5 Best Digital Banks US Citizens Can Legally Use


With the rapid development of the IT industry, innovative digital banks have all the chances to render the traditional banking system obsolete. While the process is still progressing extremely slowly, many people are eager to switch from conventional banks to online financial services which seem cheaper, faster, and more convenient to use. This trend is especially strong in the US, where digital banks are very popular now. In this article, we explain why these banks are so great and name the top 5 virtual banks operating in the US that you can definitely trust.

How digital banks work

Digital banks have no physical offices. All transactions are processed online, and you access money on your account via mobile apps. That means you don’t actually have to visit an office in case there’s something you need, just a couple of taps on your phone can do the trick. Some people still think that these banks are unsafe, but they actually employ advanced security measures to make sure all of the data is protected. Financial regulators also pay close attention to their business, and digital banks are required to comply with the same strict requirements as traditional ones.

We’ve analyzed the market and singled out the best digital banks US residents can trust by assessing their security, fees, conditions, and other aspects. Let’s take a closer look.


Created back in 2011, Wise focuses on seamless international transactions. You can exchange about 50 different currencies, and the fees are pretty affordable. However, the transaction speed isn’t always perfect.


Launched in 2015, this British startup came to the US in 2020 and quickly became one of the leading digital banks on the market. The company employs several top managers from traditional banks and has exceptionally high security standards.


SoFi started as a project for investments in student loans, but now it also offers mortgages, personal loans, credit cards, and other products. You can use it to access low-cost investment options, and its customer support is just great.


Curve allows you to manage all of your bank cards from one convenient dashboard, but otherwise it’s not that useful: there are no budgeting or saving tools here at all.


Proclaimed the best digital bank of 2021 by Forbes, N26 is a great choice no matter what your needs are. It has all kinds of products and tools, and its fees are low. However, N26 doesn’t have any credit cards. 

Ознайомитись з твіттами автора Oleg Tkachenko.


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