Top Rated Banks
Some online banks may be better for your financial situation than others. Find the online bank that is the best match for you. Draw from the thousands of online bank reviews from customers to select your online bank.
Online Bank Reviews
5 out of 5 marks
Up to several hundred dollars in account bonus cash if you open an account before the 4th of July.
$76 just for opening a checking account with no minimum deposit! Capital One 360 is an amazing online bank with tons of great and free features. No foreign transaction fees, no overdraft fees, very inexpensive checks and they also link with all your other capital one accounts!
They have teen checking accounts (You can get a bonus for this):
Kid Saving Accounts (Bonus)
Money Market Accounts (Bonus)
and regular savings account (Bonus but you have to deposit $200)
I would highly recommend this bank.
2 out of 5 marks
I have been banking with TIAA DIRECT (checking and savings) for barely a year and have already had three extremely unsatisfactory experiences.
Most recently, I went to use my debit card at a market one morning, and it was declined. I was busy at work and waiting until the following evening to call. I was told that my debit card that I had been using nearly daily for months "looks like it's never been activated". Um? The phone representative was useless and gave me some bs about a banking analyst addressing my issue in 24-48 hours.
But it wasn't just the card. I had no access to my checking. Not even my payroll deposit went through. But the phone rep had assured me that the account had not been frozen. I had an auto mortgage payment due in a few days and was getting really angry.
This is not the first time I have been left without access to my own money. Disgusting. These are the big issues that I've had with TIAA DIRECT but I've had smaller issues too, that probably aren't worth going into detail about. It's such a pain, but it's to the point that I will have to switch banks.
Response by TIAA Direct
Responded by TC_Talks
Jun 27th 2014
Providing excellent customer service matters to us. Email your full name and best way to contact you so we can resolve the issue to email@example.com.
5 out of 5 marks
All the complaints I read always seem to be with deposits or lack of and auto pay when your account won't cover. I understand the frustration but it is the customers fault almost every time.
2 out of 5 marks
They closed my 360 Checking account. They were told misinformation (which they openly admitted they get a lot of) from the bank of my linked checking account that the check I deposited written to myself wasn't going to clear. Well it did clear, yet they closed my account. They don't care about you. If you get caught up with their Security Team, your account will most likely be closed. Their business practices are a bit extreme in my opinion.
5 out of 5 marks
I've had a savings account with Capital One 360 (formerly ING) for years. Although interest rates have gone down considerably at all banks in recent years, Capital One still pays well above the national average (0.75% at the time I'm writing this). I can attest to their excellent customer service from experience. However, they've never been my primary bank until now.
I researched the top banks looking at rates, fees, ATM access, quality of online and mobile banking (including mobile deposits), security, customer service and long-term bank stability, I decided to move all my checking and savings to Capital One 360. I gave their bank rates a rating of 4, but I think the 0.15% difference compared to the highest rates at a couple other banks is insignificant -- especially considering superior mobile banking and customer service.
One person on this site gave Capital One a 1-star rating due to a single personal experience where security locked his account down for a couple days due to suspicious behavior. That not only goes against the mybacktracker.com guidelines, but is the exact opposite reaction I have to tough and alert bank security. When bank or credit card security contacts me about suspicious activity I always thank them.
2 out of 5 marks
Customer service hours are very limited. If you have an emergency after 6pm, you have to wait for them to call you back when they can squeeze you in on the next business day. Or you can email them which takes even longer. If someone has stolen your info, your money will be drained while you wait for them to get around to helping you!
This brings up another point -- security. They will accept any screenshot (which could be easily photoshopped) document as acceptable credentials to change your account information. Meaning someone can change your info with a simple image made up in MS Paint! Highly insecure.
Go to a real bank. These guys don't have their system together and you are the guinea pig they're testing on.
2 out of 5 marks
Ally has a good, scratch that, great product! No fee ATMs -- any ATM -- including the sketchy ones in bars (not sure you wanna use them anyways, but thats another story - when in desperate times). You don't have to check an app to find whether this ATM is free, like with Capital One 360 or other online banks. Sure those ATMs are abundant and free too, but you still have to consult an app.
But, and a big but, the customer service is horrible for anything out of the ordinary (which by the way is normally the reason why you would contact customer service in the first place - since something that should be working through self service is not working the way you expected). Short service times -- great; actual service quality -- not so great! For example, another reviewer wrote about their issue with the CD being processed erroneously twice -- 5 business days for resolution; or the reviewer with the minor account turning into an independent account -- multiple follow ups. That is horrendous. That's why people like going to branches since you can see someone there and hold that individual accountable.
My own personal experience -- I am new to this country (I think this will answer the question for the british expat who moved to the States as well) with new credit. They won't open an account for me since I don't have a credit score yet -- say what? Like, you need my SSN to verify my identify -- ok, I'll bite. No credit score yet. Hello! I am new here, let's contact customer service and lo and behold, after 30 mins "sorry we cant do anything!"
Anyways, policies are policies, but the customer service is horrendous to say the least.
The way I see it - capital one 360 may not give back all my ATM fees, but i get $50 right up for signing up for it, and that will last me for a while (in lieu of ATM fee paybacks from Ally, which, by the way, have a limit of their own).
1 out of 5 marks
I recently opened a Schwab Bank account because CNN called them one of the "least" evil banks today. I was using them just fine for over a year with no issues or complaints at all. They assured me when I signed up that even though there are no "local" branches near me in Minnesota I could call into the 24 hour phone line and request temporary ATM limits to access my money if necessary and so forth, so I went ahead and did it.
Yesterday afternoon I called in to get a temporary 24 hour ATM card limit increase because I need to take some cash out for a international trip I have coming up. They hung up on me while I was on hold to confirm the limit has been raised for 24 hours. When I went to use the ATM it didn't work, so I called in to find out Instead of raising the limit they blocked all of my 3 ATM cards from being able to pull out any money and no one on the phone there knows how to lift the block. It's now been over 24 hours and not only have they not increased the ATM limit on my card for me, they blocked all my ATM cards from withdrawing any money.
I've talked to customer service reps, managers, supervisors and now the "Client Advocacy Team" but still nothing, no one knows why my ATM cards are blocked, no explanations as to why its happening and no date if ever that they will be unblocked. Only way to get my money now is to close my accounts and hope they issue a check for the balance because they refuse to call me back or explain why they've locked my ATM cards, and I'm not willing to "FLY" to the nearest branch just to withdraw my money.
Think twice before putting your money in the hands of Schwab, at any moment they may lock your account, say no one knows anything, and leave you high and dry for an "unknown" amount of time. Today is Friday so I'll have to cancel my upcoming trip on Sunday because the department that put the block on my account that apparently no one can get a hold of is closed on the weekend.
5 out of 5 marks
After I got married, my husband and I discussed our finances. One of the questions that we asked ourselves was do we have a joint or a separate bank account. We decided that our household income would be in a joint account, but we would have a separate account for our individual savings. My husband recommend that we use his bank, USAA, for our joint account. I agreed to switch to USAA. My husband added me to his account and my paychecks where deposited directly in our account, however I still maintained a separate account with a local credit union.
USAA in my opinion is the best bank for one's banking needs. No minimum balance, free checking, thousands of preferred ATMs for free and if you use another banks ATM you get a refund, mobile deposits, manage accounts online, and overdraft and international transactions are the lowest compared to other national banks.
USAA is competitive in their rates with items such as: mortgage, auto loans, and credit cards. Also, they offer a special APR during deployment. USAA provides finical advice for retirement needs, insurance, and shopping discounts with participating business.
Another reason for this high review is because USAA gives extra advantages opposed to other leading banks like offering a vehicle storage discount for deployed soldiers, covering military uniforms under their insurance plans, and providing health insurance plans.
These special bonuses is what makes USAA the best bank and no other bank can compare.
3 out of 5 marks
Ally Bank. I thought it was the smarter way to bank when I found out about them. They don't have branches and because of this, they are able to hand their tech savvy customers better interest rates and no fees at ATMs nationally. With no monthly maintenance fees on checking and saving accounts who could turn that down, right? Wrong.
I've been with Ally for over a year now and major unresolved issues have lead me to turn my back on the company, and have fueled my decision to take my money and deposit it elsewhere. Primarily, while Ally's customer service team is one of the friendliest I've ever dealt with, they are extremely unorganized and inefficient.
When a dispute came up with a merchant I had done business with, I filed for a stop payment. Ally customer service insured that the stop payment would be processed within several business days. Not only did this stop payment not go through, Ally requested I jump through several hoops of paperwork in order for them to supposedly help me solve my claim. I finally got fed up with being asked to submit more and more paperwork as well as being told I didn't need to submit certain documents and then being thereafter requested to do so. I eventually requested to speak to a supervisor who told me the facts: Ally wasn't going to be able to return my money after months of paperwork, and they could only help me prepare a case that would ultimately need to be settled in court.
My thoughts on that were simple: Ally Bank is not a team of lawyers, so why should I waste my time with them when I really just need to be talking to a lawyer. That's where I'm at now nearly a year later.