With the rise of technology, banking has become more accessible than ever before. Gone are the days of brick-and-mortar banks being the only option for managing your finances. Today, we have digital banks that offer a range of services from online bill payments to investment accounts. In this article, we will take a look at the biggest digital banks in the world and what they have to offer.
1. Ally Bank
Ally Bank is a popular digital bank that has been around since 2009. It offers a range of services including online checking and savings accounts, CDs, and investment accounts. One of the biggest advantages of Ally Bank is its high-interest rates, which are often much higher than what traditional banks offer. Additionally, the bank has a user-friendly app and website, making it easy to manage your finances on the go.
2. Chime
Chime is a digital bank that offers checking and savings accounts, as well as a debit card. One of the biggest advantages of Chime is its lack of fees. There are no overdraft fees, monthly maintenance fees, or foreign transaction fees. Additionally, Chime offers early direct deposit, meaning you can get paid up to two days early.
3. Varo Bank
Varo Bank is another popular digital bank that offers checking and savings accounts, as well as a debit card. One of the biggest advantages of Varo Bank is its high-interest rates. Additionally, Varo Bank offers no fees for overdrafts, foreign transactions, or monthly maintenance fees. The bank also has a user-friendly app that makes it easy to manage your finances on the go.
4. SoFi Money
SoFi Money is a digital bank that offers checking and savings accounts, as well as investment accounts. One of the biggest advantages of SoFi Money is its high-interest rates, which are often much higher than what traditional banks offer. Additionally, the bank offers no fees for overdrafts, foreign transactions, or monthly maintenance fees. SoFi Money also offers a range of investment options, including stocks, ETFs, and cryptocurrency.
5. Revolut
Revolut is a digital bank that offers a range of services, including checking and savings accounts, a debit card, and international money transfers. One of the biggest advantages of Revolut is its ability to hold and exchange multiple currencies at once, making it a great option for travelers. Additionally, Revolut offers no fees for foreign transactions or ATM withdrawals up to a certain amount.
6. N26
N26 is a digital bank that offers checking and savings accounts, as well as a debit card. One of the biggest advantages of N26 is its user-friendly app and website. Additionally, the bank offers no fees for foreign transactions or ATM withdrawals up to a certain amount. N26 also offers a range of budgeting tools, making it easy to manage your finances.
7. Monzo
Monzo is a digital bank that offers checking and savings accounts, as well as a debit card. One of the biggest advantages of Monzo is its user-friendly app and website. Additionally, the bank offers no fees for foreign transactions or ATM withdrawals up to a certain amount. Monzo also offers a range of budgeting tools, making it easy to manage your finances.
8. Simple
Simple is a digital bank that offers checking and savings accounts, as well as a debit card. One of the biggest advantages of Simple is its user-friendly app and website. Additionally, the bank offers no fees for overdrafts, foreign transactions, or monthly maintenance fees. Simple also offers a range of budgeting tools, making it easy to manage your finances.
9. Aspiration
Aspiration is a digital bank that offers checking and savings accounts, as well as investment accounts. One of the biggest advantages of Aspiration is its commitment to sustainability. The bank offers a range of eco-friendly investment options and donates a portion of its profits to charity. Additionally, Aspiration offers no fees for overdrafts, foreign transactions, or monthly maintenance fees.
10. Marcus by Goldman Sachs
Marcus by Goldman Sachs is a digital bank that offers high-yield savings accounts and CDs. One of the biggest advantages of Marcus by Goldman Sachs is its high-interest rates, which are often much higher than what traditional banks offer. Additionally, the bank offers no fees for overdrafts, foreign transactions, or monthly maintenance fees.
11. Discover Bank
Discover Bank is a digital bank that offers checking and savings accounts, as well as credit cards and personal loans. One of the biggest advantages of Discover Bank is its cashback rewards program, which offers up to 1% cashback on purchases. Additionally, the bank offers no fees for overdrafts, foreign transactions, or monthly maintenance fees.
12. Capital One 360
Capital One 360 is a digital bank that offers checking and savings accounts, as well as credit cards and personal loans. One of the biggest advantages of Capital One 360 is its user-friendly app and website. Additionally, the bank offers no fees for overdrafts, foreign transactions, or monthly maintenance fees.
13. HSBC
HSBC is a digital bank that offers a range of services, including checking and savings accounts, credit cards, and personal loans. One of the biggest advantages of HSBC is its international presence, making it a great option for travelers. Additionally, the bank offers no fees for foreign transactions or ATM withdrawals up to a certain amount.
14. BBVA USA
BBVA USA is a digital bank that offers checking and savings accounts, as well as credit cards and personal loans. One of the biggest advantages of BBVA USA is its user-friendly app and website. Additionally, the bank offers no fees for foreign transactions or ATM withdrawals up to a certain amount.
15. USAA
USAA is a digital bank that offers a range of services, including checking and savings accounts, credit cards, and insurance products. One of the biggest advantages of USAA is its commitment to serving military members and their families. Additionally, the bank offers no fees for foreign transactions or ATM withdrawals up to a certain amount.
Conclusion
These are just a few of the biggest digital banks in the world. Each of these banks offers unique advantages, whether it be high-interest rates, user-friendly apps, or eco-friendly investment options. When choosing a digital bank, it is important to consider which features are most important to you. With so many options available, you are sure to find a digital bank that fits your needs.