Ben Gran is a freelance contributor for Forbes Advisor on banking. He also writes for The Ascent (a Motley Fool service), where he covers insurance, credit cards, personal finance and investing. Ben has over 10 years of experience as a freelance content writer for regional banks, tech startups, and financial services companies like LendingTree and Prudential. He also works as a ghostwriter for business executives, with bylines in publications such as Fast Company, Entrepreneur and TechCrunch.
Ben Gran
Ben Gran is a freelance contributor for Forbes Advisor on banking. He also writes for The Ascent (a Motley Fool service), where he covers insurance, credit cards, personal finance and investing. Ben has over 10 years of experience as a freelance content writer for regional banks, tech startups, and financial services companies like LendingTree and Prudential. He also works as a ghostwriter for business executives, with bylines in publications such as Fast Company, Entrepreneur and TechCrunch.
Lauren Graves is an educator-turned-editor specializing in personal finance content. She seeks to make complicated topics easier to understand and less intimidating to the average reader with accurate, reliable information and transparent writing. Her expertise includes banking product reviews and general topics universal to personal finance such as saving and budgeting. Her work has been featured in Money Under 30, Investor Junkie, Doughroller, Saving for College and APY GUY.
Fact Checked
Lauren Graves
Lauren Graves is an educator-turned-editor specializing in personal finance content. She seeks to make complicated topics easier to understand and less intimidating to the average reader with accurate, reliable information and transparent writing. Her expertise includes banking product reviews and general topics universal to personal finance such as saving and budgeting. Her work has been featured in Money Under 30, Investor Junkie, Doughroller, Saving for College and APY GUY.
Editorial Note: We earn a commission from partner links on Forbes Advisor. Commissions do not affect our editors' opinions or evaluations.
Savings accounts are typically best for stashing money you don’t have plans to spend just yet. But sometimes, life throws you a curveball and you need to dip into savings to cover emergencies, or you meet a savings goal and are ready to use the money. When this happens, debit cards and ATM cards can offer the convenience of instant spending power or easy cash access.
Savings accounts rarely include debit cards you can use for purchases, but several savings accounts include ATM cards you can use to withdraw cash. Here are the best savings accounts with debit cards or ATM cards.
Annual percentage yields (APYs) and account details are accurate as of June 6, 2024.
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Best Savings Accounts With Debit Cards or ATM Cards Of 2024
Best for ATM Access
Axos Bank High Yield Savings Account
Annual Percentage Yield
0.61% on balances of less than $25,000
Minimum Deposit Requirement
$250
ATM Network
91,000+
Learn More
On Axos Bank's Website
0.61% on balances of less than $25,000
$250
91,000+
Editor's Take
We picked the Axos Bank High Yield Savings account because it’s a particularly good choice for savers who need ATM access. Account holders can request a free ATM card, and the bank boasts an impressive network of more than 91,000 ATMs nationwide.
Why We Like It
We like that this account offers its best rate, 0.61% on balances of less than $25,000, with no requirement to earn interest. For those who want to bank in one place, Axos offers several different checking accounts, including rewards options. If you opt into overdraft protection on checking, you can use this savings account to cover these transfers.
What We Don’t Like
We don’t like that this account has a minimum deposit requirement of $250 to open, which is higher than many other options. It also doesn’t offer a competitive interest rate compared to the best high-yield savings accounts and only narrowly beats the national average savings rate.
Who It’s Best For
Axos Bank has one of the largest ATM networks you’ll find, especially for an online bank. Consider the High Yield Savings account if you foresee needing to withdraw cash often, especially if you’re interested in any of Axos’ other products.
Pros & Cons
- Extensive ATM network
- Few fees
- Competitive APY on balances of less than $25,000
- 24/7 customer service
- Full-service bank
- Higher minimum opening deposit requirement
- Balances greater than $100,000 earn 0.15% APY
- Low interest rate compared to top accounts
- Very few branch locations
- Excess withdrawal fee of $10
Details
Interest is compounded daily and credited monthly for this account. Balances between 0.61% APY is reserved for balances under $25,000. Balances between $25,000 and $100,000 earn 0.25% APY. Balances of more than $100,000 earn 0.15% APY. Balance tiers are based on your end-of-day balance. Withdrawals and transfers are limited to six per month, and you will incur fees if you exceed this limit.
Best for High APY
Quontic Bank High Yield Savings
Annual Percentage Yield
4.50%
Minimum Deposit Requirement
$100
ATM Network
90,000+
Learn More
On Quontic Bank's Website
4.50%
$100
90,000+
Editor's Take
We picked Quontic Bank High Yield Savings because it delivers one of the highest APYs you’ll find on a savings account, especially when you narrow your options down to those with an ATM card. Anyone can request an ATM card at no cost to use at one of Quontic’s many fee-free ATMs.
Why We Like It
The Quontic High Yield Savings account charges no monthly maintenance fees and consistently—and handily—beats the national average savings rate. It requires a minimum deposit of $100, which is typical for a savings account, but all balances earn the same rate. Unlike many other online banks, Quontic has checking, money market and CD accounts for full-service banking.
What We Don’t Like
There isn’t much to dislike about this account, but it’s worth noting that many customers have complained about Quontic’s customer service on the bank’s Better Business Bureau profile. As an online-only bank, Quontic doesn’t operate branches for in-person service.
Who It’s Best For
Quontic High Yield Savings is best for anyone who wants to grow their savings while maintaining easy access to it when they need it. If you’re looking to save on banking fees and earn interest on your balance, consider this account.
Pros & Cons
- No monthly maintenance fee
- Low minimum balance to earn interest
- No balance caps on highest APY
- Interest compounds daily
- Live chat support
- No in-person branches
- Limited account funding options
Details
Interest is compounded daily and credited monthly. Accounts can be funded by bank transfers, ACH transfer or using Plaid bank account verification. Fees apply for dormant accounts, stop payments, outgoing wire transfers and returned items but are not charged for excess transactions or overdrafts. Quontic Bank is a member of the FDIC, and all deposits are insured up to the maximum limit of $250,000 per depositor.
Expert's Take
Quontic Bank has attractive technology to accompany a competitive interest rate on its high-yield savings account. You can deposit funds using Plaid, which is great for a tech-focused saver, and the bank’s continuous investment in new technology makes it a prime candidate for a long-term banking partner. The savings rate isn’t as high as Quontic’s competitors, but you might find the bank’s technology and convenience outweigh the higher return potential.
—Eric Croak, CFP and president of Croak Capital
Best Online Savings Account With a Debit Card
Alliant Credit Union High-Rate Savings
Annual Percentage Yield
3.10%
Minimum Deposit Requirement
$5
$100 required to earn dividend
ATM Network
80,000+
Learn More
On Alliant's Website
3.10%
$5
$100 required to earn dividend
80,000+
Editor's Take
The Alliant High-Rate Savings made our list because consumers who also have a checking account with Alliant can access their savings using their Alliant Visa debit cards. You’ll need to deposit a modest $5 to open an account and earn interest, but the minimum balance required to keep an account is just $5.
Why We Like It
This savings account offers a reasonably high interest rate and easy access to thousands of surcharge-free ATMs with a debit card or the Alliant Savings ATM Card. The monthly fee is $1, which can be waived by simply choosing electronic statements over paper statements.
What We Don’t Like
We don’t like that this savings account requires an Alliant checking account to get a debit card and only offers an ATM card to customers who don’t have checking. Its interest rate is also lower than that of the best high-yield savings accounts, though still far better than average.
Who It’s Best For
If you’re willing to join a credit union and open a checking account to get a savings account with a debit card, the High-Rate Savings account may be the best option for you. Digital-only Alliant Credit Union is worth joining because it offers higher rates, more perks and fewer fees than many banks.
Pros & Cons
- Competitive APY
- Open as many as 19 supplemental savings accounts
- Reimbursement for the initial $5 deposit
- $1 monthly fee for paper statements
- $100 minimum to earn dividends
Details
Dividends are compounded monthly and credited on a monthly basis. You must maintain a $5 minimum to keep the account open and a $100 minimum balance to earn dividends. Alliant charges a $1 monthly fee to receive paper statements.
Best for No Minimums
UFB Secure Savings
Annual Percentage Yield
Accurate as of 3/28/2024
Up to 5.25%
Minimum Deposit Requirement
$0
ATM Network
91,000+
Learn More
On UFB Direct's Website
Accurate as of 3/28/2024
Up to 5.25%
$0
91,000+
Editor's Take
We chose the UFB Direct Secure Savings account as one of the best savings accounts with an ATM card because it requires no minimum deposit and doesn’t charge monthly maintenance fees. Plus, its up to 5.25% APY on all balance tiers is one of the highest available.
Why We Like It
We like that UFB Secure Savings pays the same rate on all balance tiers and that account holders can access ATMs free almost anywhere in the country.
What We Don’t Like
In terms of its shortcomings, UFB Direct offers limited account options. With only one checking account, one savings account and one money market account—and no CDs—this bank is not a one-stop shop for your banking and financial needs.
Who It’s Best For
This account is best for individuals who aren’t sure how much money they’ll keep in savings but know they’ll benefit from having no minimum deposit or balance requirements to worry about.
Pros & Cons
- Includes an ATM card
- No monthly fees
- No minimum balance or deposit requirements
- Interest compounds daily
- No in-person branches
- Excess transaction fees
Details
UFB Direct accounts are offered through FDIC-member Axos Bank, and all deposits are insured up to the maximum limit of $250,000 per depositor. While this account technically has balance tiers, all balances currently earn the same rate. You earn up to 5.25% APY on all balance tiers with no activity or minimum requirements you have to meet to qualify. Interest is compounded daily and credited monthly. Most transactions are limited to six per statement period, and transactions in excess of this limit will incur a $10 excess withdrawal fee.
Expert's Take
UFB Direct’s Secure Savings account offers an impressive APY, and due to its expanded FDIC insurance coverage, it’s a strong choice for anyone looking to save more than $250,000. The bank also offers account alerts via text, which has become increasingly popular in recent years.
—Eric Croak, CFP and president of Croak Capital
Best for Branch Access
Hughes Federal Credit Union Daily Savings
Annual Percentage Yield
0.05%
Minimum Deposit Requirement
$0.01
ATM Network
30,000+
0.05%
$0.01
30,000+
Editor's Take
Hughes Federal Credit Union, a regional credit union based in Arizona, made our list because its flexible Daily Savings account provides not only ATM access but also branch banking access.
Why We Like It
We like how easy this account makes withdrawing funds. It permits members to access cash via both ATM and debit cards through the Co-op ATM network, and those in the Tucson area can also walk into a Hughes branch or shared credit union branch to manage their accounts.
What We Don’t Like
This account’s 0.05% APY isn’t going to give you the highest returns on your savings possible and is poor even compared to the national average rate across all financial institutions.
Who It’s Best For
The Hughes Federal Daily Savings account isn’t the right choice for maximizing interest, but this account may be the best choice for you if you want to join a credit union and visit branches. Just note that unless you live in Arizona, you’ll likely be visiting a shared credit union branch rather than a branch operated by Hughes FCU.
Pros & Cons
- Free ATM or debit card
- No monthly maintenance fee
- Low minimum opening deposit and balance requirements
- Branch locations
- Low rate compared to top accounts
- Relatively smaller ATM network
- Hughes Federal branches only in Arizona
Details
Savings dividends (what credit unions call “interest”) are compounded daily and credited quarterly for this account. Third-party fees may apply for ATM and point-of-sale transactions.
Summary : Best Savings Accounts With Debit Cards or ATM Cards
Can You Get a Debit Card for a Savings Account?
Most savings accounts do not come with a debit card. This is because savings accounts are not transaction accounts intended for frequent spending and transfers, like checking accounts, but are meant for safely storing cash. In fact, under the previous terms of the federal rule called Regulation D, banks were required to restrict savings account activity to six “convenient transfers or withdrawals” per month. This was to discourage consumers from removing their savings and leaving banks without cash reserves. This rule was revised in 2020, and the limit was lifted, but many accounts still set activity restrictions.
That said, some savings accounts include debit cards or ATM cards to provide flexibility and convenience when transfers and withdrawals are necessary. These are usually available by request. In some cases, customers can use a single debit card to access both their checking and savings accounts.
Can You Withdraw Money From a Savings Account at an ATM?
There are a few different ways to withdraw money from a savings account at an ATM. ATM cards and debit cards, when they’re included with your account, make it easy to withdraw your savings as cash. You can often do this for free at in-network ATMs. Some savings accounts, such as online savings accounts, usually do not include physical cards and may require you to use your mobile banking app at a cardless ATM to make a withdrawal. Others might not offer ATM access at all.
If you do have a debit card or ATM card with your savings account, look for an ATM in your bank’s network to avoid surcharges. These machines can be found attached to bank and credit union branches, at convenience stores and gas stations or as stand-alone locations. If you can’t find an in-network ATM, you will likely pay fees to both your bank and the machine’s owner.
What's the Difference Between an ATM Card and a Debit Card?
Debit cards and ATM cards serve different purposes for banking customers. An ATM card is a card specifically designed for use at ATMs, and you can generally only use these to make withdrawals or check your account balance. Sometimes, you can also initiate deposits with an ATM card.
A debit card, on the other hand, is designed for regular spending and withdrawing. You can use these to make PIN-based purchases at point-of-sale locations and online merchants, take money out at ATMs and transfer money. Debit cards can also be linked with mobile wallets and bill payment platforms. Overall, ATM cards offer much more limited functionality than debit cards, but both can be helpful for immediately cashing out savings.
Savings Account Alternatives
If you aren’t sure if a savings account is the right choice, either because you want to earn more interest or have more spending power, here are a few savings account alternatives to consider.
- Money market accounts. Money market accounts blend checking and saving features. They earn competitive variable rates but often include a debit card or checks, like checking accounts. As a rule, the best money market account rates are often higher than top savings rates. As of June 2024, the average savings account earns 0.45%, while the average money market account earns 0.67%, according to data from the FDIC.
- Certificates of deposit (CDs). Certificates of deposit or CDs are time deposit accounts that let you earn fixed interest on your savings for a specific length of time or “term.” Terms typically range from one month to 10 years. When a term is up, a CD is said to mature. CD funds are locked until maturity, and withdrawing funds before this often results in steep early withdrawal penalties. CD rates tend to be the highest among deposit accounts.
- High-yield checking accounts. Some banks and credit unions offer high-yield checking accounts. These let you spend and deposit freely while earning interest on your balance. APYs are usually lower on these checking accounts than savings accounts, but interest-bearing checking provides more flexibility than all alternatives mentioned.
Methodology
To create this list of the best savings accounts with a debit or ATM card, Forbes Advisor analyzed savings accounts at 280 financial institutions, including a mix of traditional brick-and-mortar banks, online banks and credit unions. We ranked each account on 14 data points within the categories of fees, in-person access, APYs, customer experience, digital experience and minimum deposit and balance requirements. Subcategories within these areas allowed us to further hone our analysis.
Each account was rated on a scale of one to five based on the following weightings:
- Fees: 30%
- Access: 20%
- APYs: 20%
- Digital experience: 10%
- Customer experience: 10%
- Minimums: 10%
Only accounts that are nationally available and include an ATM card received final scores. We also considered whether an account had a complicated tier structure or requirements to earn the APY or other stipulations to earn interest or dividends. Savings accounts with lower and fewer fees, higher APYs, larger branch and ATM networks, better customer and digital experience and lower minimum deposit requirements were ranked higher.
To learn more about our rating and review methodology and editorial process, read our guide on How Forbes Advisor Reviews Banks.
Find The Best High-Yield Savings Accounts Of 2024
