Best Checking Accounts for Online Banking
By: Conor Keenan, AWMA® | Updated: October 28, 2026
Accredited Wealth Management Advisor® designee with 10+ years covering banking & investing. His work has appeared in The Wall Street Journal, Reuters & Yahoo Finance.
Editorial Independence: Opinions, recommendations, and reviews are our own. Partner commissions help keep our site free. They do not influence our editorial content.
SoFi
Checking & Savings
Best for low fees, everyday banking benefits & competitive savings
With qualifying activities.
- 0.50% checking APY — interest on your checking balance.
- $0 minimum to open
- No monthly service fees3
- No overdraft fees3
- Get paid up to two days early6
- 55,000+ fee-free ATMs5
- Limited-Time APY Offer: +1.10% boost to 4.40% APY for up to six months. Terms apply.8
- Bonus Offer: Earn $50 or $400 with eligible direct deposit. Terms apply.1
- Bonus paid within 7 business days after the 25-day period. SoFi tracks Eligible Direct Deposits for 25 calendar days beginning with your first qualifying deposit. If you qualify, the bonus is deposited within 7 business days after the evaluation period ends.1
SoFi Bank, N.A., Member FDIC
Other accounts with no monthly maintenance fee
| Account | Monthly fee | Checking APY | Overdraft fee | Best for | Key limitation | Action |
|---|---|---|---|---|---|---|
No monthly fee Capital One 360 Checking |
$0 | 0.10% APY* | $0; eligibility rules apply to No-Fee Overdraft | Large ATM network with some in-person access | Lower checking APY than SoFi; limited full-service branch footprint | Read review of Capital One 360 Checking |
A strong fee-free alternative for users who want a large ATM network and occasional access to Capital One branches or Cafés.
Official terms: Product page · account disclosures | ||||||
No monthly fee Ally Bank Spending Account |
$0 | 0.10% below $15,000; 0.25% at $15,000+ | $0; CoverDraft may cover $100 or up to $250 with qualifying direct deposit | ATM access and a larger overdraft cushion | Lower checking APY than SoFi and no physical branches | |
A strong online account for ATM access and overdraft protection, but with a lower checking yield than SoFi.
Official terms: Product and rate page | ||||||
No monthly fee Chime Checking Account |
$0 | No checking interest advertised | $0; SpotMe starts at $20 and may rise to $200+ for eligible members | Early pay and mobile-first banking | Chime is a fintech, not a bank; out-of-network withdrawals cost $2.50 plus possible operator fees | Read review of Chime Checking Account |
A mobile-first option with early pay and no monthly or overdraft fees.
Official terms: Checking account page and disclosures | ||||||
No monthly fee Varo Bank Account |
$0 | No checking interest advertised | $0; transactions are generally declined when funds are insufficient | Free cash deposits at CVS and early direct deposit | No checking interest; $3.50 out-of-network and international ATM fee, plus possible operator fees | |
A nationally chartered online bank account with early pay and free cash deposits at CVS.
Official terms: Varo Bank Account | ||||||
No monthly maintenance fee BMO Smart Advantage Checking |
$0 | None | $20 per paid item when the account is overdrawn by more than $20; up to three per business day | Branch access without a monthly maintenance fee | $25 minimum opening deposit, no interest and a $3 paper-statement fee unless waived | |
A branch-access account with no monthly maintenance fee, although other account fees remain.
Official terms: Product page · August 2026 fee schedule | ||||||
No monthly fee Huntington Asterisk-Free Checking |
$0 | None | $15 per item after the $50 Safety Zone and 24-Hour Grace; up to three per day | Regional branch banking with no monthly fee | Regional footprint and $3.50 non-Huntington ATM fee; no interest | Read review of Huntington Asterisk-Free Checking |
A no-monthly-fee branch account for users inside Huntington’s regional service footprint.
Official terms: Product page · personal account charges | ||||||
Popular accounts with fee-waiver requirements
| Account | Monthly fee | Checking APY | Overdraft fee | Best for | Key limitation | Action |
|---|---|---|---|---|---|---|
Fee can be waived Bank of America Advantage Plus Banking |
$12 or $0 with qualifying activity$0 with a qualifying $250 direct deposit, $1,500 minimum daily balance, or qualifying BofA Rewards status. | None | $10 per paid item; no more than two per day | Existing Bank of America relationship customers | $100 opening deposit; monthly-fee requirements; $2.50 U.S. non-Bank of America ATM fee | Read review of Bank of America Advantage Plus Banking |
Most relevant to customers who already bank with Bank of America and can reliably meet a monthly-fee waiver.
Official terms: August 2026 Clarity Statement | ||||||
Fee can be waived Chase Total Checking |
$15 or $0 with qualifying activity$0 with $500+ qualifying electronic deposits, $1,500 beginning-of-day balance, $5,000 qualifying linked balances, or another qualifying relationship. | None | $34 per paid item; no more than three per business day; Chase Overdraft Assist may prevent the fee | National branch access | Monthly-fee requirements, no interest and potentially high overdraft fees | Read review of Chase Total Checking |
A familiar option for customers who prioritize a national branch network and can meet a fee waiver.
Official terms: Product page · current account fees | ||||||
Fee can be waived Wells Fargo Everyday Checking |
$15 or $0 with qualifying activity$0 with $500+ qualifying electronic deposits, $1,500 minimum daily balance, $5,000 qualifying deposit/investment balances, qualifying age status, or eligible military direct deposit. | None | $35 per paid item; no more than three per business day; small-item and small-shortfall exceptions apply | Branch access and a widely used mobile app | Monthly-fee requirements, no interest and potentially high overdraft fees | Read review of Wells Fargo Everyday Checking |
A branch-based account for customers who can reliably meet one of several monthly-fee waivers.
Official terms: Product page · account fee summary | ||||||
About this comparison: “No monthly fee” means no recurring maintenance fee. Other fees may apply, including ATM use, paper statements, wires, transfers and cash deposits. APYs are variable. Research supplied September 10, 2026; confirm current institution terms before opening an account.
Chime: Chime is a financial technology company, not a bank, and is not FDIC-insured. Banking services are provided by The Bancorp Bank, N.A. or Stride Bank, N.A., Members FDIC. Conditions apply for pass-through deposit insurance.
Customers Also Viewed These High Yield Savings Accounts:
SoFi®
Checking and Savings
Best for a cash bonus with qualifying direct deposit
With qualifying activities.
- $0 minimum to open
- Limited Time Offer: +1.10% boost to 4.40% for up to six months. Terms apply.8
- Bonus Offer: Earn $50 or $400 with direct deposit, terms apply1
- No monthly service fees3
SoFi Bank, N.A., Member FDIC
CIT Bank®
Platinum Savings
Good for higher balances
Earn the advertised APY on balances of $5,000 or more.
- $5,000 balance for advertised APY
- No monthly service fees
- Mobile app and online banking
- Remote check deposit and easy transfers
- Terms apply
Member FDIC
American Express®
High Yield Savings Account
Best for a familiar brand with no minimum balance
- $0 minimum to earn APY1
- $0 minimum to open2
- 24/7 customer service
- Backed by the World-Class Service & Reliability of American Express®
Member FDIC
Synchrony®
High Yield Savings
Best for no minimum balance or monthly fees
Interest compounded daily.
- $0 minimum initial deposit
- No monthly fees
- Trusted Fortune 500 Bank with Nationwide Reach Serving Millions of Customers
- Optional ATM card and reimburses up to $5 per month in out-of-network ATM fees.
CIT Bank®
Savings Connect
Best for online savings with no monthly balance requirement
No minimum monthly balance is required.
- $100 minimum opening deposit
- No monthly service fees
- Mobile app and online banking
- Remote check deposit and easy transfers
Member FDIC
The State Exchange Bank
High Yield Savings through Raisin
Best for a very low opening deposit through Raisin
Available nationwide through the Raisin platform.
- $1 minimum initial deposit
- No monthly fees
- Interest compounded daily
- Established in 1901; terms apply
Member FDIC
Chase Bank
Chase Savings
Included as a traditional-savings comparison
Substantially below the high-yield accounts above.
- $300 balance to avoid the service fee
- Monthly service fee up to $5
- Limit of six withdrawals per statement period
- Withdrawal overage fees up to $15 per month
What to Look for in a Checking Account
It's always wise to compare your options when opening a new checking account.
Here are the top features to look for and compare:
1. Ease of Setting Up
Your checking account should be where you setup your direct deposit and where you pay bills from. Because of this, it needs to be easy to open an account, set up your direct deposit, and set up payees to pay bills.
All of the checking accounts we recommend have these features.
2. Monthly Fees
Monthly fees can eat into your paycheck fast. You should avoid them as much as possible. That’s why we recommend you focus on no monthly fee checking accounts to keep as much as your pay check as possible.
3. Required Initial Deposit
Does the bank require a large initial deposit? Are you comfortable depositing that much right away? These days, most banks will allow you to open an account with as little as $1 or even $0 dollars.
Some banks may offer a higher yield with a higher initial deposit. You’ll just need to decide whether that higher initial deposit will be worth any increase in yield.
4. Minimum Balance Required
Minimum balance required to maintain your account is another feature to keep a close eye on.
Most of the banks we recommend do not have large minimum balance requirements, if any minimum balance requirement at all.
The accounts we do recommend that have a higher minimum required balance are usually CD accounts, which you don’t want to open unless you want to lock up your money for 6 months, 12 months or longer.
5. Accessing Your Money
Accessing your money is very important with any checking account.
Almost all of the checking accounts we recommend come with a mobile app that gives you 24/7 access to your accounts.
Additionally, banks will issue a debit card for your checking account, that you can use physically, virtually, or contactless payments through your wallet app.
6. Transferring Your Money
As important as it is to access your accounts, you'll likely need to transfer money in and out of your checking account often.
That's why its important to pay attention to features like transfer or peer to peer payments with Zelle®.
7. Mobile Check Deposit
If you can't set up direct deposit, or if sometimes you get paper checks having mobile check deposit will allow you to deposit checks into your account from anywhere.
Most checking accounts we recommend comes with mobile check deposit.
8. Overdraft Fees
Things happen. Sometimes we pay a bill or make a purchase that is more than the money in our accounts. Normally, this would incur an overdraft fee, usually these fees range betwen $25 - $50.
Most of the checking accounts we recommend do not have overdraft fees, because the last thing you need when you don't have enough money in your account is another fee to pay.
With the above in mind, now you're more confident to choose the right checking account for you.
Important information
Product disclosures
Loading applicable product disclosures…