Top 10 Digital Banks In The USA

A bank that works well for one person may not suit someone else. A freelancer might want an account with no monthly fee. Someone with a regular salary might care more about early direct deposit. Others may already have a checking account and simply want their savings to earn more interest.

Online banks take different approaches to these needs. Some offer checking and savings accounts alongside loans and investment products. Others focus on mobile banking, rewards or savings rates. The details matter more than the name of the bank, especially when fees, account access and eligibility rules differ.

Here are ten digital banks and banking providers in the United States, with a closer look at what each one offers.

Quick comparison of 10 digital banks in the USA

Digital bank	Standout feature	Account options	Main advantage
SoFi	Banking, loans and investment products in one place	Checking and savings	One platform for several financial needs
Chime	Mobile banking with no monthly checking fee	Checking and savings	Simple account access through an app
Ally Bank	Savings buckets and automatic transfers	Spending and savings accounts	Helps customers set money aside for different goals
Capital One 360	Online banking plus selected physical locations	Checking and savings	A mix of digital services and in-person support
Axos Bank	Multiple checking account choices	Several checking and savings products	More account types to compare
nbkc Bank	Interest on checking balances	Everything Account	Earns interest on money kept in the account
American Express Rewards Checking	Interest and Membership Rewards points	Rewards Checking	Combines account interest with eligible rewards
Bask Bank	Cash interest or airline miles on savings	Savings accounts and CDs	Two ways to earn value from savings
Live Oak Bank	High-yield savings and CDs	Savings and CDs	A separate home for savings and longer-term deposits
Varo Bank	Automatic savings tools in a mobile app	Checking and savings	Helps customers keep savings apart from daily spending

1. SoFi

SoFi offers a checking account and a savings account as one product. Customers can use the account for salary deposits, bill payments and savings. They can also explore other SoFi services, including personal loans and investment accounts, without going to a different provider.

There is no monthly maintenance fee for SoFi Checking and Savings. The account may also pay interest on savings, but the rate depends on the current terms and any eligibility requirements. Some customers can receive their salary up to two days early. This depends on when the employer sends the payment.

Parameter	Details
Unique offering	One account for checking and savings, with access to SoFi’s loan and investment products.
Fees and interest	No monthly maintenance fee for Checking and Savings. Interest rates and eligibility requirements may change. Other SoFi products may have separate fees.
Account access	Website, mobile app, debit card, bill payments, transfers and eligible ATM access.
Best suited to	Customers who want their everyday bank account and other financial products from the same provider.

If you only need a savings account, compare SoFi’s current APY with rates from banks that focus mainly on savings. If you also want access to loans or investments, SoFi’s wider range of services may be more relevant.

Official details: SoFi Checking and Savings.

2. Chime

Chime offers a checking account for people who prefer to handle their banking through a phone. There is no monthly checking fee or minimum-balance fee. Customers can receive direct deposits, pay bills and use a debit card through the account.

Cash deposits need more planning. Chime accepts them at participating retailers, including Walgreens and Duane Reade, but the rules and fees depend on the location. Some stores accept deposits without a fee; others charge one. Limits may also apply, so check the details before you visit.

Chime also has a feature called SpotMe. Customers who meet its eligibility rules may receive coverage for certain debit-card purchases that exceed their available balance. The approved limit varies, and the feature does not cover every transaction.

Chime itself is a financial technology company, not a bank. Its partner banks provide the banking services. Eligible deposits may qualify for FDIC insurance through those banks, subject to the applicable requirements.

Parameter	Details
Unique offering	Mobile checking, early direct deposit for eligible customers and SpotMe coverage for qualifying accounts.
Fees and interest	No monthly checking fee or minimum-balance fee. Some cash deposits, ATM transactions and optional services may incur charges.
Account access	Mobile app, debit card, direct deposits, transfers and cash deposits at participating retailers.
Best suited to	People who receive money electronically and prefer to manage their account online.

Before you use Chime as your main account, check how you will deposit cash if you need that service. A nearby retailer may charge a fee, and not every location follows the same rules.

See Chime’s online banking details.

3. Ally Bank

Ally Bank gives customers ways to divide their savings into separate goals without opening a new account for each one. Its Savings Account includes digital buckets that let you set aside funds for an emergency, a holiday, an insurance bill or another expense.

Two other features help customers save automatically. Round Ups transfer the difference from eligible debit-card purchases into savings. Surprise Savings checks linked checking accounts for money that may be available to transfer.

Ally also offers a Spending Account for everyday transactions. Customers can use eligible ATM networks across the United States and receive up to $10 per statement cycle in reimbursements for fees charged by other ATMs nationwide. Ally also supports cash deposits at Walmart locations, subject to its current terms.

Parameter	Details
Unique offering	Digital savings buckets, automatic transfers and tools that help customers set money aside for specific goals.
Fees and interest	No monthly maintenance fee for the Spending Account or Savings Account. Interest rates vary by product and can change.
Account access	Mobile app, website, debit card, checks, bill payments and supported ATM networks.
Best suited to	People who want to organise savings and build a regular saving habit without managing several separate accounts.

Ally stands out for its savings tools rather than a single headline rate. Compare its current checking and savings rates separately, especially if you plan to keep a large balance in either account.

Explore Ally’s checking and savings accounts.

4. Capital One 360

Capital One 360 offers online banking alongside selected physical branches and Capital One Cafés. Customers can manage most transactions through the app or website and visit a location when they need in-person assistance.

The 360 Checking account has no monthly maintenance fee or minimum balance requirement. Customers can access more than 70,000 fee-free ATMs through Capital One and participating ATM networks. The account also supports early direct deposit for eligible customers and cash deposits at participating stores.

For savings, Capital One offers a separate product called 360 Performance Savings. Customers can arrange automatic transfers from checking to savings and keep money for bills separate from money they want to set aside.

Parameter	Details
Unique offering	Combines online banking with selected branches, cafés and a large fee-free ATM network.
Fees and interest	360 Checking has no monthly maintenance fee or minimum balance requirement. Check the current terms and APY for 360 Performance Savings separately.
Account access	Mobile app, website, debit card, participating ATMs, supported retail cash deposits and selected physical locations.
Best suited to	Customers who prefer online banking but still want the option of in-person assistance.

Capital One 360 is worth considering if a nearby branch or café matters to you. Check the locations first, because physical service is available only in selected areas.

Account details: 360 Checking and 360 Performance Savings.

5. Axos Bank

Axos Bank offers several checking products, so customers should compare the individual accounts before applying. Axos Checking covers everyday transactions, while Axos ONE combines checking and savings.

Axos Checking has no monthly maintenance fee or minimum balance requirement. The bank also advertises no overdraft fees and offers interest on checking balances under its published terms.

Axos ONE offers a different set of benefits, including promotional interest rates for customers who meet the relevant conditions. Those conditions may include qualifying deposits or a required average daily balance. Customers who cannot meet them should compare the standard rate rather than rely on the highest advertised offer.

Parameter	Details
Unique offering	Several checking account structures, including an option that combines checking and savings.
Fees and interest	Axos Checking has no monthly maintenance fee or minimum balance requirement. Rates and qualifying conditions differ by account.
Account access	Online and mobile banking, debit card and access to a broad ATM network. Axos advertises unlimited domestic ATM fee reimbursements for Axos Checking.
Best suited to	People who want to compare account options and can meet the conditions attached to their preferred product.

Axos may suit customers who want more choice than a standard checking account provides. Before you apply, check whether the account’s deposit and balance requirements match your normal finances.

See Axos checking accounts.

6. nbkc Bank

The nbkc Everything Account pays interest on checking balances. Customers can keep money ready for rent, groceries and bills while earning interest on eligible funds, rather than transferring everything into a separate savings account.

The account has no monthly fee. nbkc also provides access to more than 90,000 ATMs globally and reimburses up to $12 per month in out-of-network ATM fees. Customers who use fee-charging ATMs frequently should remember that the reimbursement has a limit.

The bank supports mobile check deposits, but its physical branch network is much smaller than those of major national banks. That may matter if you prefer in-person assistance or regularly deposit cash.

Parameter	Details
Unique offering	An interest-bearing checking account that keeps everyday funds accessible.
Fees and interest	No monthly account fee. Out-of-network ATM fee reimbursements are capped at $12 per month; check the current interest rate.
Account access	Online and mobile banking, mobile check deposits, debit card and ATM access. Physical branches are limited.
Best suited to	People who keep a regular balance in checking and want that money to earn interest.

The main question is whether the interest rate beats the return you could earn in a separate savings account. Compare the current APYs before deciding where to keep your money.

Full details: nbkc Everything Account.

7. American Express Rewards Checking

American Express Rewards Checking offers interest on eligible checking balances and Membership Rewards points on qualifying debit-card purchases. Customers earn one point for every $2 spent under the account’s rules. Eligible points can also go back into the checking account as deposits.

The account has no monthly fee, minimum opening deposit or minimum balance requirement. However, eligibility rules limit who can apply. American Express sets requirements for eligible cardholder status or existing relationships with certain American Express banking products.

The rewards may appeal to customers who already use Membership Rewards. If you rarely use the programme, focus on the interest rate, account access and other features instead.

Parameter	Details
Unique offering	Earns interest on checking balances and Membership Rewards points on eligible debit-card purchases.
Fees and interest	No monthly fee, minimum opening deposit or minimum balance requirement. Check the current APY and rewards terms.
Account access	American Express mobile app and website, account transfers, debit-card payments and eligible points redemption.
Best suited to	Eligible American Express customers who value both checking account interest and Membership Rewards points.

Check the eligibility requirements before you apply. The account is not available to every applicant, and the rewards may offer more value to existing programme members.

Official details: American Express Rewards Checking.

8. Bask Bank

Bask Bank puts most of its attention on savings. Customers can open an Interest Savings Account, a Mileage Savings Account or a certificate of deposit (CD). It does not offer the same range of everyday banking services as a provider with a full checking account.

The Interest Savings Account pays cash interest and has no monthly account fee or minimum balance requirement. Its APY can change, so check the current rate before you deposit money.

The Mileage Savings Account offers a different benefit. Eligible customers earn American Airlines AAdvantage miles under the account’s terms rather than ordinary cash interest. This may appeal to people who fly with American Airlines, but the miles’ actual value depends on how and when they use them.

Bask also offers CDs for customers who can leave their money in the account for a set term. An early withdrawal may lead to a penalty, so check the terms if you might need the money before the CD matures.

Parameter	Details
Unique offering	A choice between cash interest, American Airlines AAdvantage miles and fixed-term CDs.
Fees and interest	The Interest Savings Account has no monthly fee or minimum balance requirement. Rates, CD terms and early withdrawal penalties vary.
Account access	Online account management for savings products and CDs; limited focus on everyday checking services.
Best suited to	People who already have a checking account elsewhere and want a separate savings account or CD.

Bask may suit you if you want to keep savings away from the money you use for bills and daily purchases. Compare the cash interest rate with the potential value of the airline miles before you decide which account to use.

Visit Bask Bank.

9. Live Oak Bank

Live Oak Bank focuses on personal savings accounts and CDs. Its personal savings account has no monthly maintenance fee or minimum opening balance. Customers who can leave their money untouched for a set period can also consider one of its CDs.

The savings account has a variable APY, which means the bank can change the rate. A CD has a set term and its own rate, but an early withdrawal may trigger a penalty. CD deposit requirements also vary, so read the terms before you open an account.

You do not need to move all your banking to Live Oak to use its savings products. For example, you could keep your salary and bill payments at your current bank and use a Live Oak account for your emergency fund.

Parameter	Details
Unique offering	Personal high-yield savings accounts and CDs for customers who want a separate place for their deposits.
Fees and interest	The personal savings account has no monthly maintenance fee or minimum opening balance. APYs and CD terms vary.
Account access	Online account management for savings and CD products; fewer everyday checking options than some competitors.
Best suited to	People who want a separate savings account or CD and do not need a full checking account from the same bank.

Live Oak may work well if your current bank already handles your daily payments. Before you move your savings, compare its current rate and CD terms with those of other banks.

See Live Oak’s personal banking options.

10. Varo Bank

Varo combines checking and savings in a mobile banking service. Customers can use the checking account for regular payments and keep savings separate. Its Save Your Pay and Save Your Change features can also transfer money into savings automatically.

Varo’s higher savings rate comes with conditions. Under its published terms, customers may qualify for a higher APY on the first $5,000 in savings if they receive at least $800 in qualifying direct deposits and maintain positive month-end balances in both their Varo Bank Account and Varo Savings. The higher rate applies the following month, while money above $5,000 earns the standard rate.

Varo advertises no monthly account fees and supports cash deposits at participating retail locations. Customers should check the available locations and any third-party charges before relying on this service.

Varo is a bank itself, unlike financial technology companies that provide banking through partner institutions. Eligible deposits receive FDIC insurance subject to the applicable limits and rules.

Parameter	Details
Unique offering	Mobile checking and savings with automatic transfers through Save Your Pay and Save Your Change.
Fees and interest	No monthly account fees. A higher savings APY requires qualifying direct deposits and positive month-end balances; the higher rate applies only to the first $5,000 under the stated terms.
Account access	Mobile app, debit card, transfers, direct deposits and cash deposits at participating retail locations.
Best suited to	People who want to manage daily expenses and savings through one app and can meet the higher-rate requirements.

Varo may work well if you prefer mobile banking and want help setting money aside. If your income varies from month to month, compare the standard APY with other savings accounts before you open one.

Check the latest terms at Varo Bank.

Frequently Asked Questions

1. Which digital bank is best in the USA?

The answer depends on what you need from your account. SoFi offers banking alongside other financial services, Chime focuses on mobile checking, Ally provides savings tools, and Capital One 360 combines online access with selected physical locations. Compare the features that matter most to you, including fees, interest rates, ATM access and cash deposits.

2. Are digital banks safe?

Digital banks can provide secure banking services, but check which institution holds your deposits and whether the money qualifies for FDIC insurance. Use a strong password, enable available security features and set up account alerts to help you spot unfamiliar activity.

3. Are online bank accounts FDIC-insured?

Eligible deposits at FDIC-insured banks generally receive coverage of up to $250,000 per depositor, per insured bank, for each ownership category. The exact coverage depends on the account structure and applicable rules. If a financial app uses a partner bank, read its deposit disclosures to identify the institution that holds your money.

4. Can I open an online bank account without a minimum deposit?

Yes. Some online checking accounts have no minimum opening deposit, while others have no minimum balance requirement. Chime checking, Capital One 360 Checking and American Express Rewards Checking advertise such features. Check the specific account terms before you apply, because opening requirements and ongoing balance rules can differ.

5. Which digital banks are good for savings?

Bask Bank and Live Oak Bank focus on savings accounts and CDs. Ally, SoFi and Varo also offer savings alongside other banking services. Compare current APYs, withdrawal conditions and eligibility rules. If you may need your money quickly, pay attention to any early withdrawal penalties or other access restrictions.

6. Do digital banks charge monthly fees?

Many digital banks offer accounts without monthly maintenance fees. Examples include Chime, Ally’s Spending Account, Capital One 360 Checking and SoFi Checking and Savings. Other charges may still apply to certain ATM withdrawals, wire transfers or third-party cash deposits. Review the fee schedule before opening an account.

7. Can I deposit cash into a digital bank account?

Yes, some providers accept cash through participating retailers. Chime, Varo and Ally offer cash-deposit options, although their locations, fees and limits differ. Check the provider’s instructions and confirm that a suitable location operates near you.

8. Which digital banks pay interest on checking accounts?

nbkc’s Everything Account and American Express Rewards Checking pay interest on eligible checking balances. Axos also offers interest-bearing checking options. Compare current APYs and check whether you must meet deposit or balance requirements to receive a particular rate.

9. Can a digital bank replace my regular bank?

Yes, if the account supports your usual transactions. Check direct deposits, bill payments, transfers, ATM access, cash deposits and customer support before switching. You can also keep your current checking account and open a separate online savings account. This lets you use different providers for daily spending and longer-term savings.

10. What should I check before opening an online bank account?

Review the monthly fees, current APY, minimum deposit requirements and ways to access cash. Check the conditions for promotional rates, transfer options, customer support and FDIC insurance as well. The account should fit your actual routine. A high advertised rate may not help if you cannot meet the qualifying requirements or access your money when you need it.