The 10 Best Online Checking Accounts of 2022

When customers grew tired of high cable and satellite bills, streaming giants Netflix and Hulu entered the playing field.

When customers lamented their experiences with taxis, Uber and Lyft offered a new way to get around town.

And when customers saw that their financial institutions were not working with their best interests in mind, online bank accounts came onto the scene to offer more.

The best online checking accounts offer members lower fees (or sometimes even no fees) and higher interest rates than their traditional bank and credit union competitors. Top checking accounts also have responsive websites and advanced mobile apps to provide the same convenience of in-person banking on the go.

And despite what you might think about an account that is entirely online, online checking accounts are incredibly safe. (Lack of safety is just one of many myths about online banks.)

All this makes online bank accounts highly appealing to savvy Penny Hoarders — or, in the case of online checking accounts, savvy penny spenders.

The 10 Best Online Checking Accounts of 2022

Bank Top Feature


No monthly or overdraft

Axos Rewards Checking

Up to 1.25% APY

Ally Interest Checking

No monthly or overdraft

SoFi Checking and Savings

Combo checking and savings

Discover Bank Cashback Debit

1% cash back

Consumers Credit Union Free Rewards Checking

Up to 4.09% APY


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