Forbes' list of the best online banks featuring FDIC insurance, high interest rates, banking apps, low or no fees, and great customer service.
The provided content is from an analysis by Forbes Advisor of the best online banks. The review covers a variety of critical factors including available accounts, digital banking tools, service fees, ATM networks, interest rates, and overall customer experience of 60 online banks. Specific banks such as Bank5 Connect, Quontic Bank, Ally Bank, Discover Bank, Synchrony Bank, NBKC Bank, SoFi, EverBank, Capital One 360, and First Internet Bank are evaluated for their offerings like high APYs, no-fee structures, and customer experience. The article emphasizes the importance of choosing online banks with minimal fees, competitive interest rates, low minimum deposit requirements, and solid customer service. Additionally, it discusses what to look for in terms of fees, APYs, minimums, product offerings, ATM accessibility, customer support, digital experience, and safety through FDIC or NCUA insurance. Elizabeth Aldrich and Michael Benninger, experienced financial journalists, contributed to this comprehensive guide which outlines how to choose an online bank, emphasizing the benefits of minimizing fees and maximizing interest gains.