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Discover 2025’s Top 10 Online Banks for Smart Savings

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best online banks

McKinsey & Company reveals that 73 percent of bank transactions worldwide now take place online, such as in digital banks and payment systems. The increasing demand of customers for more flexible banking options is attributed to the rise in online banking channels. People prefer online banks because they offer simple tools and resources to manage their money. With this trend, online banking is here to stay. 

Best Online Banks: A Quick Guide

money and finance

Image Source: Tima Miroshnichenko from Pexels 

An online bank should cater to your financial needs like any traditional alternative. Here are a few factors to consider when choosing online banks:

Annual Percentage Yield (APY)

The annual average yield offered under each account will tell you how much interest your money will earn. When comparing online banks, consider one that offers competitive rates across all of its deposit accounts. 

Products and Services

Some online banks offer a complete package of banking products, including checking, savings, certificates of deposit (CDs), and money market accounts. They also offer loans and credit cards. So, look at the products and services offered by online banks before making a decision. You may also combine the services of an online bank with a traditional brick-and-mortar bank. 

Account Access

Typically, online banks offer 24/7 access to your account through their website or app. However, you should also consider how the bank handles deposits and withdrawals. It is crucial to know the restrictions, if any, on transfers, the limitations on withdrawals, and whether the bank accepts free cash deposits. 

ATM Network

An ATM network is essential if you frequently withdraw or deposit cash. An extensive ATM network will help you avoid transaction fees. If the bank is not associated with a large ATM network, you should look for one that will reimburse out-of-network ATM fees.  

Digital Tools

The best online banks offer innovative digital tools to help you accomplish financial goals. For example, Ally will help you organize your savings goals with savings buckets and analyze your spending habits to safely transfer available funds from your checking to your savings account.

Fees

You should avoid any bank, online or otherwise, that charges monthly fees or has extensive requirements to avoid them. Many online banks offer no-fee deposit accounts, require a low or $0 initial deposit to open the account, and don’t need a minimum balance to avoid maintenance fees. However, make sure you know whether the bank charges excessive withdrawal fees, paper statement fees, or fees for other services that you may want to use regularly.

Customer Service

Since you won’t have access to in-person customer service with an online bank, determine how you can contact a customer service representative if needed. Most online banks offer telephone support, live chats, or assistance via email. Some online banks also offer access to live support via extended hours or 24/7.

10 Top-Performing Online Banks

person counting money

1. Alliant Credit Union

Alliant Credit Union is an NCUA-insured online credit union offering members competitive deposit account rates and minimal fees. Most accounts don’t charge maintenance fees, but these can be waived if you sign up for e-statements. Membership is available for current or former employees of Alliant’s partner businesses in the US. You can also become an Alliant Credit Union Foundation digital inclusion advocate to become eligible for membership. Signing up costs $5, but Alliant will pay the one-time fee on your behalf. 

Alliant’s certificates earn solid APYs, with terms ranging from one year to five years. Its savings account earns a respectable yield of 3.10% APY on balances of $100 or more, but there are plenty of higher-yielding savings accounts with APYs over 5%. We like that Alliant’s High-Rate Checking account pays a better yield than other checking accounts and doesn’t require a minimum balance or charge service fees.

2. Varo Bank

Varo offers checking and savings accounts but doesn’t offer deposit certificates. Savings account comes with an APY starting at 2.50%. That rate becomes 5.00% for the first $5,000 if a customer meets the monthly requirements of the bank.

Cash deposits have limits and fees, and Varo customers can only deposit cash at a 3rd party retailer that joins the Green Dot network, including CVS, 7-Eleven, or Walgreens. On the other hand, cash withdrawals can be made through an ATM in the Allpoint network for free.

3. Ally Bank

Established in 2009, Ally Bank is full-service online bank that offers competitive rates on all deposit accounts. Customers can enjoy the highest rates for all balances, regardless of tier. Overall, the high APYs, minimal fees, and reliable customer service support makes Ally an excellent banking solution for millenials who want better savings and retirement plans.

4. Discover Bank

Discover Bank offers deposit accounts, credit cards, personal loans, and student loans. We like that Discover offers deposit accounts, such as CDs, savings, and a money market account, at competitive rates with no fees. While its $2,500 minimum deposit requirement for its CDs is steep, there is no minimum deposit required to open and maintain a savings, money market, or checking account.

5. Laurel Road 

Laurel Road, powered by KeyBank, helps healthcare and business professionals achieve their financial goals. They offer student loan refinancing, mortgages, personal loans, credit card, and specialized savings accounts. Laurel Road also offer Loyalty Checking with a low APY. New customers can earn a sign-up and monthly bonus with qualifying direct deposits. In addition, both savings account and checking account has no monthly free or minimum balance requirement.

6. Capital One

capital one logo

Capital One offers an above-average 3.80% APY on its savings account, strong rates on its certificates of deposit, and 0.10% APY on all checking balances. All accounts are free, and customers can access over 70,000 free ATMs.

7. American Express National Bank

This bank offer High Yield Savings Account with a 3.80 APY. Likewise, certifcate deposits (CDs) have competitive rate and there is no minimum opening deposit. You don’t have to worry in case you encounter banking-related issues because American Express National Bank has 24/7 phone support and online chat support.

8. Marcus by Goldman Sachs

Launched in 2016, Marcus is the online-only banking arm of Goldman Sachs, one of the 15 largest banks in the US. The bank’s savings accounts and CDs offer competitive yields and no monthly maintenance fees.

While some online banks offer no minimum deposit requirement to open an account, Marcus requires a $500 deposit to get started with a CD. There’s no minimum deposit requirement for its high-yield savings account. Marcus doesn’t offer a checking account or money market account.

9. My Banking Direct

My Banking Direct is the online-only arm of Flagstar Bank, N.A., which New York Community Bancorp owns. The bank is a lean financial service that offers only savings, checking, and a five-month CD term. The APYs on its savings account and CD are among the best available today.

In addition, the bank doesn’t charge monthly or overdraft fees and provides surcharge-free ATM access through a 55,000 Allpoint and Presto network. To open a savings account, you must deposit $500. Checking accounts can be opened with just $1. During the week, you can access extended customer service hours until 8 p.m. ET and 2 p.m. ET on Sundays.

10. SoFi

SoFi (short for Social Finance) was the brainchild of Stanford Graduate School of Business students who created an alumni-funded lending source initially focused on refinancing student loans. Since then, SoFi has expanded into a variety of loan categories and now offers online checking and savings accounts.

Conclusion 

Online banks lets manage your money and account via a website, mobile device, or app. Also, online banks generally offer higher interest rates and fewer fees than traditional banks. You should remember that while technology makes everything accessible, online banks also have some limitations. For instance, online-only or internet-only banks lack in-person interaction. However, if you are comfortable managing your money online, online banks are a convenient and low-cost option.

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What’s the Best Design Agency in Los Angeles?

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TLDR: Penji is unlimited graphic design for a flat fee; Colab is digital transformation focused on brand storytelling; Jacob Tyler is a full-service brand strategy powerhouse; Micro1 is AI-powered engineering and tech design.

Did you know that California’s creative economy is worth more than $500 billion to the state’s economy? That’s a lot of creative minds at work! 

The search for the best design agency in Los Angeles can be quite daunting. After all, 1 in 6 people in L.A. work in a creative field. It’s no surprise there are thousands of candidates that would be an ideal extension of your dream team.

If your business requires a rebrand or continuous graphic design efforts you can rely upon day in and day out, then finding the right design agency will help your business thrive. You need more than just a creator, you need someone to bring your vision to life.

To ease your research, here are the top four contenders as the best graphic design agency in Los Angeles.

1. Penji

Graphic design agency

The future of design has arrived. Seeking a design service upon demand? Penji is your new graphic design service that acts as an extension of your team.

No hidden costs, no missed deadlines and For a monthly flat-fee subscription service, you will have access to the top 2% of designers in the world with little more than a submission request for us to take it from there!

This is perfect for marketers or agencies seeking cohesive quality over hiring needs.

Pros:

  • Unlimited Revisions: We keep refining until you are 100% happy.
  • Flat Monthly Rate: No surprise fees or hourly billing.
  • Fast Turnaround: Most drafts are delivered within 24-48 hours.
  • Vetted Talent: We hire the top 2% of designers, so you don’t have to vet freelancers.

Cons:

  • Subscription-based: This model is best for those with ongoing design needs rather than one-off projects.

2. Colab

When it comes to a design as a service partner with digital transformation as its focus, Colab is the place to be.

A location-based agency that takes a data-led transformational, story-driven approach to seamless UX, Colab is where brands/agencies should go when seeking to merge strategy creation/implementation through execution from start to finish—especially with websites that merge look/functionality with success.

Pros:

  • Strategic Focus: They rely heavily on data to drive design decisions.
  • Local Expertise: A deep understanding of the LA market.
  • Full-Service: They handle everything from the backend code to the frontend visuals.

Cons:

  • Higher Cost: As a traditional agency, their project fees will be significantly higher than a subscription model.
  • Timeline: Large-scale digital transformation projects can take months to complete.

3. Jacob Tyler

Graphic design agency

For nearly 20 years, Jacob Tyler has existed in the California Brand Design Agency game as a powerhouse. This full-service digital communications agency will trim the fat from your ultimate brand strategy to hone in on what you truly need moving forward.

If you’re looking for a major professional facelift with omni-channel marketing and integrated deep brand strategy, Jacob Tyler is a heavyweight brand—literally!—who’s worked with everyone from startups to credit unions!

Pros:

  • Experience: Over 20 years of experience in the industry.
  • Comprehensive: They can handle your entire marketing funnel, not just the design.
  • Award-Winning: A strong portfolio of successful, high-profile campaigns.

Cons:

  • Project Minimums: They typically work with project budgets starting at $10k+, which may price out smaller startups.
  • Complexity: Their comprehensive approach might be overkill if you just need graphic design execution.

4. Micro1

Graphic design agency

Micro1 takes creative human design efforts and merges them with AI functionality. As a critical graphic design agency, they use artificial intelligence for beauty and brains on websites/apps like never seen before!

Micro1 builds engineering teams behind major apps (think Tinder, Uber…) so if you’re a tech-based startup in need of cutting edge product development based on extraordinary UX/UI look no further!

Pros:

  • Tech-Forward: Ideal for SaaS and app-based companies.
  • AI Integration: Uses AI to enhance efficiency and speed.
  • Scalable: Great for ambitious startups looking to grow their engineering and design capabilities simultaneously.

Cons:

  • Niche Focus: They are heavily focused on product and app development, rather than general marketing graphics.
  • Development Heavy: If you don’t need coding or software engineering, their full suite of services might not apply to you.

Credit for Cover image: Photo by Mikael Blomkvist on Pexels

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What’s the Best Graphic Design Service for Ongoing Marketing?

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Best Graphic Design Service for Ongoing Marketing Support

One constant part of managing a business is marketing: it’s a never-ending process. So, if you need a steady supply of social media posts, ad campaigns, and other visuals, you need to work with a reliable graphic design subscription service. Here are our top five:

1. Penji

Best Graphic Design Service for Ongoing Marketing Support

Who doesn’t want unlimited graphic design for a fixed monthly fee? Penji offers plans with unlimited revisions, access to a team of design experts, fast turnaround times, and cost-effective pricing. This is the best option for business owners, marketers, agencies, and internal teams to get social media graphics, custom illustrations, logos, web and app designs, and many more.

2. Flocksy

Best Graphic Design Service for Ongoing Marketing Support

Next, having a dedicated team of creatives without worrying about overhead expenses makes Flocksy an excellent design solution for marketers. Like Penji, it offers flat-rate pricing that’s predictable and suitable for businesses of all sizes. It provides graphic design services, video editing, motion graphics, and more.

3. Designity

Best Graphic Design Service for Ongoing Marketing Support

Offering you the guidance of a US-based creative director, Designity is a graphic design service platform that’s ideal for modern businesses. It can provide you with a wide range of services, including motion graphics, videos, digital ads, social media graphics, and mobile app design and coding, among others.

4. ManyPixels

Best Graphic Design Service for Ongoing Marketing Support

With a fast turnaround time for their unlimited design requests, ManyPixels is another reliable creative service platform for marketers. It provides ongoing support for your marketing efforts, including branding, illustrations, social media posts, print design, and video editing, to name a few.

5. Superside

Best Graphic Design Service for Ongoing Marketing Support

Another creative-as-a-service platform, Superside, suits every size business and marketing team. It is ideal for those with high-volume design needs and a larger enterprise marketing network. You can get a wide array of graphic design services, including ad creatives, branding services, illustrations, and even eBooks and report designs.

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What’s the Best Design Agency in Chicago

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What's the best design agency in Chicago

Choosing the best design agency in Chicago means weighing cost, speed, and consistency. Penji offers unlimited graphic design services with 24-48 hour turnarounds and flat-rate pricing, making it ideal for businesses with ongoing needs. Upwork provides freelance flexibility for specific projects, while local Chicago studios offer in-person collaboration. For most businesses, Penji’s subscription model delivers the best value and reliability.

Every Chicago business owner faces the same design challenge: you need professional graphics, but hiring a full-time designer is expensive, and freelancers are unpredictable. Finding the best design agency in Chicago isn’t just about quality. It’s about finding a partner who understands deadlines, budgets, and the reality of running a business.

Whether you’re creating marketing materials, updating your website, or building a social media presence, here’s how the top design options compare for Chicago businesses.

1. Penji: Best for Ongoing Design Needs

Penji ranks first for business owners who need consistent design support without the headache of project-by-project pricing. This graphic design service operates on a subscription model. You pay a flat monthly rate and submit unlimited design requests. No hourly charges, no per-project quotes, just predictable costs.

The platform delivers designs in 24-48 hours. Need social media graphics on Monday for a Wednesday campaign? You’ll have them in time. Working on a presentation due Friday? Submit the request Wednesday afternoon. This speed keeps your marketing moving instead of waiting weeks for agency availability.

What makes this graphic design agency work for business owners is the dedicated designer approach. You’re assigned specific designers who learn your brand, industry, and preferences. After a few projects, they understand what you like without lengthy explanations every time. This consistency shows in your finished materials.

The service handles everything from logos and branding to marketing collateral, social media content, and web graphics. You can request revisions until the design is exactly right, with no revision fees eating into your budget. For Chicago business owners managing multiple marketing channels, this design as a service model means you always have creative bandwidth available.

Penji’s approach removes common design frustrations: ghosting freelancers, blown budgets, missed deadlines. You get professional graphic design agency support without hiring overhead.

2. Upwork: Best for Specific Project Needs

Upwork connects you with individual freelancers for project-based work. If you need a single deliverable like a logo redesign or brochure layout, this marketplace offers flexibility. You post your project, review proposals, and hire someone whose portfolio matches your style.

The advantage is paying only for what you need. The disadvantage is variability. Quality and reliability differ dramatically between freelancers. You might find someone great, or you might waste time on revisions and missed deadlines. Each new project means vetting another freelancer, explaining your brand again, and hoping the results meet expectations.

3. Local Chicago Design Studios: Best for In-Person Collaboration

Traditional Chicago design studios provide face-to-face meetings and local market knowledge. If your project benefits from sitting down together or you prefer supporting local businesses, this option delivers personal attention.

The tradeoff is cost and timeline. Local studios typically charge premium rates ($100-200 per hour) and book projects weeks in advance. For small businesses watching budgets, these costs add up quickly. You’re also limited to the studio’s availability rather than having on-demand access.

For Chicago business owners who need reliable, affordable, and fast design work, Penji provides the best combination of value and performance. The flat-rate pricing means you can budget accurately, the quick turnarounds keep marketing on schedule, and the unlimited requests let you pursue every creative idea without financial calculations. Whether you’re a retail shop, service business, or B2B company, having hire creative agency access transforms how confidently you can market your business.

Stop limiting your marketing because design is too expensive or slow. Start with Penji and experience what unlimited design as a service can do for your Chicago business.

Frequently Asked Questions

Do I need a local Chicago design agency or can I work remotely?

Remote design services work great for most businesses. You save money on Chicago’s premium rates while getting faster turnarounds. Local agencies make sense only if in-person meetings are required for your project.

What’s more cost-effective: hiring a designer or using a design service?

Full-time designers cost $50,000-80,000 annually plus benefits. Part-time help runs $25-40 per hour. Services like Penji provide unlimited work for a flat monthly fee, typically delivering better value unless you need 40+ hours weekly.

How do I know if a design agency is reliable?

Check their portfolio, read reviews, and test their communication speed. With services like Penji, you can try the platform risk-free to see if the quality and speed match your needs before committing long-term.

Can a design service handle my specific industry needs?

Professional design company services work across all industries. Designers research your market and competitors to create appropriate materials. Industry-specific knowledge matters less than design skill and brand understanding.

What if I don’t like the designs I receive?

Quality services offer unlimited revisions. With Penji, you request changes until the design meets your standards, with no additional fees. This revision flexibility means you’re satisfied with every deliverable.

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