Best Internet Banks, 2018

These are the best internet-based financial institutions for 2018.

Close-up shot of unrecognizable young woman using online banking application on smartphone while sitting at office desk, high angle view
(Image credit: Getty Images)

Because online-only banks don't have the same overhead costs that brick-and-mortar banks do, they are more likely to pare down pesky fees and provide accounts with no minimum balances and higher yields.

For example, our picks charge only $25 for overdrafts (compared with the national average of about $32, according to Informa) and allow you to link accounts for free transfers. They also make up for a lack of in-person service with around-the-clock customer service.

Here's a look at our top picks for online-only banks.

Miriam Cross
Associate Editor, Kiplinger's Personal Finance
Miriam lived in Toronto, Canada, before joining Kiplinger's Personal Finance in November 2012. Prior to that, she freelanced as a fact-checker for several Canadian publications, including Reader's Digest Canada, Style at Home and Air Canada's enRoute. She received a BA from the University of Toronto with a major in English literature and completed a certificate in Magazine and Web Publishing at Ryerson University.