Online banks are popular tools for consumers wanting high savings rates and easy money management these days. But as a new study from J.D. Power shows, not all options are created equal.
In fact, two well-known names apparently deliver much better customer service than other online options.
At least that’s the case according to J.D. Power, which just released its 10th annual 2026 Direct Banking Satisfaction Study. The study looked at dozens of online-only banking options, including popular ones such as American Express (AXP), Ally, Chime, SoFi (SOFI), Robinhood (HOOD), and Capital One (COF).
J.D. Power’s study ranked online banks in two categories: checking accounts and high-yield savings accounts. The review considered each bank’s customer service, the ease with which you can move money in its accounts, money growth opportunities, overall trustworthiness, and any online and app-based account management tools offered.
Schwab takes the cake for most satisfied online checking account customers
On the checking-account side, Charles Schwab Bank took the crown, scoring a 750 out of 1,000.
That’s the highest score on both lists and over 100 points more than the category average (637). It’s the eighth consecutive year in which Schwab has ranked first.
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Other online banks that scored above average were American Express (AXP), Ally, Chime, Capital One, SoFi, Robinhood, and PayPal (PYPL). Side note: Am I the only one who wasn’t even aware PayPal offered banking services?
Many more banks scored below average, including popular neobank Acorns, which combines checking accounts with “spare change” micro-investing services. GO2Bank, Albert, Dave, Walmart MoneyCard (WMT), and Wisely by ADP (ADP) were ranked the lowest.
Marcus by Goldman Sachs typically offers some of the industry’s highest interest rates.
Photo by Cheng Xin on Getty Images
Marcus by Goldman Sachs wins customers over with high-yield savings accounts
In the high-yield savings account provider segment, Marcus, the online bank launched by Wall Street behemoth Goldman Sachs 10 years ago, scored highest. As a customer of the bank myself, I’m not too surprised.
Marcus typically has some of the highest interest rates around, and the ease with which you can set up an account and transfer money in and out is pretty stellar. (I even wrote a story about it a few years ago and opened accounts for both my kids there a few weeks ago.)
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Now, Marcus didn’t score quite as high as Schwab did in the checking-account segment, but it still clocked a notable 749 out of 1,000 score — well above the 674 average for all savings account providers.
Other banks that scored above average in the savings-account category were Ally, Chime, Capital One, E*TRADE from Mortgage Stanley (MS), Barclays (BCS), SoFi, and American Express. At the bottom of the list, again, were Albert, GO2Bank, and Dave. Acorns and Credit Karma Money were in the bottom five, too.
J.D. Power’s rankings have changed
J.D. Power has for years released customer satisfaction ratings across dozens of categories, including insurance providers, mortgage lenders, banks, and more. And while its Direct Banking Study is one of the new ones, it actually just got a revamp this year, the analytics firm says.
More than 16,000 customers were surveyed for the study, with responses fielded from December 2025 to February 2026.
According to Paul McAdam, senior director of financial services intelligence at J.D. Power, this year’s findings show a customer service disconnect between true online banks and neobanks — fintech companies that offer selective banking services.
“Many neobanks are not performing as well as online banks when it comes to basic blocking and tackling in areas like the convenience of reaching customer service and single-contact problem resolution,” McAdam says. “While these challenger brands excel at fast funds availability and practical financial health support, their day-to-day customer service is not as strong as it needs to be.”