Business
Discover 2025’s Top 10 Online Banks for Smart Savings
Published
7 months agoon

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

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

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 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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Business
How to Determine Which Social Network Is Right For Your Business
Published
9 hours agoon
January 23, 2026
Often times startups hop on every major social network to look “present,” but fail to keep up with all of their accounts. Sometimes being present online, but failing to be consistent on your profiles is worse than not having a social account at all. Imagine a customer browsing your website, and they decide to hit the “Facebook” icon to like your page so that they can stay updated on your sales. As they are linked to your company’s page- they see posts from 2014. They will start questioning how legit your business is or if your business is still active. You could seriously lose a potential customer! Keeping up to date with a company page is a lot of work, and you can’t afford to be on every single social media platform. You need to understand which network (or networks) fits the best for your business, and focus on that.
Facebook: The Universal Hub
Let’s start with Facebook. Facebook has over 1 billion monthly users worldwide- and 73% of the US adult population, which means that you can basically reach consumers in every industry. It is a great place to start to test your social media campaigns. Facebook is best for building brand awareness, staying familiar with your current customers, and grabbing the attention of potential customers. To have a Facebook profile, you need to stay committed to posting at least once a day, with high quality content (pictures and videos do a lot better than plain text). Although Facebook does work for B2B businesses, it is where the B2C business truly shines. But, regardless of the industry or the size of your demographics, you will most likely be able to bring exposure to your company and establish a true community around your brand. Facebook is the only social media platform you should be on no matter what field you are in.
Twitter: The Real-Time Conversation
The second most talked about social media network is Twitter. Twitter has 230 million monthly users- and on this platform the users have a higher tendency to follow brands than any other network. Twitter is most popular with young adults ages 18 -29, living in very popular urban areas. Twitter is best for building brand awareness, release breaking news, building relationships with customers and influencers and for handling public complaints (users tend to vent on Twitter). The types of businesses that do best on Twitter are: musicians/influencers, publications, news organizations, marketing companies, and sports related businesses. To have a Twitter profile, you must post a few times a day, and you should be interacting with your industry’s community.
Instagram: The Visual Storyteller
Instagram is becoming one of the fastest growing networks, and brands are getting so creative with their marketing strategies! Instagram has over 500 million monthly users- most are female, younger than 35, living in urban areas. According to Forrester Research- Instagram users were 58 times more likely to engage with brands compared to Facebook and Twitter. Instagram is best building brand awareness, interacting with customers and influencers, staying familiar with existing customers, and grabbing the attention of potential customers. Instagram is usually best for B2C companies, but users are slowly moving from Facebook and Twitter into Instagram so that may change soon for the B2B world. The types of businesses that do best on Instagram are: fashion brands, retailers, Etsy shops, bloggers, home décor brands, active/sports/fitness related. On Instagram, visual storytelling is an art form, so brands need to be willing to post consistent high quality content and able to engage with followers regularly.
Pinterest: The Inspiration Engine
Another fast growing network is Pinterest. It use to be just for moms looking for recipes, brides looking for wedding décor, and new parents looking for baby advice, but it has evolved into much more. Pinterest has over 110 million monthly users. 73% of users are females between the ages of 18-50. Pinterest is best for driving referral traffic back to your blog, video, or store. Pinterest is best for B2C businesses whose niche is: cooking, arts and crafts, clothing/fashion, baby items, home décor/design, event décor, or gift items. This is a goldmine for creative industries as you can communicate directly to the customer. Since users are constantly “repining,” you may receive free marketing from fans that repin your image to their followers. To have a business Pinterest profile, you must be ready to update it every time you post a blog, throw an event, or have a new item in stock. People want easy, digestible content like infographics, quotes, blog title graphics, close ups of décor, outfit ideas, etc. Make sure to title your picture appropriately, write a relevant description that has relevant keywords, and link it back to your website.
LinkedIn: The Professional Network
LinkedIn is the only social network that is specifically for B2B companies. It was designed for educated professionals looking to advance their careers and stay well connected within their industries. LinkedIn has over 106 million monthly users, both male and female ranging in ages 25-64. Most users have a bachelor’s degree or higher. LinkedIn is best if business development is a core focus. It is a great tool to build brand awareness, promote career opportunities, and educate potential customers on your products and services. To have a LinkedIn company page, you must be ready to update it a few times a week sharing company updates, content that relates to your industry, and interact with industry related groups. Unlike most social media networks, LinkedIn is the place where everything you communicate should be professional.
The Verdict: Where Should You Start?
To determine which social network(s) is right for your business, finish this sentence: “My target audience is on _________.” The next step is getting started on the one or two best options. Once you get the hang of it and create a community of followers, you can move on to adding another social media platform to your list. Whatever you choose, just be sure to be consistent in posting high quality content. You NEED to be active on social media if you want to have a successful business. The beauty of social media is that it is FREE marketing. It may take a few months of dedication of working on your profile, gaining followers and building your engagement. But if you apply the right tactics, overtime you will see an increase in awareness of your brand and interest in your product or services.
And for other stories, read more here at Owner’s Mag!
Business
Here’s How You Can Scale Your Business Beyond a 7-Figure Revenue
Published
1 day agoon
January 22, 2026
With the right attitude, courage, and determination, many business owners have proven that achieving a 7-figure revenue is more than possible. However, they can also tell you that going beyond that is where the difficulties start. Here are seven steps to help you scale your business:
1. Leverage Your Unique Selling Point
Ask any seasoned entrepreneur, and they’ll tell you that establishing a unique selling point is essential. It is what will make you cut through all the noise and make your business more agreeable to consumers. Having made the 7-figure mark can mean that you already have this.
What you can do is improve on it. Better product development or superb customer service may be the keys, but it’s more than that. With so many competing for customers’ attention, it pays to have a specialization that can target a smaller market but can pay off so much more in loyalty.
2. Optimize, Optimize, Optimize
A big part of how to scale your business beyond the 7-figure mark is by optimizing every aspect of it as much as you can. This does not necessarily mean gathering more resources or spending more on advertising. The operative word here is optimization.
Take your website to the highest level by optimizing it. Take a closer look at your lead generation strategies and optimize them. Get insights for your sales conversion and create marketing strategies never tried before.
3. Focus on Lead Generation
While maintaining a certain quality level for your business is important, lead generation should always be on your top to-do list. Never take it for granted, and use every available means to generate more. Whether it’s outbound or inbound marketing, make sure that you focus on generating new leads.
Ensure that potential customers get sufficient information about your brand to have them think of you when the need arises. Better yet, create strategies that would make them want and need your services even before this need comes.
4. Get the Most From Sales Conversions
Take a deeper look at your sales conversions and study what happens down the funnel. This way, you can determine what’s working and what’s not. You can then adjust your conversion strategies accordingly. This will help boost lead generation and customer conversions without increasing your acquisition expenses.
While many think that lead generation is the only way to increase revenues, finding out what causes conversions to happen can be crucial. Knowing what stops a customer from buying allows you to nip it in the bud and find ways to purchase.
5. Know Your Customers’ Worth
Provide value to your customers by knowing their worth. This will help you understand what you need to do, acquire, and spend time on. Don’t just focus on bringing in the new customers, aim your attention at your loyal customers.
You can always look at opportunities for upselling, down-selling, and even cross-selling. These are very useful if you want to increase your customers’ lifetime value.
6. Get Busy with Triple-Win Partnerships
Business-to-business plays are advantageous, so use them when you can. Build relationships with companies that you work with. The following are what you can reap when you enter into these triple-win partnerships:
- New customers
- The partners get commissions
- The referred person receives a discount, bonus, or benefit
7. Have a Referral Program in Place
If you still don’t have one, create a referral program for your business. This will make selling easier and faster for you without spending a ton of extra cash. Let your fans and customers do it by offering them perks when they get referrals.
You can set up a system that gets those who refer incentives such as cash, discounts, gifts, and many more. This will get you new solid leads as the referrals come from customers who like your products or services.
Business
Know These Logo Statistics and Facts to Grow Your Business
Published
1 day agoon
January 22, 2026
A logo is more than just a visual sign for your business. It’s the symbol of your brand’s vision and identity, and carries the weight of your credibility. In 2026, when brands are competing ever so fiercely for the audience’s attention, it has become a crucial part of earning the customers’ trust and loyalty.
Here are a few facts and statistics related to logos to help you make data-driven decisions when it comes to the visual asset that represents your brand, especially now, in a digital-first world.
Brand Recognition

Did you know that 94% of the population can recognize the iconic Coca-Cola logo? Apart from being a huge and long-standing brand, they were able to use the classic red color and the Spencerian script to their advantage. Even if they tweak their logos over the years, they maintain their signature design elements, making it easier for people to identify the brand.
What does this mean for your logo?
There’s nothing wrong with redesigning your logo, most especially if you want to make it relevant and timely. But as much as possible, keep your prominent design elements. Otherwise, the market might be confused.
Cost of Logos

Most people undervalue the work needed to create a compelling logo. Sure, you can get affordable ones online. But the question is, will it represent your brand’s vision and mission?
This is precisely the reason why you need to hire a professional graphic designer. They don’t just create logos based on visual appeal. There is science behind every stroke and color.
Data tells us that the average logo price sits around $800, with high-end lgoo designs costing up to $1,500. That’s not entirely bad news. However, this shows the need for more business owners to understand that logo is an investment.
But let’s make it clear. Paying a huge fee isn’t a guarantee that you will have a good business logo. It still depends on the skills of your designer and how clearly you provided the instructions. Take note that some of the biggest brands like Google and Nike started with cheap and even free logos. So you cannot base the effectiveness of your logo on its cost.
Graphic Designers for Logos
Since there are more than 500,000 freelance graphic designers online, the prices of logos can be extremely low. This is due to the high competition. Yet again, among the 500,000 designers, only a few can deliver superior output.
To be honest, looking for the perfect one can be tedious and time-consuming. We would encourage you to work with on-demand graphic design services as they have already selected the best graphic designers for your logo. Take a look at Penji’s business model, where you only pay a fixed fee every month for unlimited graphic design requests. This includes your logo.
Colors in Your Logo

At first, you might get too excited to design your logo. You would probably ask your designers to go all out and crazy in terms of colors. But remember that the most effective logos only contain one or two colors.
In fact, 81.6% of the largest enterprises in the world use one or two colors in its logo. Looking at the data, they clearly have something in common. And as a startup and medium-sized business, it wouldn’t hurt if you follow their lead.
In addition, the choice of color is important too. Let’s use Starbucks as an example. They use green to symbolize mother earth and universal love. Lo and beyond, it has become a universal drink. This is where color psychology takes place.
Now, you might want to use gradient, but the fact is, only 34 companies in the Fortune 500 use the style. It might be too risky to follow that path.
Symmetrical vs Asymmetrical Designs
According to studies, people perceive asymmetrical logos as an exciting brand. You can see that transition when Burger King changed their logo. If you are about to build one, you might want to stay away from the plain font view and tilt your text, if possible.
Using Hidden Messages on Logos

Many logos have hidden messages. This includes Baskin-Robbins, FedEx, and Tostitos. There are two major reasons for doing it. One, this sends a subliminal message to your audience. Another is that it pays tribute to your company’s legacy. Either way, people love solving hidden messages.
Animated Logo Designs are on the Rise

Since many people have their own gadgets, animating a brand’s logo seems to be the trend. Just take, for example, Google and Netflix. But this takes a different level of expertise. Too much animation can also be a distraction, so you have to use this technique with caution.
Just a quick trivia. This isn’t a new style. Remember MGM Studios’ classic lion? Yet again, it is only recently that companies have taken the approach.
When to Rebrand Your Logo

We’ve already mentioned the possibility of rebranding. But take note that you shouldn’t change your logo just because you feel like it. There should be a strong reason why you would alter the design elements. You need to make sure that corresponding marketing will take place to reintroduce your logo to the market. Here are a few reasons why you might need to rebrand your logo.
- There’s a change in leadership
- Business expansion or mergers
- Outdated logo design
- Recovery from a controversy
You have to be careful when you are about to redesign your logo. According to logo statistics, those who are highly committed to your brand will take the change negatively compared to those who are not highly engaged. This means you have to watch out for your loyal pool of customers when you plan to change your logo.
Cost of a Poor Logo Design on Your Business
In case you are still not convinced about the role of logos in your business, this data might change your perspective.
Data says 60% of consumers don’t support ventures with poorly-designed logos.
Isn’t that counterproductive and impractical?
Conclusion
Learning these logo statistics could help you brainstorm a design that will work best for your company. We also want to enlighten you on how important it is to choose the right graphic designer. If you are to start your logo design project, go back to knowing more about logo statistics and use it as a reference.
Featured Image Credit: Photo by George Milton from Pexels

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