Most banks allow you to view their ATM network using a map feature so you can make sure you have fee-free locations nearest you.ĪTM locator tools for all the banks listed above: If you use cash, you don't want to have to pay a fee every time you use your debit card at the ATM. Several companies listed above provide the option to decide between a high-interest checking account (for savers with high account balances) and cash-back rewards checking accounts (best for big spenders).Īlways choose a bank that incentivizes you to use their services with cash rewards in the form of interest or cash back.Īfter all, banks make their money by lending out your deposits in the form of loans - using a system called fractional-reserve banking. When deciding on a bank account, make sure you find one that does not charge monthly maintenance fees and does not require a minimum average balance.Īll five alternatives listed above meet this criteria, but you can find even more great fee-free bank accounts. That means the average person wastes over $115 per year on maintenance fees! The average monthly fee at the top 10 largest banks in the U.S. Here are some things to keep in mind when deciding on your next financial institution: With the number of new digital banks offering great rewards constantly expanding, it can be difficult to decide on what banking option is best suited for your needs. Both are FDIC-insured institutions, so your money will be safe in the event of a bank default. Chime's banking services are provided by either The Bancorp Bank or Stride Bank, N.A. If you heavily rely on features like push notifications or transactions, Axos may not be the best alternative for you (but there's plenty more to choose from further down).Ĭhime also provides faster direct deposits than Axos (two days early versus same-day).Ĭhime is a financial technology company, not a bank. Overall, Axos offers more account options and better rewards than Chime, but their technology isn't as fast or user-friendly.
Whether Axos is right for you depends on what you're prioritizing in a bank. Unlike Chime, Axos is an actual FDIC-insured banking institution - not a fintech company that provides banking services through a third-party bank. Below, review the top Chime alternatives you should consider.
However, Chime is not without its limitations. The Top 5 Alternatives to ChimeĬhime provides a great alternative banking option, especially for people who can't open a traditional bank account due to a bad ChexSystems score.
But Chime is not a bank, Chime is a financial technology company.Ĭheck out how Chime alternatives like Axos Bank, Quontic Bank, and Ally Bank stack up in this review. Chime is a popular digital app that offers great technology and high APY.
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