Top 10 Free Online Banking Like Chime in 2024

Top Free Online Banking Like Chime
Top Free Online Banking Like Chime

Chime is one of the most popular bank account apps in the United States, noted among tech-savvy users for its low fees, ease of use, and functionality. 

However, there are several Chime-specific drawbacks, such as a $2.50 cost for all out-of-network ATM withdrawals, fees for some cash deposits, and the fact that the app does not support wire transfers or international SWIFT notes.

Like Chime, many free online banks provide a safe and convenient way to control your cash, all from the comfort of your couch (or wherever you have a phone!).

This article can be your guide to the 10 best online banks like Chime in 2024. We’ll break down what makes these options great so you can discover the right suit for your financial needs.

Whether you’re looking for features like early access to your paycheck, high-interest savings accounts, or cashback rewards, there’s an online bank you can get to be your financial companion.

So buckle up and get ready to ditch the conventional bank and join the wave of destiny – free online banking!

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TransferXO Crypto Virtual Debit Card
TransferXO Crypto Virtual Debit Card

What is Free Online Banking and How Does it Work?

Free online banking provides a virtual branch in your pocket or on your laptop, allowing you to ditch physical banking and manage your budget entirely electronically.

This usually involves opening a checking or financial savings account with an Internet bank or a traditional financial institution that provides free online banking services.

Once installed, you can check your account balance in real-time, transfer money between accounts, perform deposit checks by capturing an image together with your smartphone, and make payments electronically.

Free online banking also regularly comes with mobile banking apps that offer additional features such as mobile wallets for contactless accounts and budgeting tools to help you keep track of your spending.

It normally works like this:

  • Open an account online: You can open a free online bank account through the bank’s website or app. Additionally, some may require a minimum initial deposit, but many do not.
  • Manage your cash electronically: Once your account is set up, you can access it every time to check your balance, transfer funds, assess deposits remotely (with several apps), and possibly make payments.
  • No physical branches: Free online banks normally do not have a physical location, so the whole thing is completed electronically.

Check out the list of – Top 10 Free Online Bank With Virtual Debit Card

Top 10 Free Online Banking Like Chime in 2024

Here are ten free online banking services similar to Chime to consider in 2024:

1. TransferXO


If you often worry about global transactions, think of TransferXO as an alternative to Chime. It excels in facilitating cross-border money transfers and allows you to deliver and receive your budget around the world without hassle.

TransferXO even provides some convenient features that go beyond simple money transfers, along with a debit card for online purchases and cash withdrawals from ATMs. Keep in mind that there are fees associated with using an ATM, so test their rates before relying on this feature.

Unlike a full-service bank, TransferXO doesn’t have to offer features like depositing checks or maintaining physical branches. This is probably a disadvantage if you often deposit checks or decide on banking offers for men or women.

However, for people who generally handle their budget electronically and prefer seamless international transactions, TransferXO may be a rare device. It provides a person with a pleasant platform to handle global transactions without the constraints of a traditional financial institution account.


  • User-friendly interface
  • Competitive interchange fees
  • 24/7 customer support


  • Limited availability in several areas
  • Possible high fees for certain transactions

The first step is to “Create an Account” on TransferXO. To do that, Click Here to go to TransferXO website or the image below to download the TransferXO App on your phone.

TransferXO Apple Store 1
TransferXo Google Play Store

Ensure to complete your “KYC” and “Profile” setup.

2. Varo

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Varo is one of the latest neobanks to get its banking charter, so it doesn’t have to rely on a partner bank to cover its accounts.

Varo offers a checking account, savings account, cash advances, and tools to help you build your credit score.

Varo is almost completely fee-free, like Chime, so you won’t pay monthly fees for maintenance, transfers, or foreign transactions. It is also part of the Allpoint ATM network, so users have access to over 55,000 free ATMs.


  • It offers current and savings accounts
  • Free of charge
  • Part of the Allpoint network


  • Limited accounts (like Chime)
  • No signup bonus

You should also read through: How To Use a Virtual Visa Card for In-Store and Online Transactions

3. Discover Bank


Discover is well recognized for being a major credit card issuer. It also offers some of the best online bank accounts available, similar to Chime, such as no monthly fees and access to many ATMs.

The Discover Cashback Checking Account has no monthly fees and comes with 1% cash back on up to $3,000 in monthly debit card purchases.

At more than 60,000 ATMs, you pay no withdrawal fees and you won’t pay for checks, bill payments, overdrafts, or card changes.

Discover Online Savings is similarly fee-free and earns high interest rates. Discover Bank’s excellent app lets you easily move money between two accounts and handle any other task.

Discover also has a money market, CD, and retirement accounts.


  • Competitive APYs
  • User friendly
  • He can make money back


  • Cashback is limited to $3,000 per month
  • Only one current or savings account option

Don’t fail to read: How To Transfer Money From Virtual Card To Bank Account: A Comprehensive Guide

4. Axos Bank

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Axos is one of the biggest names in online banking, offers personal and business banking financial services and is one of the banks like Chime.

With five different consumer checking accounts, Axos has one of the widest selections of accounts of any digital bank. It also offers a savings and money market account, CDs, and home, auto, and personal loans.

All Axos accounts are free of monthly maintenance fees and reimburse users for all domestic ATM fees.

The Axos mobile app is highly rated for both Apple and Android devices, so you can easily make mobile check deposits, track your account balance, and transfer money from your smartphone.


  • Many checking and savings account options
  • A large network of ATMs
  • Great welcome bonuses


  • Low CD prices

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5. One Finance

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One Finance is a digital bank that is built on high savings rates and low-interest credit lines. The accounts are provided by Coastal Community Bank, an FDIC-insured partner. 

One offers a single account that functions as both a checking account and a savings account. You get a debit card, early direct deposit, free overdraft protection, and savings benefits like customizable pockets and up to 5.00% APY.

To earn the maximum savings rate, you must make direct deposits of at least $500 per month or maintain a daily balance of at least $5,000. You can also set up an auto-deposit and the 5.00% APY applies to your entire auto-deposit balance.

One has no account fees or minimums.


  • High interest rates
  • A single checking and savings account
  • Saving capsules


  • Direct deposit is required to get the highest APY

6. Ally Bank

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Ally is the heaviest player in online banking and one of the largest banks in the US, period.

In many ways, Ally is similar to a traditional brick-and-mortar bank in that its product offering is extensive, covering everything from deposit accounts to credit cards to loans and investments. Fortunately, the similarities end there.

Ally accounts have no fees like Chime, and their savings rate is consistently high. There is also no minimum balance required on the High Yield Savings Account.

Ally also provides a checking account, a money market account, and three types of certificates of deposit.


  • Many options, including loans
  • High-interest money market with no minimum balance requirement
  • ATM withdrawals up to $10 per month


  • Cash cannot be deposited

7. Revolut

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Revolut is a digital bank that has made a name for itself in the UK as the ‘challenger bank’.It is Europe’s largest neobank and is now widely available in the United States. 

With a Revolut account, you get mobile banking, free transfers between Revolut users, instant currency exchange, and early direct deposit.

Revolut also has a rewards program that offers cash back with its partner brands and useful budgeting and analysis tools.

Revolut offers three levels of its digital bank account: Standard, Premium, and Metal.

Here’s an overview of what each offers (and how much it costs). 


  • No monthly fee
  • 3.25% APY
  • ATM withdrawals with no fees (up to $300 per month)
  • Revolut Teen account for one child


  • $9.99 per month
  • 4.25% APY
  • Fee-free ATM withdrawals (up to $600 per month)
  • Premium debit card
  • Access to LoungeKey Pass
  • Revolut Teen accounts can support up to five children. 
  • 20% off all international transfer fees


  • $16.99 per month
  • 4.25% APY
  • Fee-free ATM withdrawals (up to $1,200 per month)
  • Priority customer support
  • Overseas health insurance
  • Exclusive metal debit card
  • Access to LoungeKey Pass
  • Revolut Teen accounts can support up to five children. 
  • 40% discount on international transfer fees


  • Discounted international transfers
  • High APY on all plans
  • Refund options


  • Monthly fees are high

8. Current

Current is a neo-bank that provides banking services via agreements with Choice Financial Group and Cross River Bank. 

Current has a spend, save, and invest account so you can spend, save, and invest in cryptocurrencies in one place. It does not charge monthly or overdraft fees and has features such as early direct deposit and automated savings modules like Chime. Current is also part of the Allpoint network, which allows for free ATM use. 

Plus, if you have kids, you can open a linked Teen Banking account to help instill positive financial habits in your kids.

When you make purchases with your debit card at over 14,000 participating retailers, you’ll earn up to 15x points that you can redeem for cash in your account.


  • Multiple account types to handle all your banking needs
  • Option to invest in cryptocurrencies
  • No monthly fees


  • May pay more fees than Chime
  • Only one current or savings account option

9. Capital One

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Capital One isn’t just a credit card firm. They offer some great online banking options and, like Chime, charge no monthly fees. However, unlike Chime, Capital One has some brick-and-mortar locations in New York, Louisiana, Texas, and several other states.

You have access to 70,000 free ATMs and no minimum monthly requirements or fees to worry about. Capital One has an award-winning mobile app that simplifies fund transfers, mobile deposits, and locking/unlocking your debit card.

While there is just one checking account and one savings account to pick, they offer numerous features such as early access to direct deposit and a savings rate of 4.25% APY. 

Capital One also offers a checking account for teenagers, a children’s savings account, and a high-yield CD.


  • It has some physical location
  • High APYs apply
  • User-friendly application


  • No money market account

10. Aspiration

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Aspiration is an online bank with a conscience. The bank promises that your deposits will not finance industries that harm the environment. It also rewards customers for supporting socially conscious brands.

Aspiration provides two all-in-one accounts: Spend & Save and Aspiration Plus. 

  • Spend and Save: It uses a “choose what you pay” fee structure so you can avoid a monthly fee altogether. You earn 0%, 3% to 5% back on Conscience Coalition purchases and the account comes with early direct deposit.
  • Aspiration Plus: Costs $7.99 per month, and in exchange for the fee, you get up to 3.00% APY, 10% back on Conscience Coalition purchases, and one out-of-network ATM refund per month.

Both accounts are linked to Aspiration’s network of 55,000 free ATMs and include a Visa debit card. 


  • Socially responsible banking
  • The option to choose what you pay
  • High APY


  • All accounts have some type of fee, although you choose what you pay

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How to Open an Account in Banks Like Chime?

Opening an online bank account like Chime is usually an easy method. Here is a simple step:

  1. Choose your bank: Explore the top online banks and find the bank that fits your needs. Consider factors consisting of monthly expenses, ATM access, and mobile banking features.
  1. Gather your documents: You will usually need basic documents to confirm your identification and address. This can include a driver’s license, numerous types of social security, and proof of consent.
  1. Apply online: Visit the bank’s website and go to the account’s home page. Fill out the application form in conjunction with your details.
  1. Submit and wait for approval: Once you apply, the bank will review it. This may additionally consist of checking your banking records.
  1. Receive your account materials: Once approved, you can receive your debit card and other account materials in the mail, usually within a week or two.

For example, Chime claims you can open an account in just two minutes with no credit check required.

By following these steps and thinking about your needs, you can easily open an online banking account like Chime.

Frequently Asked Questions

What are some alternatives to Chime that provide free online banking?

Several online banks offer open checking accounts as well as Chime, including TransferXO, Ally, Discover Bank, Current, Axos Bank, Capital One 360, and Varo. These banks typically waive monthly renewal fees and minimum balance requirements.

What features are important to remember when choosing an alternative?

When looking for a Chime opportunity, keep in mind options such as hobby expenses to save money owed, cashback rewards programs, access to a physical ATM community, the ability to deposit cash, and joint account options.

Are there online banks that provide higher interest charges on debt savings than Chime?

Yes, several online banks offer better interest fees on debt savings than Chime’s current price. One Finance and Discover Bank are some examples.

I like that Chime provides cash-back rewards for debit card purchases. Do some online banks offer comparable features?

Varo is a great opportunity for Chime if cashback rewards are important to you. Their bank account offers cashback for purchases at selected merchants.

Can I deposit cash at an ATM with online banks like Chime?

Chime itself does not allow cash deposits, but some online banks with similar features do. Varo, for example, accepts cash deposits for a rate, while others may partner with specific stores for cash deposits.

Is my money safe with online banks?

Many Chime alternatives are FDIC insured, meaning your deposits are insured up to a certain amount in the event of a bank failure. Be sure to test whether an online bank is FDIC-insured before opening an account.

Final Thoughts

While Chime has a recognized desire for online banking, exploring the options is essential to finding the banking environment that best suits your wants and capabilities. 

Consisting of TransferXO, Axos Bank, and so on, the alternatives listed on this blog provide a variety of features and benefits that can meet specific financial goals and lifestyles.

Before making the switch, try to review your banking needs and evaluate these alternatives to see which one fits your financial goals.

Remember, the right economic group is based on your dreams, so make sure you study and make informed preferences.

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