Bankrate's best online banks of 2026, according to what they do best

The way people bank has changed. Branch visits are down. App usage is up. And for millions of savers, the question is no longer whether to bank online — it's which online bank to choose.

The appeal is straightforward. Online banks carry lower overhead than their brick-and-mortar counterparts and typically pass those savings along to customers in the form of higher yields on savings accounts, fewer fees, and more accessible account minimums. While traditional giants such as Chase and Bank of America $BAC pay a mere 0.01% annual percentage yield (APY) on savings, the best online banks are offering rates north of 4% — sometimes with no minimum balance required at all.

But rates are only part of the story. The best online banks also deliver the full suite of conveniences customers expect: mobile check deposit, robust ATM networks, digital bill pay, and round-the-clock customer service. Some go further, offering built-in savings tools, rewards on everyday spending, or — in at least one notable case — a banking model built around environmental sustainability.

The tradeoffs are real, too. Online banks can't always handle cash deposits easily, and there's no teller window to walk up to when something goes wrong. Some product lineups are narrower than what a full-service bank might offer. For customers who want the best of both worlds, financial planners often suggest keeping savings at an online bank for the higher yields while maintaining a local account for everyday needs.

To build this list, Bankrate reviewed more than 100 banks and credit unions, scoring them on product offerings, annual percentage yields, fees, minimum deposit requirements, ATM access, and digital features. Each of the highest-rated institutions have been selected for a specific strength.

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LendingClub's rewards checking account pays 1% unlimited cash back on debit purchases when direct deposit requirements are met, and earns interest on balances of $2,500 or higher. The bank charges no maintenance fees and offers unlimited ATM surcharge rebates from other banks. Customers can also withdraw cash fee-free from more than 40,000 MoneyPass ATMs.

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Discover $DFS is better known for credit cards, but it has quietly built one of the stronger online banking lineups around, offering savings, checking, money market accounts, and CDs with no monthly fees and no minimum deposit requirements. Its checking account also earns cash back on up to $3,000 in debit card purchases per month, and customers have fee-free access to more than 60,000 ATMs.

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American Express $AXP National Bank offers high-yield CDs, a savings account, and a checking account — all with no minimum balance requirements and no monthly maintenance fees. There is one condition worth noting: opening a checking account requires holding an American Express credit card for at least five days. Once open, the account earns interest on balances and rewards points on debit purchases.

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EverBank offers competitive rates across savings, money market, and checking accounts, with most accounts requiring a minimum deposit of either $0 or $100. For savers whose deposits exceed the FDIC's $250,000 insurance limit, EverBank's CDARS CD account distributes funds across its bank network to broaden coverage — while keeping the customer's relationship with a single institution. The bank also reimburses up to $15 per month in out-of-network ATM fees and serves customers in all 50 states.

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Ally consistently delivers above-average APYs across its product lineup, with no minimum deposit requirements — including on CDs — making it one of the most accessible banks on this list. Its savings account lets customers organize funds into goal-based "buckets" for a practical layer of money management. Ally has also abolished overdraft fees and offers fee-free access to more than 75,000 ATMs, with up to $10 per statement cycle in rebates for out-of-network withdrawals.

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Credit unions can be hard to join, but Alliant is an exception. Membership is open to people affiliated with certain organizations or those who live or work in parts of Illinois. Anyone else can qualify by becoming an Alliant Credit Union Foundation digital inclusion advocate. The credit union will even cover the $5 foundation contribution that it requires to join. Checking account holders get access to more than 80,000 fee-free ATMs and up to $20 per month in ATM surcharge rebates. The credit union also offers dedicated accounts for teens and younger children.

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Quontic's network of 90,000 ATMs is among the largest of any online bank on this list, complemented by support for Apple $AAPL Pay, Google $GOOGL Pay, Samsung Pay, and Zelle. The bank's high-interest checking account carries one of the stronger APYs available on a checking product, and most accounts can be opened with just $100. Deposit accounts carry no monthly service fees or overdraft fees.

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Bask Bank, the online subsidiary of Texas Capital Bank, pairs a competitive-yield interest checking account with two distinct savings options: a high-yield savings account and a Mileage Savings Account that earns 1.75 American Airlines AAdvantage miles for every $1 saved annually. Most accounts carry no monthly fees or minimum balance requirements, though CDs require a $1,000 minimum deposit. Checking account holders also have access to more than 55,000 Allpoint ATMs fee-free.

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Forbright Bank is the rare financial institution with a clearly defined environmental mission: It will not directly finance fossil fuel extraction or infrastructure, per its 2024 Sustainability Report. Its online deposit products are centered on savings, including CDs and a no-fee, no-minimum savings account. The bank's checking and money market accounts, which carry competitive yields, are available only at branches.

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Bank5 Connect is the online-only arm of Massachusetts-based BankFive, offering a high-interest checking account, a savings account, and CDs that all earn well above national averages. A $100 minimum balance is all that's needed to earn the top checking APY, and the bank charges no monthly maintenance fees across its deposit products. Customers pay no ATM fees regardless of which machine they use, and the bank refunds up to $15 per statement cycle in operator-charged fees: There's just one asterisk: Residents of Massachusetts and Rhode Island are not eligible to open an account.