Where Is The Best Online Checking Account? Keeping up with your finances can feel overwhelming, especially with something as important as a checking account. Whether you're an old hat at banking or looking to open your first-ever checking account, finding the right place to keep your money is key to your continued financial security. Whether you're shopping for better benefits, want a new banking experience, or your old bank doesn't support you the way you need, there are seemingly endless options to sift through.
Best Option
Chase (JPMorgan Chase & Co. ) has been an established financial institution for almost 200 years. It is one of the few banks that operates physical branches as well as a full online banking experience. Chase was originally known as Chase Manhattan Bank before it merged with J. P. Morgan & Co. in 2000. Chase currently offers more than 4,700 local branches and around 15,000 ATMs nationwide. In 2022, Chase earned its place as the largest bank in the United States.
Three checking categories with 8 checking accounts
When it comes to checking accounts, Chase offers three main categories - Everyday Checking, Kids & Students Checking, and Premium Checking - each with several account options to fit different financial needs. Here's how they break down:
Everyday Checking
Kids and Students Checking
Premium Checking
All accounts can have their fees waived
All of the accounts with Chase have a fee at the get-go, and all accounts can have the fees waived by keeping the correct amount (or making regular deposits) in your checking account. For example, the Chase Premier Plus Checking account has a $25 monthly fee unless you keep an average daily balance of $15,000 in any qualifying Chase checking or savings account. The $4.95 monthly fee for the Chase Secure Banking account is waived as long as you make an Electronic deposit of $250 or more into the account each month. The premium accounts are a little pricier, but these are designed more for business owners. For example, the $25 monthly fee for the Chase Sapphire Banking account is waived if your average daily balance is $75,000 throughout the month.
In-person and in-app security is top-notch
Since Chase is a brick-and-mortar bank as well as an online institution, you can access your account any way you prefer. You can use in-person ATMs, go into a local branch if you have questions, or handle everything on the mobile apps. The app allows you to see all of your accounts in one place and offers you top-level security. If you notice a purchase or transaction that you didn't authorize, you can alert Chase through the mobile app and Chase will reimburse you right away.
High ratings from millions of members
Chase is a massive banking institution, and it currently holds a solid "A+" rating from the Better Business Bureau. On top of that, the company receives high praise from customers who are using Chase. On Apple, Chase holds a 4.8-star average out of 5 across over 6 million reviews. Chase's reputation is just as good on the Google Play store with a 4.4-star average out of over 50 million users. In general, customers love the online experience of Chase. Those who specifically used the checking accounts said that they were easy to open, and the requirements to waive the fees were simple and most customers never paid anything for their accounts.
Top pick: best all-around banking experience
With tons of options for different account types, top-notch ratings from customers, and the ability to open your account and maintain it for free, Chase is a top pick for your next checking account. With tons of local branches and a well-rated online experience, Chase is one of the largest financial institutions in the US and stands out for its security and customer service. While some banks might offer more in terms of interest-bearing checking accounts, Chase offers a suite of features that cover everything from teen banking to fee-free international purchases. If you're looking for the ultimate one-stop shop with a solid reputation, Chase is your best bet. For these reasons, it earns a 5-star rating in our review.
Great
CiT Bank is a division of First Citizens Bank that opened in 2009. Like a few other eBanking options in our review, CiT Bank offers just one checking account. As a fully online bank, you can get service in all 50 states, but there are no brick-and-mortar branches to visit. All accounts at CiT Bank are insured through the FDIC. CiT Bank offers online banking, mobile banking, Zelle compatibility, money transfers, and card controls, the same as a traditional bank. If you're looking for a one-stop shop, you can also find Money Market accounts, Savings accounts, and CDs at CiT Bank.
1 interest-bearing account
To keep it simple, CiT Bank offers just one checking account. The eChecking Account from CiT Bank offers a range of impressive features including Zelle, Bill Pay, Samsung Pay, and Apple Pay. CiT Bank's eChecking Account is also interest-bearing. It's structured so that accounts with larger balances earn a higher rate of interest.
Zero fees and up to $30 in reimbursement
There are no monthly fees or minimum balances required with this eChecking Account. CiT Bank also doesn't charge anything for using ATMs, and if you need to use an out-of-network ATM from another bank, CiT Bank will reimburse you up to $30 per month in fees charged by that bank. You can also make unlimited withdrawals from your eChecking Account through the mobile app.
User-friendly banking app
Since CiT Bank is an entirely online financial institution, the only ways to access your account is via the mobile app or by using your desktop computer. You can find a mobile app for CiT Bank at both the Google Play store and the Apple Store. The app is notably easy to use (which we'd expect from a totally online bank) and offers all of the main features including managing multiple accounts and transfers right from your mobile device.
Praise for savings and eChecking APYs
According to our research, CiT Bank holds an "A-" rating from the Better Business Bureau. The only reason it doesn't have a higher "A" or "A+" rating (according to the BBB file) is that CiT Bank failed to respond to 1 complaint. On the mobile app stores, CiT Bank has an impressive overall reputation. It holds a 4.6-star rating on the Google Play store and a 4.8-star average rating on the Apple store. Customers noted that they were directed to CiT Bank by financial advisors who recommended the platform for improving savings. There is specific praise for the checking account for having decent APYs and zero monthly fees. Customers particularly liked that they were reimbursed for out-of-network ATM fees.
Best simple account with interest
CiT Bank is a solid option for those looking for simple online checking, with a lot of features you might not expect from a 100% free account. You can use outside ATMs with no charge, send money with Zelle, and even enjoy interest on your checking account balance. While there aren't a lot of options for business owners, or any more advanced checking accounts, if you're looking for a free interest-bearing option, CiT Bank is the one for you. For these reasons, it earns an almost-perfect score in our review.
Great
SoFi is an online banking platform that's been around since 2011. It officially became its own chartered bank in 2022, offering combination checking and savings accounts. The philosophy at SoFi is "Get your money right", and they do that by offering services to tackle debt, build your savings, teach you about investing, and help you plan for your future. SoFi is also an award-winning bank with three 2024 awards from Investor Care, MoneyRates, and Nerdwallet. SoFi accounts are also insured by the FDIC up to $2 million.
Bundled savings and checking accounts
To open an account, all you need is a qualifying direct deposit. On top of features like overdraft protection, SoFi also provides interest on your balance. However, even though checking and savings are bundled together, they earn different APYs. The SoFi checking account earns a far lower rate of interest than the savings account, which is common. SoFi also offers 2-day early paychecks.
Fee-free for most uses
There are no fees associated with a SoFi account. This includes no overdraft fees, no minimum balance fees, and no monthly charges for maintenance. You'll also get access to 55,000+ fee-free ATMs throughout the Allpoint Network. You do have the option to deposit cash, but it must be done through a GreenDot retailer, and there's a $4.95 fee for using this service.
Desktop and secure mobile app
SoFi is online-only, so you will be accessing your account from your desktop or through the SoFi mobile app. The app has solid security features like 2-factor authentication to log in, and you have the ability to lock or change your debit and credit cards. The app also helps you make domestic wire transfers and person-to-person payments any time.
Customers love the loan process here
SoFi currently holds an "A+" rating from the Better Business Bureau. On top of that, our research shows that it has competitive ratings from third-party review sites like a 4.4-star average on Trustpilot. In general, customers love how easy it is to sign up for SoFi. Besides enjoying the many ATMs across the US, SoFi customers also loved the access to loans and other banking features not always offered on free checking accounts. However, the majority of reviews cover the loan process rather than the checking accounts themselves. On the other hand, SoFi does earn solid ratings on its mobile app with 4.8 stars out of 5 from Apple and a 4-star average on Google Play.
Best choice for interest-bearing checking
If you're looking for a free checking account that has one of the most competitive interest rates out there today, SoFi stands out as a top pick. However, there aren't any business checking accounts available with this platform, and it misses some of the features offered by our top two, so it earns third place in our review. However, it is highly competitive and a top pick for those looking for a free personal checking account, so it still earns a very high rating overall.
Very Good
Current is a digital banking app that stands out for offering checking accounts with zero monthly fees. While this company has only been around for about 10 years, it already offers free access to over 40,000 ATMs across the US. The services at Current are handled by Choice Financial Group, and Current is headquartered in New York City. According to our research, this provider is backed by a team of 200+ engineers, data analysts, and customer service reps who make sure they solve your problems no matter how small. Current is also insured by the FDIC, including up to $250,000 of your funds.
1 online account
There is only one online checking account available at Current, but it stands out by not requiring any monthly maintenance fees. You can also expect to receive free access to ATMs. For your in-network withdrawals, you can take out over $40,000 without incurring any kind of fee. However, if you're looking for a site that offers check-writing, you're out of luck with Current. On the other hand, you can pay bills and grab a Current debit card attached to your checking account.
App-only experience
Now, Current has a feature that might be a drawback for some: this banking software is app-only. No, there's no desktop version of Current. In order to set up your account, you'll need to put in your phone number (if you're browsing Current's website) and you'll get a link to download the mobile app from the corresponding app store. You can also use your mobile device to download the app directly from Google Play or Apple if you want to skip the step from the website. While this can create a streamlined experience, some customers who are used to being able to track their finances on a desktop (with a larger screen) may not love the app-only experience offered at Current.
Impressive uptick in praise
Current has seriously improved its reputation over the last few years. While it previously had reviews that were all over the place, our research shows that Current's new reputation is an impressive one. Current holds an "A" rating and accreditation from the Better Business Bureau. It also holds a 4.5-star average rating on Trustpilot where reviewers who used the bank praised the simplicity of signing up and the positive customer service experiences. Most customers have been using the app for multiple years to manage their money, credit scores, and more. We also checked out the app ratings (especially since this bank is app-only), and the reviews are solid there too. Google Play shows Current holds a 4.6-star average while Apple shows a 4.8-star average rating.
Simple, easy, and perfect for mobile fans
Current is a solid option for your bottom line. While it isn't an interest-bearing checking account or ideal for business owners, Current offers free checking, fee-free ATM access, and a debit card. While the app-only experience may not be for everyone, those who are using the app have high praise for the experience. From offering great customer service to just managing your money in one convenient place, Current is a top pick for many looking for a simplified personal banking experience.
Good
A banking institution that opened in 2000, Axos claims to be a "top player" in finance and technology. Promising 24-hour access to your money, this is a 100% online bank that can help you avoid some of the fees involved for banks that operate local branches. Axos is insured through the FDIC, and this institution offers both personal and business banking. Whether you want to open your next checking account, to secure a personal loan, or to manage your investment portfolio, this online bank offers a full one-stop-shop approach.
7 different accounts for personal and business
Axos offers three types of checking accounts for personal banking and two options for business checking. For personal accounts, you can choose between Essential Checking, Rewards Checking, and Cashback Checking. Here's what you can expect from the different tiers:
For business banking, you can choose between Basic Business Checking or Business Interest Checking. The Basic Business account includes free international and domestic wire transfers. The Business Interest account also earns interest on its balance. Axos offers specialized accounts for teens (First Checking) and 55+ accounts (Golden Checking) that offer interest on deposits.
Zero fees and costs for personal checking
All of Axos' three main checking accounts for personal banking do not have any kind of monthly fees. The Essential Checking and Rewards Checking both offer $0 to open the account and $0 overdraft fees. For business accounts, the Basic Business Checking has no maintenance fees, and no required deposit or minimum balance fees. The Business Interest account has a $100 minimum opening deposit and will not charge you a monthly fee as long as you have a $5,000 balance in the account every day.
91,000 in-network ATMs
Since Axos is a 100% online bank, the best way to access your money is through the mobile app. You can use any of the Axos features on the go including borrowing, investing, or moving money in your checking account. You can either scan the QR code to download the app directly from the Axos website or download it from your preferred provider. If you're worried about how to get money in your hands. Axos has around 91,000 ATMs that are in-network through the Allpoint Network; this way you can withdraw cash without out-of-network fees.
The bank is good, but the app needs help
Axos has a stellar rating from the Better Business Bureau, including an "A+" rating and accreditation. It also has standout reviews on both the Apple and the Google Play stores. From reviewers on Google, Axos has a 4.5-star average rating out of 5; however, recent reviews note that on Android phones, the app for Axos has a range of issues including slow loading, the app regularly crashing, and lagging. On the Apple store, some of the reviews are similar. While many customers have high praise for the bank, the concerns about bugs on the mobile app continue to be mentioned in comments from reviewers. Since this is a fully online bank, we expect a much better mobile experience than customers are currency receiving.
Needs to update its mobile experience
While Axos is a competitive bank with free checking accounts and options to earn interest on your deposits, it isn't as competitive with its user experience as some other fully online banking institutions. For now, Axos earns a solid rating in our review, with the opportunity to earn a higher rating in the future if it puts some effort into improving its mobile experience. In this day and age, a fully online bank should have a seamless app experience. Until it does, Axos earns a slightly lower rating than its other features might deserve.
Average
Bank of America is one of the top financial institutions in the world. It offers services to individuals, small- and middle-market businesses, large corporations, and governments. The oldest part of Bank of America dates back 240 years. It promises a constant push to grow so that your funds are always going somewhere. The entire company is built on one question, "What would you like the power to do?" and it delivers on this philosophy with a range of in-person banking locations as well as online services for saving, investing, mortgages, and more.
4 personal checking accounts to choose from
There are four types of checking accounts for personal banking at Bank of America: Advantage Plus, Advantage Relationship, SafeBalance, and Advantage SafeBalance. If you're looking to open a business checking account, you can grab one of two business checking accounts: Business Advantage Fundamentals or a Business Advantage Relationship account. For the personal checking accounts, you can find the following features:
For the two business accounts, you can expect linked profiles between your business and personal accounts, access to Zelle for your business, a cash flow monitor, and integration with QuickBooks. The Business Advantage Relationship plan includes zero fees for incoming wires, stop payments, and electronic deposits. Some accounts also include interest; however, the APY numbers are not available on the Bank of America website.
Minimal fees and most are waived
For the personal accounts, you'll need to keep a few deposit amounts and fees in mind. Both the Advantage Plus and the Advantage Relationship accounts require a $100 initial deposit to open the account. Advantage Plus has a maintenance fee of $12 per month unless you make a deposit of $250 or more or maintain a minimum balance of $1,500 each month. The Advantage Relationship plan has a $25 fee each month unless you maintain a minimum balance of $20,000 or become a member of the Preferred Rewards program at Bank of America. For the SafeBalance accounts, the initial deposit is $25, and the maintenance fee is $4.95 per month unless you keep a minimum balance of $500 in the account every day or the main account name is under an individual who is younger than 25. The monthly fees for the business accounts are $16 for the Fundamentals unless you keep $5,000 in your account every month and $29.95 for the Relationship unless you keep a $15,000 average monthly balance in linked business deposit accounts.
Get your service in person or online
Since Bank of America is a traditional financial institution, you can either do your banking in person at a local Bank of America branch or complete your banking online using the website or mobile apps. The Bank of America mobile app is offered on both the Apple and Google Play stores. You can also get free withdrawals from Bank of America ATMs, withdraw from CIRRUS ATMs, or withdraw from any ATM with the MasterCard or Visa symbols on them, though these may incur fees.
High praise for the mobile apps
Currently, Bank of America holds an "A" rating and accreditation from the Better Business Bureau. However, it has a notice for government action in 2023. According to the action notice, Bank of America is at fault for business marketplace misconduct with Bank of America vs. the United States of America Consumer Financial Protection Bureau. There was no admission of guilt on the part of Bank of America as of the time of our review. On top of this, Bank of America has a concerning 1.3-star average rating on Trustpilot, where customers complained about the service team at Bank of America. Some customers waited on hold for over 30 minutes. On the other hand, customers who used the mobile apps rated Bank of America between 4.6 stars (on Google Play) and 4.8 stars out of 5 (on Apple). There is high praise for the app and its user-friendliness.
A brick-and-mortar bank with history
If you're looking for a financial institution that includes in-person branches and dedicated ATMs, Bank of America may be a good option for you. With plenty of ways to waive fees for checking accounts and minimal initial deposits, Bank of America offers affordable checking and a one-stop shop for banking regardless of whether you want business or personal accounts. However, at the moment, Bank of America lacks transparency on their checking account APYs which may be a downside if you're looking for an interest-bearing account. With a 240-year history, Bank of America stands out from the pack. However, the recent action against the company raises a slight red flag. For now, it earns a balanced score rather than a higher rating.
Average
Varo is an online-only banking service that has been in business for almost 10 years. It currently offers a single option for checking known as the Varo Bank Account. Rather than offering multiple types of accounts, this bank focuses on simplicity. While the name Varo Bank Account might sound like a savings account, this is 100% a fully functioning checking account. There is a separate Varo Savings Account listed on the site if you want to add that service too.
1 checking account
The Varo Bank Account comes with features like early direct deposit, access to over 40,000 fee-free ATMs, free cash deposits, and automatic cashback. There are no fees associated with your checking account, and the fee-free deposits can be completed at any local CVS. You can also expect to get paid up to 2 days early on your direct deposits.
Totally free of any fees
When Varo says it's 100% fee-free, they mean it. There are zero monthly fees, no overdraft fees, no minimum balance requirements, and no in-network ATM fees. Plus, with insurance through the FDIC, all of your funds at Varo are extremely secure. Varo is a nationally chartered bank, and you can expect your funds to be insured up to $250,000.
Top-rated mobile app
Since Varo is an online bank, you can access your money either through the Varo website or the mobile app. There aren't any bank branches for this provider, so you won't need to worry about finding a brick-and-mortar location in your area. Plus, Varo has one of the highest-scoring mobile apps in our review with a 4.9-star average on the Apple store, so you know you're going to get a great in-app experience.
Long waits for customer service
Our research shows that Varo holds an "A-" rating and accreditation with the Better Business Bureau. On third-party review sites, the feedback is somewhat mixed with a 3.8-star average out of 5 on Trustpilot. Most customers like their experiences with Varo, though some complain about having issues with mobile deposits. Others noted that they rarely had issues with Varo, but when they did, it was hard to get a hold of customer service. There was one customer who tried for 8 days to get a hold of a service rep and never heard back. Many customers use the chatbot feature but find this is less helpful than talking to a representative.
Best online checking account for those who make cash deposits
While most of the features at Varo are impressive, its slow customer service resolution is a problem. While not all customers have issues with Varo's service time, the ones that do can wait hours or even days to hear back. If you have a problem with your finances, you want it resolved ASAP. For this reason, Varo earns a more balanced score in our review rather than a higher rating. However, if you want a simplified free checking account it's still worth checking out, especially if you want to make free cash deposits on the regular.
Fair
Chime is an online-only banking platform that has been operating for a decade. This bank guarantees no fees or minimum balance requirements, sticking to its motto: "Your account shouldn't cost you money." The service keeps things simple by offering just one checking account and one savings account, making it a solid choice if you prefer straightforward banking without extra complications. Any funds held at Chime are FDIC insured up to $250,000, giving you peace of mind while you bank.
Free account with zero fees
Unlike other financial institutions, Chime only offers one checking account to keep things simple. The Chime Checking Account offers a range of helpful services attached to the account as soon as you open it. The two big ones? There are no overdraft or maintenance fees. The application is also quick and simple: you can have a new checking account in 2 minutes. You can also expect benefits like:
Chime also offers the "SpotMe" service which lets you overdraw your account by up to $200 for debit purchases. This has no fees, but you do need to deposit at least $200 into your checking account every month to qualify. However, if you don't feel like keeping up your deposits, you still get all the other features for free.
Some account limits
The only limitations for Chime are a $2,000 monthly limit if you send money to family and friends via your Chime account, and a $2.50 fee if you go to an ATM out of network. However, there are over 50,000 in-network ATMs through Chime, so you usually won't need to worry about this at all. You may also have some limitations on daily spending, but these aren't listed until you open your account and browse "Account Info" on the Chime app.
Solid mobile experience
As a fully online bank, Chime has an impressive mobile app to help you keep your finances in order. You can expect to be able to see your daily account balance and transaction alerts. You can also make mobile check deposits and change card permissions on the app. If you have multiple Chime accounts (the bank offers a savings option too), you can view all of your account info in one place.
Some concerns about supporting customers
Regrettably, Chime's reputation is somewhat hit-or-miss depending on which third-party review site you check. For example, Chime holds a "B-" rating from the Better Business Bureau due to over 7,000 complaints filed against the business and government action against Chime. The most recent of these was in 2024 when the company appears to have failed to provide refunds according to its policy. On the mobile apps, however, Chime has an impressive reputation with a 4.7-star average on the Google Play store and a 4.8-star average on Apple. However, on Trustpilot, Chime holds a 3.5-star average out of 5. In general, customers appreciate how easy it is to use, but there are concerns about misleading numbers. For example, one user said that despite Chime advertising a $200 limit for the SpotMe program, her SpotMe limit was just $80.
Best for those who want a simple account
While Chime is a great option if you're interested in a simple checking account with no fees, it may not be ideal for everyone. For one, there aren't any other checking account options, so if you need business checking or the ability to do wire transfers, you would need to go with a different financial institution. On top of that, the negative reviews and government action against the company in 2024 raise some red flags about how trustworthy this site is with your money.
Subpar
US Bank is a financial institution with more than 90 years under its belt. Offering both an in-person and online banking experience, you'll have access to a full suite of financial services. These include checking and savings accounts, loans, credit cards, investment and retirement, and more. You can also find a range of services for businesses at US Bank, including business checking and loans.
2 personal accounts and 3 business accounts
There are technically two accounts at US Bank that function like a checking account, but only one is labeled that way. The Smartly Checking is the main checking account that offers features like Smart Rewards which include cash-back deals, free discounts on loans, and fee waivers when using non-network ATMs. The other account type is the Safe Debit Account, which includes a Visa debit card, no overdraft fees, and access for children on your account. If you're looking for a business checking there are three tiers:
The main differences are the number of free transactions per month (125 for Silver, 350 for Gold, and 550 for Platinum) and lower fees for additional transactions as you go up to a higher tier. Some of the business tiers also earn interest depending on your monthly balance.
Most accounts can waive fees
Most of the checking accounts at US Bank have monthly fees, but they can easily be waived by following a few steps. The only account that doesn't start with a monthly fee is the Silver tier for business checking. Here's how the fees break down for the rest of the checking accounts:
Easy access in-person and online
Since this is an in-person and online bank, you can access your account by going into a local branch or by using the desktop or mobile app versions of US Bank. The website is easy to use, and the mobile app comes highly rated on both the Apple and Google Play stores. Either way, you can count on reliable access to your funds 24/7.
Issues with customer service
According to our research, US Bank holds an "A-" rating and accreditation from the Better Business Bureau. However, that positive rating is not reflected on other third-party review sites like Trustpilot, where US Bank holds an abysmal average of 1.2 stars out of 5. Many of the complaints cover issues of lackluster customer service, poor resolutions to issues, and major problems with wire transfers for some customers. Despite promising solid customer service, US Bank doesn't appear to deliver. If you're confident you can do your banking on your own, that's one thing, but if you need help, our research suggests that you may want to prepare for long phone calls and a lot of hassle.
Best if you are comfortable solving problems yourself
While the range of different checking accounts is helpful, the concerns customers have with US Bank's service raise red flags. While there's nothing concerning about the checking accounts in particular, US Bank's reputation for long phone calls and issues resolving problems for customers makes us a little wary of recommending this for your next checking account. For this reason, US Bank earns a lower rating until it can improve its reputation for taking care of customers.
Poor
Citi is a well-established bank that offers a traditional in-person experience as well as online banking services. Citi is a global banking institution, and on top of providing a few different checking account options, you can open credit cards, mortgages, personal loans, commercial loans, and lines of credit through Citi. With over 200 years of experience, we expected Citi to have a solid reputation; however, this was not the case.
Regular and Relationship accounts
Citi provides two primary checking options: Regular accounts and Access accounts. The Regular Checking account is an option that includes unlimited check writing through your account. You can also expect features like overdraft protection and no fees if you return an item purchased with your debit card. The Access Checking account is made for those who want to do checkless banking. You get the same features as with Regular Checking just without the ability to write checks. Citi also offers Relationship Tiers for higher-level checking accounts including Citi Priority, Citigold, and Citigold Private Client. To qualify for these, you need to put in a minimum of $30,000.
Fees can be waived with direct deposits
For the two main accounts that don't require a $30,000 deposit, Citi does charge fees, but these can be waived depending on how much you deposit. For example, the Regular Checking costs $15 per month (the first three months are free). You can waive this fee by having a Relationship tier (more than $30,000 in the account) or by depositing a minimum of $250 per month through Enhance Direct Deposits. There is also a $2.50 fee for non-Citi ATMs which is also waived with the same conditions. The Access Checking has identical terms, except the monthly fee is $5 if you don't meet the criteria.
App should be just as good as in-person service
Since Citi is a traditional and online bank, you can access your account either by finding a local Citi branch in your area or by downloading the mobile app. Despite being an in-person bank first, Citi promises that its mobile experience will replace everything you need to do with your checking or savings account (including opening or closing one) without ever setting foot in a local branch. The app allows you to make mobile deposits, check your recent transactions, change card activation status and permissions, and transfer funds globally between any Citi account.
Bottom-tier ratings across the board
Regrettably, Citi holds an "F" rating from the Better Business Bureau. According to the BBB, the reasons for this rating include complaints that were filed against the business that were never resolved and 11 complaints where Citi didn't even respond to the customer. The news is pretty bad on other third-party review sites as well. Our research shows that Citi's average rating on Trustpilot is just 1.2 stars out of 5. Customers complain about Citi withholding money, issues with making transfers, and terrible customer service where most issues are not resolved and customers find reps to be rude and unhelpful.
Not worth the worries
Choosing where to open your online checking account is an important decision, and you want to go with a bank you can trust. Currently, that's not going to be Citi. With minimal options for checking accounts and a range of highly concerning reviews, Citi stands out as a service you might want to avoid. Bottom line? We expect better from a bank that's considered a heavy hitter in the industry.
Continued from above...
Keeping up with your finances can feel overwhelming, especially with something as important as a checking account. Whether you're an old hat at banking or looking to open your first-ever checking account, finding the right place to keep your money is key to your continued financial security. Whether you're shopping for better benefits, want a new banking experience, or your old bank doesn't support you the way you need, there are seemingly endless options to sift through.
But first, make sure you're getting the right account. A checking account is a bank account designed for those who make frequent withdrawals and deposits. Checking accounts offer a way to keep your money safe but "liquid" (you can use your money like cash whenever you want), and you can withdraw money with a check, debit card, at an ATM, and via electronic transfers.
You generally won't have transfer fees if you send money through a checking account, and most people use this account to pay bills or send money through bank-partnered money programs like Zelle. You don't need to have another account with a bank to qualify, either. So, you don't need a credit card or savings account to get a checking account at your chosen financial institution.
Now, checking accounts are not all the same. You'll find three primary types to choose from including free, interest-bearing, and premium accounts. Free checking accounts have no monthly fees or minimum balances, and these are the standard accounts most people use. Interest-bearing accounts allow you to earn interest like your savings account. Premium accounts usually have a cost to keep them open (paid monthly), and you may be required to keep a minimum balance. The benefits for these higher-tier accounts include waived fees for ATMs, additional interest on deposits, overdraft protection, and higher levels of customer service.
Because there are so many banks out there, from traditional banks with in-person locations to online-only financial institutions, it can be hard to know where to look first to open a new checking account. If you're not sure where to start this financial journey, we've got a few factors to consider that might help:
To help you find the right place to open your next online checking account, Top Consumer Reviews has reviewed and ranked the most popular financial institutions out there today. This way you can deposit your hard-earned money in an account you trust and get back to saving and spending as much as you like!
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