The Best Online Banks May, 2023

In our current digital age, there are seemingly endless options for online banking. While this is great in terms of finding a bank that fits your specific needs, it can also be overwhelming to try to compare all of your options.

To help you narrow down your search, we’ve compiled a list of the best online banks. We’ve taken into account things like fees, interest rates, user experience, and more to give you the most comprehensive overview possible.

No matter what your banking needs are, we’re confident you’ll find the perfect institution for you on our list.

American Express® National Bank

If you’re looking for a great online bank, American Express® National Bank is a great option. They offer a wide range of services, including checking and savings accounts, credit cards, loans, and more.

They also have a very user-friendly website and mobile app. Plus, they offer some of the best customer services in the industry.

If you’re looking for a great online bank, American Express® National Bank is a great option. They offer a wide range of services, including checking and savings accounts, credit cards, loans, and more.

They also have a very user-friendly website and mobile app. Plus, they offer some of the best customer services in the industry.

Best for High Yields: CIT Bank

CIT Bank is a great option for those looking for high yields on their deposits. The bank’s Money Market Account offers a competitive interest rate of 0.85% APY, and its Premier High Yield Savings Account boasts an even higher rate of 1.05% APY.

CIT Bank requires a minimum deposit of $100 to open an account, but there are no monthly maintenance fees or other charges to worry about. What’s more, CIT Bank’s accounts are FDIC-insured up to $250,000.

Best for Investors: Wealthfront

Wealthfront is best for investors because it offers a great selection of investment options, low fees, and high-quality customer service.

Wealthfront has been in business since 2008 and has a good reputation for providing quality customer service. It offers a wide variety of investment options, including stocks, bonds, mutual funds, and ETFs.

Its fees are very low compared to other online brokers, and it provides an excellent selection of research tools to help you make the best investment decisions.

Best for Customer Support: Albert

If you’re looking for a bank that offers great customer support, Albert is a great option. They have a team of experts available 24/7 to help with any issues you may have. And if you’re ever unhappy with their service, they offer a 100% satisfaction guarantee.

Chase offers a great online banking experience. You can easily access your account from their website or mobile app. And they offer a wide variety of features, including online bill pay and mobile check deposit.

Best for Overall Potential Returns: Tellus

There are a lot of things to consider when you’re looking for the best online bank. But if you’re focused on finding the institution with the highest potential returns, Tellus is the clear winner.

Tellus offers a comprehensive suite of products and services that can help you maximize your earnings. From high-yield savings accounts and CDs to investment management and retirement planning, Tellus has everything you need to grow your money.

What’s more, Tellus consistently ranks among the top banks in customer satisfaction surveys. So you can rest assured that you’ll be getting great service as well as great returns.

If you’re looking for the best online bank for overall potential returns, Tellus is the obvious choice.

Best for Automated Budgeting: Dough

If you’re looking for a bank that offers automated budgeting features, Douugh is a great option. With Dough, you can connect all of your financial accounts and track your spending in one place.

The app also provides insights into your spending habits and helps you create a budget that works for you. Plus, Douugh doesn’t charge any monthly fees, so it’s a great option for budget-minded individuals.

Best for Teens and Young People: Copper Banking

Copper Banking is a great online bank for teens and young people. They offer a free checking account with no minimum balance, and they have a mobile app that makes it easy to manage your money on the go.

Plus, their customer service is top notch and they offer a great rewards program for their customers.

Best for Freelancers and Self-Employed People: Lili

Lili is a great online bank for freelancers and self-employed people. They offer a free checking account with no minimum balance, and you can also get a debit card with no monthly fees.

They also have a great savings account that offers a high-interest rate and no monthly fees.

Overall, Lili is a great option for freelancers and self-employed people who are looking for an online bank that has low fees and offers great features.

Best for Potential Returns on Savings & Spending: PrizePool

prize pool is a new online bank that offers the potential for great returns on savings and spending. Their focus is on providing a better experience for their customers by offering more ways to win.

The PrizePool website is very user-friendly, and its customer service is excellent. They offer a wide variety of prizes, and the potential for winning is high. I have been using PrizePool for a few months, and I have already won several prizes.

I highly recommend PrizePool to anyone looking for an online bank that offers the potential for great returns on savings and spending.

Best for Savers: Quontic Bank

Quontic Bank is one of the best online banks for savers. They offer high-yield savings accounts and CDs with great rates. Plus, you can open an account for as little as $1.

If you’re looking for a bank that offers great savings rates and doesn’t require a large initial deposit, Quontic Bank is a great option.

Their online savings account offers a competitive APY, and you can open an account with just $1. Plus, they offer a wide variety of CD terms to choose from, so you can find one that fits your saving goals.

Best for Borrowers: Discover Bank

Discover Bank is one of the best online banks for borrowers. They offer a variety of loans, including personal loans, home equity loans, and auto loans.

Discover also has a great rewards program for their credit card holders. You can earn cash back on all of your purchases, and there are no annual fees.

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