed star

                A five pointed star



                Annual Percentage Yield (APY)
                4.55%


                Minimum Deposit Amount
                $1


                Fees
                $0 monthly service fees

                Start banking
                Wealthfront, FDIC Insured Account

                View Full Details

                Wealthfront Wealthfront Cash Account


                Best cash management account

                Wealthfront Cash Account
                4.25/5

                A five pointed star

                A five pointed star

                A five pointed star

                A five pointed star

                A five pointed star



                Annual Percentage Yield (APY)
                4.55%


                Minimum Deposit Amount
                $1


                Fees
                $0 monthly service fees

                View Full Details

                Start banking
                Wealthfront, FDIC Insured Account

                Wealthfront Cash Account

                Wealthfront Wealthfront Cash Account


                Start banking
                Wealthfront, FDIC Insured Account


                Best cash management account

                Details


                Fees
                $0 monthly service fees


                Annual Percentage Yield (APY)
                4.55%


                Minimum Deposit Amount
                $1
                Editor’s Rating

                4.25/5

                A five pointed star

                A five pointed star

                A five pointed star

                A five pointed star

                A five pointed star

                4.25 out of
                5 Stars

                Pros & Cons
                Chevron icon It indicates an expandable section or menu, or sometimes previous / next navigation options.

                Pros

                Check mark icon A check mark. It indicates a confirmation of your intended interaction.

                Use as both a savings and checking account

                Check mark icon A check mark. It indicates a confirmation of your intended interaction.

                $1 opening deposit

                Check mark icon A check mark. It indicates a confirmation of your intended interaction.

                No monthly service fees

                Check mark icon A check mark. It indicates a confirmation of your intended interaction.

                FDIC insured up to $5 million for individual Cash Accounts ($10M for joint accounts) through partner banks

                Check mark icon A check mark. It indicates a confirmation of your intended interaction.

                Get paid 2 days early

                Check mark icon A check mark. It indicates a confirmation of your intended interaction.

                Access to a debit card

                Check mark icon A check mark. It indicates a confirmation of your intended interaction.

                Mobile check deposit

                Check mark icon A check mark. It indicates a confirmation of your intended interaction.

                Automatically move extra money into investments with Autopilot

                Check mark icon A check mark. It indicates a confirmation of your intended interaction.

                Save for separate goals in one account

                Cons
                Dash icon A dash. It often indicates an interaction to shrink a section.

                No physical branch locations

                Dash icon A dash. It often indicates an interaction to shrink a section.

                To deposit cash, pay a fee at a Green Dot location

                Dash icon A dash. It often indicates an interaction to shrink a section.

                $2.50 out-of-network ATM fee

                Highlights
                Chevron icon It indicates an expandable section or menu, or sometimes previous / next navigation options.

                More Information
                • FDIC insured up to $5 million for individual Cash Accounts ($10M for joint accounts) through partner banks
                • 19,000 free ATMs
                • Autopilot feature lets you set maximum account balance, and automatically transfers money into investments if you exceed maximum balance by more than $100
                • Interest compounded daily, paid monthly
                Additional Reading
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                  Read our review
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                  Our Expert Panel for the Best Online Checking Accounts

                  We consulted banking and financial planning experts to inform these picks and provide their advice on finding the best checking accounts for your needs. 

                  PFI Banking Expert Panel that includes: Tania Brown, Roger Ma, Sophia Acevedo, and Mykail James

                  Insider



                  We’re focusing on checking accounts with no monthly maintenance fees, but we’re also taking fees for foreign transactions, out-of-network ATMs, and more into consideration.

                  Here’s what they had to say about checking accounts. (Some text may be lightly edited for clarity.)

                  What makes a checking account good or not good?

                  Roger Ma, certified financial planner with lifelaidout® and author of “Work Your Money, Not Your Life”:

                  “I would look at the ATM branch locations and then minimum balance amounts to not incur a monthly fee. I think there’s other stuff that could make life easier, whether it’s free checks, online bill pay, are they in the Zelle network?”

                  Sophia Acevedo, certified educator in personal finance, banking reporter, Personal Finance Insider:

                  “I would look for a checking account that either doesn’t have any monthly services fees or offers multiple ways to waive the fee. I would also look at customer support availability and mobile app ratings.”

                  How can someone determine whether a bank is the right fit for them?

                  Tania Brown, certified financial planner at SaverLife:

                  “Obviously, you want to make sure it’s FDIC insured. Also, your banking experience — do you like walking into a bank? Well, then you need someone local. Do you just not care if you ever see your bank? Then you’re okay online. Do you write checks? Do you not write checks? So it’s thinking through how your experience with it is going to be before you make that decision.”

                  Mykail James, MBA, certified financial education instructor, BoujieBudgets.com:

                  “The No. 1 thing about a checking account is you should know what provider the debit card is coming from. And a lot of people don’t think about that, because there are places that don’t accept MasterCard or don’t accept an Amex.”

                  Methodology

                  To find the best online checking accounts, we considered two dozen online financial institutions.

                  We narrowed down our top picks by reviewing features and perks. We looked at how financial institutions charge common bank fees — for example, monthly service fees, out-of-network ATM fees, overdraft fees, or foreign transaction fees. If a financial institution offered a unique perk, like a high interest rate or a cash bonus, we evaluated the criteria needed to get the reward. 

                  To learn more about how we rate and review products, see our editorial standards page.

                  See our full ratings methodology for checking, business checking, savings, and money market accounts »

                  Best Online Checking Accounts FAQs


                  How does an online-only checking account work?


                  Chevron icon It indicates an expandable section or menu, or sometimes previous / next navigation options.

                  If you open a checking account at an online bank, you’ll primarily manage your account through online and mobile banking.


                  How do you open a checking account online? 


                  Chevron icon It indicates an expandable section or menu, or sometimes previous / next navigation options.

                  You’ll submit an application through the online bank’s website. When you’re filling out your application, you may need a government-issued ID, your Social Security number, and proof of address. Generally, you’ll receive a confirmation email once the information has been verified and your application is approved.


                  Can you open a free online checking account?


                  Chevron icon It indicates an expandable section or menu, or sometimes previous / next navigation options.

                  Yes. Many online banks have checking accounts with zero monthly maintenance fees. Capital One 360, Chime, Consumers Credit Union, SoFi, Quontic Bank, Axos Bank, and Charles Schwab are a few examples of financial institutions with free checking accounts. 

                  Best online checking accounts
                  • Capital One 360 Checking®
                  • Chime Checking Account
                  • Redneck Bank Rewards Checkin’ Account
                  • SoFi Checking and Savings
                  • Upgrade Rewards Checking
                  • Axos Bank Rewards Checking
                  • Schwab Bank High Yield Investor Checking® Account
                  • Wealthfront Cash Account
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                  Category


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                  Best for minimal bank fees and lenient opening requirements


                  Category


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                  Best for easy deposits


                  Category


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                  Best for a high interest rate


                  Category


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                  Best checking/savings combo


                  Category


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                  Best for cash-back rewards


                  Category


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                  Best for ATM access


                  Category


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                  Best for customer service


                  Category


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                  Best cash management account

                  Start banking


                  Capital One, Member FDIC

                  Start banking


                  Chime, FDIC Insured Account

                  Start banking


                  On Redneck Bank’s site. Redneck Bank, FDIC Insured

                  Start saving


                  SoFi Bank, Member FDIC

                  Start banking


                  On Upgrade’s website. Upgrade checking accounts provided by Cross River Bank, FDIC Insured

                  Start banking


                  Axos Bank, Member FDIC

                  Start banking


                  Charles Schwab, FDIC Insured

                  Start banking


                  Wealthfront, FDIC Insured Account

                  Best for Minimal Bank Fees and Lenient Opening Requirements

                  Capital One 360 Checking®

                  Why it stands out: Capital One 360 is a strong online bank with a well-rounded checking account.

                  Capital One 360 Checking® has a $0 minimum opening deposit, no monthly service fees, no foreign transaction fees, and a variety of overdraft protection options.

                  You’ll be able to receive your paycheck up to two days early with the early paycheck feature and you’ll have access to over 70,000 fee-free ATMs. Last but not least, Capital One 360 has several ways of depositing cash into your account. 

                  What to look out for: Capital One 360 charges a $2 out-of-network ATM fee. You also won’t be refunded if an outside ATM provider charges you a fee. 

                  Capital One Bank Review

                  Best for Easy Deposits

                  Chime Checking Account

                  Why it stands out: You may like the Chime Checking Account if you want an online account that offers easy ways to deposit money into your account.

                  You can receive your paycheck up to two days early with direct deposit or use the mobile app to deposit checks.

                  Chime lets you deposit cash at 8,500 Walgreens locations without paying a fee. You may also make cash deposits at Green Dot locations but there may be a fee.

                  What to look out for: Chime’s SpotMe feature lets you overdraw by up to $200 with no overdraft fee, but you’ll need to meet certain requirements to be eligible for this feature (receive $200 in direct deposits each month to qualify for SpotMe). Also, keep in mind your transaction will be denied if you need to overdraw by more than the limit. 

                  Chime Bank Review

                  Best for a High Interest Rate

                  Redneck Bank Rewards Checkin’ Account

                  Why it stands out: Redneck Bank pays a high bonus interest rate of 5.30% APY on account balances up to $15,000, and 0.50% APY on amounts over $15,000. To qualify for the bonus rate, you’ll have to make 10 qualifying debit card transactions per monthly statement cycle and receive online bank statements.

                  What to look out for: If you do not meet the monthly requirements, you’ll earn a standard rate of 0.25% APY. Redneck Bank also requires a steep minimum opening deposit of $500 to open the Redneck Bank Rewards Checking Account. You might prefer another financial institution if you’d like to open an account with less money upfront.

                  Redneck Bank Rewards Checking Account

                  Best Checking/Savings Combo

                  SoFi Checking and Savings

                  Why it stands out: If you would like to keep your savings and checking in one account, SoFi Checking and Savings is a solid all-in-one bank account. This account comes with a debit card and offers early direct deposit, like many checking accounts. It also has a savings tool called Money Vaults, which helps you save for individual goals. 

                  This account is offering a cash bonus of up to $250 if you’re a new SoFi Checking and Savings customer or an existing SoFi Checking and Savings customer who hasn’t set up direct deposits, yet.

                  To get the reward, you have to meet the following requirements:

                  • Open SoFi Checking and Savings by December 31, 2023.
                  • To earn a $50 cash bonus, you must receive between $1,000 and $4,999.99 in qualifying direct deposits during the first 30 days of opening an account.
                  • To earn a $250 cash bonus, you must receive over $5,000 in qualifying direct deposits during the first 30 days of opening an account.

                  What to look out for: The account works best if you set up a direct deposit. That way, you’ll qualify to earn up to 4.20% with direct deposit APY on savings balances (Vaults included) and 1.20% APY on checking balances. 

                  If you don’t set up a direct deposit, you’ll only earn 1.20% APY on both balances. 

                  SoFi Checking and Savings Review

                  Best for Cash-back Rewards

                  Upgrade Rewards Checking

                  Why it stands out: Upgrade Rewards Checking offers 2% cash back on everyday debit card purchases and payments on utilities and monthly subscriptions, and 1% cash back on all other debit card purchases. Upgrade describes an everyday purchase as an online or in-person purchase at a convenience store, drugstore, restaurant, bar, or gas station.

                  The 2% cash back perk has a limit of $500 per year. Once you reach the annual limit, you’ll get 1% cash back on all eligible purchases for the rest of the year.

                  What to look out for: To get the most out of the Upgrade Rewards Checking Account, like ATM fee reimbursements and loan discounts, you’ll have to maintain a $2,500 daily checking account balance, receive at least $1,000 in direct deposits each month, or make eight or more monthly debit card purchases. Otherwise, you won’t qualify for these perks.

                  Money transfers, ATM transactions, check purchases, gift cards, foreign currency, money orders, refunds, or fraudulent transactions aren’t eligible for any cash back rewards.

                  Upgrade Checking and Savings Review

                  Best for ATM Access

                  Axos Bank Rewards Checking

                  Why it stands out: Axos Bank has access to a robust ATM network. You’ll be able to make free withdrawals at approximately 91,000 ATMs across the US.

                  If you have Axos Bank Rewards Checking, you’ll also get unlimited domestic ATM fee reimbursements. Some of the other banks on our list won’t reimburse you for these fees, and also might charge you an additional fee for using another ATM provider. 

                  What to look out for: You can earn up to 3.30% APY with Axos Bank Rewards Checking, but you’ll need to meet certain requirements.

                  Here are the requirements for earning interest: 

                  • Earn 0.40% APY if you receive at least $1,500 in direct deposits in a month. You have to meet this requirement to be able to earn any additional interest.
                  • Earn an additional 0.30% APY if you make 10 debit card transactions in a month (minimum $3 per transaction) or you need to sign up for Account Aggregation/Personal Finance Manager.
                  • Earn an additional 1.00% APY if you keep at least a daily average of $2,500 in an Axos Managed Portfolios Invest Account monthly.
                  • Earn an additional 1.00% APY if you keep at least a daily average of $2,500 in an Axos Self Directed Trading Invest Account monthly.
                  • Earn an additional 0.60% APY if you make a monthly Axos consumer loan payment with your Reward Checking account.

                  If you accomplish all goals in a month, you earn the maximum available APY.

                  Axos Bank Review

                  Best for Strong Customer Service

                  Schwab Bank High Yield Investor Checking® Account

                  Why it stands out: Charles Schwab is primarily known for its investment services, but it also offers banking products like its Schwab Bank High Yield Investor Checking® Account.

                  Charles Schwab Bank is rated the highest in overall customer satisfaction among checking account providers, according to a 2022 JD Power Direct Banking Satisfaction Study.

                  This study evaluates customer experiences with online banks and neobanks by looking at overall customer service, bank trustworthiness, mobile banking, online banking, potential bank fees, how easy it is to move money, and how easy it is to grow money. 

                  Charles Schwab has 24/7 online chat with customer service representatives. You may also call a representative Monday through Friday, 7 a.m. to 11 p.m. ET, and weekends from 9a.m . to 10:30 p.m. ET. 

                  What to look out for: To open a Schwab Bank High Yield Investor Checking® Account, you must also have a Schwab brokerage account.

                  Charles Schwab Bank Review

                  Best Cash Management Account

                  Wealthfront Cash Account

                  Why it stands out: A cash management account is a type of account that’s offered by online-only institutions that aren’t technically banks, like investing platforms or fintech companies. A cash management account could be a good option if you already have an account with a specific brokerage or investment firm or if you’re looking for an account with a high interest rate. 

                  Wealthfront is an online-only investing platform, but it has a strong cash management called the Wealthfront Cash Account. You’ll earn 4.55% APY as long as you deposit $1.

                  What to look out for: Fintech companies partner with banks that provide FDIC insurance for cash management accounts. Wealthfront is partnered with multiple banks so it spreads your money across four banks — meaning it can insure up to $5 million in an individual bank account.

                  Wealthfront Cash Account Review

                  Other Online Checking Accounts That Didn’t Make the Cut and Why

                  • Quontic Cash Rewards Checking Account: Quontic lets you earn 1% cash back on eligible debit card purchases. You can get up to $50 in cash back rewards per month. It wasn’t our top pick because Upgrade’s cash-back perks stand out more. You can earn 2% cash back on everyday purchases (up to $500 in rewards per calendar year). Read Insider’s Quontic Bank Review.
                  • Consumers Credit Union Free Rewards Checking Account: Consumers Credit Union pays up to 5% APY on the first $10,000 in your account if you meet certain monthly requirements. However, Redneck Bank offers the possibility to earn a higher bonus interest rate for balances up to $15,000.
                  • Discover Cashback Debit Account
                    : Discover lets you earn 1% cash back on up to $3,000 in debit card purchases per month. However, our top pick Upgrade may be appealing when it comes to earning cash back on everyday purchases. Read Insider’s Discover Bank Review.
                  • LendingClub Rewards Checking Account: LendingClub might be a good option if you’re looking for a rewards checking account, but you’ll need at least $2,500 in your account to get the most out of the account. Read Insider’s LendingClub Review.
                  • Bank5 Connect High-Interest Checking Account: You’ll need to maintain at least $100 to earn interest on this checking account. You can also earn a better rate with Redneck Bank. Read Insider’s Bank5 Connect Review.
                  • FNBO Direct Online Checking Account: FNBO Direct offers a solid checking account, and it could be worthwhile if you want free stop payments or free incoming domestic wire transfers. The main downsides to the account are that it has mixed mobile app ratings and doesn’t have paper checks. Read Insider’s FNBO Direct Review.
                  • Dora Financial Everyday Checking Account: This checking might be appealing if your native language is Spanish or if you currently struggle to open an account due to your bank account history. Customer service is only available through email or the app, though. Read Insider’s Dora Financial Review.
                  • Amalgamated Bank Give-Back Checking Account: Amalgamated Bank could be a good choice if you’d like to bank with a mission-driven institution. Amalgamated Bank matches the equivalent of half the interest you earn on the account and lets you donate that amount to a charity partnered with the institution. It pays a lower interest rate than Redneck Bank, SoFi, Wealthfront, and Axos, though. Read Insider’s Amalgamated Bank Review.
                  • Daylight Account: Daylight lets you customize your debit card with your chosen name. You may also earn up to 10% cash back on debit card purchases at LGBTQ+ allied businesses. Daylight doesn’t offer joint bank accounts, and it has limited ways to deposit money into the account, though. Read Insider’s Daylight Review.
                  • Empower Personal Cash™: Empower has a solid cash management account with minimal fees, but Wealthfront currently offers a higher interest rate.
                  • Alliant High-Interest Checking Account: Alliant offers a solid checking account, but Axos, SoFi, Redneck Bank, and Wealthfront all pay higher interest rates. Read Insider’s Alliant Credit Union Review.
                  • Blue Extreme Checking Account: Blue Federal Credit Union lets you open an account by donating at least $5 to the Blue Foundation. The credit union has a solid high-yield checking account, but the rate isn’t as competitive as our top picks. Read Insider’s Blue Federal Credit Union Review.
                  • Connexus Xtraordinary Checking Account: This is a good high-yield checking account, but you can earn a better rate with Redneck Bank. Read Insider’s Connexus Credit Union Review.
                  • Bethpage Federal Credit Union Free Checking Account: Bethpage pays a decent interest rate on its high-yield checking account, but you can earn more with Redneck Bank. Read Insider’s Bethpage Credit Union Review.
                  • Ally Interest Checking Account: This is a solid online checking account that pays interest on your balance, but its features aren’t as unique as what you’ll find with some of our top picks. Read Insider’s Ally Bank Review.
                  • CIT Bank eChecking Account: The minimum opening deposit for this account is $100, and it only offers up to $15 of fee-free ATM visits a month. Our top picks offer more distinct perks. Read Insider’s CIT Bank Review.
                  • Betterment Checking Account: This online checking account reimburses ATM and foreign transaction fees, and there are no monthly service charges or overdraft penalties. However, Wealthfront is a better option for a higher interest rate. Read Insider’s Betterment Checking and Cash Reserve Review.
                  • TIAA Bank Basic Checking Account: To get unlimited ATM reimbursement you need to keep an average daily balance of at least $5,000. You also need at least $100 to open the account. Read Insider’s TIAA Bank Review.

                  Which Banks Are the Most Trustworthy?

                  The Better Business Bureau assigns companies grades, ranging from F to A+. A good BBB grade indicates a company responds effectively to customer complaints, advertises honestly, and is transparent about business practices. The only institution on our list that hasn’t received a BBB rating yet is Redneck Bank.

                  Here are the BBB grades for our top picks:

                  Financial institutionBBB rating
                  Capital One 360A-
                  ChimeF
                  Consumers Credit UnionA+
                  SoFiA+
                  UpgradeA+ (C- rating from partner bank)
                  AxosA+
                  Charles SchwabA+
                  WealthfrontF

                  The BBB gave Capital One 360 an A- rating because it has received a high volume of customer complaints on the BBB website. Wealthfront and Chime have received F ratings because it has seven customer complaints on the BBB website and have failed to respond to complaints filed against the business. 

                  Upgrade received an A+ rating from the BBB. Its partner bank, Cross River Bank, received a C- rating because it has received a high volume of customer complaints on the BBB website, and it has seven unresolved complaints. 

                  A strong BBB grade doesn’t guarantee you’ll have a smooth relationship with a company, though. We’ve also looked at any public scandals.

                  Capital One and Chime have been involved in recent public controversies.

                  Capital One paid $80 million after the Office of the Comptroller of the Currency stated that the bank was partially responsible for a 2019 data breach in which a hacker accessed over 100 million credit card applications. The OCC said Capital One’s security was inefficient at the time.

                  Chime used the URL “Chimebank.com” and the words “bank” and “banking,” but Chime isn’t licensed as a bank. Chime is a banking platform, and is insured by a bank. In 2021, the Commissioner of Financial Protection and Innovation ordered Chime to stop using the terms “Chimebank.com,” “bank,” and “banking” on its webpage and advertisements.


                  Sophia Acevedo, CEPF
                  Banking Reporter

                  Sophia Acevedo is a banking reporter at Insider. She covers bank reviews, banking guides, and banking and savings articles for Personal Finance Insider. She is also a Certified Educator in Personal Finance (CEPF).
                  Sophia joined Insider in July 2021 and is an alumna of California State University Fullerton where she studied journalism and minored in political science. She is based in Los Angeles. 
                  You can reach out to her on Twitter at @sophieacvdo or email sacevedo@insider.com.
                  Read more about how Personal Finance Insider chooses, rates, and covers financial products and services >>
                  Below are links to some of her most popular stories:

                  • Are banks open today? Here’s a list of US bank holidays for 2023
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                  Evelyn He
                  Compliance Associate

                  Evelyn He is a compliance associate at Insider who supports the Personal Finance Insider team. Personal Finance Insider is Insider’s personal finance section that incorporates affiliate and commerce partnerships into the news, insights, and advice about money that Insider readers already know and love.
                  The compliance team’s mission is to provide readers with stories that are fact-checked and current, so they can make informed financial decisions. The team also works to minimize risk for partners by making sure language is clear, precise, and fully compliant with regulatory and partner marketing guidelines that align with the editorial team.
                  Before joining Insider, she served in various legal and compliance roles in different industries, including the legal and pharmaceutical industries.   
                  Evelyn obtained her M.S. degree in Marketing at Boston University in 2022. Prior to combining and consolidating her knowledge of law and business, she spent one year finishing 1L courses at Suffolk University Law School to further her legal knowledge. She has also completed MBA business law courses while working on her Bachelor of Business Administration in Management at the University of Massachusetts, Amherst. 
                  Outside of work, she enjoys spending time with her 14-year-old Shih Tzu named Money, and her 4-year-old Bichon named Tibber.


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