It is the best online bank of 2018

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Can’t remember the last time you visited a bank branch? Maybe it’s time to move your money somewhere else.

If you can forgo physical branches and embrace features like mobile check deposit and online bill payment, you can avoid almost all common bank charges. You’ll also get an interest rate that shames payments from the nation’s biggest banks, according to data from

Although the acceptance of online banking has grown significantly in recent years – the American Bankers Association says 72% of Americans today do most of their banking through online or mobile platforms – it There are only a handful of serious players that allow you to take your checking and savings accounts entirely online. Yet even with a limited number of online banks, the competition for the top spot was fierce. As with all of our Top Bank winners, Money focused on banks offering free accounts and ATMs. But since all of your banking would be digital, in this category we weighed heavily on customer satisfaction with both online and mobile banking.

Winner: Ally Bank

Why it wins: Ally’s checking account is designed for convenience, with free ATMs, $ 10 ATM supplement refunds, and no requirement to earn 0.1% interest. In addition, he has an exceptional savings account, posting a rate of 1.9%, the highest in the sector. Ally also stood out with higher mobile app ratings than its competitors and 24-hour customer service.

Caveat: One of the best checking accounts is offered by Axos Bank (formerly Bank of the Internet USA), double winner in this category. But that account does require jumping through some hoops for the perks: You need a $ 1,000 direct deposit and 15 debit card purchases per month to qualify for the 1.25% interest rate.

Key Allied Accounts

Interest verification

  • Monthly service charge: $ 0
  • Outdoor ATM Fee: $ 0, with $ 10 per month to reimburse ATM owner fees.
  • Interest: 0.1% on all balances

Online savings

  • Monthly service charge: $ 0
  • Interest: 1.9%

Silver in partnership with to produce the ranking of the best banks this year. has provided account terms for over 175 financial institutions, and our team reviewed account minimums and qualifications, ATM fees, overdraft fees, and interest rates. In selecting the finalists, priority was given to checking and savings accounts with no monthly fees or no monthly fees, free ATMs and higher interest rates. We also used mobile app ratings from Google Play and iTunes stores. The Money editing team independently verified the information in August and September.

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David A. Albanese