7 Best Online Banks Like Chime [2025]

Chime®¹ <p class="">Chime is a financial technology company, not a bank. Banking services and debit card provided by The Bancorp Bank, N.A. or Stride Bank, N.A.; Members FDIC.&nbsp;<br></p> is a popular financial technology company (fintech) that's become known for its easy-to-use mobile app, accounts without monthly fees or minimums² <p>There’s no fee for the Chime Savings Account. Cash withdrawal and Third-party fees may apply to Chime Checking Accounts. You must have a Chime Checking Account to open a Chime Savings Account.</p> , credit-building features, and automated tools to help people save more. It's a great online banking option and app for a variety of people, but it isn't right for everybody.

That's why we've analyzed other no-monthly-fee online banks and financial technology companies with digital platforms, accounts, and benefits similar to Chime's. Based on our research, the Chime competitors we most recommend are SoFi®, Discover, and Varo, but we've included a few other alternatives as well. Here are the best online banks like Chime, and what makes their bank accounts and apps so similar (and potentially better than Chime for you).

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SoFi Checking and Savings

Visit SoFi Checking and Savings

Earn up to a $300 bonus and up to 3.80% APY³ <p>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 during the Direct Deposit Bonus Period) OR $300 (with at least $5,000 total Eligible Direct Deposits received during the Direct Deposit Bonus Period). Cash bonus will be based on the total amount of Eligible Direct Deposit. 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 12/7/2023 and will be available through 1/31/2026. Full terms at <a href="https://www.sofi.com/banking/">sofi.com/banking</a>. SoFi Checking and Savings is offered through SoFi Bank, N.A., Member FDIC.</p><p>SoFi members with Eligible Direct Deposit can earn 3.80% annual percentage yield (APY) on savings balances (including Vaults) and 0.50% APY on checking balances. There is no minimum Eligible Direct Deposit amount required to qualify for the 3.80% APY for savings (including Vaults). Members without Eligible Direct Deposit will earn 1.00% APY on savings balances (including Vaults) and 0.50% APY on checking balances. Interest rates are variable and subject to change at any time. These rates are current as of 1/24/25. There is no minimum balance requirement.&nbsp;Additional information can be found at <a href="http://www.sofi.com/legal/banking-rate-sheet" >http://www.sofi.com/legal/banking-rate-sheet</a>.</p> on your money

5.0

FinanceBuzz writers and editors score products and companies on a number of objective features as well as our expert editorial assessment. Our partners do not influence our ratings.

2025 award winner Best Checking and Savings Combo

• Earn up to a $300 bonus and up to 3.80% APY³ <p>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 during the Direct Deposit Bonus Period) OR $300 (with at least $5,000 total Eligible Direct Deposits received during the Direct Deposit Bonus Period). Cash bonus will be based on the total amount of Eligible Direct Deposit. 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 12/7/2023 and will be available through 1/31/2026. Full terms at <a href="https://www.sofi.com/banking/">sofi.com/banking</a>. SoFi Checking and Savings is offered through SoFi Bank, N.A., Member FDIC.</p><p>SoFi members with Eligible Direct Deposit can earn 3.80% annual percentage yield (APY) on savings balances (including Vaults) and 0.50% APY on checking balances. There is no minimum Eligible Direct Deposit amount required to qualify for the 3.80% APY for savings (including Vaults). Members without Eligible Direct Deposit will earn 1.00% APY on savings balances (including Vaults) and 0.50% APY on checking balances. Interest rates are variable and subject to change at any time. These rates are current as of 1/24/25. There is no minimum balance requirement.&nbsp;Additional information can be found at <a href="http://www.sofi.com/legal/banking-rate-sheet" >http://www.sofi.com/legal/banking-rate-sheet</a>.</p> on your money
• No account, overdraft, or monthly fees⁴ <p>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 Checking & Savings Fee Sheet for details at <a href="http://sofi.com/legal/banking-fees/">sofi.com/legal/banking-fees/</a></p>
• Get your paycheck up to two days early⁵ <p>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.</p>
• Access additional FDIC insurance up to $3 million⁶ <p><b style="font-family: Rubik, -apple-system, BlinkMacSystemFont, &quot;Segoe UI&quot;, Roboto, &quot;Helvetica Neue&quot;, Arial, sans-serif;">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.&nbsp;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&nbsp;<a href="http://sofi.com/banking/fdic/sidpterms">SoFi.com/banking/fdic/sidpterms</a>. See list of participating banks at <a href="http://sofi.com/banking/fdic/participatingbanks">SoFi.com/banking/fdic/participatingbanks</a>.</b></p>

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Best online banks like Chime comparison

Bank	Best for	Features similar to Chime
SoFi®	Customer experience	Early direct deposit5 <p>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.</p> Automated savings Overdraft coverage7 <p>Overdraft Coverage is limited to $50 on debit card purchases only and is an account benefit available to customers with Eligible Direct Deposits of $1,000 or more during the current 30-day Evaluation Period as determined by SoFi Bank, N.A.&nbsp; The 30-Day Evaluation Period refers to the "Start Date" and "End Date" set forth on the APY Details page of your account, which comprises a period of 30 calendar days (the "30-Day Evaluation Period"). You can access the APY Details page at any time by logging into your SoFi account on the SoFi mobile app or SoFi website and selecting either (i) Banking &gt; Savings &gt; Current APY or (ii) Banking &gt; Checking &gt; Current APY.&nbsp; Members with a prior history of non-repayment of negative balances are ineligible for Overdraft Coverage.</p>
Discover	Cash back debit cards better than Chime	Early direct deposit Overdraft coverage Cash back
Varo	Banking app like Chime	Early direct deposit Automated savings Overdraft coverage Cash back
Ally Bank	Full-service banking	Early direct deposit Automated savings Overdraft coverage
Capital One	Teen banking features	Early direct deposit8 <p>Early paycheck is available for 360 Checking customers that set up direct deposit with their employer or other payor to receive electronic deposits of regular periodic payments (such as salary, pension, or government benefits). Certain non-payroll and tax payments are not eligible for early paycheck. Early direct deposits may be available to you up to 2 days earlier, however, we are dependent on the timing of your payor’s payment instructions and therefore you may not always see your direct deposits arrive early. Early paycheck eligibility may vary between pay periods and daily/transaction limits apply. </p>
Axos	Direct deposit perks	Early direct deposit Cash back
OnePay	Building credit	Early direct deposit Overdraft coverage Credit building Cash back

SoFi®

If you're drawn to Chime's products and platform but don't love the fintech's mixed customer experience reputation, look at SoFi. SoFi Checking and Savings is a combined checking and savings account that earns up to 3.80% annual percentage yield (APY) with direct deposit.³ <p>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 during the Direct Deposit Bonus Period) OR $300 (with at least $5,000 total Eligible Direct Deposits received during the Direct Deposit Bonus Period). Cash bonus will be based on the total amount of Eligible Direct Deposit. 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 12/7/2023 and will be available through 1/31/2026. Full terms at <a href="https://www.sofi.com/banking/">sofi.com/banking</a>. SoFi Checking and Savings is offered through SoFi Bank, N.A., Member FDIC.</p><p>SoFi members with Eligible Direct Deposit can earn 3.80% annual percentage yield (APY) on savings balances (including Vaults) and 0.50% APY on checking balances. There is no minimum Eligible Direct Deposit amount required to qualify for the 3.80% APY for savings (including Vaults). Members without Eligible Direct Deposit will earn 1.00% APY on savings balances (including Vaults) and 0.50% APY on checking balances. Interest rates are variable and subject to change at any time. These rates are current as of 1/24/25. There is no minimum balance requirement.&nbsp;Additional information can be found at <a href="http://www.sofi.com/legal/banking-rate-sheet" >http://www.sofi.com/legal/banking-rate-sheet</a>.</p> You don't have to worry about monthly service or overdraft fees with SoFi⁴ <p>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 Checking & Savings Fee Sheet for details at <a href="http://sofi.com/legal/banking-fees/">sofi.com/legal/banking-fees/</a></p> , and you certainly don't have to worry about a middling customer experience.

Chime receives mixed reviews from consumers, with a rating of 3.4 out of 5 stars on Trustpilot and a B- grade with the Better Business Bureau (BBB). Many Chime customers complain about poor communication when they have issues, long processing times, and frustrating support encounters. But SoFi® is known for providing top-notch customer experiences. It has a rating of 4.3 on Trustpilot, which is excellent for a banking platform, and an A+ BBB grade.

When you compare SoFi vs. Chime, SoFi has more financial products, but it won't be right for you if you're looking for just a checking account or just a savings account. You'll also want to link direct deposit to take advantage of SoFi's benefits, so consider other free banks on this list if that's a no-go. SoFi is a Member, FDIC. ⁶ <p><b style="font-family: Rubik, -apple-system, BlinkMacSystemFont, &quot;Segoe UI&quot;, Roboto, &quot;Helvetica Neue&quot;, Arial, sans-serif;">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.&nbsp;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&nbsp;<a href="http://sofi.com/banking/fdic/sidpterms">SoFi.com/banking/fdic/sidpterms</a>. See list of participating banks at <a href="http://sofi.com/banking/fdic/participatingbanks">SoFi.com/banking/fdic/participatingbanks</a>.</b></p>

Visit SoFi Checking and Savings | Read our full SoFi® review.

5.0

FinanceBuzz writers and editors score products and companies on a number of objective features as well as our expert editorial assessment. Our partners do not influence our ratings.

2025 award winner Best Checking and Savings Combo

SoFi Checking & Savings - Earn Up to $300 When You Set Up Direct Deposit

Earn up to 3.80% APY¹⁰ <p>SoFi members who enroll in SoFi Plus with Eligible Direct Deposit or by paying the SoFi Plus Subscription Fee every 30 days or SoFi members with $5,000 or more in Qualifying Deposits during the 30-Day Evaluation Period can earn 3.80% annual percentage yield (APY) on savings balances (including Vaults) and 0.50% APY on checking balances. There is no minimum Eligible Direct Deposit amount required to qualify for the stated interest rate. Members without either SoFi Plus or Qualifying Deposits, during the 30-Day Evaluation Period will earn 1.00% APY on savings balances (including Vaults) and 0.50% APY on checking balances. Interest rates are variable and subject to change at any time. These rates are current as of 1/24/25. There is no minimum balance requirement. If you have satisfied Eligible Direct Deposit requirements for our highest APY but do not see 3.80% APY on your APY Details page the day after your Eligible Direct Deposit arrives, please contact us at 855-456-7634. Additional information can be found at <a href="http://www.sofi.com/legal/banking-rate-sheet">http://www.sofi.com/legal/banking-rate-sheet</a>. See the SoFi Plus Terms and Conditions at <a href="https://www.sofi.com/terms-of-use/#plus">https://www.sofi.com/terms-of-use/#plus</a>.</p> and collect up to a $300 cash bonus with direct deposit or $5,000 or more in qualifying deposits.³ <p>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 during the Direct Deposit Bonus Period) OR $300 (with at least $5,000 total Eligible Direct Deposits received during the Direct Deposit Bonus Period). Cash bonus will be based on the total amount of Eligible Direct Deposit. 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 12/7/2023 and will be available through 1/31/2026. Full terms at <a href="https://www.sofi.com/banking/">sofi.com/banking</a>. SoFi Checking and Savings is offered through SoFi Bank, N.A., Member FDIC.</p><p>SoFi members with Eligible Direct Deposit can earn 3.80% annual percentage yield (APY) on savings balances (including Vaults) and 0.50% APY on checking balances. There is no minimum Eligible Direct Deposit amount required to qualify for the 3.80% APY for savings (including Vaults). Members without Eligible Direct Deposit will earn 1.00% APY on savings balances (including Vaults) and 0.50% APY on checking balances. Interest rates are variable and subject to change at any time. These rates are current as of 1/24/25. There is no minimum balance requirement.&nbsp;Additional information can be found at <a href="http://www.sofi.com/legal/banking-rate-sheet" >http://www.sofi.com/legal/banking-rate-sheet</a>.</p> FDIC Insured.⁶ <p><b style="font-family: Rubik, -apple-system, BlinkMacSystemFont, &quot;Segoe UI&quot;, Roboto, &quot;Helvetica Neue&quot;, Arial, sans-serif;">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.&nbsp;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&nbsp;<a href="http://sofi.com/banking/fdic/sidpterms">SoFi.com/banking/fdic/sidpterms</a>. See list of participating banks at <a href="http://sofi.com/banking/fdic/participatingbanks">SoFi.com/banking/fdic/participatingbanks</a>.</b></p>

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Discover

Discover may be best known for its credit cards, but don't count it out for banking — especially if you're in the market for a debit card. Discover has a checking account, savings account, MMA, and a handful of CDs, but we like the bank's checking account the most. The Discover^® Cashback Debit account is like Chime's checking account in that it doesn't charge fees, includes early paychecks and overdraft coverage, and allows for cash deposits at participating Walmart locations, but that's where the similarities end.¹¹ <p>See <a href="https://www.discover.com/content/dam/dfs/online-banking/documents/NationalDepositAccountAgreement.pdf">Deposit Account Agreement</a> for details on transaction eligibility, limitations, and terms.</p>

The Discover Cashback Checking account offers up to 1.00% cash back on up to $3,000 in monthly Discover debit card purchases.¹² <p>Earn 1% cash back on up to $3,000 in debit card purchases each month. See Deposit Account Agreement for details on transaction eligibility, limitations and terms. Deposit Account Agreement can be found at <a href="https://www.discover.com/content/dam/dfs/online-banking/documents/NationalDepositAccountAgreement.pdf">https://www.discover.com/content/dam/dfs/online-banking/documents/NationalDepositAccountAgreement.pdf</a>.</p> Not everyone with a checking account uses their debit card often, but we'd argue this is the best way to bank with Discover.

Discover's other banking accounts aren't bad, either. The Discover^® Online Savings account has a 3.50% (as of 06/26/25) APY, and its 12-month CD currently offers 4.00% (as of 04/01/25).¹³ <p>Annual Percentage Yield (APY). Advertised Online Savings Account APY is accurate as of 06/26/25. Applies to personal accounts only. APY may change before or after the account is opened. No minimum deposit to open.</p> The Discover® Money Market Account earns up to 3.45% (as of 06/26/25) APY depending on the balance. CDs and money market accounts require a $2,500 minimum deposit but don't have account fees. Member FDIC.

Visit Discover® Cashback Debit | Check out our full Discover bank review.

4.5

FinanceBuzz writers and editors score products and companies on a number of objective features as well as our expert editorial assessment. Our partners do not influence our ratings.

2025 award winner Best Online Checking Account

Discover® Cashback Checking

Earn 1% cash back on up to $3,000 in debit card purchases each month.¹⁴ <p>See website for details.</p> No minimum deposit or balance. FDIC Insured.

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Varo

We picked Varo as one of the best Chime alternatives because it offers a similar mobile app and online banking platform. If you like Chime's clean interface and user experience, Varo might have what you're looking for.

Like Chime, Varo's product suite is lean. It has one savings account, one checking account, and a few non-banking products, including a credit-building credit card and line of credit. Its accounts don't have fees or minimums, and the bank provides round-up savings transfers and early direct deposit, so you can get paid up to two days early.¹⁵ <p>Early access to direct deposit funds depends on timing of the payer’s submission of deposits. We generally post such deposits on the day they are received which may be up to 2 days earlier than the payer’s scheduled payment date.</p> Varo also offers Varo Advance cash advances up to $500 with a flat fee determined by the total, similar to Chime's SpotMe® Fee-Free Overdraft (but Chime only offers up to $200 for eligible members).¹⁶ <p>SpotMe® on Debit is an optional, no fee overdraft service attached to your Chime Checking Account. To qualify for the SpotMe on Debit service, you must receive $200 or more in qualifying direct deposits to your Chime Checking Account each month and have activated your physical Chime Visa® Debit Card or secured Chime Credit Builder Visa® Credit Card. Qualifying members will be allowed to overdraw their Chime Checking Account for up to $20 on debit card purchases and cash withdrawals initially 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 Debit limit will be displayed within the Chime mobile app and is subject to change at any time, at Chime's sole discretion. Although Chime does not charge any overdraft fees for SpotMe on Debit, there may be out-of-network or third-party fees associated with ATM transactions. SpotMe on Debit will not cover any non-debit card transactions, including ACH transfers, Pay Anyone transfers, or Chime Checkbook transactions. <a href="https://www.chime.com/policies/">SpotMe on Debit Terms and Conditions</a>.</p>

Compared to Chime, Varo pays higher interest rates. While Chime only offers a 1.25% APY ¹⁷ <p class="">The Annual Percentage Yield (“APY”) for the Chime Savings Account is variable and may change at any time. The disclosed APY is accurate as of 5/22/25. No minimum balance required. Must have $0.01 in savings to earn interest.&nbsp;</p> on savings¹⁸ <p class="">Chime Checking Account is required to be eligible for a Savings Account.<br></p> , Varo pays 5.00% (as of 04/25/25) on the first $5,000 deposited. However, to get the highest rate, you must receive a qualifying direct deposit of $1,000 or more each month and maintain a positive amount in your Varo Spending and Savings accounts.

Read our full Varo review.

Ally

Ally Bank's robust list of accounts and features makes it one of the best online banks for people who want to keep all their finances with one company, and this is also why we see it as one of the strongest Chime alternatives. The FDIC-insured, online-only bank offers a high-yield savings account with 3.50% interest and an interest checking account earning 0.10% (as of 05/02/25) interest. Unlike Chime, Ally has money market accounts (MMAs) and certificates of deposit (CDs) for those of us looking further into the future with our savings.

Ally doesn't charge monthly maintenance or overdraft fees, and it's a great option if you value cash access. Ally also offers early direct deposit and lets you separate funds in your checking and savings accounts for different purposes with buckets. It pays 0.10% (as of 05/02/25) APY on checking and 3.50% APY¹⁹ <p class="">The APY of 3.50% is accurate as of 6/19/25. Rates are subject to change and may vary by account type and financial institution.&nbsp;</p> on savings accounts.

One of Ally's main drawbacks is that it does not accept cash deposits, as Chime does. However, it accepts mobile checks, transfers, direct deposits, wire transfers, and mailed checks.

Read our full Ally review.

Capital One

If you pretty much like everything about Chime and just wish your kid could use it, we think you'll appreciate Capital One 360. Capital One has checking, savings, CD, and money market accounts with no fees or minimum balance requirements, and its earning rates are pretty competitive across the board (3.50%²⁰ <span>A rate of 3.50% Annual Percentage Yield (APY) applies to all account balances. Advertised rates are variable and effective as of 06/26/25. Rates are subject to change at any time before or after account opening.</span> APY on the 360 Performance Savings). But the bank's accounts for kids and teens set it apart from many institutions.

With Capital One 360, you can set up a Kids Savings Account for your child or help them learn healthy money habits with a MONEY Teen Checking. The savings account earns 2.50% APY, and the checking account earns 0.10% (as of 05/02/25) APY. Both include kid-friendly mobile platforms with parental oversight. You must be at least 18 to open an account through Chime, but kids as young as eight can bank with Capital One.

Capital One is also one of few digital-forward banks with brick-and-mortar locations, though physical branches are limited to the states on the East Coast — there are less than 300 altogether.

Read our full Capital One 360 review.

Axos

If Chime's basic checking account feels like it's missing something, we recommend you look into Axos Bank. Axos Bank is an independently chartered institution with a range of financial products and services, but its interest-bearing checking account is probably the one you'll be most interested in.

The Axos ONE® account is like SoFi's Checking and Savings account because it combines checking and savings features. It earns up to 4.66% APY on savings with direct deposit, plus 0.51% APY on checking.²¹ <p class="">The Annual Percentage Yield (APY) is accurate as of 04/01/2025. The base and promotional interest rate and corresponding APY for Axos ONE Checking is variable and is set at our discretion. The base and promotional interest rate and corresponding APY for Axos ONE Savings is variable and is set at our discretion. Axos ONE Savings is a tiered variable rate account. Axos ONE Checking is a non-tiered variable rate account. Interest rates may change as often as daily without prior notice. Fees may reduce earnings.</p><p>Promotional terms and conditions are subject to change or removal without notice. Incentive may be taxable and reported on IRS Form 1099-MISC. Consult your tax advisor. After the accounts are opened, the amount of incentive earned will depend on meeting the additional requirements outlined below.</p><p>The Axos ONE Checking account will earn a base rate of 0.00% APY. The Axos ONE Savings account will earn a base rate of 1.00% APY.</p><p>Axos ONE accounts are eligible to receive a promotional APY for each statement cycle where the promotional criteria are met during the Qualification Period. To receive the promotional APY on both Axos ONE Checking and Axos ONE Savings, the Axos ONE Checking account must meet both of the requirements in either Option 1 or Option 2 below during the Qualification Period:</p><p>Option 1</p><p>1. Your Axos ONE Checking account has received qualifying direct deposits of at least $1,500 in total.</p><p>2. The average daily balance of your Axos ONE Checking account is at least $1,500.</p><p>Option 2</p><p>1. Your Axos ONE Checking account has received qualifying deposits of at least $5,000 in total.</p><p>2. The average daily balance of your Axos ONE Checking account is at least $5,000.</p><p>If both of the requirements in either Option 1 or Option 2 above are met during the Qualification Period:</p><p>• The Axos ONE Checking account will earn a promotional rate of 0.51% APY for the statement cycle in which the requirements are met.</p><p>• The Axos ONE Savings account will earn a promotional rate of up to 4.66% APY for the statement cycle in which the requirements are met.</p><p>The Qualification Period is from the 1st of the month through the 25th of the month. The Qualification Period for new accounts will begin on the day the account is approved. Any qualifying direct deposits received after the 25th of the month will count toward the next Qualification Period. </p><p>A direct deposit is an electronic deposit of your paycheck or government benefits, such as Social Security, Disability, etc. Other deposits (i.e., online banking transfers, ATM and mobile check deposits, etc.) or person-to-person payments are not considered a direct deposit.</p><p>Qualifying deposits only include deposits from the following eligible sources: (i) ACH transfers from external accounts, (ii) inbound wire transfers from external accounts, (iii) check deposits. Qualifying deposits do not include: (i) transfers internal to the bank (i.e., transfers between an account holder’s Checking and/or Savings account), (ii) interest payments, (iii) promotional bonuses, (iv) credits, reversals, and refunds.</p><p>Both accounts must be in an open and active status on the date the interest is paid to receive the promotional APY for that statement cycle. Account transactions may take one or more business days from the transaction date to post to the account.</p> Chime offers a few perks when you link direct deposit, but they're lackluster in comparison to Axos'. If you plan to route your paycheck to whatever bank account you open, you can potentially qualify for a high APY with Axos, plus early paycheck access. To earn the best rate, you need to either receive at least $1,500 in qualifying monthly direct deposits or maintain an average daily balance of $5,000.

Axos' online savings account and CD rates aren't as impressive as its checking account rates. The high-yield savings account provides up to 0.61% (as of 05/02/25) APY, which is lower than you can find at other banks but still higher than the national average of 0.38% (as of 6/16/25), according to FDIC data. Still, Axos is a poor choice for savings but good for checking.

Visit Axos. | Learn more in our Axos Bank review.

OnePay

We chose OnePay (formerly One or One Finance) as the best alternative for people who like the credit-building features of Chime. Usually, you can only build credit with a credit card. But with OnePay, you can enroll in the Credit Builder Program as a banking customer without a credit check to build a positive payment history and try to improve your credit.²³ <p>Use of the Credit Builder Program does not guarantee that your credit score will improve. Credit score improvement is dependent on your specific circumstances and a variety of factors, including your financial behavior. Failure to make monthly minimum payments on time may negatively impact your credit score. Credit Builder is available to OnePay Cash accounts that have either (i) received <a href="https://www.onepay.com/help-center/articles/direct-deposit">Direct Deposits</a> totaling $500+ in the current or previous month, or (ii) have a balance of $5,000+ at the end of the previous month. Participation is subject to eligibility. See <a href="https://www.onepay.com/legal/licenses">Licenses</a>, for state disclosures. OnePay is not a credit repair service and does not remove negative credit history from your credit profile.</p> It costs $1 a month and $500 in direct deposits or a balance of $5,000 to qualify, but this might be worth it if your credit is in rough shape or too new for a credit card.²⁴ <p>Based on a 12 month loan with $25 monthly payments and a 0% APR. You can choose how much you’d like to pay towards your monthly payment, with a minimum of $1. If you choose an amount less than the full monthly payment, the remainder will be paid from the loan proceeds held in your Credit Builder lockbox.</p>

OnePay is a fintech that partners with Coastal Community Bank and Lead Bank to provide banking services.²⁵ <p><b>OnePay is a financial technology company, not a bank. Loans through OneProgress Services LLC (NMLS ID 2460509) and banking services through OnePay are provided by Coastal Community Bank or Lead Bank, Members FDIC.</b></p> It uses a single checking account with pockets to dedicate money for different savings goals. You can earn up to 3.75% (as of 12/20/2024) APY on your Save balances with eligible deposits and enable an auto-save feature to round up purchases.²⁶ <p element-id="440">3.75% (as of 12/20/2024) annual percentage yield (APY) applies to the Savings balance of OnePay Cash accounts that either (i) received $500+ of <a href="https://support.one.app/hc/en-us/articles/360053046053-Direct-deposit">Direct Deposits</a> in the current or previous month or (ii) have a&nbsp; balance of $5,000+ at the end of the previous month. 3.75% (as of 12/20/2024) APY is also earned on Pay Autosave balances without deposit or balance requirements.&nbsp; 3.75% (as of 12/20/2024) 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 12/20/2024, but may change at any time before or after account opening.</p>

OnePay has no monthly fees or account minimums. There is no fee for cash withdrawals at Walmart using your OnePay debit card. If you are a Plus Customer (those who receive $500 or more in eligible direct deposits per month or have an account balance of $5,000), you can use the Allpoint Network of ATMs for free. If you are not a Plus Customer, you'll pay a $3 fee plus any fees the ATM operator charges. Additionally, you can only deposit cash at Walmart checkout or customer service stations.²⁷ <p class="">Only applies to deposits and withdrawals with a OnePay Cash debit card made at Walmart Money Centers, cashiers, or Customer Service desks.</p>

Read our full OnePay review.

How to choose an online bank like Chime

If you're interested in Chime but want to make sure you're considering all the best online banks, here are some tips for narrowing down your options.

Check out account types

Chime has one checking and one savings account option. Many online banks provide more account types to choose from than this, which may include additional checking and/or savings options or other bank accounts, such as CDs or MMAs. Within each account category, there can also be multiple options for the main features or benefits you'll get when banking. For example, some checking accounts emphasize interest earnings or cashback rewards, while others may offer early direct deposit or be second-chance accounts for those with imperfect banking histories.

Compare funding and withdrawal terms

For each type of account you're interested in, look at funding and withdrawal options. Many online banks only permit digital transfers via ACH or direct deposit, but some also allow for cash deposits or provide checks. Think about how you like to bank to decide what might work for you, and note any monthly transaction limitations and fees for exceeding these.

Consider rates, fees, and minimums

Many online banks and fintechs, including Chime and most on this list, don't have minimum balance requirements or charge monthly fees. This makes them more appealing if you tend to carry lower balances because you won't have to worry about losing your money to fees if your balance dips below a certain number, and you shouldn't have to pay just to be a customer.

Many online banks also offer higher rates on interest-bearing accounts than brick-and-mortar banks. This is because online banks operate with lower overhead than banks that pay to keep thousands of physical branches open, so they can reward customers with better rates. Still, always shop around for the best rates on whatever account you're looking to open.

Research features

Some banks provide enticing banking features like cash back on checking, overdraft coverage, automated savings tools, and early direct deposit. Depending on how you bank, features like this can help you save money. Consider all the options available and note any requirements you need to meet to qualify for perks. For example, some accounts, like Discover's checking account, offer cashback on qualifying purchases up to $3,000 a month, and you need to enroll in direct deposit to be eligible for SoFi's Overdraft Coverage.

Featured Checking Accounts

5.0

FinanceBuzz writers and editors score products and companies on a number of objective features as well as our expert editorial assessment. Our partners do not influence our ratings.

2025 award winner Best Checking and Savings Combo

SoFi Checking & Savings - Earn Up to $300 When You Set Up Direct Deposit

Earn up to 3.80% APY¹⁰ <p>SoFi members who enroll in SoFi Plus with Eligible Direct Deposit or by paying the SoFi Plus Subscription Fee every 30 days or SoFi members with $5,000 or more in Qualifying Deposits during the 30-Day Evaluation Period can earn 3.80% annual percentage yield (APY) on savings balances (including Vaults) and 0.50% APY on checking balances. There is no minimum Eligible Direct Deposit amount required to qualify for the stated interest rate. Members without either SoFi Plus or Qualifying Deposits, during the 30-Day Evaluation Period will earn 1.00% APY on savings balances (including Vaults) and 0.50% APY on checking balances. Interest rates are variable and subject to change at any time. These rates are current as of 1/24/25. There is no minimum balance requirement. If you have satisfied Eligible Direct Deposit requirements for our highest APY but do not see 3.80% APY on your APY Details page the day after your Eligible Direct Deposit arrives, please contact us at 855-456-7634. Additional information can be found at <a href="http://www.sofi.com/legal/banking-rate-sheet">http://www.sofi.com/legal/banking-rate-sheet</a>. See the SoFi Plus Terms and Conditions at <a href="https://www.sofi.com/terms-of-use/#plus">https://www.sofi.com/terms-of-use/#plus</a>.</p> and collect up to a $300 cash bonus with direct deposit or $5,000 or more in qualifying deposits.³ <p>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 during the Direct Deposit Bonus Period) OR $300 (with at least $5,000 total Eligible Direct Deposits received during the Direct Deposit Bonus Period). Cash bonus will be based on the total amount of Eligible Direct Deposit. 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 12/7/2023 and will be available through 1/31/2026. Full terms at <a href="https://www.sofi.com/banking/">sofi.com/banking</a>. SoFi Checking and Savings is offered through SoFi Bank, N.A., Member FDIC.</p><p>SoFi members with Eligible Direct Deposit can earn 3.80% annual percentage yield (APY) on savings balances (including Vaults) and 0.50% APY on checking balances. There is no minimum Eligible Direct Deposit amount required to qualify for the 3.80% APY for savings (including Vaults). Members without Eligible Direct Deposit will earn 1.00% APY on savings balances (including Vaults) and 0.50% APY on checking balances. Interest rates are variable and subject to change at any time. These rates are current as of 1/24/25. There is no minimum balance requirement.&nbsp;Additional information can be found at <a href="http://www.sofi.com/legal/banking-rate-sheet" >http://www.sofi.com/legal/banking-rate-sheet</a>.</p> FDIC Insured.⁶ <p><b style="font-family: Rubik, -apple-system, BlinkMacSystemFont, &quot;Segoe UI&quot;, Roboto, &quot;Helvetica Neue&quot;, Arial, sans-serif;">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.&nbsp;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&nbsp;<a href="http://sofi.com/banking/fdic/sidpterms">SoFi.com/banking/fdic/sidpterms</a>. See list of participating banks at <a href="http://sofi.com/banking/fdic/participatingbanks">SoFi.com/banking/fdic/participatingbanks</a>.</b></p>

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4.5

FinanceBuzz writers and editors score products and companies on a number of objective features as well as our expert editorial assessment. Our partners do not influence our ratings.

2025 award winner Best Online Checking Account

Discover® Cashback Checking

Earn 1% cash back on up to $3,000 in debit card purchases each month.¹⁴ <p>See website for details.</p> No minimum deposit or balance. FDIC Insured.

Learn More

4.2

FinanceBuzz writers and editors score products and companies on a number of objective features as well as our expert editorial assessment. Our partners do not influence our ratings.

Use Cash App As Your All-in-One Financial Services Platform

Bank³² <p>Cash App is a financial services platform, not a bank. Banking services are provided by Cash App’s bank partner(s). Prepaid debit cards issued by Sutton Bank, Member FDIC.&nbsp;&nbsp;See<a href="https://cash.app/legal/us/en-us/card-agreement"> Terms and Conditions</a>.&nbsp;Direct deposit provided by Cash App, a Block Inc. brand.</p> without all the fees—save, send, and spend your money the way you want.³³ <p class="">With a Cash App Card, your funds are eligible for FDIC pass-through insurance through our Program Banks Wells Fargo Bank, N.A. and/or Sutton Bank, Members FDIC for up to $250,000 per customer when aggregated with all other deposits held in the same legal capacity at each Program Bank above, if certain conditions are met.&nbsp;</p> Get paid up to 2 days early – up to 2 days earlier than most banks³⁴ <p>Your first deposit may take longer depending on your employer.</p>

Download Cash App

FAQs

Other banks we considered

Current

If the secured Chime Credit Builder Visa® Credit Card appeals to you, Current might be a good choice. We didn't include it in our list of top accounts because the company offers only one bank account, and you can only earn the best rate of 4.00% APY on up to $6,000 in savings.

But there's a lot to like about Current vs. Chime. This includes a secured credit card to help you build credit, round-up savings transfers, and the ability to separate savings into "Savings Pods" to allocate funds for different goals. We chose OnePay as the best for building credit because you can enroll without signing up for a credit card.

Quontic Bank

Quontic Bank didn't quite make our top nine because it's a smaller bank with fewer reviews available for it, and many of its products fall just a bit short of our favorite options. For example, the Quontic High Yield Savings account earns a decent APY of 3.85% (as of 5/9/25), but this rate doesn't quite compete with the accounts earning 5.00% APY; plus, it requires a minimum deposit of $100 (which isn't high, but we'll take no minimums over low minimums).

Quontic has some interesting checking accounts, including a Wearable Checking account that comes with a "pay ring" instead of a traditional debit card, but its strongest offerings are arguably its MMA and CDs. Consider this online bank over Chime if you're looking for a place to save for the long haul.

Reach Your Savings Goals Faster

5.0

FinanceBuzz writers and editors score products and companies on a number of objective features as well as our expert editorial assessment. Our partners do not influence our ratings.

2025 award winner Best Checking and Savings Combo

SoFi Checking and Savings Benefits

• Earn up to 3.80% APY¹⁰ <p>SoFi members who enroll in SoFi Plus with Eligible Direct Deposit or by paying the SoFi Plus Subscription Fee every 30 days or SoFi members with $5,000 or more in Qualifying Deposits during the 30-Day Evaluation Period can earn 3.80% annual percentage yield (APY) on savings balances (including Vaults) and 0.50% APY on checking balances. There is no minimum Eligible Direct Deposit amount required to qualify for the stated interest rate. Members without either SoFi Plus or Qualifying Deposits, during the 30-Day Evaluation Period will earn 1.00% APY on savings balances (including Vaults) and 0.50% APY on checking balances. Interest rates are variable and subject to change at any time. These rates are current as of 1/24/25. There is no minimum balance requirement. If you have satisfied Eligible Direct Deposit requirements for our highest APY but do not see 3.80% APY on your APY Details page the day after your Eligible Direct Deposit arrives, please contact us at 855-456-7634. Additional information can be found at <a href="http://www.sofi.com/legal/banking-rate-sheet">http://www.sofi.com/legal/banking-rate-sheet</a>. See the SoFi Plus Terms and Conditions at <a href="https://www.sofi.com/terms-of-use/#plus">https://www.sofi.com/terms-of-use/#plus</a>.</p> and collect up to a $300 cash bonus with direct deposit or $5,000 or more in qualifying deposits³ <p>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 during the Direct Deposit Bonus Period) OR $300 (with at least $5,000 total Eligible Direct Deposits received during the Direct Deposit Bonus Period). Cash bonus will be based on the total amount of Eligible Direct Deposit. 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 12/7/2023 and will be available through 1/31/2026. Full terms at <a href="https://www.sofi.com/banking/">sofi.com/banking</a>. SoFi Checking and Savings is offered through SoFi Bank, N.A., Member FDIC.</p><p>SoFi members with Eligible Direct Deposit can earn 3.80% annual percentage yield (APY) on savings balances (including Vaults) and 0.50% APY on checking balances. There is no minimum Eligible Direct Deposit amount required to qualify for the 3.80% APY for savings (including Vaults). Members without Eligible Direct Deposit will earn 1.00% APY on savings balances (including Vaults) and 0.50% APY on checking balances. Interest rates are variable and subject to change at any time. These rates are current as of 1/24/25. There is no minimum balance requirement.&nbsp;Additional information can be found at <a href="http://www.sofi.com/legal/banking-rate-sheet" >http://www.sofi.com/legal/banking-rate-sheet</a>.</p>
• No account, overdraft, or monthly fees⁴ <p>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 Checking & Savings Fee Sheet for details at <a href="http://sofi.com/legal/banking-fees/">sofi.com/legal/banking-fees/</a></p>
• Get your paycheck up to two days early⁵ <p>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.</p>
• Access additional FDIC insurance up to $3 million⁶ <p><b style="font-family: Rubik, -apple-system, BlinkMacSystemFont, &quot;Segoe UI&quot;, Roboto, &quot;Helvetica Neue&quot;, Arial, sans-serif;">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.&nbsp;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&nbsp;<a href="http://sofi.com/banking/fdic/sidpterms">SoFi.com/banking/fdic/sidpterms</a>. See list of participating banks at <a href="http://sofi.com/banking/fdic/participatingbanks">SoFi.com/banking/fdic/participatingbanks</a>.</b></p>

5.0

FinanceBuzz writers and editors score products and companies on a number of objective features as well as our expert editorial assessment. Our partners do not influence our ratings.

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