When customers lamented their experiences with taxis, Uber and Lyft offered a new way to get around town.
(Lack of safety is just one of many myths about online banks.)
Our team has compiled alist of creative waysyou can fatten your bank account this week.
You don’t need every feature, so think about your needs before choosing an account. Opening accounts with multiple institutions could help you secure the best features.
This is a long list, so dont get overwhelmed.
Well keep it updated as offers changes or expire.
For a full run down of fees and services, check out our completeAlly Bank review.
There are no account fees, no monthly fees and no overdraft fees.
Capital One 360
What Is an Online Checking Account?
That makes online checking accounts especially attractive.
you might open an account at an online-only bank or a brick-and-mortar bank with special online accounts.
How Do Online Checking Accounts Work?
Youll get a debit card and maybe a checkbook to treat the account just like any other checking account.
How Do I Deposit and Withdraw Money with an Online Checking Account?
Depositing checks at online banks is easy.
Note:Some banks may have limits on the size of the check that can be deposited.
For example, Chime lets you make fee-free deposits at Walgreens and Capital One at CVS.
you’re able to also fund your checking account via direct deposit.
Withdrawing money from your online bank account works similarly.
you’re free to go to an ATM that is in internet for free withdrawals.
you could also transfer money to a connected account and withdraw in person.
Here are a few tips that might help in when searching for the best online banks.
Ultimately, you have to decide which checking account benefits are more important to you.
Are you looking at yourchecking accountas a small but smart investment strategy?
Go with an account with a higher APY.
Do you regularly rely on cash when traveling?
Look for an online bank without ATM surcharges and that reimburses you out of data pipe.
You should also consider whether banks or credit unions are the right option for you when researching checking accounts.
Based on these factors, we ranked the checking accounts by best features overall.
Even the best online banks have some hidden fees to be aware of.
Weve rounded up the answers to the most common questions.
Yes, online banks are safe.
Not sure whether you should go with a bank or credit union?
Check out thepros and consof banks and credit unions before making a decision.
Secure online banks and credit unions will also offer account security features like multi-factor authentication and biometrics.
That said, youcanfind online banks with no minimum deposit at opening and no minimum balance.
So yes, some banksdoallow you to open a checking account with no money.
Many of the best online banks advertise fee-free checking accounts.
Some examples include SoFi, Chime, Capital One and nbkc.
Some of Chimes competitorsand thus alternatives for you to considerinclude Current Bank, Varo, and Acorns.
Current Bank allows you to set up Savings Pods, little sub savings accounts to work toward a goal.
you might also get your paycheck two days early.
Varo Bank has checking and savings accounts, the latter with an automatic savings tool.
Varo also has early direct deposits.
Finally,Acornsallows you to get involved in micro-investing, rounding up your purchases and investing the remaining amount.
There is a monthly service fee for this account, however.
Timothy Moore is a personal finance writer and editor.
Hes been featured on sites like Sound Dollar, Debt.com and Insider.
Chime disclosure: Chime is a financial technology company, not a bank.
Banking services provided by The Bancorp Bank, N.A.
or Stride Bank, N.A., Members FDIC.
APY: The Annual Percentage Yield (APY) is variable and may change at any time.
The disclosed APY is accurate as of 2/19/2025.
No minimum balance required.
Eligibility for SpotMe requires $200 or more in qualifying direct deposits to your Chime Checking Account each month.
Your SpotMe Limit will be displayed to you within the Chime mobile app.
You will receive notice of any changes to your SpotMe Limit.
SpotMe for Credit Builder and SpotMe on Debit share a single SpotMe limit.
Your SpotMe Limit may change at any time, at Chime or its banking partners discretion.
SpotMe wont cover non card transactions, including ACH transfers, Pay Anyone transfers, or Chime Checkbook transactions.
SpotMe Terms and Conditions.
Wealthfront Fine Print:
1.
2.Client must maintain $500 by the 30 day mark.
See website for details.
3.Checking features for the Cash Account are subject to identity verification by
Green Dot Bank, Member FDIC.
Cash account is offered by Wealthfront Brokerage LLC (Wealthfront Brokerage;), a Member of FINRA/SIPC.
Wealthfront Brokerage is not a bank.
The APY rate listed is as of 09/19/2024 and is subject to change at any time.
Fees and Eligibility requirements may apply to certain checking features, hey see the Deposit Account Agreement for details.
Limits, fees, and exclusions apply.
All investing involves risk, including the possible loss of money you invest.
New Cash Account deposits are subject to a 2-4 day holding period before becoming available for transfer.
Wealthfront doesnt charge for transfers, but receiving institutions may impose an RTP fee.
Penny Hoarders opinions in this article are their own and are not tied directly to such compensation.
- SoFi Checking and Savings (member FDIC):
1.
Cash bonus will be based on the total amount of Direct Deposit.
Direct Deposit Promotion begins on 12/7/2023 and will be available through 12/31/24.
Full terms at sofi.com/banking.
SoFi Checking and Savings is offered through SoFi Bank, N.A., Member FDIC.
Interest rates are variable and subject to change at any time.
These rates are current as of 10/31/2024.
There is no minimum balance requirement.
Additional information can be found athttp://www.sofi.com/legal/banking-rate-sheet.
There is no minimum Direct Deposit amount required to qualify for the stated interest rate.
Only SoFi members with direct deposit are eligible for other SoFi Plus benefits.
Interest rates are variable and subject to change at any time.
These rates are current as of 10/31/2024.
There is no minimum balance requirement.
Additional information can be found athttp://www.sofi.com/legal/banking-rate-sheet.
Fee Policy
Our account fee policy is subject to change at any time.
Deposits may be insured up to $3M through participation in the program.
See full terms atSoFi.com/banking/fdic/sidpterms.
See list of participating banks atSoFi.com/banking/fdic/participatingbanks.
SoFis ATM policies are subject to change at our discretion at any time.
Members with a prior history of non-repayment of negative balances are ineligible for Overdraft Coverage.
(Can you sense my millennial sarcasm there?)
You know which ones were talking about: rent, utilities, cell phone bill, insurance, groceries…
