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Banking

Best Internet Banks 2017

Our top picks charge fewer, if any, fees and pay higher interest rates than traditional banks.

Internet banks aren’t for everyone, but they are worth considering if you're comfortable doing your banking online or by smartphone. Since there are no costly branches to staff and maintain, Internet banks can charge fewer fees, require lower account minimums and offer higher interest rates.

See Also: Best Deals in Online Banking 2017

Check out our top two picks:

Favorite Internet bank: Ally

What we like most:

  • simple account offerings
  • no account fees or minimums
  • free checks
  • postage-paid envelopes for mail-in deposits
  • up to $10 per month in ATM fee rebates

Runner-up: Bank of Internet USA

What we like most:

  • range of no-fee checking accounts
  • cash back on certain debit-card purchases
  • high-yield savings and money market accounts
  • 24/7 customer service by phone or chat

Be sure to check out our complete guide to all of the best banks of 2017.