Deciding which bank works best for you and your finances is a personal decision. But with so many options available, it can be tough to know where to start. That’s where we come in. In this post, we’ll cover the best online banks of 2023. We’ll compare features, fees, and more to help you decide which bank is the right fit for you.
So whether you’re looking for the best interest rates or the most user-friendly interface, read on for our top picks. Picking the right online bank is a lot like picking the right anything else – there are a lot of options out there, and it can be hard to know which one is right for you.
That’s why we’ve put together a list of the best online banks of 2023, so you can make an informed decision about where to put your money. We’ve considered everything from interest rates to fees to customer service, and we’ve found the banks that offer the best all-around experience.
So whether you’re looking for a new place to keep your savings or you’re ready to switch your checking account, these are the banks you should be considering.
American Express® National Bank
American Express National Bank is one of the best online banks available today. They offer a wide variety of features and benefits that make them a great choice for anyone looking for an online bank.
Some of the features that American Express National Bank offers include:
-A wide variety of deposit options including checking, savings, and money market accounts
-A user-friendly website that makes it easy to manage your account and conduct transactions
-Competitive interest rates on deposits
-A mobile app that allows you to bank on the go
-24/7 customer service support
If you’re looking for an online bank that offers a comprehensive suite of features and benefits, American Express National Bank is a great option.
Best for High Yields: CIT Bank
CIT Bank offers one of the highest-yield savings account options on the market, with a current APY of 1.85%. If you’re looking to maximize your earnings potential, CIT Bank is a great option to consider.
In addition to its high-yield savings account, CIT Bank also offers a variety of other products and services that can help you reach your financial goals. Their online platform is easy to use and navigate, making it a great choice for those who are new to online banking.
If you’re looking for an online bank that can offer you high yields and a variety of products and services, CIT Bank is a great option to consider.
Best for Investors: Wealthfront
Wealthfront is an online financial advisor that provides personalized investment plans for its clients. The company offers a wide range of investment options, including stocks, bonds, and ETFs. Wealthfront also provides tax-advantaged accounts, such as IRAs and Roth IRAs.
Wealthfront is a great choice for investors who want professional guidance and a wide range of investment choices. The company’s fees are very reasonable, and its account minimum is only $500.
Best for Customer Support: Albert
Albert is the best online bank for customer support. They offer 24/7 customer service, and their team is always willing to help with any questions you may have. They also offer a great mobile app that makes it easy to bank on the go.
If you’re looking for a bank that offers great customer support, Albert is a great option. They offer 24/7 customer support via phone, email, and live chat, so you can always get help when you need it. Plus, their team is super friendly and knowledgeable, so they can help with anything you need.
Best for Overall Potential Returns: Tellus
There are a lot of online banks these days, but not all of them offer the same potential for returns. Tellus is one of the best online banks when it comes to overall potential returns.
Tellus offers high-interest rates on savings accounts and CDs, making it a great choice for anyone looking to maximize their earnings. In addition, Tellus also offers a number of other perks, such as no monthly fees, 24/7 customer support, and mobile banking.
If you’re looking for an online bank that offers the best potential for returns, Tellus is a great option to consider.
Best for Automated Budgeting: Douugh
If you’re looking for a bank that offers automated budgeting, Douugh is a great option. With Dough, you can connect all of your accounts and bills in one place. Then, the app will create a personalized budget for you based on your spending habits. You can also set up goal tracking and get notifications when you’re approaching your budget limits. Plus, there’s no minimum balance required to open an account.
If you’re looking for a bank that offers automated budgeting features, Douugh is a great option. With Douugh, you can connect all of your financial accounts and set up a budget based on your income and expenses. The app will then automatically track your spending and help you stay on track. You can also set up goals and track your progress over time.
Douugh is a great option for anyone who wants to take control of their finances and get a better understanding of where their money is going. The app is free to use, and there are no hidden fees or charges.
Best for Teens and Young People: Copper Banking
If you’re a teenager or young adult, you might be looking for a banking option that is tailored specifically for people your age. In that case, you should check out Copper Banking. This online bank offers products and services that are designed to meet the needs of younger people. For example, they offer a mobile app that makes it easy to track your spending and manage your finances on the go. Plus, they have no monthly fees or minimum balance requirements, so you can start saving right away.
Copper is a new type of online bank that is specifically tailored for teenagers and young people. Copper offers features such as spending tracking, budgeting tools, and educational resources to help young people manage their money responsibly. Copper also has no monthly fees or minimum balance requirements, making it an affordable option for teenagers and young people.
Best for Freelancers and Self-Employed People: Lili
Lili is a banking app that is specifically designed for freelancers and self-employed people. It offers features such as invoicing, expense tracking, and tax preparation. This makes it a great option for those who are looking for an all-in-one solution for managing their finances.
Lili also has no monthly fees or minimum balance requirements. This makes it a good option for those who are just starting out or who don’t have a lot of money to work with.
One downside of Lili is that it is only available in the US. However, if you are a freelancer or self-employed person in the US, then Lili is definitely worth checking out.
Best for Potential Returns on Savings & Spending: PrizePoo
the prize pool is an online bank that offers high potential returns on savings and spending. Their interest rates are some of the highest in the industry, and their fees are very low. They also offer a great rewards program, which gives you cash back on your spending. Overall, they are a great option for anyone looking to get the most out of their savings and spending.
Best for Savers: Quontic Bank
If you’re looking for a bank that offers high-interest rates on savings accounts and doesn’t charge monthly fees, Quontic Bank is a great option. This online bank offers a competitive 0.50% APY on its savings account, and there are no monthly fees or minimum balance requirements. You can open an account with as little as $1, and you’ll earn interest on your entire balance.
Quontic Bank also offers a great checking account option for those who want to avoid monthly fees. Its Free Checking Account doesn’t have any monthly service charges, and you can get up to $10 in foreign ATM fee refunds per statement cycle. There is also a $100 minimum opening deposit requirement.
If you’re looking for an online bank that offers high-interest rates and no monthly fees, Quontic Bank is a great option.
Best for Borrowers: Discover Bank
Discover Bank has consistently ranked among the best online banks thanks to its strong interest rates, robust mobile app, and no-fee policies. For borrowers, Discover Bank is a great option for both personal and business banking.
Personal loan rates at Discover Bank are some of the most competitive in the industry, with APRs starting at just 6.99%. You can also get a 0% APR intro period on balance transfers and cash advances for 14 months.
There are no fees for account maintenance, foreign transactions, or overdrafts. You can also get up to $600 in cellular telephone protection if you pay your monthly bill with your Discover card.
Discover also offers business banking products and services including loans, credit cards, and merchant services. Business loans have rates as low as 7.99% APR and terms of up to 5 years. There are no annual fees for business credit cards, and you can get up to 1% cash back on eligible purchases.