18 Best Online Banks Like Chime®

Banking

Since its debut in 2013, Chime has become quite popular. This financial technology company partners with Bancorp Bank, N.A. and Stride Bank, N.A. to provide a number of FDIC-insured bank accounts. Just like most online banks, Chime offers higher annual percentage yields than brick-and-mortar banks.

Chime offers a credit builder account7, which acts like a secured credit card to help customers establish credit. However, its flagship products are the Chime® Savings Account and Chime® Checking Account8.

Chime has one of the most robust apps in the world of mobile banking. It also has a phenomenal rating in both the Apple App Store and Google Play Store.

Despite the fact that Chime comes with many benefits, it’s not right for everyone. After all, there are no physical branch locations and its customer service could be improved.  Plus you might be able to find higher APYs elsewhere.

18 Best Chime Alternatives

If you’re looking for alternatives to Chime, you’ve come to the right place. We’ve done the heavy lifting for you to create this comprehensive list of the best Chime alternatives.

1. Current

Current is a neobank that partners with Choice Financial Group and Metropolitan Commercial Bank to offer banking services. It only offers one bank account that serves as an online checking and online savings account.

Current doesn’t charge monthly maintenance fees, monthly account fees, or overdraft fees. In addition, you can reap the benefits of automated savings pods and early direct deposit. Unlimited domestic ATM access is also free as Current is part of the Allpoint ATM network. You also get access to early direct deposits.

If you have kids, you can open a linked Teen Banking Account and help them build healthy financial habits. We can’t forget the Current Visa debit card, which lets you earn cash back on debit card purchases at more than 14,000 participating retailers.

Read our full Current review.

See also: Chime vs. Current: Which Is Better?

2. Axos Bank

Axos Bank is an online only bank that first opened in 2000. Its checking account options include the Essential checking account, Rewards checking account, and Cashback checking account. While Essential is a basic checking account with no fees or minimums, the Rewards checking account earns up to 1.00% interest if you meet certain requirements.

With the Cashback checking account, you can earn up to 1.00% cash back on qualifying debit card purchases. Rest assured there’s also a high yield savings account and money market account with a competitive APY. Like Chime, Axos also offers a highly rated mobile app.

Read our full Axos Bank review.

3. Quontic Bank

Headquartered in New York, Quontic Bank has been around since 2008. It has one brick-and-mortar branch in Astoria, New York but serves customers online in all 50 states.

Quontic’s lineup of products includes checking accounts, savings accounts, money market accounts, and certificate of deposit (CD) accounts. It also offers real estate products.

You can choose from three checking accounts: Cash Rewards Checking, High Interest Checking and Bitcoin Rewards Checking. There’s also a high-yield savings account, which pays an impressive APY.

No matter which accounts you decide on, you’ll be pleased to learn there are is no monthly service fee. Plus you’ll benefit from an extensive ATM network and mobile app.

4. Revolut

When it initially launched in 2015, Revolut was a challenger bank with a travel card and cheap exchange rates. Now, it describes itself as a digital banking platform and uses Barclays and Lloyds to store your money. Just keep in mind that since it’s not a bank, it doesn’t offer any deposit protection.

Revolut’s long list of perks include surcharge-free ATMs, travel perks, and spending alerts. Plus you can earn cash back on Revolut card purchases and even open an investment account to invest in popular cryptocurrencies. If you travel abroad often and are looking for benefits you may not be able to find from most banks, Revolut should be on your radar.

5. Varo

Varo is a digital bank with impressive technology as well as a lineup of checking and savings accounts with unique features like Chime. Since it prides itself on minimal fees, you won’t have to worry about monthly maintenance fees, transfer fees, or foreign transaction fees.

Furthermore, since it’s part of the Allpoint ATM network, you can enjoy free domestic ATM withdrawals at more than 55,000 ATMs. In addition to a competitive APY for its savings accounts, you can enjoy the Save Your Pay and Save Your Change features.

While Save Your Pay automatically transfers a percentage of your paycheck to your savings. Save Your Change rounds up online checking account transactions and lets you transfer money to your savings. These features are different from what you’d find with other online checking accounts.

6. Capital One

Capital One is one of the largest banks in the U.S. Its online checking and savings accounts come with no minimum balance fees.

Capital One’s 360 Performance Savings account offers an impressive APY on all account balances. This makes it worth considering regardless of what your savings goals entail. It lets you set savings goals and automatic savings plans so you can transfer funds from your Capital One 360 bank account.

With a Capital One bank account, you may access over 70,000 fee free ATMs. If you prefer in-person banking, you’re in luck because there are more than 300 branch locations in select states. You can also enjoy free overdraft protection and download the Capital One app to send and receive funds through Zelle.

7. Discover Bank

When most people think of Discover Bank, credit cards come to mind first. But like Chime, Discover also offers checking accounts, savings accounts, money market accounts, CDs, and even personal loans.

It doesn’t impose minimum monthly balance requirements or charge any monthly fees or overdraft fees. Discover’s savings accounts and CDs are known for impressive APYs and its highly rated mobile app with a Quick View feature makes it a breeze to bank while you’re on the go.

Additionally, Discover offers more than 60,000 fee-free ATMs and you can earn 1% cash back on up to $3,000 in debit card purchases each month. If you need assistance, you can always reach out to its 24/7 U.S. customer service representatives.

8. Ally Bank

Headquartered in Utah and a division of Ally Financial, Inc. Ally is a full service online bank with an extensive product line up. Its deposit accounts, like checking accounts and savings accounts as well as CDs come with competitive interest rates.

In addition to 24/7 customer service, Ally offers a robust mobile app you can use to check balances, transfer funds, deposit checks, pay bills, and send money via Zelle.

With Ally, there are no minimum balance requirements or fees for account maintenance, overdrafts, ACH payments, incoming wire transfers, or cashier’s checks. Aside from bank accounts, Ally also services customers with a wide range of mortgages, loans, and investing products. The main drawback is that you can’t deposit cash. Despite this, Ally is considered one of the best online banks.

9. One Finance

One Finance is an online bank that lets you do all your banking from one bank account. With One, you can open one account that acts as a savings and interest checking account with no fees and the chances to earn a high APY. Your account will feature pockets that let you manage your money in numerous ways so you can budget and set savings goals.

You can think of a spend pocket as a checking account that doesn’t pay interest but helps you visualize the money you can spend each month. If you budget for various categories, like rent, groceries, and entertainment, it makes sense to have multiple spend pockets to keep track of your spending money. If you prefer, however, you can stick to one and have all your spending come from the same place.

10. Aspiration

Aspiration is a nonbank financial institution with a Spend and Save account that offers checking and savings features. You can choose a basic account with a “pay what is fair” monthly fee, which can be $0 or an Aspiration Plus account, with a monthly fee but additional benefits like a higher APY on savings. If you pay annually, you can enjoy a lower fee.

Aspiration supports the environment through features like cash back if you spend at socially conscious businesses. You also have the chance to plant a tree every time you use your debit card. Additionally, your personal impact score tells you the environmental and social effects of your shopping habits. It also promises that your cash deposits won’t pay for the exploration or production of fossil fuels.

11. Bank5 Connect

Based in Massachusetts, BankFive has been around since 1855. With Bank5 Connect, the online division of BankFive, you can open a checking account, a savings account, or a CD with a low minimum balance requirements. Its accounts are available to everyone in the U.S., except those in Massachusetts and Rhode Island.

As a Bank5 Connect customer, you can enjoy access to thousands of surcharge free ATMs. You may get reimbursed up to $15 per statement cycle for any fees that are charged by out-of-network ATMs. There’s also a mobile app with features like mobile deposit, bill pay, money transfer, and an ATM locator.

12. MoneyLion

Founded in 2013, MoneyLion is a financial services company that works to help customers improve their finances. RoarMoney is its FDIC-insured checking account that comes with no account fees and several unique perks.

As long as you enroll in automatic monthly direct deposits, you can receive each paycheck up to two days early. Price Match will also refund you the difference if you find something you purchased at a lower price. Plus you may use RoarMoney to design a budget and track your spending. In addition to RoarMoney, MoneyLion offers Instcash in which you can get cash advances of up to $250 through the app.

13. Cash App

Created by Square and based in San Francisco, Cash App is a peer-to-peer payment app. Cash App lets you send and receive money, do your banking, and open investment accounts, such as retirement accounts. The banking feature requires you to order a Cash App card and accept that FDIC coverage is not available.

Keep in mind that there is no way to build your credit or save money with Cash App. But you can use it to buy stock and bitcoin shares for as little as $1. Plus, Cash App lets you prepare and file your federal and state taxes for free.

14. Brigit

Brigit is a personal finance app that offers paycheck advances to help you out when you need fast cash. It might be a great option if you can’t wait until payday but want to avoid insufficient fund fees and overdraft fees. Brigit also allows you to keep track of your credit score and protect yourself from identity theft.

Additionally, you can use Brigit to find side gigs or borrow money with a credit builder loan. You will have to pay $9.99 per month to unlock all of these features. The good news, however, is you won’t be charged any interest or tips.

15. Dave

Launched in 2017, the Dave App can give you the chance to advance your paycheck to cover small emergencies. It also offers a spending account, which is essentially a checking account with no low balance or overdraft fees. To take advantage of the Dave app, you’ll be on the hook for a $1 monthly subscription fee as well as an optional express fee and tip.

There’s also a budget feature that tracks your income and spending so you can pay your bill. It will notify you any time you’re at risk of overdrafting. In addition, Dave can help you find a side hustle and earn extra income.

16. Juno

Formerly OnJuno, Juno is an FDIC-backed online banking platform known for its high-yield checking account with zero monthly maintenance fees or minimum opening deposit. You can also earn cash back if you make crypto purchases or cash purchases at certain companies.

It’s ideal if you’re an immigrant or international professional because all you need to open an account is a passport and Social Security number. With Juno, you get free atm withdrawals at more than 85,000 Allpoint or MoneyPoint ATMs.

17. Wise

Headquartered in London, Wise is a financial technology company that prides itself on innovation. You can open a Wise personal account for free and won’t have to meet a minimum balance requirement or pay a monthly fee. Wise is unique in that you can hold 54 currencies and send international transfers to over 80 countries.

There are also international business accounts, which can be helpful if you send, spend, or withdraw money while you travel abroad for business purposes. While you can sign up for a Wise debit card, it does come with fees and may only be used in select countries.

18. Bluevine

Founded in 2013, Bluevine is a fintech company that offers online banking services through Coastal Community Bank. It offers the Bluevine Business Checking account that pays a great interest rate. You can also deposit cash and don’t have to pay monthly service fees. Plus you can make unlimited transactions for no charge.

What to Look for When Choosing a Bank

When you shop around Chime alternatives, you’ll notice there are no shortage of options. Here are some things to consider as you look for the ideal solution.

Fees

Fees can add up quickly. Ideally, you’d go with a bank that charges low fees or basically no fees. Fortunately, most online banks are known for their fee-free bank accounts.

With many of these checking accounts, you won’t be charged monthly maintenance fees, ATM fees, wire transfer fees, and early account closing fees. Just be on the lookout for hidden fees.

High Interest and Rewards

The higher the interest rate, the more money you’ll be able to save with minimal effort. Sometimes, you can even earn rewards like cash-back and travel points for making transactions on your debit cards.

Large ATM Network

If you’re an avid cash user, you don’t want to pay an arm and a leg every time you use an ATM. For this reason, it’s important to choose a bank with a fee-free ATM network or one that reimburses you when you use an out-of-network ATM.

Customer Service

You want to ensure that you can easily receive answers to your questions or address your concerns. For this reason, choose a bank or company that has positive customer service reviews.

Bottom Line

While Chime offers many perks, it’s not perfect. If you’re willing to do some research and compare your options, you can find several online banks like Chime. Before you make a decision, look at the banking services provided. Then, weigh the pros and cons. Don’t be afraid to test a Chime alternative for a few months or so to make sure it’s a good fit.

Chime is a financial technology company, not a bank. Banking services and debit card provided by The Bancorp Bank N.A. or Stride Bank, N.A.; Members FDIC. Credit Builder card issued by Stride Bank, N.A.

7. To apply for Credit Builder, you must have received a single qualifying direct deposit of $200 or more to your Checking Account. The qualifying direct deposit must be from your employer, payroll provider, gig economy payer, or benefits payer by Automated Clearing House (ACH) deposit OR Original Credit Transaction (OCT). Bank ACH transfers, Pay Anyone transfers, verification or trial deposits from financial institutions, peer to peer transfers from services such as PayPal, Cash App, or Venmo, mobile check deposits, cash loads or deposits, one-time direct deposits, such as tax refunds and other similar transactions, and any deposit to which Chime deems to not be a qualifying direct deposit are not qualifying direct deposits.

8. A Chime Checking Account is required to be eligible for a Savings Account.

Anna Baluch
Meet the author

Anna Baluch is a freelance personal finance writer from Cleveland, OH. She enjoys helping people make smart financial decisions.