What Is Online Banking?

An online bank account lets you do all the things you would normally do at a physical bank – Deposit money, transfer funds, pay bills, check balances, and get account statements, all with secure mobile banking apps or websites. Online banks can be a superior option to traditional money management in terms of convenience, savings, security, and variety.

Types of Debit Cards

Opening a debit card is a essential financial tool, great for easy and efficient money management. Here are common types:

• Standard Debit Cards – Linked directly to your checking account.
• Prepaid Debit Cards – Require you to load funds before use. Good prepaid debit cards are ideal for budgeting.
• Reloadable Debit Cards – Can be topped up with additional funds. Look for the best reloadable debit card for seamless usage.

Why Open an Online Debit Card?

An online debit card offers convenience and flexibility for managing your finances. With the ability to access your funds anywhere, anytime, you can make purchases, pay bills, and withdraw cash without the need to visit a bank.

Plus, many online debit card providers offer additional financial tools (CDs, savings accounts, etc.) for multiple account integration, so you can easily transfer money between your checking and savings accounts all from your mobile banking app or website.

Do Debit Cards Have Fees?

Yes, some debit cards come with fees. However, you can find a no fee reloadable debit card and the best debit cards with no fees by researching online. Prepaid debit cards with no fees are also available, providing a cost-effective way to manage your money.

How to Open a New Debit Card?

Many online banks offer interest and rewards on your balance just for keeping your money with them, but there are more benefits to keep an eye out for if you’re in search of the best online checking account. A leading online checking account should offer a mix of the following:

1. Choose an Online Bank: Look for online banks with debit cards that offer features like no fees and easy account management.
2. Complete the Application: Fill out the online application form with your personal information.
3. Fund Your Account: Deposit money into your new account to activate your debit card.

Where to Find the Best Debit Card

When searching for the best debit cards, consider factors such as fees, rewards, and ease of use. Look for options like the best prepaid debit cards with no fees or good prepaid cards that offer excellent benefits. Comparing a list of debit cards can help you find the one that suits your needs.

When is the Best Time to Open an Online Debit Card?

Opening an online debit card can be a smart choice any time of year – for beginners and financial enthusiasts alike. Compare options, understand the types of debit cards, and be mindful of fees to find the best prepaid debit cards or the best debit cards with no fees.

Don't get overwhelmed with too much comparison. Ultimately, what matters most is choosing a bank that offers features and tools that will benefit your everyday banking activities.

Is Online Banking Safe?

Online checking accounts are a safe and secure way to simplify your finances and save money. With the money they save on branch locations, online banks often offer lower fees and higher rates than traditional banks.

The best online banks are FDIC-insured and offer strong security measures, including two-factor authentication and strong encryption, to keep your online bank account safe.

Disclaimers

Ratings Disclaimer: The star ratings of our teams are established by our editorial team, utilizing scoring formulas that consider various data points for each financial product and service.

Chime Disclaimers: Chime is a financial technology company, not a bank. Banking services provided by The Bancorp Bank, N.A. or Stride Bank, N.A., Members FDIC. ¹ Fee-free ATMs Out-of-network ATM withdrawal and over the counter advance fees may apply except at MoneyPass ATMs in a 7-Eleven, or any Allpoint or Visa Plus Alliance ATM. ² SpotMe® on Debit is an optional, no fee overdraft service attached to your Chime Checking Account. To qualify for the SpotMe on Debit service, you must receive $200 or more in qualifying direct deposits to your Chime Checking Account each month and have activated your physical Chime Visa® Debit Card or secured Chime Credit Builder Visa® Credit Card. Qualifying members will be allowed to overdraw their Chime Checking Account for up to $20 on debit card purchases and cash withdrawals initially but may later be eligible for a higher limit of up to $200 or more based on Chime Account history, direct deposit frequency and amount, spending activity and other risk-based factors. The SpotMe on Debit limit will be displayed within the Chime mobile app and is subject to change at any time, at Chime's sole discretion. Although Chime does not charge any overdraft fees for SpotMe on Debit, there may be out-of-network or third-party fees associated with ATM transactions. SpotMe on Debit will not cover any non-debit card transactions, including ACH transfers, Pay Anyone transfers, or Chime Checkbook transactions. SpotMe on Debit Terms and Conditions. ³ You must notify your financial institution immediately of any unauthorized use. For specific restrictions, limitations and other details, please consult your issuer.

SoFi Disclaimer: Direct Deposit Promotion begins on 12/7/23 and will be available through 1/31/26.