Citibank checking accounts at a glance

Citibank offers several types of checking accounts aimed at serving your everyday or “premium” banking needs. There’s a large fee-free network of bank branches and ATMs, but you’ll need to read the fine print and watch out for hidden fees.

Starting with its Basic Banking account, members get access to unlimited checking, in-person banking, fraud monitoring and digital tools.

What do I need to open a Citibank checking account?

Opening a Citibank checking account is easy. Any U.S. resident can apply online with their Social Security number, date of birth and home address.

Not sure if Citibank checking is right for you? Consider an alternative.

• Discover Bank: If you want a checking account with cash back, Discover pays up to 1% on all debit card purchases (up to $3,000 monthly).

Discover checking accounts at a glance

Discover checking is a free online checking account — there’s no monthly maintenance cost — that pays 1% cash back on debit purchases.

Members get all the advantages of Discover’s network of more than 60,000 fee-free ATMs and the ability to write checks — all with almost no fees. Discover checking also offers free overdraft protection, access to your paycheck up to two days early when sign up for direct deposit, fraud  protection and the ability to use your Discover debit card with Apple Pay.

4 things to know about a Discover checking account

Here are some things to consider about checking with Discover.

1. Cash back rewards

Discover checking pays a straightforward cash back reward of 1% on all debit card purchases, up to $3,000 monthly. If you spend at least that much on your debit card every month, that’s an extra $30 per month, or $360 per year. It’s worth noting that, unlike some online banks, Discover doesn’t offer interest checking.

2. (Almost) no fees

Discover advertises its cashback debit account as a way to “earn cash back rewards with no fees” — and for a number of customers that may be true. There are no monthly fees, no minimum balance requirements and no activity minimums. Discover also does not charge fees for insufficient funds, issuing an official bank check, replacing a lost debit card, outbound ACH transfers or check reorders.

But there is an exception. Discover does charge $30 for each outgoing wire transfer. Also, note that while Discover does not charge any ATM fees outside of its network of more than 60,000 fee-free ATMs, the owner of an out-of-network ATM may assess a fee.

3. Overdraft protection

Discover checking offers all members access to an overdraft protection transfer service without any fees. This service allows you to link your Discover checking account to a deposit account, such as a savings account or a money market account.

Discover will automatically use the funds in your linked account to make the eligible purchase. But keep in mind that you’ll have to sign up for this service — you aren’t automatically enrolled. And if you don’t have enough money in your linked account, your transaction will be declined.

4. Early paycheck access

Discover checking includes a service called Early Pay. This perk allows you to receive your ACH direct deposit paychecks up to two days early.

What are the requirements to open a Discover checking account?

To open a Discover checking account, you need to sign up and download the Discover app. You’ll have to provide your name, email address and cell phone number.

Discover also lets you open a joint checking account.

RoarMoney checking accounts at a glance

RoarMoney is an online checking account with unique perks. RoarMoney’s banking partner is MetaBank, so qualifying deposits are FDIC-insured.

What bank is RoarMoney?

RoarMoney is a mobile checking solution from MoneyLion. MoneyLion is not a bank; it is a financial technology company.

Ally Bank checking accounts at a glance

Ally Bank offers online-only, interest-bearing checking accounts with a robust set of features. You’ll have to be comfortable doing your banking digitally since Ally doesn’t have any physical locations.

How do I open an Ally Bank checking account?

Opening a new Ally Bank checking account is simple. It only takes minutes. The online application allows you to provide personal details, including your address and your Social Security number. You can then fund your account. There currently is no minimum balance required to start banking with Ally, and online access is available almost immediately.

Is an online bank right for me?

The main difference between online banks and many traditional banks is that they don’t have a physical location. That trade-off may allow online banks to offer a better value proposition — such as higher interest rates on checking and savings accounts — than banks with physical locations.

But there are some potential disadvantages. Namely, not all online banks can accept cash deposits, they don’t have safe deposit boxes and they don’t offer notary services. Plus, some people just feel better when they can meet with a person face-to-face to discuss their finances.

That said, there is no reason you can’t open an account at a bank with a local physical location and also have an online-only account.