Mobile Banks That Pay You to Open an Account: High-Interest Online Savings Options
Mobile banking has transformed the financial landscape, offering users the convenience of managing their money from anywhere. High-interest online savings accounts are particularly appealing because they provide better returns than traditional savings accounts. Many mobile banks also incentivize new customers with cash bonuses or higher introductory rates, making them an attractive option for savers.
When choosing a mobile bank, it’s essential to consider factors such as APY, fees, minimum balance requirements, and customer service.

Top Mobile Banks Offering High-Interest Savings Accounts
Several online banks stand out for their high-interest savings accounts and attractive sign-up bonuses. Here are some of the top contenders:
- Ally Bank : Known for its competitive APY and no monthly fees, Ally Bank also offers a robust mobile app with features like savings buckets and round-up savings.
- Marcus by Goldman Sachs : This bank offers a high APY with no fees or minimum deposit requirements, making it accessible to all savers.
- Discover Bank : In addition to a high APY, Discover Bank provides cashback rewards for new customers who meet certain deposit requirements.
- Chime : Chime offers a unique feature called SpotMe, which allows eligible users to overdraft up to a certain amount without fees.
- Varo Bank : Varo stands out with its high APY and cash bonuses for new users who meet direct deposit requirements.
Comparison of High-Interest Online Savings Accounts
To help you compare the best options, here’s a detailed table highlighting key features of these mobile banks:
Bank | APY | Sign-Up Bonus | Minimum Deposit | Fees |
---|---|---|---|---|
Ally Bank | 3.50% | None | $0 | No monthly fees |
Marcus by Goldman Sachs | 3.75% | None | $0 | No fees |
Discover Bank | 3.60% | $150-$200 | $0 | No monthly fees |
Chime | 2.00% | None | $0 | No monthly fees |
Varo Bank | 3.00% | $50-$100 | $0 | No monthly fees |
How to Choose the Right Mobile Bank
Selecting the right mobile bank depends on your financial needs and preferences. Here are some factors to consider:
- Interest Rates : Look for banks offering the highest APY to maximize your savings.
- Fees : Avoid banks with hidden fees or monthly maintenance charges.
- Bonuses : Some banks offer cash bonuses for meeting certain requirements, which can be a nice perk.
- Mobile App Features : Ensure the bank’s app has the tools you need, such as budgeting features or easy transfers.
- Customer Service : Check reviews to see how responsive and helpful the bank’s customer service is.
By carefully evaluating these factors, you can choose a mobile bank that aligns with your financial goals and lifestyle.
References
For more information, visit the official websites of these banks: