The Best Online Banks For Your Money In 2020

Are you tired of waiting in long lines, and dealing with too many fees and minimum requirements? Opening a checking account with an online bank could be your solution.

Today, almost every bank offers online banking options, but did you know that there are banks that solely operate online, with no actual branch locations? These banks offer most of the products you find at traditional banks- checking, savings, CDs and money market accounts. A few even offer mortgage products!

Without the overhead of physical locations, online banks can pass the savings to their customers, who will enjoy lower fees and added benefits, including protection from bank fraud. The annual percentage yield (APY) will also be higher than traditional banks.

We break down our list of the best online banks - these are banks that typically deliver value in multiple areas, and no fees, and really easy to use products.