With the banking industry rapidly evolving and changing with new technologies, there have been many new banking services appearing that every individual should be aware of. Many strong banking brands have been able to keep up with technological changes and advancements, but so have smaller and lesser-known banks that can truly offer a unique and competitive alternative to your typical big banks.
Here are three of our favorite lesser-known banking services that we think you should check out. Keep in mind that some of these banks are regionally based, such as this bank mentioned here that operates out of Texas.
1. Ally Bank
Ally Bank has been around since 1919, founded by General Motors to provide financial assistance to their customers. It was never really the bank we see today, however, until 2009, when it launched its online services.
Ally bank offers a wide variety of services and benefits to its customers, such as its high-yield savings account, which offers some of the best rates out there. It also has no monthly fees or minimum required amount in your account.
If you’re worried about the ease of withdrawing money using Ally Bank, don’t fear, as it has 55,000 AMs across the country.
To learn more information about Ally Bank, check out its website here.
2. Chime Bank
Chime Bank is an online banking service founded in 2013 with the goal of offering affordable banking to everyone through its online services. There are lots of unique benefits to Chime, such as the ability to receive direct deposits two days early, and a fee-free overdraft of up to $200. If you receive direct deposits, and don’t need to deposit cash often, then Chime Bank may just be the best fit for you.
The bank has a network of 60,000 ATMs, so withdrawing cash shouldn’t be an issue for you. It also has 24/7 online customer service, and is rated 4.3 out of 5 stars by Forbes Advisor. Check out the full review of Chime by Forbes here.
3. Discover Bank
Discover Bank is the biggest name on this list, but still a small name when it comes to other bank names, such as JP Morgan Chase or Bank of America. Discover Bank was founded in 1985 as a subsidiary of Discover Financial Services, and has since grown into the 29th largest bank in the U.S by asset size.
Discover is most well known for its credit card, the Discover Card, where it has almost 50 million cardholders across the country. Using your Discover Card with your savings account at Discover Bank, you can get access to neat benefits such as 1% cashback on certain purchases, including gas, grocery, and restaurant. It can be a great method of saving money if you use your credit card for these kinds of expenses often.
We recommend checking out each of these banks on your own and doing your own research, as there are a lot of different account options and things to consider when choosing where to bank.