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Banking

What is an online bank?

Quick Answer

An online bank is a fully digital bank with no physical branches — Ally, Marcus, SoFi, Capital One 360, Discover Bank, and Charles Schwab Bank are leading examples.

Online bank advantages: higher APY, no fees, ATM reimbursements.
Warren Team
Updated April 26, 2026
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Important Disclaimer:

The information provided is for educational purposes only and should not be considered as personalized financial advice. Warren is a registered investment advisor. Past performance does not guarantee future results. Please consult with a qualified financial advisor before making investment decisions.

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