Spending rewards, savings bonuses, or bank promotions can be major deciding factors when opening a new online account. Compare our top options here.
Earn 7x the national checking rate¹
Earn 7x the national checking rate¹Bank promotions usually come in the form of a one-time perk of a cash bonus for opening a new bank account. In order to qualify for a bank promotion you might be required to deposit a certain amount of money into your account per month for a number of months or maintain a minimum balance. Bank promotions, or reward banking, are powerful incentives for choosing one account over another.
It's no surprise that 80% of Americans would rather bank digitally than visit brick-and-mortar banks. Online banking is simple, fast, convenient, and can be done anywhere, anytime. Not only do you have several banking options at your fingertips, but online banks provide all, if not more, convenient resources than traditional banks. If you are new to the idea of taking your checking and savings account fully virtual, this guide will answer all of your questions and put your mind at ease.
Sponsored offer
| Bank | APY | 24/7 Support | Explore |
|---|---|---|---|
 | 3.50% | Yes | Visit Site |
*Chime is a financial technology company, not a bank. Banking services provided by, and debit card issued by, The Bancorp Bank or Stride Bank, N.A.; Members FDIC.
Q: What Are the Downsides of Having Online Banks?
A: The biggest drawback of online banking is the liquidity of your money. Yes, you can easily use an ATM to pull out a few hundred dollars, but if you need to access $700 or more same-day, that can be an issue. One way to get around this is to choose an online bank with traditional bank locations too.
Q: What’s the Difference Between Net Banking and Mobile Banking?
A: Mobile banking is a convenient add-on for most banks. Depending on your bank, mobile banking might be limited, but most apps should allow for check deposit, account monitoring and quick bill pay. Net banking, or online banking, can refer to using your bank’s website on a personal computer rather than banking through an app. It can also refer to online-only banking where you perform all of your banking functions and purchase products via the web.
Q: Are Online Banks Safe?
A: Yes! Online banks, like traditional banks, are FDIC-insured up to $250,000. However, all banks and even credit cards with online access can be vulnerable to fraudulent conduct if a hacker gets to your account.
The easiest way to protect your account is to avoid clicking on links in any emails you receive about your bank. Scammers are notorious for sending emails that look like they came from your bank and usually make you want to click a link quickly. If you are unsure if an email is real, check the sender’s email address, not just the name. Then close the email and open up a new window and access your online bank account.
Q: How Can I Secure My Online Bank Account?
A: Choosing a unique and strong password is an excellent start to keeping your online bank account secure. If possible, enable Two-Factor Authentication. It takes longer to sign in, but offers another layer of security. Another essential step to keeping your bank account secure is to never log in to your bank account through someone else’s computer or through public Wi-Fi. If you need to check your bank account while at a local coffee shop, do it with your phone either through phone data or the app.
Online banks offer a fleet of services to help you stay on top of your money management and achieve your financial goals. Here are features you can expect no matter which online bank you choose:
Now is the time to reap the benefits of online banking. Even if you just use an online bank for a savings account, you will quickly see the perks of higher APY and have many money market accounts to select.
Chime* is an award-winning financial app and debit card. With Chime, you can choose a spending and savings account and rest easy when reaching your financial goals while knowing your money is FDIC-insured.
*Chime is a financial technology company, not a bank. Banking services provided by, and debit card issued by, The Bancorp Bank or Stride Bank, N.A.; Members FDIC.
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SoFi is an online bank founded in 2011. It provides a variety of banking services, including credit cards, mortgages, investments, loans, and of course, bank accounts. SoFi Checking and Savings provides a competitive APY, and comes with no fees.
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Discover® Bank dates back to 1911 and offers a range of services to customers, including bank accounts, credit cards, loans, mortgages, and more. The Discover Cashback Debit is a no-fee checking account that offers 1% cash back. (See website for details.)
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1. Up to $400 Bonus Tiered Disclosure
New and existing Checking and Savings members who have not previously enrolled in Direct Deposit with SoFi are eligible to earn a cash bonus of either $50 (with at least $1,000 total Eligible Direct Deposits received within 25 calendar days of your first Eligible Direct Deposit of $1 or more) OR $400 (with at least $5,000 total Eligible Direct Deposits received within 25 calendar days of your first Eligible Direct Deposit of $1 or more). Cash bonus amount will be based on the total amount of Eligible Direct Deposit received within 25 calendar days of your first Eligible Direct Deposit of $1 or more. If you have satisfied the Eligible Direct Deposit requirements but have not received a cash bonus in your Checking account, please contact us at 855-456-7634 with the details of your Eligible Direct Deposit. Direct Deposit Promotion begins on 5/15/2026 and will be available through 12/31/26. See full bonus and annual percentage yield (APY) terms at www.sofi.com/banking/checking-offer
2. APY disclosures
Annual percentage yield (APY) is variable and subject to change at any time. Rates are current as of 5/28/26.. There is no minimum balance requirement. Fees may reduce earnings. Additional rates and information can be found at https://www.sofi.com/legal/banking-rate-sheet
3. Fee Policy
We do not charge any account, service or maintenance fees for SoFi Checking and Savings. We do charge a transaction fee to process each outgoing wire transfer. SoFi does not charge a fee for incoming wire transfers, however the sending bank may charge a fee. Our fee policy is subject to change at any time. See the SoFi Bank Fee Sheet for details at sofi.com/legal/banking-fees/.
4. Additional FDIC Insurance
SoFi Bank is a member FDIC and does not provide more than $250,000 of FDIC insurance per depositor per legal category of account ownership, as described in the FDIC’s regulations. Any additional FDIC insurance is provided by the SoFi Insured Deposit Program. Deposits may be insured up to $3M through participation in the program. See full terms at SoFi.com/banking/fdic/sidpterms. See list of participating banks at SoFi.com/banking/fdic/participatingbanks.
5. ATM Access
We’ve partnered with Allpoint to provide you with ATM access at any of the 55,000+ ATMs within the Allpoint network. You will not be charged a fee when using an in-network ATM, however, third-party fees may be incurred when using out-of-network ATMs. SoFi’s ATM policies are subject to change at our discretion at any time.
6. Early Access to Direct Deposit Funds
Early access to direct deposit funds is based on the timing in which we receive notice of impending payment from the Federal Reserve, which is typically up to two days before the scheduled payment date, but may vary.
7. Overdraft Coverage
Overdraft Coverage is a feature automatically offered to SoFi Checking and Savings account holders who receive at least $1,000 or more in Eligible Direct Deposits within a rolling 31 calendar day period on a recurring basis. Eligible Direct Deposit is defined on the SoFi Bank Rate Sheet, available at https://www.sofi.com/legal/banking-rate-sheet. Members enrolled in Overdraft Coverage may be covered for up to $50 in negative balances on SoFi Bank debit card purchases only. Overdraft Coverage does not apply to P2P transfers, bill payments, checks, or other nondebit card transactions. Members with a prior history of unpaid negative balances are not eligible for Overdraft Coverage. Eligibility for Overdraft Coverage is determined by SoFi Bank in its sole discretion. Members can check their enrollment status, if eligible, at any time by logging into their account through the SoFi app or on the SoFi website.
8. 0.70% Savings APY Boost
Earn up to 3.80% Annual Percentage Yield (APY) on SoFi Savings with a 0.70% APY Boost (added to the 3.10% APY) for up to 6 months. Open a new SoFi Checking & Savings account with Eligible Direct Deposit by 12/31/26. Rates variable, subject to change. Terms apply at sofi.com/banking#2. SoFi Bank, N.A. Member FDIC.
Additional FDIC Insurance - SoFi Bank is a member FDIC and does not provide more than $250,000 of FDIC insurance per depositor per legal category of account ownership, as described in the FDIC’s regulations. Any additional FDIC insurance is provided by the SoFi Insured Deposit Program. Deposits may be insured up to $3M through participation in the program. See full terms at SoFi.com/banking/fdic/sidpterms. See list of participating banks at SoFi.com/banking/fdic/participatingbanks.
Chime is a financial technology company, not a bank. Banking services for the Chime Checking Account are provided by The Bancorp Bank, N.A. or Stride Bank, N.A., Members FDIC. The Chime Visa® Debit Card is issued by The Bancorp Bank, N.A. or Stride Bank, N.A. pursuant to a license from Visa U.S.A. Inc. and may be used everywhere Visa debit cards are accepted. The secured Chime Visa® Credit Card is issued by The Bancorp Bank, N.A. or Stride Bank, N.A. pursuant to a license from Visa U.S.A. Inc. and may be used everywhere Visa credit cards are accepted. Please see the back of your Card for its issuing bank.
Chime is not FDIC-insured. The Bancorp Bank, N.A. and Stride Bank, N.A. are the FDIC-insured members. Deposit insurance covers the failure of an insured bank. Certain conditions must be satisfied for pass-through deposit insurance coverage to apply.
*Limited time only. Terms apply, must open the new account and complete qualifying activities to earn up to $350.00 in rewards. Link to full terms can be found at https://www.chime.com/join/promos/intro-offer-v2b/#terms.
‡SpotMe® on Credit is an optional, no interest/no fee overdraft line of credit tied to the Secured Deposit Account available to qualifying members with an active Chime Card Account. To qualify for the SpotMe on Chime Card service, you must receive $200 or more in qualifying direct deposits to your Chime Checking Account each month and have activated your physical secured Chime Visa® Credit Card or Chime Visa® Debit Card.
Qualifying members will be allowed to overdraw their Secured Deposit Account up to $20, but may later be eligible for a higher limit of up to $200 or more based on Chime account history, direct deposit frequency and amount, spending activity and other risk-based factors. The SpotMe on Chime Card Limit will be displayed within the Chime mobile app and is subject to change at any time, at Chime's or its banking partners' discretion. Although Chime does not charge any overdraft fees for SpotMe on Chime Card, there may be out-of-network or third-party fees associated with ATM transactions and fees associated with OTC cash withdrawals. SpotMe on Chime Card won't cover non-card transactions. Spot Me on Chime Card Terms and Conditions.
^Early access to direct deposit funds depends on the timing of the submission of the payment file from the payer. We generally make these funds available on the day the payment file is received, which may be up to 2 days earlier than the scheduled payment date.
1. We give access to direct deposits from employer & government payers on the day we receive them, typically up to 2 days earlier than your scheduled pay date.
2. The Varo Line of Credit (VLOC) is a short term loan with credit limits ranging from $600 - $2000. A flat fee of $60 to $400 is assessed with each advanced based on the amount. Once qualified your credit limit may fluctuate based on a variety of factors. You may only take on VLOC advance out at a time. Eligibility and/or credit limit information is available in the Varo App. Quals apply.
3. Varo Believe is a secured credit card designed to help you build credit; however, a variety of factors impact your credit and not all factors are equally weighted. You must add money before using, money added sets the spending limit. Funds spent are held in your Varo Believe Secured Account to pay off any balance in full monthly, when due. Quals apply. The Varo Visa® Believe Card is issued by Varo Bank, N.A. pursuant to a license from Visa U.S.A. Inc
OnePay is a financial technology company, not a bank. Builder Cards through OneProgress Services LLC (NMLS ID 2460509) are issued by banking partners Coastal Community Bank or Lead Bank, Members FDIC, pursuant to a license by Mastercard® International Incorporated.
1. 3.35% annual percentage yield (APY) applies to the Savings balance of OnePay deposit accounts that have either (i) received $500+ of Direct Deposits in the current or previous month or (ii) have a balance of $5,000+ at the end of the previous month. 3.35% APY is also earned on Pay Autosave balances without deposit or balance requirements. 3.35% APY is limited to a total Savings balance of up to $250,000. All other Savings balances will earn 1.00% APY. APYs are as of 5/13/2026, but may change at any time before or after account opening.
2. Only available to customers who either (i) received $500+ in direct deposits or (ii) had a total balance of $5,000+ at the end of the previous month. Cash back is earned as OnePay Points, redeemable into a OnePay deposit account or other available options. You must select your cash back category in the OnePay app monthly and you begin earning on the date it is selected. Eligible purchases are based on MCC. Individual reward details can be found in the OnePay app. For certain reward offers utilizing the OnePay CashRewards Card, and third-party cards linked in the OnePay Wallet, purchases must be made using the physical card. See terms at onepay.com/rewards-terms.
3. Fee-Free Overdraft is available to OnePay deposit accounts that have either (i) received Direct Deposits totaling $500+ in the current or previous month, or (ii) have a balance of $5,000+ at the end of the previous month. You must be 18 or older. When on, Savings Backup will be used before Fee-Free Overdraft. Overdraft balance is due right away. Eligible transactions are at the discretion of OnePay and may exclude certain transactions (e.g., bill pay, global transfers). See details.
4. Fee-free Allpoint ATM withdrawal: For all other ATM transactions, the Cash Out fee will apply and third-party ATM fees may be incurred.
5. Early pay: Direct Deposit is required. Funds may be available up to 2 days in advance, depending on when your employer sends paycheck data.
6. Builder Card is designed to help you build credit by reporting your Builder Card activity to TransUnion, Experian, and Equifax, unless you opt out. Any changes to your credit score are independently determined and based on your overall financial behavior. Results may vary and are not guaranteed. Transactions using your virtual debit card are not reported. See Licenses: https://www.onepay.com/legal/licenses.
*You will not be eligible for the offer if you or any signer on the new account has an existing PNC Bank consumer checking account, or have closed an account within the past 12 months, or if you have been a primary signer on a consumer checking account that has received a PNC promotional premium in the past 24 months. If multiple accounts are opened with the same signers, only one account will be eligible for the premium. Trust, Estate, and other specialty titled accounts are excluded from this offer.You may earn a $400 reward if you open a new Virtual Wallet with Performance Select or a $100 reward if you open new Virtual Wallet and meet all qualifying conditions. After you open a checking product, you must remain in that product to receive the corresponding reward; changing your checking product after account opening could result in your offer eligibility, terms, and corresponding reward amount changing.Offer is valid 2/27/2026 through 5/28/2026 and may be extended, modified, or discontinued at any time and may vary by market. PNC Bank may have other checking offers with different terms.To receive the reward:1) Open a new, eligible PNC checking product online via the application links on this page. 2) Set up and receive total qualifying direct deposit(s) within the first 60 days. A qualifying direct deposit for this offer is defined as a recurring direct deposit of a paycheck, pension, Social Security, or other regular income electronically deposited by an employer or an outside agency into the Spend account. The total amount of all qualifying direct deposits received into your Spend account must be at least $500 for Virtual Wallet or $5,000 for Virtual Wallet with Performance Select. Credit card cash advance transfers, wire transfers, person-to-person transfers, transfers from one account to another, or deposits made at a branch, ATM, mobile device or through the mail do not qualify as qualifying direct deposits.The reward will be credited to the eligible account 60–90 days after all conditions have been met and identified as “Credits Check Reward” on your monthly statement. The eligible account must remain open to receive the reward. The value of the reward may be reported on the appropriate Internal Revenue Service (IRS) forms and may be considered taxable income to you. Please consult your tax adviser.Visit PNC.com/locator to find a PNC or Partner ATM near you where PNC customers can access money fee-free. Partner ATMs are not owned by PNC and may be limited to cash withdrawal functionality.Virtual Wallet with Performance Select includes no charge for using other banks' domestic or international ATMs and up to $10 fee reimbursement per statement cycle for other banks' ATM surcharge fees.Low Cash Mode is only available on the Spend account of your Virtual Wallet product.
UP TO $500 OFFER FOR ADVANTAGE PLUS AND ADVANTAGE RELATIONSHIP ACCOUNTS
Offer is limited to individuals who have not owned or co-owned a Bank of America personal checking account within the last twelve (12) months. Fiduciary accounts (e.g., trusts), Bank of America Advantage SafeBalance Banking®, Bank of America Advantage SafeBalance Banking® for Family Banking accounts, and business accounts are not eligible for this offer. Bonus is only valid for one new Bank of America Advantage Plus Banking® account or one new Bank of America Advantage Relationship Banking® account. Offer cannot be combined with any other checking bonus offer and is limited to one bonus per account and per customer. Offer expires on September 30, 2026. Bank of America may change or discontinue this offer at any time before this date without notice.
You may receive different Bank of America promotional checking offers by various methods, i.e., mail, in person or email/online. These promotional checking offers may have different eligibility, enrollment, and bonus requirements.
Requirements to Receive a Checking Bonus:
1. Enroll in this offer through a Bank of America or Merrill associate or online through this offer’s webpage.
2. Open a new Bank of America Advantage Plus Banking® account or a new Bank of America Advantage Relationship Banking® account by September 30, 2026.
Bank of America Advantage SafeBalance Banking® and Bank of America Advantage SafeBalance Banking® for Family Banking accounts are not eligible for this offer.
3. Set up and receive Qualifying Direct Deposits into that new Advantage Plus or Advantage Relationship account within ninety (90) days of account opening (“Deposit Period”).
At the end of the 90-day Deposit Period, all Qualifying Direct Deposits will be totaled to determine the bonus amount you may earn (see Bonus Chart).
“Bonus Chart”
| Total Qualifying Direct Deposits | Bonus Amount |
| less than $2,000 | $0 |
| $2,000 – $4,999 | $100 |
| $5,000 – $9,999 | $300 |
| $10,000 or more | $500 |
1. The savings dividend provides an Annual Percentage Yield (APY) of 3.01%. The APY is accurate as of the 1/22/2026 dividend declaration date. Dividends are paid on the last day of the month to accountholders who have maintained an average daily balance of $100 or more. Savings dividend may change after account is opened and is subject to change at any time. Dividend applies to Savings, Supplemental Savings, Emergency Savings, Kids Savings Accounts, UTMA Custodial Accounts, Trust Accounts and IRA. Fees may reduce earnings on the account.
2. Overdraft protection is optional. You must opt in to benefit from this free service and you can unenroll at any time. Alliant's overdraft protection program honors your overdrafts on your checking account when you don’t have enough money in your Alliant checking account to cover a transaction, provided you have enough money in your Alliant Savings or Supplemental Savings Account. To do so, we automatically transfer funds from your Alliant Savings or Supplemental Savings Account to your Alliant checking account to cover your overdrafts. Overdraft protection does not cover ATM transactions.
Courtesy Pay is a discretionary "courtesy" overdraft service. There is no fee to enroll in or use the Courtesy Pay service and you can unenroll at any time. To be eligible for Courtesy Pay, members must be in good standing and have an Alliant checking account that has been open for at least six months. Other eligibility factors are risk-based and determined by Alliant using internal and confidential information, including your account history. To qualify to use Courtesy Pay, eligible members must have qualifying deposits totaling at least $600 into their Alliant checking account in the previous 30 days. Standard Courtesy Pay may pay checks and ACH electronic items that would not have not cleared otherwise due to insufficient funds, up to an approved limit. The full amount of the overdraft balance will be due immediately but in no event more than 30 days from the date of the occurrence at which time Courtesy Pay privileges will be suspended and possibly terminated. If you opt in for extended coverage, Courtesy Pay may also cover everyday debit transactions on your Alliant Visa debit card that would not have cleared otherwise due to insufficient funds, up to an approved limit. See the Alliant Account Agreement and Disclosures and the Courtesy Pay Disclosure for details and the Fee Schedule for a list of fees. Courtesy Pay does not cover ATM transactions.
3. Transactions performed at other ATMs may be subject to the ATM owner’s surcharge fee. Please see the online ATM Locator at www.alliantcreditunion.com or our mobile banking app for a list of ATMs that accept deposits or are surcharge-free. Not all ATMs accept deposits.Alliant will rebate ATM fees up to $20 per month per membership account when you use your Alliant Visa Debit Card to make a deposit, withdrawal, transfer or balance inquiry. The rebate does not apply to cash advances from Alliant Visa credit cards through ATMs nor to the Alliant Savings ATM Card and Visa International Service Assessment (ISA) fee, referenced as the foreign transaction fee on account statements. Not all ATMs accept deposits.
