Axos also has few mobile app reviews, so if you're looking for a bank with a strong mobile presence, you may prefer another top pick. What to look out for: Axos has a minimum deposit to open an account of $250, so if you don't have that money you may be better off with an account that has no minimum deposit. If you know you'll want quick access to your savings without a checking account, Axos Savings Account could be for you.
#Savings account app free
You can get a free debit card with the account as well, which is rare for a savings account. Why it stands out: Axos pays one of the highest APYs of any high-yield savings account on our list, and it comes without monthly fees. Marcus also has more limited customer service hours than many competitors, both over the phone and online chat. Although users give the Marcus mobile app good reviews, the app doesn't allow you to deposit paper checks digitally. What to look out for: Mobile check deposit and customer support availability. Marcus' mobile app has also received positive reviews. It doesn't require an opening deposit or minimum account balance, and it doesn't charge monthly maintenance fees. Why it stands out: Marcus pays one of the most competitive rates in the industry right now. However, Ally is not charging an excess transaction fee during the coronavirus pandemic. Each transfer over the limit will incur a fee of $10. Like most banks, Ally limits the number of transfers in and out of its high-yield savings account to six times per statement cycle. What to look out for: An excess transaction charge. You may decide to open a separate account for each goal, but Ally has a bucket feature that allows you save for multiple goals in one account. Assign each account a nickname, like "Emergency Fund" or "Travel Account" to track your progress and stay motivated. You can deposit checks through the mobile app and open multiple accounts in minutes.Īlly makes it easy to save for specific goals. It's a particular favorite among millennials, who tout its accessibility and ease of use. Why it stands out: Ally has been a power player in the high-yield savings space for a few years now, and it consistently nabs top awards for online banking. Read Our Review Read Our Review A looong arrow, pointing right Interest compounded daily, paid monthly.Link to your Ally checking account and enroll in surprise savings transfers to have extra money transferred to savings three times per week.Create separate savings buckets in a savings account.