Best Savings Accounts with Debit Cards

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• Several financial institutions offer savings accounts with debit cards or ATM cards.
• You might like a bank account with card access if you use ATMs or want direct access to your money.
• If you'd like to have a card linked to your savings account, be mindful of how you use it.

Generally, people use checking accounts for everyday expenses and savings accounts to build up emergency funds and savings goals. This is because checking accounts offer easier access to funds through avenues like debit cards and checks.

If you're looking for a high-yield savings account that also offers the same easy access to your funds as checking accounts do, you might be interested in a savings account with a debit card. Although, less common, there are accounts available at select banks.

Understanding Savings Accounts with Debit Cards

What is a Savings Account with a Debit Card?

Usually, only checking accounts or money market accounts offer a debit card. However, if you'd like direct access to money in a savings account, you also have some options to choose from.

Some financial institutions have savings accounts with debit cards so that you can access your money for purchases or ATM withdrawals. Several others also offer savings accounts with ATM cards linked to an account, strictly for ATM usage.

Benefits of Having a Debit Card Linked to Your Savings Account

If you open a savings account with a linked debit card, you'll have easier access to your savings account funds than you would otherwise, where you'd need to transfer your money to another bank account or go into a physical branch. While this can be a benefit, keep in mind that this could also make it easier to spend your savings without thinking of it, making it harder to build toward your savings goals.

Average savings account interest rates are generally higher than average checking account interest rates, so you could end up earning more on your funds over time if you go with a savings account with a debit card over a checking account.

If you use an online bank, having a debit card will let you withdraw cash at ATMs. This might be the only way for you to withdraw money from your account if your bank doesn't have physical branches.

Differences Between Savings and Checking accounts

When comparing savings accounts vs checking accounts, keep in mind that savings accounts frequently put limits on how many times you can withdraw money per month, unlike checking accounts. If that applies to your savings account, make sure you're not using your debit card too many times a month, or consider using a checking account or prepaid debit card for your daily expenses.

Here's a list of the top banks for savings accounts with debit cards or ATM cards, and what to consider when selecting an account.

Savings Accounts with a Debit Card or ATM Card

1. Amalgamated Bank

What to know about Amalgamated Bank: Amalgamated Bank is an eco-friendly bank with open branches in Washington, DC, and the New York City area. It also offers online-only checking and savings accounts if you don't live in these places. 

The Amalgamated Bank Give-Back Savings Account is an online-only savings account that comes with an ATM card.

2. Alliant Credit Union

What to know about Alliant Credit Union: Alliant Credit Union is an online institution. You can open accounts from anywhere in the US as long as you become a member. The easiest way to become part of Alliant Credit Union is by joining Foster Care to Success (Alliant will cover your $5 joining fee).

The Alliant High-Rate Savings Account offers an ATM card if you don't have Alliant checking account debit card.

3. Bank of South Texas

What to know about Bank of South Texas: Bank of South Texas is a Hispanic American-owned bank with branches in the following cities in Texas: Pharr, McAllen, Kingsville, Hebbronville, and Mission.

You can get a free ATM card with a Bank of South Texas Savings Account.

4. Bethpage Credit Union 

What to know about Bethpage Credit Union: Bethpage Federal Credit Union has 33 branches around New York State. You may also open an account online if you don't live near a branch. To join Bethpage FCU, you just need to open a Bethpage Federal Credit Union Savings Account account with $5. This savings account also comes with an ATM card.

5. Caribe Credit Union

What to know about Caribe Credit Union: Caribe is a Hispanic American-led credit union with branches in the following cities in Puerto Rico: San Juan, Guaynabo, and Ponce. The credit union's savings account also has a debit card included.

6. Charles Schwab

What to know about Charles Schwab: Charles Schwab is primarily known for its investment services, but it also offers banking products. You access money from the Schwab Bank High Yield Investor Savings® Account with a Schwab Bank Visa Platinum Debit Card.

7. Connexus Credit Union

What to know about Connexus Credit Union: Connexus Credit Union is an online financial institution with branches in Wisconsin, Minnesota, Ohio, and New Hampshire. The easiest way to become a member of Connexus is to join the Connexus Association by making an initial $5 donation.

You can get a debit card with the Connexus Credit Union Members Savings Account.

8. Hope Credit Union

What to know about Hope Credit Union: Hope Credit Union is a Black-owned credit union with branches in Alabama, Arkansas, Louisiana, Mississippi, and Tennessee. You can get an ATM card with the Hope Credit Union Share Account.

Anyone can become a member of Hope Credit Union. You just have to pay the one-time $10 membership fee.

9. Interamerican Bank 

What to know about Interamerican Bank: Interamerican Bank is a Hispanic American-owned bank with branches in Miami, Florida, and West Palm Beach, Florida. An ATM card is available with the Interamerican Bank Regular Savings Account.

10. LendingClub

What to know about LendingClub: LendingClub is a personal loan provider and online banking institution. You may request an ATM card with the LendingClub LevelUp Savings Account.

11. Puerto Rico Federal Credit Union 

What to know about Puerto Rico Federal Credit Union: Puerto Rico Federal Credit Union is a Hispanic-American-led financial institution with one branch in Caparra and a second in Quebradillas. You can request an ATM card with the Puerto Rico Federal Credit Union Regular Actions Account.

To become a member, you'll need to open a regular shares account and meet certain membership requirements.

12. SoFi®

What to know about SoFi: SoFi is a fintech platform that offers loans, investment accounts, and banking options. SoFi Checking and Savings (Member FDIC) is a hybrid bank account that combines checking and savings features. It also includes a debit card.

13. Synchrony

What to know about Synchrony: Synchrony is an online-only institution with savings accounts, money market accounts, and CDs. The Synchrony High Yield Savings Account has an ATM card. You can also use it to make purchases at stores by entering your PIN.

14. Transit Employees Federal Credit Union

What to know about Transit Employees Federal Credit Union: Transit Employees Federal Credit Union is a minority-led credit union. It has one branch in Alexandria, Virginia, and one in Washington, DC. To become a member, you'll need to meet certain membership requirements.

You may get an ATM card if you open the Transit Employees Federal Credit Union Share Savings Account.

15. UFB Direct

What to know about UFB Direct: UFB Direct is an online division of Axos Bank. You can get UFB Portfolio Savings with an ATM card.

16. USAA

What to know about USAA: USAA is a diversified financial services group that has insurance, investing, banking, and retirement options. You can get an ATM card with the USAA Savings Account.

17. Valley National Bank 

What to know about Valley National Bank: Valley National Bank is a regional financial institution. It has over 200 branches in New York, New Jersey, Florida, and Alabama.

The Valley All Access Savings Account comes with an ATM card.

How to Choose the Right Savings Account with a Debit Card

Interest Rates and Fees on Accounts

One perk that savings accounts have over checking accounts is high interest rates; you're far more likely to find a savings account with 5% interest than a checking account. When deciding on a savings account with a debit card, consider how much interest rates matter to you and try to pick an account with high interest.

The best savings accounts with debit cards don't charge monthly maintenance fees, so look for no- or low-fee savings accounts with debit cards when you're deciding what bank to go for. If you're not planning on putting much money in your account to start with, you'll also want to check if the account requires a minimum opening deposit. And if you're planning on using ATMs frequently, you'll want to figure out what ATM fees your bank will charge or reimburse.

Accessibility and Convenience on Accounts

If you're planning on using your debit card at ATMs frequently, it's important that the financial institution you choose have plenty of in-network ATMs near you. If you use out-of-network ATMs, you'll probably be charged fees by the ATM owner in addition to any fees your bank would charge. The best banks for avoiding ATM fees will reimburse a certain amount of out-of-network ATM fees a month, though.

Customer Service and Support at a Bank

You'll also want to make sure that your potential financial institution will meet your customer service needs, as well. If you know you'll need to call the bank outside of normal business hours, consider a bank with 24/7 customer support. 

Setting up a Savings Account with a Debit Card

How to Open a Savings Account with a Debit Card

What you'll need to do to open your new savings account will depend on the bank you're interested in, but it's generally pretty easy. Many banks let you apply online; you'll fill out an online application, which will require you to provide some personal information. Generally, you'll be able to open an account in minutes. You can also open an account over the phone or go into a physical branch to open an account; customer service will help you through the process.

Required Documentation for Savings Accounts with Debit Cards

Exactly what you need to open a bank account will differ from bank to bank. Generally, you'll need to provide personal information such as your name, your physical address, government ID, and your Social Security number or individual taxpayer identification number, although not every bank lets you use the latter. If your bank account comes with a minimum opening deposit, you'll also need to provide a way to fund the account, whether through transferring the money from another bank account or providing cash.

Linking Your Debit Card to Your Savings Account

The process for linking your debit card to your savings account will depend heavily on what savings account you get. When you receive your debit card, follow the instructions your bank provides to link it to your savings account.

Managing Savings Accounts with Debit Cards

Tips for Efficiently Using Your Debit Card

In order to most efficiently use your debit card, make sure you avoid bank fees. If you withdraw money from your account too many times a month, you might be hit with fees. You might also be hit with fees if you use out-of-network ATMs.

If your account comes with a cash-back debit card, check to see how you can earn cash back. Some cash-back debit cards only give you cash back at certain locations or for certain types of purchases. Make sure to choose a card that aligns with how you spend.

Monitoring Your Account and Debit Card

It's always important to monitor your bank accounts regularly, but it's especially important if you have a debit card hooked up to your savings account.

If your debit card information is stolen, you could end up with a depleted emergency fund if you don't keep an eye on your balance. 

Sometimes you might also be denied debit card transactions when you have a negative account balance, so checking your account balance regularly can help prevent that, too.

Avoiding Common Pitfalls for Savings Accounts with Debit Cards

The easiest pitfall to fall into if you have a savings account with a debit card is to accidentally spend money you meant to save. You'll want to work out how to budget your savings ahead of time so you know exactly how much you're able to spend each month without spending money you have earmarked for something else.

Additionally, make sure to plan your ATM usage ahead of time so you don't end up paying ATM fees you could have avoided.

Why You Should Trust Us: How We Reviewed the Best Savings Accounts with Debit Cards

Business Insider's personal finance team is editorially independent; you can learn more about how we review products through our editorial standards page. 

For our top picks, we looked at national, regional, and local banks that offered savings accounts with debit cards. We narrowed down our list by including accounts with at least 3.5/5 stars.

We rate bank products on a scale from one to five stars, with one star being the lowest rating, three stars being an in-between rating, and five stars being the highest rating possible.

We use a weighted average to get our star rating, which means we weigh certain features, like interest rates and fees, at a higher weight percentage than others. We understand that these areas can more heavily impact a person's overall banking experience.

Savings Accounts with Debit Cards FAQs

Kit Pulliam

Banking reporter

Kit Pulliam (they/them) is a banking expert who specializes in certificates of deposit, savings accounts, and checking accounts. They’ve been reporting, editing, and fact-checking personal finance stories for more than four years. ExperienceIn college, Kit worked as an undergraduate research assistant in a psychology lab. While there, they found that they were passionate about writing and helping others write about topics that matter.Before Business Insider, Kit was an editorial specialist for Tax Analysts, diving into the tax code to help readers get the best information about a confusing but necessary subject.They find banking similar to taxes in that way: There are some things everyone needs to know because just about everyone needs to work with a bank — and you don’t want to end up with an account that doesn’t serve your needs.As interest rates change, they enjoy the fast pace of reviewing rates for products like CDs and high-yield savings, which can change daily and have a direct impact on readers’ money.Their work has been featured in Business Insider and MSN. They were part of the My Financial Life series with Business Insider.ExpertiseTheir expertise includes:

• Certificates of deposit
• Savings accounts
• Checking accounts
• CD rates
• Bank reviews

EducationKit is an alumnus of Vanderbilt University, where they studied English and psychology and received the Jum C. Nunnally Honors Research Award for their senior thesis.Outside personal finance, Kit enjoys reading, film, video games, and cross stitching. They are based in the DC area.

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Evelyn He

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Evelyn He is a compliance and operations associate for Business Insider’s Personal Finance team. Evelyn ensures content accuracy and editorial independence so readers get the most up-to-date and objective financial advice, enabling them to make informed financial decisions.ExperienceAs part of the compliance team, Evelyn helps fact check Personal Finance stories and works to make sure that the language is clear, precise, and compliant with government regulations and partner guidelines. Previously, Evelyn worked as a compliance specialist for Apellis Pharmaceuticals and a legal assistant at the law firm Morrison Mahoney.ExpertiseEvelyn is an expert in the following areas:

• Compliance
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• Search engine optimization (SEO)
• Content strategy

EducationEvelyn earned a bachelor’s degree in business administration from UMass Amherst and a master’s in marketing from Boston University.Evelyn has two dogs, Money and Tibber.

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