Best Internet Banks 2025

Internet banks forgo branches and operate online only. They tend to offer higher yields and lower fees than brick-and-mortar banks, thanks to lower overheads. Here's Kiplinger's pick of the best.

Are you looking for a better bank? You’re in the right place. With the help of Curinos, a financial-data provider, we’ve analyzed accounts at 40 financial institutions, evaluating them based on criteria including fees, minimum balance requirements, yields and the availability of extra perks, such as free checks or financial planning services.

We used this data to find the best internet banks. These online institutions don’t contend with the costs that come with operating a brick-and-mortar bank, so they can pass those savings on to customers through higher yields and lower fees.

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Here's a look at our top picks:

Axos Bank

Standout account: The Axos ONE checking and savings account package charges no monthly fees, and you can earn a chart-topping 4.66% yield on the savings account if you meet certain requirements.

If you bundle your checking and savings accounts with the no-fee Axos ONE package, you can earn as much 0.51% on checking and an outstanding 4.66% on savings. To get those yields, you must meet certain requirements; one option is to receive at least $1,500 in monthly direct deposits and maintain an average daily balance of more than $1,500. Otherwise, Axos also offers savers the free, no-minimum Summit Savings account, with a 4% yield.

Axos also has several other checking accounts that are free of monthly fees, including the basic Essential Checking account. With the CashBack Checking account, you earn 1% cash back on debit card purchases that you verify with your signature rather than a PIN, as long as you keep a $1,500 daily balance (monthly earnings are limited to $2,000).

The Rewards Checking account offers a yield of as much as 3.3% if you meet these requirements: receive $1,500 monthly in direct deposits (0.40%); use your debit card for at least 10 monthly transactions or activate Axos’s online Personal Finance Manager tool (0.30%); maintain an average of a daily balance of $2,500 in an Axos Invest Managed Portfolios account (0.99%) as well as an Axos Invest Self Directed Trading Account (0.99%); and use your account to make payments on an Axos consumer loan (0.60%). All three of those checking accounts provide unlimited reimbursement of out-of-network ATM fees in the U.S.

The free Golden Checking account is for customers 55 and older, and it provides free personal checks. The First Checking account is a good starter account for teens ages 13 to 17.

Capital One

Standout accounts: The 360 Performance Savings account has a 3.5% yield, and the CDs offer decent rates, too.

Capital One’s 360 Checking has no monthly maintenance fee, and you can withdraw cash fee-free from more than 70,000 ATMs in the Capital One, MoneyPass, and Allpoint networks. The no-fee MONEY Teen Checking account, which is for teens and children who are at least 8 years old, provides a debit card, and it comes with parental controls. For example, you can track your child’s spending activity through Capital One’s mobile app and lock their debit card if necessary.

The 360 Performance Savings account offers a 3.5% yield, with no balance requirement or monthly fee. Capital One’s 360 CDs provide strong yields, including a 4% rate for a one-year term, with no minimum deposit.

EverBank

Standout account: Performance Savings offers a competitive yield of 4.3%, with no monthly fee or minimum balance requirement.

EverBank offers a noteworthy group of no-fee, high-yield accounts. With Performance Checking, you earn a 0.25% yield, and if you keep a balance of at least $5,000, you get unlimited reimbursement of out-of-network ATM surcharges (if you have a lower balance, you get $15 in monthly reimbursement). The debit card comes with benefits such as return protection, which reimburses you up to certain limits if a retailer won’t accept a return within 90 days of purchase, and an extended warranty of up to one year on purchases.

The bank’s Performance Savings account has a strong yield of 4.3%, and the Performance Money Market account offers a 4% rate on a balance of at least $10,000. The 13-month Performance CD has a 4.1% yield, and it requires a minimum deposit of $1,000.

Methodology

With data from Curinos, a financial-data provider, as well as from financial institutions and other sources, we evaluated 13 national banks, 14 internet banks (including online accounts from brokerage firms) and 13 credit unions.

We reviewed checking accounts, savings accounts, money market deposit accounts and certificates of deposit from each institution. We looked at interest rates; minimum deposit and balance requirements; monthly maintenance fees and the ease of waiving those fees; ATM benefits, such as waived or reimbursed fees for out-of-network withdrawals; free or discounted benefits, such as personal checks, cashier’s checks, paper statements and overdraft-protection transfers; overdraft fees and concessions, such as cushions; and online and mobile banking features, such as the availability of peer-to-peer payment services. Yields and other data listed in the article are as of early July.

Kiplinger's Best Banks

• Best National Banks
• Best Credit Unions
• Best Banks for High-Net-Worth Clients
• Best Banks for Retirees
• Best Banks for Travelers

Note: This item first appeared in Kiplinger Personal Finance Magazine, a monthly, trustworthy source of advice and guidance. Subscribe to help you make more money and keep more of the money you make here.