12 Best Banks for Millennials for 2025

SoFi is a great choice for millennials looking for a streamlined, all-in-one banking experience.

It combines checking and savings into a single high-yield account, making it easier to manage finances without juggling multiple accounts.

There are no monthly fees, and users can get paid up to two days early with direct deposit.

Beyond everyday banking, SoFi’s mobile app includes tools for saving, budgeting, and investing, all in one place.

It also offers a large network of fee-free ATMs, so accessing cash isn’t a hassle despite being an online-only bank.

Current is a mobile-only banking platform designed for millennials who prefer managing their finances entirely from an app.

It offers a high-yield savings option with a competitive APY, no monthly fees, and the ability to get paid early with direct deposit.

Instead of a traditional savings account, users can set up “savings pods” to organize their money for different goals.

The app includes useful features like round-up savings, instant spending notifications, and seamless integration with Apple Pay and Google Pay.

While there are no physical branches, users have access to a large fee-free ATM network and mobile check deposit to handle everyday banking needs.

Chime is a top choice for millennials who want a fee-free banking experience with easy access to their money.

The checking account has no monthly maintenance fees, and users can get their paycheck up to two days early with direct deposit².

Its high-yield savings account offers competitive interest rates with no limit on how much you can earn.

The mobile app makes managing money simple, with automatic savings features and instant transaction alerts.

While Chime doesn’t have physical branches, users can deposit cash at select retailers and withdraw from a nationwide network of fee-free ATMs.

GO2bank is a mobile-first banking option designed for millennials looking for convenience and financial flexibility.

It offers a high-yield savings account with a strong APY on balances up to $5,000 and provides early direct deposit for faster access to paychecks.

The secured credit card option is a standout feature, helping users build or improve their credit without a credit check.

The mobile app includes features like bill pay, overdraft protection, and mobile check deposit, making it easy to manage money from anywhere.

While Go2bank doesn’t have physical branches, it supports cash deposits at participating retailers, adding a layer of convenience for those who still use cash.

Upgrade is a great option for millennials who want a high-yield savings account paired with a checking account that earns cash back.

The account has no monthly fees and offers a competitive APY on savings, making it a solid choice for those looking to grow their money.

Debit card purchases can earn up to 2% cash back when direct deposit requirements are met, adding extra value to everyday spending.

The mobile app makes it easy to track spending, transfer money, and pay bills all in one place.

While Upgrade doesn’t operate physical branches, users can withdraw cash from any ATM without Upgrade charging a fee, though third-party ATM fees may still apply.

Capital One blends online banking with in-person access, giving customers the flexibility to manage money however they prefer.

The 360 Performance Savings account offers a competitive APY with no balance requirements, while the 360 Checking account provides fee-free banking and a user-friendly mobile app.

For those who like occasional face-to-face service, Capital One Cafés offer a relaxed setting to handle banking needs.

The app makes it easy to deposit checks, lock or unlock your debit card, and pay bills, making banking simple whether online or in person.

Barclays offers a high-yield online savings account with competitive interest rates, especially for those with larger balances.

There are no monthly fees or minimum deposit requirements, making it accessible whether you’re just starting to save or looking for a place to store a larger sum.

The bank’s online platform includes tools to help set and monitor savings goals, making it easier to stay on track.

While Barclays doesn’t provide ATM access or checking accounts, it works well as a dedicated savings option.

Users can easily transfer funds between Barclays and external accounts, ensuring flexibility without the costs associated with traditional banks.

Chase Secure Banking℠ is a simple, low-cost checking account with no overdraft fees. For a flat monthly fee, users get access to essential banking services without worrying about unexpected charges.

The account includes early direct deposit, allowing customers to receive their paycheck up to two days ahead of schedule.

While the account doesn’t support paper checks or wire transfers, it offers free money orders and cashier’s checks, making it a good fit for those who need secure payment options.

With Chase’s extensive branch and ATM network, customers also have easy access to cash and in-person banking services.

Discover Bank offers a high-yield savings account with a strong APY and no monthly fees, making it easy to grow your savings.

Its Cashback Debit checking account adds extra value by offering 1% cash back on up to $3,000 in debit card purchases each month, a rare perk for a checking account.

With a large ATM network and features like early direct deposit, Discover provides a convenient and rewarding banking experience.

The mobile app makes managing money simple, whether you’re transferring funds, tracking spending, or depositing checks on the go.

Varo Bank offers a high-yield savings account with one of the best APYs available, making it a strong choice for those looking to grow their money faster.

With no monthly fees, no overdraft charges, and no minimum balance requirements, it’s a cost-effective option for everyday banking.

The bank provides access to a large ATM network and features like early direct deposit and automated savings tools to help users stay on top of their finances.

For those needing short-term cash, Varo also offers cash advances of up to $250, making it a flexible solution for unexpected expenses.

Ally Bank offers a fully online banking experience with an Interest Checking Account that earns interest on balances.

With no monthly fees, no overdraft charges, and no minimum balance requirements, it provides a cost-effective way to manage everyday finances.

Customers have access to a large fee-free ATM network, and Ally reimburses up to $10 per statement cycle for out-of-network ATM fees.

The bank also includes useful features like early direct deposit, spending buckets for budgeting, and CoverDraft℠ overdraft protection of up to $250 to help users stay on top of their money.

American Express offers a High Yield Savings Account with a strong APY, making it a solid option for those looking to grow their savings.

With no monthly fees or minimum balance requirements, it’s accessible for both new and experienced savers.

Customers can manage their accounts online at any time, ensuring flexibility and convenience. The bank also provides 24/7 customer support, so help is always available when needed.