Top Ten Savings Accounts: A Quick Summary of Some of the Best Online Banks & What They Offer

If you’re someone who is looking for a safe, yet potentially profitable way to put your money, then the best solution is a high-yield savings account from a reliable, strong financial institution. You don’t necessarily have to choose a traditional bank, either. There are some good online banks to choose from these days, although not all of them are equal. Here are the top ten savings accounts to look into (no specific order):

Capital One

This one is great for fast transfers. Even though Capital One is mostly known for its credit cards, it’s still a good choice for an account. There are a variety of options, including Kids’ Savings Accounts (1.00% APY) and 360 Performance Savings (1.90 APY).

SoFi Money

Even though this is a newer institution, it’s still offers a good cash management account that pays up to 2% APY, and doesn’t charge much in terms of fees – if any at all (no ATM fees, overdraft fees, monthly pays, etc… ). The APY varies from 1.80% – 2.0% and is subject to change.

HSBC

While its APY is lower than the other banks on this list of top ten savings accounts, HSBC has the advantage of longevity. Its roots go back to 1865. It’s also one of the largest and most robust banks that offers various online accounts.

American Express

Like Capital One, American Express is most-often thought of as a lender of credit cards, but the financial giant now also offers savings accounts online, with an average of 1.90% APY. The account has no monthly fees or minimum balance to worry about.

Barclays Bank

This organization definitely deserves to be among the top ten savings accounts due to its excellent support and services for online customers, as well as its no minimum balance requirement to start an account. Not only does Barclays boast some fairly high APY for its accounts, it also offers CD options that have some of the highest rates right now.

Citi

Some of the benefits of signing up for an account with Citi is that is requires no minimum opening deposi, offers the convenience of mobile check deposit, and the ability to easily transfer money between your Citi accounts and non-Citi accounts.

Popular Direct

If you have at least $5,000 to start with, then you can expect an APY of 2.40% if you create an account with Popular Direct. This offer is for those who create a new “Ultimate Savings” account and went into effect Sept. 9 2019. Like the others mentioned on this top ten savings accounts list, you get a peace of mind when Popular Direct thanks to FDIC-insured deposits.

WebBank

There are no monthly fees to worry about with WebBank and it requires a minimum balance of just $1,000. The interest compounds daily, and you can easily manage your account online. The APY averages around 2.20% for savings accounts.