Everyone needs to open a checking account, but not everyone has the time to take the trip to the bank to do so. That, however, is why several banks now allow customers to open up their accounts online. In addition to convenience, online checking accounts often offer competitive interest rates as well as zero fees, both of which are done to attract new customers to various bank branches.
When something becomes popular, that’s when an abundance of options appear on the market. We have seen that with online checking accounts. As a result, we have compiled three of the top online checking accounts so that your financial needs can be met in the least frustrating way possible.
1. Capital One 360
If you’re looking for an online checking account that offers the best overdraft policies, consider Capital One 360. With this service, individuals have options, and unlike traditional banks that charge an overdraft fee, Capital One allows individuals to avoid overdrafts. Capital One 360 Checking also offers virtually no fees and fee-free access to roughly 40,000 ATMs.
2. Bank of Internet USA Rewards Checking
Bank of Internet USA Rewards Checking is another excelling option as it offers a wide selection of checking options, each coming with perks like no monthly fees or minimum balances, as well as no overdraft fees. When customers use the Rewards Checking option, they can earn up to 1.25% APY. Keep in mind that to receive this, individuals have to meet the requirements, which include using your debit card 15 times per month). If earning a reasonable interest rate is something that you value, this is an ideal option, as well as the fact that the lack of physical locations results in savings and lower overhead.
3. Simple
In 2019, innovation is critical. That’s what Simple is doing, making it an ideal choice for those looking to change the way they think of money. With Simple, customers get a “Safe-to-Spend” balance, which gives them an estimate of where their balance is and how much they can afford to spend. It also lists their upcoming bills and financial goals. The service offers fee-free withdrawals from ATMs and no overdraft fees. You can also link your Simple account to your mobile phone to get instant notifications for all transactions.
Takeaway
There are a lot of online checking accounts out there. While the three mentioned in this article are considered to be among the best, it’s essential to consider your financial goals and spending habits before locking one down. Be sure to do your research and check current rates before registering for an account.
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