When it comes to online banking for U.S. digital nomads, Charles Schwab Bank is usually the top recommendation. That’s because it offers strong features tailored for travelers.
But in recent years, new competitors have entered the scene—bringing equally attractive, and in some cases even better, banking options.
In this guide, we’ll take a close look at three of the best online banks in the U.S. for digital nomads: Aspiration Bank, Simple Bank, and Ally Bank. We’ll compare them using key criteria important to remote travelers so you can decide which one fits your lifestyle and financial needs best.
What Digital Nomads Need from a Bank
For nomads living and working abroad, certain banking features are essential. We’ll evaluate each bank based on the following four factors:
- Customer Support – How well does the bank communicate online or by phone? Can it send cards to international addresses? Is the card usable globally? How long can you be abroad before needing to update a travel notice?
- ATM Fees – Does the bank refund international ATM fees? How much does it charge for currency conversions or withdrawals?
- Transfers – What are the costs for sending and receiving domestic and international wire transfers?
- Mobile App – How user-friendly is the bank’s mobile app? Does it include features like card blocking, PIN resets, or budgeting tools?
Each category will be rated from 0 to 2 points. Support gets up to 4 points since it involves multiple sub-questions. Let’s go through the banks alphabetically.
Ally Bank
Support: 3/4
Ally Bank offers 24/7 customer support, which is a big plus. Even when calling from Thailand on a Saturday, support was quick to answer and helpful, even during spotty internet. They can ship debit cards to international addresses, though delivery could take up to two weeks and there’s no guarantee the card will arrive.
There are certain countries where Ally Bank restricts card usage due to sanctions or security risks. This includes places like Cuba, Iran, North Korea, and parts of Africa and the Balkans.
You can notify Ally of your travel plans for up to one year in advance, and extend the notice with another call. You’ll need to inform them of the countries you plan to visit to prevent your card from being blocked.
ATM Fees: 1/2
Ally Bank doesn’t charge fees for withdrawals from their end. But there is a foreign transaction fee of up to 1% for currency conversions. While they refund up to $10 in ATM fees each month, this only applies to U.S.-based ATMs. International ATM fees, which can run up to $5 per transaction, are not reimbursed.
Transfers: 1/2
You can receive domestic and international wire transfers for free. But sending a domestic wire costs $20, and Ally doesn’t support outgoing international wires, which can be a limitation for nomads.
App: 1/2
Ally’s mobile app includes a separate tool called Card Controls, which lets you manage spending limits, transaction types, merchant categories, and even locations where your card can be used. While this gives you excellent control, it’s a third-party tool, and reviews are mixed.
Users have raised concerns about data privacy, and since it’s not integrated into the main Ally app, it can be inconvenient. Also, Ally doesn’t offer any built-in budgeting tools, so they lose a point here.
Ally Bank – Pros & Cons
Pros:
- 24/7 support
- Strong card control features
- No ATM fees from Ally Bank itself
Cons: - No international outgoing wire transfers
- Limited ATM fee refunds abroad
- No built-in budgeting tools
Aspiration Bank
Support: 2/4
Aspiration’s support hours are limited to weekday business hours and short weekend hours (Pacific Time), which isn’t ideal for people in far-off time zones. However, they mentioned plans to expand their support as their team grows.
They don’t ship cards to international addresses. All cards are only mailed to U.S. addresses on file.
You can use your card in most countries. But if you’re in a high-fraud area, your card might get flagged. If that happens, you can contact their card provider at the numbers provided.
You can put in a travel notice for up to 1.5 years, and renew it as needed. Just remember to inform them before traveling to a new country.
ATM Fees: 2/2
Aspiration is a clear winner for ATM fees. Although they charge a 1.1% international transaction fee, they fully refund all ATM fees every month, no matter where you withdraw from. Refunds appear around the 10th of each month, covering all ATM fees from the prior 30 days.
To be safe, they recommend keeping your withdrawal receipts in case the ATM doesn’t log the fee correctly and you need to request a refund manually.
Transfers: 0/2
Aspiration charges $10 for incoming and $20 for outgoing domestic transfers. International transfers are even more expensive—$10 incoming and $40 outgoing. What’s worse, you can’t do any outbound wire transfers during your first 90 days, meaning your funds are locked if something urgent happens. That’s a big red flag.
App: 0/2
Aspiration’s mobile app lacks both card control features and budgeting tools. It’s a pretty basic app without the features many digital nomads rely on.
Aspiration Bank – Pros & Cons
Pros:
- Full international ATM fee reimbursements
- Good fraud protection and long travel notice window
Cons: - No card shipping to international addresses
- No app features for budgeting or card control
- High fees for transfers, especially international
Simple Bank
Support: 2/4
Simple Bank offers 24/7 customer service, which is great. When asked about sending cards abroad, they gave a vague answer—it’s possible but requires internal approval, and may take two weeks to arrive. That uncertainty means they don’t earn the point for foreign card delivery.
The card can’t be used in over 30 countries due to risk or regulation, including places like Nigeria, Colombia, North Korea, and several in the Middle East and Eastern Europe.
You can stay abroad for up to a year on a travel notice, and renew it as needed. Notices can be updated directly through the app or over the phone.
ATM Fees: 1/2
Simple does not charge fees on its end, and offers Visa’s wholesale exchange rates plus a 1% international fee. But they do not refund any ATM fees charged by foreign ATM providers, which is a drawback.
Transfers: 2/2
Simple Bank excels in transfers. Domestic wires are free, and international incoming transfers are accepted. Outgoing international transfers aren’t offered, but Simple still wins this category because most basic wire needs are covered and cost nothing.
App: 2/2
Simple’s app is one of the most powerful banking apps available. It includes built-in tools to block your card, reset your PIN, and manage spending. Plus, it comes with excellent budgeting features like Goals, which help you plan ahead and stick to savings strategies.
Simple Bank – Pros & Cons
Pros:
- Excellent app with budgeting and card control
- 24/7 support
- Free domestic transfers
Cons: - Vague policy on sending cards internationally
- Doesn’t refund foreign ATM fees
- No outgoing international transfers
How Do These Banks Compare to Charles Schwab?
Charles Schwab Bank is often considered the gold standard for digital nomads. It’s known for refunding all ATM fees worldwide and charging zero international transaction fees, beating even Aspiration in the ATM category.
Unfortunately, Schwab can be harder to join if you have a low credit score, as some applicants have reported being denied due to student loan-related issues. If you can qualify though, it’s worth it.
Final Thoughts and Recommendations
Each of these banks is strong in its own way, and which one is best for you depends on your priorities. My suggestion? Open accounts with more than one, and take advantage of what each bank does best.
Here’s a smart setup:
- Use Simple as your main account—it has the best app, great budgeting tools, and strong customer support.
- If you’re eligible, get a Charles Schwab account for ATM withdrawals.
- If you can’t get Schwab, use Aspiration for ATM withdrawals, since they refund all fees monthly.
- Keep Ally Bank as a backup—it has good customer service and useful card control features.
Travel comes with risks—cards get lost, ATMs eat cards, fraud happens. Having multiple banking options helps you stay one step ahead.
A Word of Thanks
Thanks so much for taking the time to read this detailed breakdown. I hope it helps you make smarter decisions when managing your money abroad. If you found it useful, please share it or subscribe to Nomad Gate’s newsletter for more guides like this.
– Derick Ruiz, digital nomad currently in Thailand, contributor to Nomad Gate, and advocate for helping developers go location-independent.
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