The popularity of online banking has led to the closure of physical bank locations, as consumers opt for the convenience of digital transactions. Online banks, also known as internet or digital banks, operate primarily or exclusively through digital platforms and offer a range of financial services similar to traditional banks. Here are some of the best online banks in January 2024:
- Ally Bank: No minimum opening deposits or monthly maintenance fees, offers a variety of financial products
- Capital One: Ranked number one by J.D. Power US National Banking Satisfaction Survey, no minimum deposit or balance requirements
- Discover Bank: Offers checking and savings accounts, money market and retirement accounts, and certificates of deposit
- Sofi: High-yield hybrid bank account with competitive APY, no fees or out-of-network ATM charges
These online banks provide convenience, competitive rates, and a range of financial products to meet the needs of digital-savvy consumers.
