When it comes to choosing a bank, there are a lot of options out there. But not all banks are created equal. Some are better than others in terms of fees, interest rates, and customer service. So, if you’re looking for the best online bank for your needs, look no further. In this blog post, we’ll share our top picks for the best online banks out there.
We’ll also share some things to keep in mind when choosing an online bank, so you can make the best decision for your needs.
American Express® National Bank
American Express National Bank is one of the best online banks in the United States. They offer a wide variety of banking products and services, including checking and savings accounts, credit cards, loans, and more.
American Express National Bank has been in business for over 140 years and is a trusted name in the financial industry. They offer 24/7 customer support and are FDIC-insured.
Best for High Yields: CIT Bank
CIT Bank is ideal for those who are looking to maximize their returns on investment. The bank offers a variety of high-yield savings account options, as well as CDs and money market accounts that offer competitive rates.
In addition, CIT Bank has no monthly fees or minimum balance requirements, making it a great option for those who want to keep their costs low.
Best for Investors: Wealthfront
Wealthfront is an online bank that offers a variety of services for investors. These include investment management, financial planning, and portfolio analysis. Wealthfront has a team of experienced professionals who can help you grow your wealth and reach your financial goals.
The company offers a variety of investment products, including mutual funds, ETFs, and bonds. Wealthfront has a team of financial advisors who can help you choose the right investments for your goals. The company also offers tax-advantaged accounts, such as IRAs and 401(k)s.
Best for Customer Support: Albert
If you\’re looking for the best online bank in terms of customer support, Albert is the clear winner. No matter what time of day or night you need help, you can always count on the Albert team to be there for you. Whether you\’re having trouble logging in, need help with a transaction, or just have a question about your account, they\’ll always be happy to help.
And if you ever need to speak to a human being, their call center is open 24/7. You won’t have to wait on hold for hours like with some other banks. Plus, they have a great app that makes it easy to manage your account on the go. So if you\’re looking for the best online bank in terms of customer support, Albert is the way to go.
Best for Overall Potential Returns: Tellus
Tellus is an online bank that offers the potential for high returns on your investment. Their unique approach to online banking allows them to offer some of the highest interest rates available, which means you can earn more on your money with Tellus.
Their online platform is also user-friendly and easy to navigate, so you can manage your finances and make transactions with ease. Plus, they offer a wide range of features and services that can help you save money and make the most of your finances.
With all of these advantages, it\’s no wonder that Tellus is one of the best online banks for overall potential returns. If you\’re looking for a place to grow your money, Tellus is a great option to consider.
Best for Automated Budgeting: Dough
If you\’re looking for an online bank that offers automated budgeting, Douugh is a great option. With Dough, you can connect your bank account and automatically categorize your spending. This makes it easy to see where your money is going and make adjustments to your budget accordingly.
Additionally, Dough offers a Debt Reduction Planner tool that can help you pay off debt faster. When you sign up for a plan, Douugh will track your progress and provide tips on how to stay on track.
If you\’re struggling to stick to a budget, Douugh\’s automation and debt reduction tools can be a helpful way to get your finances back on track.
Best for Teens and Young People: Copper Banking
If you\’re a teen or young person looking for a great online bank, Copper Banking is the perfect option. They offer all the features and services you need to manage your money, from checking and savings accounts to mobile banking and more.
Plus, their fees are very reasonable. Here\’s everything you need to know about Copper Banking.
Best for Freelancers and Self-Employed People: Lili
If you\’re a freelancer or self-employed person, Lili is the best online bank for you. With no monthly fees, early direct deposit, and a high-interest rate on savings accounts, Lili is a great choice for anyone who doesn’t have a traditional 9-5 job.
Plus, Lili offers free ATM withdrawals worldwide and has a mobile app that makes it easy to manage your finances on the go.
Best for Potential Returns on Savings & Spending: PrizePool
When it comes to online banks, PrizePool is one of the best options out there when it comes to potential returns on savings and spending. With this provider, you\’ll earn up to 2% cash back on all of your spending, and you can also choose to put your money into a prize pool where you could win up to $1 million.
In addition, there are no monthly fees or minimum balances with PrizePool, so you can really maximize your earnings potential with this provider.
Best for Savers: Quontic Bank
If you’re looking for a bank that offers great interest rates on savings accounts, Quontic Bank is a good option. This online bank has some of the best rates available, and you can open an account with as little as $1.
Quontic Bank offers several different savings account options, so you can choose the one that best fits your needs. TheInterestPlus Savings Account offers tiered interest rates, so the more you save, the higher your rate will be. This account has no monthly fees and no minimum balance requirements.
If you’re looking for a high-yield savings account, the High Yield Savings Account from Quontic Bank is a good option. This account earns 1.25% APY on all balances, and there are no monthly fees or minimum balance requirements.
For those who want to earn even more interest on their savings, the Quontic Bank MaxiMiser Savings Account offers competitive rates and allows you to earn up to 2% APY on your balance. There is a $10 monthly fee for this account, but it could be worth it if you have a large balance and want to earn the highest possible interest rate.
Best for Borrowers: Discover Bank
Discover Bank is one of the best online banks for borrowers. It offers a wide variety of loans, including personal loans, home equity loans, and auto loans. Discover also has a very user-friendly website and mobile app. Plus, it offers some of the lowest APRs on the market.