The best online banks of 2024

• High yields and low minimums: EverBank offers high rates on its savings and money market accounts, as well as some of its CDs. Its checking account also earns some interest. All accounts require a minimum deposit of either $0 or $100, and a minimum deposit of $1,000 for CDs.
• Expanded federal deposit insurance: For customers whose deposits exceed the Federal Deposit Insurance Corp. limit of $250,000, EverBank offers a CDARS CD account. This uses IntraFi Network Deposits to distribute the money to other banks in the network, which broadens insurance protection while giving customers the convenience of working with just one bank.
• Broad reach: EverBank serves customers in all 50 states and has a highly rated mobile app that lets you pay bills, deposit checks and bank on the go. It also provides access to nearly 100,000 fee-free ATMs.

CDs, Savings account, Money market account, Checking account

• Competitive APYs: The high-interest checking account has one of the best APYs you’ll find on such an account at any bank. Its savings and money market accounts rank up there, too, as do its CD rates. Quontic is worth a look by serious savers who prefer digital banking.
• Low minimum deposit requirements: You can open Quontic’s high-interest checking account with just $100; the same goes for its high-yield savings and money market accounts. CDs require just $500 to open.
• No overdraft or monthly fees: Checking account customers don’t have to worry about overdraft or nonsufficient funds (NSF) fees. There’s also no monthly service fee on the high-yield savings account or the money market account.

CDs, Savings account, Money market account, Checking account

• Top rates: Ally consistently offers savers high annual percentage yields (APYs). What’s more, it doesn’t require minimum deposits to open accounts — including for certificates of deposit (CDs) — so products are accessible to all savers.
• Robust ATM network: Ally customers have fee-free access to more than 75,000 ATMs across the country in the Allpoint and MoneyPass networks. What’s more, Ally reimburses up to $10 each statement cycle in fees charged at other ATMs nationwide.
• No monthly fees: As an Ally Bank customer, you won’t waste your money on monthly maintenance fees — Ally doesn’t charge them. It even abolished overdraft fees.

CDs, Savings account, Money market account, Checking account

• Competitive savings account rate: LendingClub’s High-Yield Savings account earns a very competitive rate that’s well above the national average. The account comes with an ATM card and charges no monthly maintenance fee. It requires no minimum balance or opening balance.
• Rewards checking account: This account pays 1 percent unlimited cash back on debit purchases when you meet minimum balance or direct deposit requirements. It also earns some interest on balances of $2,500 and up, and large balances earn a higher APY. There are no maintenance fees, and you’ll receive unlimited rebates for ATM surcharges imposed by other banks.
• Fee-free ATM withdrawals: LendingClub customers can withdraw money from more than 37,000 MoneyPass and SUM ATMs. And they can make deposits at participating MoneyPass ATMs. 

CDs, Savings account, Checking account

• No fees: Discover’s standout features include not charging fees for its deposit products — that includes not charging customers fees for overdrafts or NSF fees.
• No minimum deposit requirements: The online bank doesn’t require a minimum deposit to open a savings account or a checking account.
• Rewards checking account: Discover offers a rewards checking account that gives you cash back when you make debit card purchases. Free ATMs are plentiful, too: There are more than 415,000 ATMs across the country, including those in the Allpoint and MoneyPass networks.

CDs, Savings account, Money market account, Checking account

• Accessible to all savers: Bank5 Connect is accessible to savers of all levels. The bank’s savings account, checking account and CDs all have low balance requirements. You need to deposit only $100 to start earning interest in the Connect Savings account, for example.
• No monthly fees: The bank also ranks highly for offering checking and savings accounts without maintenance fees.
• Free ATM access and rebates: Even if you use an ATM outside of the bank’s network, Bank5 won’t charge you. The online bank will also refund you up to $15 per statement cycle should the ATM operator charge you a fee.

CDs, Savings account, Checking account

• High rates: The savings and checking accounts earn competitive yields when deposit requirements are met.
• No fees: You won’t be hit with maintenance fees or overdraft fees. There are no minimum opening deposit requirements.
• Early direct deposit: You may be able to receive your paycheck up to two days early.

Savings account, Checking account

• No minimum balance requirements: Whether you’re opening a CD, a checking account or a savings account, there’s no required minimum deposit.
• No monthly fees: The savings and checking accounts don’t charge maintenance fees.
• 24/7 customer service: Bank representatives can be reached by phone around the clock.

CDs, Savings account, Checking account

• High yields: CIT Bank’s savings account earns a competitive yield, while its money market account and some CDs earn APYs that are above averages. 
• Specialty CDs: In addition to standard CDs available in eight term lengths, CIT Bank offers a no-penalty CD as well as jumbo CDs with terms between two and five years.
• Free ATM access and rebates: CIT Bank won’t charge you for using ATMs outside of its network. It will also refund up to $30 each month in charges from operators of other ATMs.

CDs, Savings account, Checking account, Money market account