Online banks and banking service providers offer banking services without physical branches, and instead provide access to their services through desktop and mobile applications.
These online banks and banking service providers are commonly referred to as "digital banks" or "neobanks," and they operate entirely online. They often offer features such as online account opening, bill payments, money transfers, and access to ATMs and other banking services through their mobile or desktop apps.
One of the main benefits of digital banking is the convenience and accessibility it provides. Customers can access their accounts and manage their finances from anywhere with an internet connection, without the need to visit a physical branch. Additionally, digital banks may offer lower fees and higher interest rates than traditional brick-and-mortar banks, since they have lower overhead costs.
However, it's important to note that some people may still prefer to bank with traditional banks that have physical branches, as they may value the in-person customer service and the ability to speak with a banker face-to-face. Ultimately, the choice between digital banking and traditional banking comes down to personal preference and individual financial needs.
Axos Bank:
Axos Bank is an online-only bank that was founded in 2000 and is headquartered in San Diego, California. It is a federally chartered bank that offers a range of personal and business banking products and services, including checking and savings accounts, CDs, money market accounts, mortgages, personal loans, and business banking solutions.
Axos Bank is known for its competitive interest rates on its deposit accounts, including high-yield savings accounts and CDs. The bank also offers a rewards checking account that earns cashback on debit card purchases.
Axos Bank has received numerous awards and recognition for its products and services, including being named one of the "Best Online Banks" by NerdWallet, Money magazine, and Bankrate. The bank has also received an A+ rating from the Better Business Bureau.
One thing to note about Axos Bank is that it doesn't have any physical branch locations, so all banking is done online or through its mobile app. However, the bank does offer access to a large network of fee-free ATMs across the United States.
Alliant Credit Union:
Alliant Credit Union is a member-owned financial cooperative that was founded in 1935 and is headquartered in Chicago, Illinois. As a credit union, Alliant is owned by its members and operates as a not-for-profit organization, which means that profits are returned to members in the form of lower fees, higher interest rates, and better service.
Alliant Credit Union offers a range of personal banking products and services, including checking and savings accounts, credit cards, mortgages, personal loans, and investment options. The credit union also offers business banking solutions, including business checking and savings accounts, loans, and credit cards.
Alliant Credit Union is known for its high interest rates on its deposit accounts, including high-yield savings accounts and CDs. The credit union also offers a rewards checking account that earns cashback on debit card purchases.
One thing to note about Alliant Credit Union is that it has limited physical branch locations, with only a few locations in Chicago and California. However, members can access their accounts online or through the credit union's mobile app, and Alliant Credit Union has a large network of fee-free ATMs across the United States. Alliant Credit Union is also part of the CO-OP network, which allows members to access fee-free ATMs and shared branch locations at other credit unions across the country.
Varo Bank:
Varo Bank is an online-only bank that was founded in 2015 and is headquartered in San Francisco, California. The bank is a member of the Federal Deposit Insurance Corporation (FDIC) and offers a range of personal banking products and services, including checking and savings accounts, personal loans, and credit cards.
Varo Bank is known for its mobile-first approach to banking, with a user-friendly mobile app that allows customers to easily manage their accounts and access their money on-the-go. The bank also offers competitive interest rates on its deposit accounts, including high-yield savings accounts and CDs.
One unique feature of Varo Bank is its No-Fee Overdraft program, which allows customers to overdraft their accounts up to $50 without any fees. The bank also offers a unique program called Varo Advance, which allows customers to receive an advance on their paycheck up to two days early.
Varo Bank has received numerous awards and recognition for its products and services, including being named one of the "Best Online Banks" by NerdWallet and MagnifyMoney. The bank also received a 5-star rating from BauerFinancial, a leading independent bank rating and research firm.
Ally Bank:
Ally Bank is an online-only bank that was founded in 2009 and is headquartered in Detroit, Michigan. The bank offers a range of personal and business banking products and services, including checking and savings accounts, CDs, money market accounts, mortgages, personal loans, and business banking solutions.
Ally Bank is known for its competitive interest rates on its deposit accounts, including high-yield savings accounts and CDs. The bank also offers a reward checking account that earns cashback on debit card purchases.
Ally Bank has a user-friendly online banking platform and mobile app that allows customers to easily manage their accounts and access their money on the go. The bank also has a large network of fee-free ATMs across the United States.
One thing to note about Ally Bank is that it doesn't have any physical branch locations, so all banking is done online or through its mobile app. However, the bank does offer access to customer service representatives over the phone 24/7. Ally Bank has received numerous awards and recognition for its products and services, including being named one of the "Best Online Banks" by NerdWallet, Money magazine, and Bankrate. The bank has also received an A+ rating from the Better Business Bureau.
Discover Bank:
Discover Bank is an online bank that was founded in 1985 and is headquartered in Riverwoods, Illinois. The bank offers a range of personal and business banking products and services, including checking and savings accounts, CDs, money market accounts, personal loans, and credit cards.
Discover Bank is known for its competitive interest rates on its deposit accounts, including high-yield savings accounts and CDs. The bank also offers a reward checking account that earns cashback on debit card purchases.
Discover Bank has a user-friendly online banking platform and mobile app that allows customers to easily manage their accounts and access their money on the go. The bank also has a large network of fee-free ATMs across the United States.
One unique feature of Discover Bank is its Cashback Debit program, which allows customers to earn cash back on debit card purchases. The bank also offers a free credit monitoring service that allows customers to track their credit scores and receive alerts for changes.
Discover Bank has received numerous awards and recognition for its products and services, including being named one of the "Best Online Banks" by NerdWallet, Money magazine, and Bankrate. The bank has also received an A+ rating from the Better Business Bureau.
SoFi:
SoFi (short for Social Finance) is an online personal finance company that was founded in 2011 and is headquartered in San Francisco, California. SoFi offers a range of financial products and services, including personal loans, student loan refinancing, mortgages, investment accounts, and life insurance.
In addition to its lending and investment products, SoFi also offers a mobile-first banking platform that includes checking and savings accounts, which are FDIC-insured through partner banks. SoFi Money, the bank account offers, offers competitive interest rates, no account fees, and unlimited reimbursement for ATM fees.
SoFi also offers a variety of perks and benefits for its members, including career services and networking events, financial planning tools and advice, and exclusive member events and experiences.
One unique feature of SoFi is its "member get member" program, which allows current customers to refer their friends to the company and receive a cash bonus for each successful referral.
SoFi has received numerous awards and recognition for its products and services, including being named one of the "Best Online Banks" by NerdWallet and Bankrate, and one of the "Most Innovative Companies" by Fast Company. The company is committed to using technology to improve financial access and education for its members.
Marcus by Goldman Sachs:
Marcus by Goldman Sachs is an online-only bank that was launched in 2016 by Goldman Sachs, a leading global investment bank. The bank offers a range of personal banking products and services, including high-yield savings accounts, CDs, personal loans, and home improvement loans.
Marcus is known for its competitive interest rates on its deposit accounts, including its high-yield savings account and CDs. The bank does not charge any account fees and has no minimum deposit requirements.
Marcus also offers a user-friendly online banking platform and mobile app that allows customers to easily manage their accounts and access their money on the go. The bank has a dedicated customer support team available to assist customers by phone or email.
One unique feature of Marcus is its flexible loan options, which allow customers to choose their loan terms and payment due dates. The bank also offers a savings goal feature that helps customers track their progress toward their financial goals.
Synchrony Bank:
Synchrony Bank is an online bank that was founded in 1988 and is headquartered in Draper, Utah. The bank offers a range of personal and business banking products and services, including high-yield savings accounts, money market accounts, CDs, personal loans, and credit cards.
Synchrony Bank is known for its competitive interest rates on its deposit accounts, including its high-yield savings account and CDs. The bank also offers a reward checking account that earns cashback on debit card purchases.
Synchrony Bank has a user-friendly online banking platform and mobile app that allows customers to easily manage their accounts and access their money on the go. The bank also has a large network of fee-free ATMs across the United States.
One unique feature of Synchrony Bank is its "Perks" program, which offers discounts and special offers on a variety of products and services to its account holders. The bank also offers a free credit monitoring service that allows customers to track their credit scores and receive alerts for changes.
Synchrony Bank has received numerous awards and recognition for its products and services, including being named one of the "Best Online Banks" by NerdWallet and Bankrate. The bank has also received an A+ rating from the Better Business Bureau.
Capital One:
Capital One is a financial services company that offers a wide range of banking products and services, including checking and savings accounts, credit cards, loans, and investment accounts. While Capital One has traditional brick-and-mortar branches in select locations, the company is primarily an online bank that provides access to its products and services through its website and mobile app.
Capital One is known for its credit card offerings, including a variety of rewards cards and cashback cards. The bank also offers a range of deposit accounts, including high-yield savings accounts, CDs, and money market accounts.
Capital One has a user-friendly online banking platform and mobile app that allows customers to easily manage their accounts and access their money on the go. The bank also has a large network of fee-free ATMs across the United States.
One unique feature of Capital One is its "CreditWise" service, which provides customers with free access to their credit score and credit monitoring alerts. The bank also offers a variety of financial education resources and tools to help customers improve their financial literacy and manage their money more effectively.
Capital One has received numerous awards and recognition for its products and services, including being named one of the "Best Online Banks" by NerdWallet and Money magazine. The bank has also received high marks for its customer service and commitment to providing innovative financial solutions.
GO2bank:
GO2bank is an online banking platform that was launched in 2020 by Green Dot Corporation, a financial technology and banking company. GO2bank offers a range of banking products and services, including a mobile banking app, a checking account, a savings account, and a debit card.
One of the standout features of GO2bank is its early direct deposit feature, which allows customers to receive their paychecks up to two days early. The platform also offers a high-yield savings account with a competitive interest rate and no minimum balance requirements.
GO2bank also offers a rewards program for using its debit card, which includes cashback on qualifying purchases. The platform has a user-friendly app and website that allows customers to easily manage their accounts and track their spending.
Another unique feature of GO2bank is its overdraft protection program, which allows customers to opt-in for a $200 overdraft limit with no fees or interest charges. Additionally, GO2bank offers a range of budgeting and financial planning tools to help customers manage their money more effectively.
GO2bank has received positive reviews for its customer service and its commitment to financial inclusion, as the platform is accessible to individuals who may have difficulty accessing traditional banking services. The platform has also been recognized as one of the "Best Online Banks" by NerdWallet.
LendingClub Bank:
LendingClub Bank is an online bank that offers personal banking products and services, including checking and savings accounts, personal loans, and credit cards. The bank is a subsidiary of LendingClub Corporation, a peer-to-peer lending platform that connects borrowers with investors.
LendingClub Bank offers a range of deposit accounts, including a high-yield savings account and CDs, with competitive interest rates. The bank also offers a reward checking account that earns cashback on debit card purchases.
The bank has a user-friendly online banking platform and mobile app that allows customers to easily manage their accounts and access their money on the go. LendingClub Bank also offers a personal loan product that allows customers to borrow up to $40,000 for a variety of purposes, including debt consolidation, home improvements, and major purchases.
One unique feature of LendingClub Bank is its "Auto-Savings" program, which allows customers to set up automatic savings transfers from their checking account to their savings account. The bank also offers a budgeting tool that helps customers track their spending and create a personalized budget.
LendingClub Bank has received positive reviews for its customer service and its competitive interest rates on its deposit accounts. The bank has also been recognized as one of the "Best Online Banks" by NerdWallet and MagnifyMoney.
NBKC bank:
NBKC Bank is an online bank that provides a range of banking products and services, including checking and savings accounts, mortgages, personal loans, and business banking solutions. The bank was founded in 1999 and is headquartered in Overland Park, Kansas.
NBKC Bank offers a variety of deposit accounts with competitive interest rates, including a high-yield savings account, money market account, and CDs. The bank also offers a fee-free checking account with no monthly maintenance fees or minimum balance requirements, as well as a range of other benefits such as unlimited ATM fee refunds and free online bill pay.
The bank has a user-friendly online banking platform and mobile app that allows customers to easily manage their accounts and access their money on the go. NBKC Bank also offers a range of mortgage products, including conventional loans, jumbo loans, FHA loans, and VA loans.
One unique feature of NBKC Bank is its commitment to giving back to the community. The bank has a program called "NBKC Pays It Forward," which donates a portion of its profits to local charities and non-profit organizations.
NBKC Bank has received positive reviews for its customer service and its commitment to transparency and ethical business practices. The bank has also been recognized as one of the "Best Online Banks" by NerdWallet, MagnifyMoney, and Bankrate.
American Express National Bank:
UFB Direct:
TIAA Bank:
