Best Online Banks Of July 2022

Quontic offers competitive APYs, low minimum deposit requirements, low fees and access to 90,000+ surcharge-free ATMs throughout the U.S. As a Quontic customer, you get all the features you may expect from a digital bank, including 24/7 access to online banking and a mobile app.

In addition to its traditional banking products—High Interest Checking, High Yield Savings, money market accounts and CDs—Quontic offers a couple of other innovative accounts. The bank has a Cash Rewards Checking account that pays up to 1.50% cash back on qualifying debit card transactions each statement cycle. And, in select states, Quontic offers a Bitcoin Rewards Checking account that pays 1.50% Bitcoin on eligible debit card purchases.

Customer service is available via live chat, email and phone.

Read our full Quontic Bank Review.

Quontic Bank offers one savings account, three checking accounts, a money market account and five CDs with terms ranging from six months to five years. Quontic launched its Bitcoin Rewards Checking account in 2020, which is only available in select states so far. The mobile app gets 4.5 stars out of 5 on the App Store and 3.4 stars out of 5 on Google Play.

Axos Bank checks a lot of boxes. It keeps its fees low and its APYs relatively high. The minimum deposit requirements are reasonable. And customers have access to approximately 91,000 ATMs throughout the U.S., with unlimited domestic ATM fee reimbursements for out-of-network ATM use.

Plus, Axos offers 24/7 customer service (including Thanksgiving Day and Christmas Day) via phone and secure online messaging. The site also has a live chat feature available during regular business hours.

Axos does well on the mobile banking front, too. The bank’s app is highly rated on the App Store and Google Play and allows users to take care of basic banking needs on the go.

Read our full Axos Bank Review.

Axos offers five different checking accounts, one savings account, one money market account and CDs with terms that range from three months to five years. Its mobile app gets 4.7 stars out of 5 on the App Store and 4.6 stars out of 5 on Google Play.

Discover Bank keeps its fees to an absolute minimum. It doesn’t charge monthly maintenance fees, insufficient funds fees or fees for using out-of-network ATMs. There’s also no fee for stop payment orders, returned items or excessive withdrawals.

The bank’s checking account earns 1% cash back on up to $3,000 of qualifying debit card purchases each month. And customers have access to an extensive ATM network. The savings account pays a competitive rate and Discover offers a suite of other banking products and services.

Discover also offers mobile banking—the app gets high scores on the App Store and Google Play. Customer service is available 24/7, every day of the year.

Read our full Discover Bank Review.

Discover Bank offers a cash back checking account, a high-yield savings account, a money market account and CDs with terms from three months to 10 years. The mobile app gets 4.9 stars out of 5 on the App Store and 4.7 stars out of 5 on Google Play.

Ally, a full-service online bank, offers consistently competitive rates on its products with low fees and no monthly maintenance fees or minimum balance requirements. It has an extensive ATM network and it reimburses up to $10 per statement cycle for fees charged at out-of-network ATMs.

Ally customers also get access to the bank’s savings tools. With Ally’s savings account, you can create “buckets,” allowing you to set 10 different savings goals within a single account. The bank also has a “round ups” feature that looks for transactions in your checking account that it can round to the nearest dollar and transfer to your savings account. And the bank’s “surprise savings” feature analyzes your Ally checking account for money that’s safe to save and transfers it to your savings account automatically.

Ally Bank earns high customer satisfaction scores, with a customer service department available 24/7 by phone. You can also get your questions answered via live chat, email and regular mail.

Ally’s mobile app, available on iOS and Android, gets high scores in the App Store and Google Play.

Read our full Ally Bank Review.

Ally Bank offers a savings account, interest-checking account, money market account and CD terms from three months to five years. It also offers a raise your rate CD with terms of two and four years and a no-penalty CD with a term of 11 months. The mobile app gets 4.7 stars out of 5 on the App Store and 3.9 stars out of 5 on Google Play.

nbkc bank’s Everything Account is an interest-bearing checking and savings account combined into one. You can spend, save and pay bills from a single account. It comes with an extensive ATM network and reimburses up to $12 per month for out-of-network ATM fees.

Overall, nbkc bank is a full-service bank that keeps fees to an absolute minimum. There are no monthly maintenance fees, overdraft fees, minimum balance fees or foreign transaction fees. Incoming domestic wire transfers are free as well.

Customer service is available by live chat, phone or email. And you can access your accounts on the go with the bank’s mobile app.

Read our full nbkc bank Review.

nbkc bank offers a combined checking and savings account, a money market account and CD terms from three months to five years. It also has an add-on CD that has a term of one year. The mobile app gets 4.4 stars out of 5 on the App Store and 4.0 stars out of 5 on Google Play.

All of iGObanking’s traditional products (CDs, savings, checking and money market accounts) offer competitive APYs and low fees, making it a good place to stash cash for near-term financial goals.

iGOBanking also offers access to an extensive surcharge-free ATM network, and it rebates up to $15 per month in domestic ATM fees that other banks charge.

The bank’s accounts are accessible online and through its mobile app, available for iOS and Android. Customer service is available seven days a week by phone or email.

Read our full iGObanking Review.

iGObanking offers a checking account, a savings account, a money market account and traditional CDs with terms of 15, 18, 24 and 36 months. It also offers the GiftsforBanking CD, which offers a gift of your choice when opening a two-, three- or five-year CD with a deposit of $25,000 or more. The mobile app receives 4.0 stars out of 5 on the App Store and 3.6 stars out of 5 on Google Play.

Salem Five Direct insures balances without limitation through a combination of insurance safeguards. The Federal Deposit Insurance Corporation (FDIC) insures each depositor, per ownership category, up to $250,000. All deposits above that amount are covered by the Massachusetts Depositors Insurance Fund (DIF). This differs from many other banks, which generally limit deposit insurance to the FDIC maximum.

Salem Five Direct doesn’t charge monthly fees or out-of-network ATM fees. It also reimburses fees that other banks charge, up to $15 per statement cycle.

Like the other online banks on this list, Salem Five Direct’s mobile app is highly rated. Customer service is available via live chat, online messaging, email and phone.

Read our full Salem Five Direct Review.

Salem Five Direct offers a checking account, a savings account and CDs with terms from 12 months to 36 months. The mobile app gets 4.7 stars out of 5 on the App Store and 3.2 stars out of 5 on Google Play.

TIAA Bank offers a Yield Pledge promise with its checking and money market accounts, which guarantees that the interest rate you earn will be among the top 5% of “competitive accounts.” This is based on accounts from the 10 largest banks and thrifts in 10 large U.S. markets. While the bank’s Yield Pledge doesn’t mean you’ll earn the highest rate around, you’ll know that you’re at least earning a competitive rate compared to large banks and thrifts.

In addition, the bank charges no monthly fees on its accounts, no overdraft fee from a linked TIAA bank account and no ATM fees. TIAA also automatically reimburses up to $15 each month for third-party ATM charges. Keep a minimum balance of $5,000 or more in your checking account and you’ll get unlimited ATM reimbursements.

TIAA’s mobile app is highly rated. Customer service is available seven days a week via phone and email.

Read our full TIAA Bank Review.

TIAA offers a checking account (Yield Pledge Checking), money market account (Yield Pledge Money Market), basic CDs, a bump-up CD and what it calls an IntraFi CD, a CD that offers expanded FDIC insurance on deposits. The app earns 4.7 stars out of 5 on the App Store and 4.6 stars out of 5 on Google Play.

Vio Bank offers competitive interest rates, low fees and relatively easy-to-meet minimum deposit amounts across its three main products—savings, money market accounts and CDs. Notably, it doesn’t offer a checking account, ATM network or branches, making it a good place for those who want to park cash for growth.

That said, you can still access your deposit accounts through the bank’s highly rated mobile app and make internal and external transfers. You can also fund your Vio accounts via ACH transfer with an external bank account. And the bank doesn’t charge for incoming or outgoing wire transfers.

Read our full Vio Bank Review.

Vio Bank offers a savings account, money market account and CDs with terms from six months to 120 months. Its mobile app gets 4.6 stars out of 5 on the App Store and 3.3 stars out of 5 on Google Play.

Capital One 360 is a hybrid between an online and brick-and-mortar bank. You can access your accounts at any time from anywhere online or via the bank’s highly rated mobile app.

Plus, in select locations, you can also find Capital One Cafés. At these spaces, you can get personal support in a coffee-shop atmosphere. Cafés offer certified money coaches, money workshops and assistance with opening and managing Capital One accounts. If you can’t find a Café near you, Capital One also offers full-service branches in some states. Physical locations aren’t something you’ll find with most online banks.

Customer service reps are available seven days a week by phone, from 8 a.m. to 11 p.m. ET. And Eno, the bank’s virtual assistant, is available in the mobile app or by text. You can also send Capital One a message on Twitter.

Capital One 360 makes it easy to open and maintain your accounts—whether it’s a savings account, checking account or CD. None of the bank’s products require a minimum deposit or minimum balance.

Read our full Capital One 360 Bank Review.

Capital One 360 offers a savings account (360 Performance Savings), checking account (360 Checking) and CDs (360 CDs). It also offers a Kids Savings Account and MONEY Teen Checking. Its mobile app gets 4.9 stars out of 5 on the App Store and 4.6 out of 5 stars on Google Play.