The 10 best online banks and credit unions right now (2024)

SoFi (which stands for Social Finance, Inc.) began as a student loan refinancing company and has since expanded into a broad financial services company that offers a range of products, including bank accounts, loans, investments, insurance, and more. SoFi operates primarily online and does not have physical branches.

SoFi members with Direct Deposit or $5,000 or more in Qualifying Deposits during the 30-Day Evaluation Period can earn 4.60% annual percentage yield (APY) on savings balances (including Vaults) and 0.50% APY on checking balances. There is no minimum Direct Deposit amount required to qualify for the stated interest rate. Members without either Direct Deposit or Qualifying Deposits, during the 30-Day Evaluation Period will earn 1.20% APY on savings balances (including Vaults) and 0.50% APY on checking balances. Interest rates are variable and subject to change at any time. These rates are current as of 10/24/2023. There is no minimum balance requirement. Additional information can be found here.

Quontic Bank is a digital bank that first started as a community bank in New York City in 2009. It is an FDIC-insured bank offering online and mobile banking platforms and a fee-free ATM network made up of 90,000 ATMs across the country. It offers several checking accounts, savings accounts, and mortgage products.Quontic Bank made our list for its competitive deposit rates, low fees, and massive ATM network. A major selling point: Quontic doesn’t charge overdraft fees. For the online banker who isn’t diligent about checking their account balance, this could be a lifesaver. What’s more, Quontic offers multiple customer support options and mortgage products in addition to its checking and savings accounts.Learn more: read our Quontic Bank review

Customers can contact a customer service representative via live chat, email, and telephone Monday through Friday between 9 a.m. and 6 p.m. Eastern time.

Bank5 Connect is an online division of BankFive, a Massachusetts-based community that has been serving customers since 1855. It offers checking and savings accounts, and certificates of deposit (CDs). Bank5 Connect does not offer any branded ATMs. However, it does offer customers free access to thousands of ATMs across the country via the SUM Network.Bank5 Connect is a smaller online bank, but offers competitive interest rates on the products it carries, including an impressive 2.70% APY on its checking account and 1.50% APY on savings. This combination of strong interest rates on both types of accounts pushed Bank5 to the top of our list. This institution offers multiple avenues to get in touch if you need help, offering customer support via phone, email, and live chat. However, customer service hours vary widely throughout the week, which can make it difficult to know when you might be able to get a representative on the phone.Learn more: read our Bank5 Connect review

For assistance, customers can reach a support specialist via telephone Monday through Wednesday from 7:30 a.m. to 5:00 p.m. ET, Thursday and Friday from 7:30 a.m. to 7:00 p.m. ET, Saturday from 7:30 a.m. to 3:00 p.m. ET, and Sunday from 11:00 a.m. to 3:00 p.m. ET. The bank also offers a live chat option.

A division of PeoplesBank, Zynlo is a fully digital bank that provides special perks such as market-leading deposit rates, earlier access to paychecks, and rewards on debit card purchases. Plus, as a Massachusetts-based institution, all deposits above the $250,000 Federal Deposit Insurance Corp. (FDIC) limit are insured in full by the Depositors Insurance Fund (DIF). That means your deposits are 100% insured regardless of the amount.Zynlo’s More Spending checking account offers an impressive 2.00% APY. Pair this with its high-yield Tomorrow Savings account, which earns a whopping 5.00% APY, and you can participate in the ZYNG Round up and Match bonus program. Every debit card purchase is rounded up to the nearest dollar, Zynlo matches that round up, then the total is deposited to your savings account. This allows you to earn an additional 4.11% return or more on your money.Zynlo customers can manage their accounts from any smartphone, tablet, or computer. As part of the Allpoint ATM network, you’ll always have nearby access to your cash.Learn more: read our Zynlo Bank review

Zynlo representatives can be reached 24 hours a day, 365 days a year by calling (844) ZYNLOBANK (844) 996-5622 or emailing support@zynlobank.com.

Laurel Road is a digital banking platform and brand of KeyBank. It specializes in providing online banking and lending services and is particularly known for student loan refinancing. However, it also offers excellent deposit account options, including rewards checking and high-yield savings.The Cash Rewards checking account from Laurel Road allows you to earn up to $20 for every month you make qualifying automated clearing house (ACH) direct deposits during the first 12 months, and $10 for every month after that for as long as your account is open. It also comes with a $100 welcome bonus. You can also opt for the Refinancing Plus checking account, which provides a rate discount on your refinanced student loan.Additionally, the high-yield savings account offers one of the best rates available today at 5.00% APY with no fees or minimum balance requirements. You can reach customer support about any time via phone, email, or live chat.Learn more: read our review of Laurel Road

You can get in touch with a Laurel Road representative by calling (833) 427-2265 Monday through Friday from 8 a.m. to 8 p.m. ET. You can also email customer service at help@laurelroad.com.

American Express has a history that stretches back to 1850 and has since become globally recognized for its credit cards, rewards, personal, and business banking products. They also have a wide network of over 37,000 free ATMs.American Express took the fifth spot on our list for its competitive APY on its savings account, high mobile app rating, and wide range of product offerings. Amex offers personal bank accounts, credit card products with robust rewards programs, and a suite of business products and solutions for consumers who need the best of both worlds.Learn more: read our American Express National Bank review

Customer support specialists are available 24/7 over the phone or via live chat. The Amex app is also available for download on the Apple App Store and Google Play.

Capital One is one of the largest banks in the country, headquartered in Virginia with a strong online presence as well as some physical branches across the country. Customers have access to a network of more than 70,000 ATMs nationwide.Capital One garnered a spot on our list for its excellent savings account rate of 4.35% APY, lack of fees, and robust online tools. Capital One’s app gives users the power to manage their Capital One credit cards and deposit accounts, receive purchase notifications, pay bills, send money from their accounts, check their VantageScore, and more.

Capital One offers chat and phone support from 8 a.m. to 8 p.m. ET, seven days a week. Customers can also send secure messages within the mobile app.

Ally is an online-only bank that offers a wide range of financial products and services, including deposit accounts, credit cards, loans, robo-advisors, and more. Despite the lack of physical branches, Ally customers can easily access their money free of charge via the Allpoint network of ATMs.The checking account from Ally comes with several perks, including early direct deposit, no maintenance fees, no overdraft fees, and access to thousands of fee-free ATMs. If you do need to use an out-of-network ATM, however, Ally reimburses up to $10 in fees each month. Further, its savings account offers a rate more than five times the national average at 4.25% APY, plus the ability to organize your savings into buckets so that you can better track your progress toward certain goals. The APY on the checking account is tiered, customers get a 0.10% APY for balances less than $15,000 and 0.25% for balances above that.Account holders can also reach a representative day or night via phone, chat, and email.Learn more: read our review of Ally Bank

For assistance with any of Ally’s bank accounts, credit cards, investment products, or services, customers can reach a representative via live chat, email, or phone 24/7.

While LendingClub started off in 2007 as an online lending platform, its offerings have expanded widely. Its offerings now include checking, savings, CDs, and other deposit accounts. With a 5.00% APY, you can watch your money grow in the high-yield savings account. While not extravagant, it also offers 0.15% APY on its checking account, which is certainly better than nothing. With no maintenance or NSF fees and no minimum balance requirements, LendingClub could be a decent option for customers looking to do all of their banking online.

Customer service is available by phone Monday through Saturday from 8 a.m. to 8 p.m. Eastern time, as well as a Help Center with answers to most FAQs.