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Last updatedNovember 2026
Our Best Online Banks of 2026
Stay on top of your finances
Discover our list of the best online banks for 2026, featuring services, pros and cons, and cost comparisons. Our aim is to help you cut through the muck; saving time and money.
Written by
Emily Sherman
Personal Finance Expert
Expertise
Emily Sherman is a personal finance expert at BestMoney.com, specializing in online banking. Her work has appeared in U.S. News & World Report, Buy Side from the Wall Street Journal, Newsweek, and more. As a veteran journalist, Emily leverages her expertise to help readers make informed financial decisions.
Personal Finance Expert
Reviewed by
Jeanine Skowronski
Editor in Chief
Jeanine Skowronski is a credit card expert, analyst, and multimedia journalist with over 10 years of experience covering business and personal finance. She currently serves as Editor in Chief of Natural Intelligence’s Publisher division and has previously served as Managing Editor at Bankrate and CreditCards.com, the Head of Content at Policygenius, Executive Editor of Credit.com, Deputy Editor at American Banker, Staff Reporter at TheStreet, and a columnist for Inc. Magazine.
Editor in Chief
Why Choose Best Money?
At BestMoney, we aim to provide insightful, well-researched information to help you make informed financial decisions. Our editorial team, together with industry experts, thoroughly evaluates different services’ key features and benefits, delivering insights through comparison tools, in-house reviews, and guides. We're here to support you every step of the way on your financial journey
An online bank operates through a website or mobile application, offering various services. Some have physical locations, while others don't. Services include checking, savings, loans, and credit cards, with some limitations on cash deposits.
How do I open a bank account online?
Opening an online bank account, whether checking or savings, involves providing personal information like your Social Security number, physical address and a government-issued ID like a driver license. Approval times may vary.
How do I deposit and withdraw money with my online bank account?
Deposits can typically be made via mobile check deposit or partner locations for cash deposits. Withdrawals are usually done through approved ATMs using a debit card.
Are online banks safe?
Yes, online banks are generally safe, as they are FDIC insured. However, it's important to research a bank's security measures.
Are online banks FDIC insured?
Yes, online banks are typically FDIC insured, ensuring the safety of deposited funds. Verify a bank's legitimacy before opening an account.
What should I do if I notice unauthorized transactions on my online bank account?
Immediately contact customer service if unauthorized transactions occur. Many online banks offer options to freeze or lock your debit card to prevent further unauthorized use. The bank will investigate and issue a new card if necessary, ensuring you are not held responsible for fraudulent activity.
Our Best Online Banking Companies in 2026
Nowadays, almost all of your banking needs can be handled online, with little need to visit brick-and-mortar locations.
In fact, many online banks (or those without physical branch locations) offer savings rates, fees, and services that compete with or even surpass traditional banks.
Our Best Online Banks at a Glance
BestMoney analyzed fees, interest rates, customer service reputations, and more to identify the top online banking options. Our analysis found:
Barclays, Ally, and Varo should be at the top of your mind if you're looking for a high-yield savings account, as they offer some of the most competitive rates on the market.
American Express is among the few providers offering an above-average annual percentage yield (APY) on checking accounts.
Chime is a great option if you're looking for low- or no-fee checking and savings accounts.
Capital One and PNC Bank have strong online offerings for customers looking to spread and integrate assets across multiple bank accounts.
Read on to learn more about our top picks and which might be the best option for you.
To identify the best online banks, we compared institutions offering fully online checking and savings accounts based on the following factors:
Availability: The best online banks were available to customers in most or all U.S. states and offered a wide range of products, including basic checking and savings accounts and products like personal loans, certificates of deposits (CDs), money market accounts, and more.
Rates and fees: We compared APYs for savings and checking accounts to industry standards to identify the highest-earning accounts. We also prioritized banks that offered checking and savings accounts with no monthly maintenance fee and limited fees for overdrafts, ATM withdrawals, and other transactions. The best options also required no or low minimum deposit amounts to open an account.
User experience: To ensure accessibility, we prioritized online banks with user-friendly apps and online banking portals based on app store reviews and customer feedback. We also awarded banks with transparent rate and fee structures and easily accessible application processes.
Security: All the banks on our list are backed by the Federal Deposit Insurance Corp. (FDIC) or National Credit Union Administration (NCUA) and offer secure mobile and online portals for the safety of sensitive financial information.
Customer service: We compiled customer feedback from various third-party sources, including Trustpilot and the Better Business Bureau (BBB), and first-hand expert experience to identify the top institutions.
The top options ranked highly in all or most of these categories. Read more about our full methodology.
A Closer Look at Our Best Online Banks - Reviews:
1. Chime® - Our best for building your credit
Why we picked Chime®: In addition to traditional checking and savings accounts, Chime® offers a unique credit-builder account, which, in conjunction with a secured credit card can help low- and no-credit account holders improve their scores and build credit history. It requires no credit check or minimum deposit to apply, making it an accessible choice.
For more traditional options, its checking and savings accounts are solid choices, too, with no monthly fees.
Standout features and products:
Accessible account options for people with poor credit
Extensive fee-free ATM network
Early direct deposit
Customer service at a glance
Trustpilot score: 3.6
BBB rating: B- (not accredited)
Common complaints? Difficulty with direct deposit, slow transfers, slow resolution of card disputes
Common praise? User-friendly app, accessibility for rebuilding credit, quality customer service
Contact channels: 24/7 phone support, in-app chat
PROS
✔ No monthly service fees
✔ Traditional checking account and credit-builder account options
✔ Up to $200 of overdraft coverage with SpotMe
CONS
✖ Savings APY lower than competition
✖ Can only deposit cash without a fee at Walgreens
2. PNC Online Banking - Our best for their combined checking and savings account
Why we picked PNC as a top online bank: For people who like to keep their banking simple, PNC offers an all-in-one solution with its Virtual Wallet Checking Pro account. Account holders can combine their monthly service fee-free checking account with a leading savings APY for the best of both worlds.
The bank also encourages responsible financial habits with its Low-Cash Mode tool, which gives virtual wallet users 24 hours to bring their account balance to $0 before they are charged overdraft fees.
Standout features and products:
Offers student and military checking and savings accounts
Offers extensive loan options, including student loans, personal loans, and mortgages
Virtual Wallet allows better spending and savings visualization
Customer service at a glance
Trustpilot score: 1.3
BBB rating: A+ (not accredited)
Common complaints? Poor management of fraudulent account activity, negative experiences with customer service representatives
Common praise? Competitive interest rates, positive experiences in branch locations
Contact channels: 24/7 customer service chat, phone lines with limited hours, select branch locations
PROS
✔ New account sign-up bonus with qualifying activity
✔ Comprehensive digital tools for tracking spending and savings goals
3. American Express National Bank - Our best for earning interest on savings
Why we picked American Express National Bank as a top online bank: More than its popular credit cards, American Express National Bank offers a variety of online bank accounts, including savings accounts. There's no account opening fee, minimum balance, or monthly service fees.
While, American Express National Bank's online checking account is only available to existing card members, anyone can apply for a savings account.
Standout features and products:
Offers high-yield savings, checking, and CD accounts with leading interest rates
Suite of premium rewards credit cards
Offers business checking and line of credit products
Customer service at a glance
Trustpilot score: 1.5
BBB rating: F (Not accredited)
Common complaints? High credit card fees, difficulty resolving fraudulent charges
Common praise? Friendly customer service staff, user-friendly application
Contact channels: 24/7 phone support, traditional mail, fax
PROS
✔ 24/7 customer service
✔Competitive APYs on savings and checking accounts
✔No monthly service fees
CONS
✖ Must be a Membership Rewards member to open checking account
✖ Only one savings account option
✖ Savings APY not best in market
4. Barclays - Our best for higher APYs for large balances
Why we picked Barclays as a top online bank: While most of our top online banks offer the same APY for all savings account balances, Barclays offers a tiered interest structure, allowing people with higher balances to unlock ultra-high rates. The bank does not currently offer a checking account, so it may not be the best choice for those who want all their financial eggs in one basket, but users who don’t mind separate accounts can take advantage of higher rates.
Standout features and products:
Offers tiered and standard savings account options, plus CDs
Suite of airline and hotel co-branded credit cards
Online calculator to help you plan savings goals
Customer service at a glance
Trustpilot score: 2.3
BBB rating: A+ (accredited)
Common complaints? Difficult credit card application process, poor experience with customer service representatives
Common praise? Good app security, useful credit card products
Contact channels: 24/7 phone support
PROS
✔ Leading APY for online savings, especially for higher balances
✔Sign-up bonus for new account holders with qualifying activity
✔ No monthly fees or minimum balance to open
CONS
✖ No checking account offering
✖ Lower earning rate on standard online savings accounts and lower balances
✖No cash deposits
5. Capital One - Our best for integrated accounts
Why we picked Capital One as a top online bank: Capital One has a history as a traditional bank but has transitioned to a more online-first operation in the last several years. Its fully online 360 accounts, including checking and savings products, charge no monthly fees and don't require minimum balances.
Plus, transferring between accounts is easy, making it simple to set up multiple savings accounts for different goals and move money between them as needed.
Standout features and products:
Offers checking, savings, and CD accounts, plus accounts for kids and teens with parental controls
Deposit cash or get customer support at a Capital One Cafe
Offers credit cards, auto loans, and business banking solutions
Customer service at a glance
Trustpilot score: 1.3
BBB rating: A+ (accredited)
Common complaints? Complicated dispute process, unclear communication with customer service
Common praise? Efficient resolution of queries, user-friendly mobile app and online banking portal
Contact channels: Digital assistant chat feature, 24/7 phone support
PROS
✔Capital One Café offers a unique banking experience
✔360 Savings offers competitive APYs
✔ Customers can add cash at select pharmacies
CONS
✖ Capital One Cafés aren’t everywhere
✖ Only one type of checking or savings account
✖Limited branch locations
Read the full Capital One review
6. Varo Bank - Our best for cash back on debit purchases
Why we picked Varo as a top online bank: Besides checking and savings accounts with no hidden fees, Varo offers the opportunity to earn cash back on debit card purchases, with up to 3% back (maximum of $200 per month) at select merchants. The APY on Varo's savings account is also competitive, especially for those with smaller balances.
Standout features and products:
Earn cash back on debit purchases with 10,000 participating merchants
Offers checking, savings, and credit-building accounts, plus personal lines of credit
No foreign transaction fee debit card
Customer service at a glance
Trustpilot score: 3.7
BBB rating: A- (accredited)
Common complaints? Issues setting up direct deposit, delayed receipt of debit cards, limited customer support channels
Common praise? User-friendly app with easy-to-track credit score, simple banking structure
Contact channels: 24/7 live chat support in-app, phone support with limited hours
PROS
✔It’s the only bank on this list that offers cash advances with low fees
✔High APY for savings up to $5,000, if you meet requirements
✔Offers a credit card that can help build or rebuild credit
CONS
✖ Customer reviews don’t reflect positively on customer service experiences
✖ There’s a fee for over the counter “OTC” cash withdrawal
✖There’s a $3.50 fee for using an out-of-network ATM
Why we picked Ally as a top online bank: Ally offers a variety of account options, including checking and savings accounts, a money market account, and a variety of CDs. It doesn't charge monthly maintenance or overdraft fees on checking and savings accounts. Plus, its online banking software allows users to stay organized by creating digital buckets for different spending and savings categories.
Standout features and products:
Offers checking, savings, money market, and CD accounts, plus credit cards, mortgages, and auto loans
User-friendly online banking tools with features for organizing money and saving more efficiently
Extensive fee-free ATM network
Customer service at a glance
Trustpilot score: 1.4
BBB rating: B (not accredited)
Common complaints? Savings rates falling and becoming less competitive, poor experience with customer service representatives
Common praise? Accessible customer service, user-friendly app, hassle-free products
Contact channels: 24/7 customer support via chat, email, or phone lines
Expert intel: “All your digital bank needs are in one place with Ally. Get access to checking accounts, high-yield savings accounts, and credit accounts all through Ally. Ally’s checking accounts have no overdraft fees, no monthly maintenance fees, and the option for early direct deposit … You can bucket out your savings into different goals to help you stay organized and motivated.” — Reaves of City Girl Savings
PROS
✔Create digital spending and savings buckets to categorize your money
✔No major banking fees
✔Competitive savings APY for all balance tiers
CONS
✖ Limited withdrawals per statement cycle on savings account
✖Some competitors offer higher APYs
✖No cash deposits
Comparing the Top Online Banks
Bank
Monthly checking fee?
Minimum deposit to open savings
Minimum deposit to open checking
Chime®
No
$0
$0
PNC Bank
$0 to $25 with a waive option
$0
$0
American Express National Bank
No
$0
$0, but only available to Amex card members
Barclays
N/A
$0
N/A
Capital One
No
$0
$0
Varo
No
$0
$0
Ally
No
$0
$0
Other Online Banks to Consider
Western Alliance: This small bank offers an online high-yield savings account with an uber-competitive APY of 4.30% (and a minimum opening deposit of $500).
Bank5 Connect: Bank5 Connect offers a high-yield checking account with a APY with a minimum balance of $100.
ONE Cash: This relatively new market entrant (and fin-tech company) offers a high-yield checking account with a 3.35% APY if you set up at least $500 in monthly direct deposit.
What Is Online Banking?
Online banking lets you manage your finances via computer or smartphone, providing convenient access to banking services from anywhere with internet access. It includes features like check deposit, fund transfers, and bill pay, mimicking almost all in-branch services.
Some online banks have physical locations, while others are exclusively digital, which limits services like cash deposits. Despite the 24/7 transaction capability, customer support availability can vary.
Pros of Online Banks
Convenience: Manage your finances from home, the office, or anywhere with internet access, saving time and hassle.
Flexibility: Conduct transactions 24/7, including transferring funds, paying bills, and checking account balances, without being limited by bank hours.
Accessibility: Use mobile banking apps from your smartphone or tablet, ensuring your finances are always at your fingertips.
Security: Benefit from enhanced security measures like encryption and multi-factor authentication to protect your personal and financial information.
Cons of Online Banks
Limited cash transactions: Some online banks support cash deposits via ATMs, but many do not accept cash at all. Banks focused solely on savings may not offer ATM access or cash withdrawals, requiring fund transfers to external accounts.
Lack of physical branches: Unless the bank utilizes a hybrid model like Capital One, the absence of brick-and-mortar branches means you miss out on in-person banking services or customer service.
Little opportunity for relationship-building: Online accountholders won’t have the chance to get to know their friendly neighborhood banker, given the lack of branches and (often) limited customer support channels, usually phone or online chat.
To help you choose the best bank for your business, here are some key ways online and traditional banks usually differ.
Online Banks vs. Traditional Banks
Online Banks Offer Lower Fees and Higher APYs
Due to a lack of overhead in terms of staffing and maintaining brick-and-mortar locations, most online banks offer no-to-low fee checking and competitive APYs, particularly on savings accounts.
Traditional Banks Have a Wider Product Selection
Online banks usually offer a narrower range of financial services than traditional ones. They might only provide basic accounts like checking, savings, and CDs, whereas larger national banks offer a comprehensive suite of banking, lending, and investment options.
Traditional Banks Have More Robust ATM Networks
Traditional banks offer ATM access at their branches and partnering retailers. Online banks typically partner with external ATM networks to provide accountholders with some access to free cash withdrawals. Some online banks will reimburse you for out-of-network ATM fees.
Who Are Online Banks Suitable For?
Online banks can be right for tech-savvy users who are comfortable conducting online financial transactions. They're ideal for individuals who prefer the convenience of managing their finances via computer or smartphone without the need to visit a physical branch.
Online banks are less of a fit for people who prefer conducting transactions in person, need to make (large) cash deposits regularly, or are uncomfortable with online portals and mobile apps.
How to Choose the Right Online Bank for Your Needs
These steps can help you pinpoint whether an online financial institution is legitimate and right for your needs.
Look for Red Flags
Lack of FDIC or NCUA insurance, unrealistic interest rates and fees, no physical address, and poor website security are all signs of a shady online bank.
Compare Rates
High APYs are one of the biggest draws across online bank accounts, but not all have the same offer. Ensure you're getting a competitive rate by seeing how your options stack up against each other.
Check for Fees
Most online banks offer some type of free checking, but you might have to make or maintain a minimum deposit into your account to qualify. Check whether certain behaviors, like overdrafts or ATM withdrawals, incur other charges.
Read the Fine Print
Ensure you can deposit or withdraw money promptly, as online banks sometimes have longer transfer times or lower withdrawal limits each month than their traditional counterparts.
Once you’ve chosen a provider, expect to go through the following steps to open your online account.
Visit a bank’s website or app: Go to its website or download its mobile app.
Fill out an application: Most financial institutions will ask for personal information, like your name, address, and Social Security number. They might also ask about your current employment and income status.
Verify your identity: You might have to upload identification documents like a driver's license or passport.
Fund your account: While many online banks don't impose minimum deposit amounts to open an account, you might have to maintain a certain amount of funds to qualify for fee waivers or high APY earnings. Usually, this process involves transferring some money from an existing bank account.
Once you complete this process, you can expect to have access to your new account in a few business days.
Bottom Line
Online banking offers a convenient, flexible, and cost-effective alternative to traditional banking. With lower fees, higher interest rates, and advanced digital features, online banks are ideal for tech-savvy users who prefer managing their finances from anywhere.
Our comprehensive review of the top online banks for 2026 highlights the best options based on APY, fees, and product offerings. By understanding the benefits and potential drawbacks, you can make an informed decision and find the right online bank to meet your needs.
Chime Disclaimers:
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.
‡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.
PNC Disclaimer:
*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 9/1/2026 through 1/7/2027 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.
Bank of America Disclaimer:
¹UP 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 January 31, 2027. 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 January 31, 2027.
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
After the Deposit Period ends, and once you satisfy all the requirements, we will attempt to deposit the earned bonus directly into your new Bank of America Advantage Plus Banking® or Bank of America Advantage Relationship Banking® account within sixty (60) days. Offer is not valid if you or we convert your account to a different account type during the Deposit Period and/or up to and including the date any earned bonus would have been paid. Your new account must be open and in good standing up to and including the date any earned bonus is paid.
A “Qualifying Direct Deposit" is a direct deposit of regular monthly income (such as your salary, pension or Social Security benefits, which are made by your employer or other payer) using account and routing numbers that you provide to them.
Examples of non-qualifying transfers and deposits include the following: teller deposits, wire transfers, debit card transfers, ATM transfers or deposits, Online and Mobile Banking transfers or deposits, or transfers from a bank or brokerage account or Merrill investment account.
Your receipt of any bonus is subject to validation that you have provided all the information we require in connection with maintaining the account. This includes information needed to identify each account owner and to report the bonus to the Internal Revenue Service (IRS), including a validly completed IRS Form W-9 or Form W-8 (as applicable). The value of this bonus may constitute taxable income to you. To the extent required by law, Bank of America may withhold tax or other amounts from the payment. Bank of America may issue an IRS Form 1099 (or other appropriate form) to you that reflects the value of such bonus. Please consult your tax advisor, as neither Bank of America, its affiliates, nor their employees provide tax advice.Additional Terms and Conditions: All account applications are subject to approval. The minimum deposit required to open a Bank of America Advantage Plus Banking® account is $100. The minimum deposit required to open a Bank of America Advantage Relationship Banking® account is $100, and the Annual Percentage Yield (APY) is as follows: less than $50,000, 0.01%; $50,000 and over, 0.02%. APYs are accurate as of 07/01/2026. For today’s rates, select the applicable account at bankofamerica.com/depositsrates. Rates may change at any time without prior notice, before or after the account is opened, and may vary by location. Fees may reduce earnings. Accounts, product terms, and fees may vary by location, and we may discontinue and/or add new account types at any time.
Please consult a financial center, visit bankofamerica.com or see the Personal Schedule of Fees (found at bankofamerica.com/fees) for account fees and additional information about accounts.
Reproduction, purchase, sale, transfer or trade of this offer is prohibited.
Zelle® should only be used to send money to friends, family or others you trust. We recommend that you do not use Zelle® to send money to those you do not know. Transfers require enrollment in the service with a Zelle® eligible U.S. checking or savings account. Bank of America transfers must be made from an eligible consumer or business deposit account. Transactions between enrolled users typically occur in minutes and Bank of America does not charge a transfer fee. We will send you an email alert with transaction details after you send money using Zelle®. Dollar and frequency limits apply. See the Online Banking Service Agreement at bankofamerica.com/serviceagreement for further details. Data connection required. Message and data rates may apply. Neither Bank of America nor Zelle® offers purchase protection for payments made with Zelle®. Please treat Zelle® payments like cash, once you send the money, you are unlikely to get it back – for example, you do not receive the item you paid for using Zelle® or the item received is not as described. Regular account fees apply.
Fiduciary accounts, including trust and estate accounts, do not qualify for the under the age of 25 requirement to waive the monthly maintenance fee. Additionally, accounts do not qualify for the under the age of 25 requirement to waive the monthly fee based on the age of the Payable on Death beneficiary. When you add an owner under the age of 25 to an existing Advantage SafeBalance Banking® account, it may take 3 business days before your account meets the requirement to have the monthly maintenance fee waived. Please refer to the Personal Schedule of Fees for more information.
SafeBalance Banking® and SafeBalance Banking® for Family Banking accounts are automatically set to the Decline All overdraft setting. Transactions are declined or returned unpaid when they exceed your available balance. While this account prevents you from overdrawing in most cases, there may still be times when your account could have a negative balance. This could happen when the final amount of a transaction differs from the amount that was originally authorized, such as when a tip is added to a restaurant charge. If this happens, we won’t charge you an Overdraft Item Fee.
Balance Connect® for overdraft protection allows you to link your eligible checking account with up to 5 eligible Bank of America accounts for overdraft protection. This optional service can help you cover your payments and purchases and help avoid overdrafts and Overdraft Item Fees by automatically transferring available funds from your linked backup account(s) when needed. If your linked backup account does not have enough available funds to cover the necessary amount, we may decline to make the transfer.
Transfers from a linked (1) brokerage account with Merrill Lynch that is enrolled in margin lending, (2) Loan Management Account (LMA®), (3) credit card, or (4) HELOC are subject to interest charges. Please see your account agreement(s) for additional details. Balance Connect® is not available with SafeBalance Banking® or SafeBalance Banking® for Family Banking as a covered or linked backup account. Balance Connect® is available on Advantage Savings as a linked backup account, but not eligible to be enrolled as a covered account.
No fee for incoming domestic wire transfers, stop payments and other services. Please refer to the Personal Schedule of Fees for details.BofA Rewards exclusive deals. BofA Rewards™ members will be eligible for exclusive deal offers. All such offers are subject to the standard terms and conditions of the deals program. Refer to the Deals homepage for details.
BofA Rewards™ Eligibility. Customers can enroll and maintain their membership in BofA Rewards™ if they have an open, qualifying Bank of America® checking account. BofA Rewards tiers are based on each customer’s combined average balance in qualifying deposit and investment accounts. The minimum balance for each tier is: Member, no minimum balance; Preferred Plus, $30,000; Preferred Honors, $100,000; and Premier, $1,000,000. When you enroll, you’ll be placed in the appropriate tier for your combined average balance and then moved to the highest tier you’re eligible for based on one of the following:
1. for the 30 calendar days following your first enrollment, the combined end-of-day collected balance of your qualifying accounts (“Daily Balance”), provided that your Daily Balance remains above the required amount for a minimum of three business days; or
2. subsequently, the combined average balance of your qualifying accounts calculated on the third business day of each month.
Eligible customers will be moved to the higher tier within 3 business days. New tier benefits may take up to 30 days to become effective. For full terms, including qualifying accounts and the method of calculation of average balances, refer to your Personal Schedule of Fees.
Additional Eligibility.Employees and retirees of Bank of America may be eligible for BofA Rewards membership on customized terms. For details, please call Employee Financial Services or refer to the Bank of America intranet site. Bank of America Private Bank clients qualify to enroll in the Premier tier regardless of balances. Employees of companies participating in the Bank of America Employee Banking and Investing Program may be eligible for BofA Rewards on customized terms.
To participate, you just need an eligible Bank of America checking account. Checking accounts may have a monthly maintenance fee if waiver requirements are not met.
Bank of America Advantage SafeBalance Banking, Bank of America Advantage Plus Banking, Bank of America Advantage Relationship Banking, Bank of America and the Bank of America logo are registered trademarks of the Bank of America Corporation.
BofA Rewards is a trademark of Bank of America Corporation.
The Contactless Symbol and Contactless Indicator are trademarks owned by and used with permission of EMVCo, LLC.
2. We give you access to your direct deposits from employer and government payers on the day we receive them, which is typically up to 2 days earlier than your scheduled pay date.
3. Annual Percentage Yield (APY) is accurate as of October 5, 2026. Start earning 1.00% APY, then qualify to earn 3.75% APY on your balance up to $5,000.00 next month by 1) Receiving direct deposit(s) totaling $800 or more; and 2) Ending the month with a positive balance in all your Varo Accounts. Rates subject to change at any time.
4. No fee at U.S. based Allpoint® ATMs. $3.50 fee for cash withdrawals at all out of network & international ATMs. 3rd-party ATM fees may apply. Fees will be charged to the Varo account used for each transaction.
5. Varo Advance qualification is subject to evaluation of consumer reports and Varo account activity. If approved, initial limits range from $20- $250. Unlock higher limits up to $1,000 over time when you bring your qualifying direct deposit to Varo and build a positive history with us. Negative repayment history may impact credit. Fees range from $1.60 - $100 based on loan amount, and deposits to your Varo Bank Account. Your current limit and applicable fees can be viewed in the Varo App. Qualifying direct deposits are electronic deposits of your paycheck,pension or government benefits (such as Social Security or unemployment) from your employeror government agency to the extent that can be identified. Tax refunds and government stimuluspayments, Person-to-Person payments (such as Venmo +or Varo to Anyone), and fundsdeposited using a Varo routing number are not considered a direct deposit.
6. Varo Believe is a secured credit card designed to help you build credit; however, a variety offactors impact your credit and not all factors are equally weighted. You must add money beforeusing, money added sets the spending limit. Funds spent are held in your Varo Believe SecuredAccount to pay off any balance in full monthly, when due.Quals apply.The Varo Visa® BelieveCard is issued by Varo Bank, N.A. pursuant to a license from Visa U.S.A. Inc.
Varo Advance (VA) is a small dollar line of credit. Initial limits range from $20- $250.Fees range from $1.60 - $100 based on loan amount, and deposits to your Varo BankAccount. Your current limit and applicable fees can be viewed in the Varo App.Qualifications apply. Subject to evaluation of consumer reports and Varo account activity.
The Varo Visa® Debit Card is issued by Varo Bank, N.A. pursuant to a license from Visa U.S.A. Inc.
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