Having financial stability requires some planning but there are some unplanned expenses that can impact your budget but building an emergency fund with an online bank is easy to manage for unexpected costs. 

Trying to manage your finances can require a lot of planning but some of the biggest expenses can come unexpected costs in the case of an emergency. It seems like there are limited options in avoiding the unknown but building an emergency fund can help with easy online banking programs with some offering low or no fees. Discover Bank is one of the most affordable online banking options offering savings and checking accounts with no fees or required deposits. This online banking program has a competitive APY at 0.40% with the opportunity to upgrade to 0.50% APY for long-term deposits. Discover Bank offers a mobile app that allows you to pay bills, manage accounts, and deposit your checks. One thing to consider before committing to this bank is they don’t offer ATM card support for the savings account, but ATM services are available for the checking account. Varo Bank offers one of the highest APY rates that are four times higher or more compared to other banks in the nation with an APY rate of up to 2.8% when meeting the bank requirement. To reach a 2.8% APY, the bank requires customers to make a direct deposit of $1,000 and make five purchases using the Varo Bank Debit Card. Varo Bank doesn’t have monthly fees, minimum deposit requirements, or ATM availability with the alternative of using the Allpoint Network. This online banking program offers easy features including a mobile app to manage your account and customers having access to automated financial tools that is easy to set up for savings. Frequent users of both checking and savings accounts should look into Axos Bank with a unique checking account program that features CashBack Checking with a cap of $2,000 cash back per month. Axos Bank offers an APY rate of up to 1.25% with few requirements one being a deposit of $250 for a high-yielding savings account. Customers with a high-yield account can use an ATM card for easy access to the account with the added benefit of no monthly fees and no tiered rates. All customers will get the same APY as all customers regardless of the deposit amount for Axos Bank.