8 Best Online Banks Like Chime

Many new online banks offer features similar to the fintech company Chime. But which banks have the best options for you?
Updated April 17, 2024
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The popular app Chime® has become known for its easy-to-use mobile interface, no monthly fees or minimums, and built-in automatic savings plans 12. It's a good option for people who want a hassle-free experience, but it might not have some of the features of some online banks.

Many options are available for those searching for some of the best online banks that work like Chime but have additional features.

Most, like Discover® BankAlly, Axos, and Capital One, offer the same easy electronic access to your money but also have additional options that Chime doesn’t provide. Learn more about the best Chime alternatives.

Featured checking account

Discover®️ Cashback Debit Benefits

  • Earn 1% cash back on up to $3,000 in debit card purchases each month3
  • No minimum deposit, no minimum balance, and no account fees
  • Access your paycheck up to 2 days early with Early Pay
  • 60K+ fee-free ATMs and make cash deposits at Walmart stores nationwide

In this article

Key takeaways

  • Many online bank accounts offer no minimum balance requirements and no or low fees.
  • Some online banks, like Capital One, have physical locations in certain areas, but most only offer access via a mobile app or computer.
  • Online banks generally offer a higher annual percentage yield (APY) on deposit accounts than traditional banks.
  • Ally Bank offers the most comprehensive features of any bank on our list, including multiple investing features, a high-yield savings account, and an interest-bearing checking account.

The 8 best online banks like Chime

Best online banks like Chime comparison

Bank Account minimums Fees ATM access
Discover $0 $0 60,000+ fee-free ATMs via the Allpoint and MoneyPass networks
SoFi $0 $0 monthly maintenance and overdraft fees 55,000+ via the Allpoint ATM network
Varo $0 $0 monthly maintenance fees; other fees may apply 55,000+ via the Allpoint ATM network
Ally Bank $0 $0 on checking and high-yield savings accounts 43,000+ via the Allpoint ATM network
Capital One $0 $0 70,000+ fee-free ATMs via the Allpoint and MoneyPass networks; only Capital One branded ATMs can accept cash deposits
Revolut4 $0 $0 for card payments but currency exchange fees may apply 55,000+ via the Allpoint ATM network
Axos $0 $0 no monthly maintenance fees or minimum balance fees Yes, via the Allpoint ATM network
One $0 $0 monthly fees 55,000+ via the Allpoint ATM network


  • Competitive rates on savings and CD accounts
  • No monthly account fees or minimums
  • Earn 1% cashback up to $3,000 monthly with a Discover® Cashback Debit Card
  • Does not reimburse out-of-network ATM fees
  • No cash deposits
  • Requires a $2,500 minimum balance to open a CD or money market account

As a financial institution, Discover is best known for its credit card options but also provides online banking services like checking, savings, and retirement accounts. The Discover® Cashback Checking account offers up to 1% cash back on up to $3,000 in monthly Discover debit card purchases and has no monthly fees or minimum balance requirements.

Discover also offers an option to order paper checks, which may appeal to some people.

The Discover® Online Savings Account has a 4.30% (as of Mar. 12, 2024) APY, and its 12-month CD currently offers 5.00% (as of Jan. 30, 2024). The Discover® Money Market Account earns 4.20%-4.25% (as of Jan. 30, 2024) APY depending on the balance. CDs and money market accounts require a $2,500 minimum deposit but don’t have account fees.

Check out our full Discover bank review.

Or visit Discover.

Discover®️ Cashback Checking - Earn Cash Back

Earn 1% cash back on up to $3,000 in debit card purchases each month.3 No minimum deposit or balance. FDIC Insured.

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  • Up to 4.60% APY on savings with direct deposit5
  • No monthly maintenance or overdraft fees
  • Up to $2 million FDIC insurance6
  • Highest APY requires direct deposit
  • Can’t choose a standalone checking or savings account

SoFi provides a checking and savings account that offers up to 4.60% APY. You don’t have to worry about monthly service charges or overdraft fees.

SoFi is an online-only financial institution, but you can still receive up to $2 million in FDIC insurance for your stored funds. That’s up to $250,000 of standard FDIC insurance and up to $2 million coverage if you opt-in to SoFi’s insured deposit program at no extra cost.

Read our full SoFi review.

Or visit SoFi.

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

Earn 4.60% APY7 and collect up to a $300 cash bonus with direct deposit or $5,000 or more in qualifying deposits.8 FDIC Insured.

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  • No monthly fees on savings accounts and no minimum balance requirements
  • High APY on savings accounts and an automatic round-up feature to increase savings
  • Unlimited transfers from Varo savings to Varo checking
  • You must meet specific qualifications to earn the highest APY on a Varo savings account.
  • Daily and monthly limits on cash and mobile check deposits
  • Only one checking and savings account option

Unlike Chime, which partners with The Bancorp Bank, N.A. and Stride Bank, N.A. to offer banking services and debit cards, Varo Bank provides its own checking and high-yield savings accounts but with a higher interest rate than Chime 9.

While Chime only offers a 2.00% (as of Oct. 25, 2023) APY on its savings account, Varo provides 5.00% (as of Mar. 19, 2024) on the first $5,000 deposited.10 To get the highest rate, you must receive a qualifying direct deposit of $1,000 or more and maintain a positive amount in your Varo Spending and Savings accounts. Any additional balance over $5,000 earns a lower APY.

Additionally, Varo offers budgeting tools, doesn’t charge monthly fees on its savings accounts, and provides access to over 55,000 ATMs through the Allpoint network. Varo will charge a $3 fee if you use an out-of-network ATM, and you can’t withdraw more than $1,000 per calendar day from your Varo account.

Read our full Varo review.

Or visit Varo.


  • Multiple account options, including checking, high-yield savings, money market, CDs, loans, and retirement accounts.
  • 0.25% (as of Sep. 18, 2023) APY on checking and 4.35% (as of Feb. 8, 2024) on savings accounts.
  • Fee-free ATMs
  • No physical locations
  • It does not accept cash deposits.

Ally Banks’ robust features make it one of the best online banks for people who want to keep all their finances at one company. The FDIC-insured, online-only bank offers a high-yield savings account with 4.35% (as of Feb. 8, 2024) interest and an interest checking account earning 0.25% (as of Sep. 18, 2023) interest.

Ally does not charge monthly maintenance or minimum balance fees and also doesn’t charge overdraft fees. It provides access to more than 43,000 ATMs through the Allpoint network without fees and will reimburse customers up to $10 monthly for fees charged by other ATMs.

Since Ally is online only, one of its main drawbacks is that it accepts no cash deposits. It does accept mobile checks, direct deposits, wire transfers, and checks can be mailed to Ally for deposit.

Read our full Ally review.

Or visit Ally.

Capital One

  • No minimum balance requirements
  • Access to more than 70,000 ATMs without fees
  • High APY on savings accounts and no account minimums
  • Limited physical branch options
  • Cash deposits are only accepted through Capital One branded ATMs
  • Average interest rates on CDs; money market accounts are not available

If you’re looking for online checking accounts, Capital One offers checking and savings accounts with no fees or minimum balance requirements. It has multiple account options, including ones specifically for kids and teens. Capital One’s primary checking account, 360 Checking, is an interest-bearing account that pays 0.10% (as of Jan. 10, 2024) on your account balance.

Its 4.35% (as of Mar. 4, 2024) APY on the 360 Performance Savings account is one of the highest rates on this list. However, Capital One’s interest rates on CDs are only average compared to other banks, offering 4.10%-5.25% (as of Sep. 7, 2023).

Capital One is one of the few digital banks with brick-and-mortar locations, though physical branches are limited and may be outside your area. It offers access to over 70,000 ATMs through the Allpoint and MoneyPass networks. Customers can only deposit cash at Capital One branded ATMs, though they can withdraw cash without fees from all in-network ATMs.

Read our full Capital One 360 review.

Or visit Capital One.


  • Multiple plans are available, including the free Standard Plan that allows you to send and receive money around the world.
  • Savings vaults earn interest
  • Send money in more than 28 currencies and a network of 55,000+ fee-free ATMs
  • ATM fees for withdrawals over $1,200 a month
  • Only one free account option; all other plans have monthly subscription fees
  • No cash or check deposit

Revolut is a financial technology company like Chime that offers users a single mobile banking app to manage their spending, saving, and investing needs. Revolut's banking services are provided by Metropolitan Commercial Bank (Member FDIC). Unlike Chime, which only provides a checking or savings account, Revolut also offers investment accounts so users can purchase shares of stocks and ETFs.

Revolut’s Standard Plan is free and offers no-fee currency exchanges up to $1,000 per month, so users can easily send or receive money for free in 28 different currencies. It has free ATM withdrawals at more than 55,000 ATMs in the Allpoint network.

Revolut’s Savings Vault feature allows users to save more by rounding-up purchases or establishing automatic transfers. Vaults earn 3.25%-4.25% (as of Sep. 18, 2023) APY, and potentially more, if you sign up for a Premium or Metal subscription, which cost up to $16.99 monthly.11

Visit Revolut.


  • Earn up to 3.30% on Rewards checking account
  • No monthly maintenance fees or balance requirements
  • Unlimited ATM fee reimbursement
  • No physical branches
  • Offers below-average rates on CDs
  • You may find higher savings rates elsewhere.

Axos Bank has multiple banking products, but its main feature is the interest-bearing checking account. The Rewards Checking account provides a base APY when customers set up a direct deposit and the Axos personal finance manager. Customers can earn up to 3.30% APY by meeting specific criteria, such as maintaining a minimum investment account balance with Axos and using one of their loan products.

Axos’s online savings account and CD rates aren’t as impressive as its checking account rates, but Axos is still a good option for people who primarily bank from their checking accounts. The high-yield savings account provides up to 0.61% (as of Mar. 6, 2024) APY, which is lower than you can find at other banks but is still higher than the national average of .40%.

Axos’s CDs only return 0.10%-0.20% (as of May 16, 2024) in interest on any term, and you will likely find higher rates elsewhere. Its high-yield money market account provides 0.25% (as of May 23, 2023) APY but requires a minimum balance of $1,000.

Learn more in our Axos Bank review.

Or visit Axos


  • No minimum monthly balance requirements or maintenance fees
  • Earn 5.00% APY12on Savings with eligible deposits.
  • Use pockets to spend and save for your goals
  • Cash deposits can only be made at Walmart using the ONE card.
  • $3 out-of-network ATM fees in addition to any fees charged by the ATM operator
  • It only offers a checking account and no dedicated savings account.

One is a financial company that partners with Coastal Community Bank to help customers spend, save, and grow their money all in the same place. It uses a single checking account broken up into pockets to help you save for specific goals. Customers earn up to 5.00% (as of Feb. 7, 2024) on their Save balances with eligible deposits and can enable an auto-save feature to round up purchases.

One has no monthly fees or account minimums. It uses the Allpoint Network of ATMs, but if you use any out-of-network ATMs, you’ll pay a $3 fee plus any fees the ATM operator charges.

Additionally, One only offers cash deposits through Walmart, and you must complete a deposit using the One card at a Walmart checkout or customer service station.13

Read our full One review.

Or visit One.

Mobile Banking With Cash Back & High Yield Savings

Earn up to 5% cash back14and 5.00% APY12on Savings with eligible deposits. FDIC insurance through Coastal Community Bank.15

Visit One

How to choose the best online banks like Chime

If you are interested in Chime's services but are looking for a bank that offers more features, consider some of the following to help you find the best bank.

Available account types

Chime has one checking and one savings account option. A bank like Ally or Capital One can provide multiple opportunities for checking and savings accounts, including free checking. One type of account may offer higher interest, while another may give cash-back rewards.

Consider fees and account minimums

Many online banks, including Chime (a financial technical company) and many on this list, don’t have account minimum balance requirements or charge fees. This makes them more appealing if you tend to carry lower balances because you won’t lose some of your hard-earned money by paying monthly fees.

Extra features

Some banks will provide enticing offers like cash back or bonuses to get you to bank with them. Consider all the options available and note any requirements you need to meet to get the perk or limited time frame. Some accounts, like Discover’s checking account, offer cashback on all purchases up to a specific dollar amount, while others may only provide cashback on a limited basis.

Interest rates

Many online banks offer higher rates than brick-and-mortar banks, but it often pays to seek out the highest rate available. Compare savings and investment account rates and seek an interest-bearing checking account.

Cash or check deposits

Only some people need a way to deposit cash or write checks. If you are uncomfortable without that feature, find a bank with deposit methods that work for you. If paper checks are part of their checking account instead of just a debit card, note any extra fees the bank may charge for printing or if there are any limits on the number of checks you can write each month.

Overdraft options

Some online bank accounts offer overdraft protection features like a line of credit or options to borrow small amounts of money to prevent overdrafts. For example, Varo offers Varo Advance, which allows you to borrow $20 to $500 if you qualify.

Featured Checking Accounts

Discover®️ Cashback Checking - Earn Cash Back

Earn 1% cash back on up to $3,000 in debit card purchases each month.3 No minimum deposit or balance. FDIC Insured.

Open Account
Earn up to $700

When you open a new U.S. Bank Smartly® Checking account and a Standard Savings account and complete qualifying activities. Subject to certain terms and limitations. Offer valid through June 27, 2024. Member FDIC. Offer may not be available if you live outside of the U.S. Bank footprint or are not an existing client of U.S. Bank or State Farm

Open and fund your accounts to earn up to $700
SoFi Checking & Savings - Earn Up to $300 When You Set Up Direct Deposit

Earn 4.60% APY7 and collect up to a $300 cash bonus with direct deposit or $5,000 or more in qualifying deposits.8 FDIC Insured.

Open Account

FAQ about the best online banks like Chime

Is Chime a good bank?

Chime is a financial technology company that partners with two banks to provide checking and savings accounts to its customers. Chime has many great features, like no monthly fees or minimum balances and relatively high-interest rates on its savings products, but it does not provide banking services directly.

Is MoneyLion better than Chime?

MoneyLion and Chime are both financial technology companies that partner with outside banks to provide financial products. Both companies offer debit cards, no minimum fees or minimum balance requirements, as well as access to a network of ATMs.16

Chime offers a Secured Chime Credit Builder Visa® Credit Card.17 18MoneyLion has a Credit Builder Plus option that lets you track your spending and earn cash back. MoneyLion also provides an investing account and can round up purchases into your investment portfolio.

Is SoFi or Chime better?

Chime is a financial technology company that offers simplicity as its primary feature. It has a single checking and savings account with a debit card. SoFi has many more financial products and offers a combined checking and saving account that earns up to 0.50% (as of Jan. 30, 2024) APY with direct deposit.

Deciding to use SoFi or Chime comes down to personal preference and what works best for your situation. Research each option and then pick the one that best fits your circumstances.

Best online banks like Chime: bottom line

Chime can be a suitable banking option if its simple style and offerings fit your life. If Chime’s accounts don’t work for you, check out banks like Varo, Ally, Axos, and Capital One to help you manage your money and potentially earn more in interest than you would with Chime.

As you search for the best banks, remember to pay attention to any fees the bank charges, the interest rate it offers on checking and savings accounts, and how easy it is for you to use and access its online features and ATMs.


In compiling this list of the best online banks like Chime, we determined areas that may be essential. These areas included account minimums, fees, and ATM access.

Keep in mind that we are not ranking these online banks in a certain order and did not review all available options. Note that some options on our list may be current or past FinanceBuzz partners.

Discover®️ Cashback Debit Benefits

  • Earn 1% cash back on up to $3,000 in debit card purchases each month3
  • No minimum deposit, no minimum balance, and no account fees
  • Access your paycheck up to 2 days early with Early Pay
  • 60K+ fee-free ATMs and make cash deposits at Walmart stores nationwide

Author Details

Kate Daugherty Kate Daugherty is a professional writer with a passion for providing others the head start they deserve on their financial journeys. Largely self-taught, Kate relied on books, blogs, and trial-and-error to learn how to budget and save for the future, all while working to pay back about $15,000 in student loans.

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