Stride Bank is a small online bank that offers checking and savings accounts without monthly fees

Stride Bank is an FDIC-insured online bank based in Oklahoma that focuses on basic checking and savings products. It does not charge monthly maintenance fees, overdraft fees, or minimum balance requirements on most accounts. The bank operates entirely online—there are no physical branches—so all transactions happen through their website, mobile app, or by phone.

Stride Bank is owned by Stride Bancorp, a publicly traded holding company. The bank has been operating since 1998 and serves customers across the United States. Because it has no branch network to maintain, it can keep costs low and pass those savings to customers through no-fee accounts.

Key Takeaways

  • Stride Bank offers FDIC-insured checking and savings accounts with no monthly fees, no minimum balance, and no overdraft fees on standard accounts.
  • All banking happens online through their website or mobile app; there are no physical branch locations.
  • The bank accepts direct deposit and allows transfers to and from other banks, but does not offer credit cards, loans, or investment products.
  • Stride Bank is regulated by the FDIC and the Office of the Comptroller of the Currency, the same way traditional banks are.

How Stride Bank accounts work

Stride Bank's main product is a checking account called the Stride Checking Account. You can open it online in a few minutes by providing your name, address, Social Security number, and initial funding method. Once approved, you receive a debit card in the mail and can start using the account immediately through their app.

The checking account comes with a routing number and account number, so you can set up direct deposit from your employer or receive payments from other sources. You can also transfer money to and from other banks using ACH transfers, which typically take one to three business days. The account does not pay interest on your balance.

Stride Bank also offers a savings account, though it functions more like a secondary checking account than a traditional savings product—it also does not pay interest. Some customers use it to separate spending money from money they want to set aside, but the lack of interest means it is not a tool for growing savings over time.

What Stride Bank does not offer

Stride Bank does not issue credit cards, offer personal loans, provide investment accounts, or manage retirement accounts. If you need credit, you will have to look elsewhere. The bank also does not offer overdraft protection or overdraft lines of credit, though it does allow you to link your savings account to your checking account for transfers if you run low on funds.

There is no physical way to deposit cash at a Stride Bank location because there are no branches. If you need to deposit cash, you will have to use a third-party ATM network or transfer money from another bank account you control.

FDIC insurance and account safety

Stride Bank is an FDIC-insured institution, which means your deposits are protected up to $250,000 per account type per depositor. This protection applies to your checking account and your savings account separately, so if you have both, you are covered up to $250,000 in each one. The FDIC may provide is backed by the federal government and applies even if the bank fails.

Your account is also protected by standard online banking security: encrypted connections, password protection, and fraud monitoring. If someone makes an unauthorized transaction on your debit card, you can report it to Stride Bank, and they will investigate. Debit card fraud liability is typically limited to $50 if you report it within two business days, and $0 if you report it before any fraudulent charges post.

Stride Bank compared to other online banks

Many online banks offer similar no-fee checking accounts: Ally Bank, Charles Schwab Bank, and Discover Bank all have checking products with no monthly fees and no minimum balance. The main differences between them are interest rates on savings (Stride pays none), ATM access (Stride has limited options), and customer service availability (Stride offers phone support during business hours).

Stride Bank is simpler than banks that offer investment accounts or multiple product types, which can be an advantage if you want a straightforward checking account and do not need anything else. It is also smaller and less well-known than Ally or Charles Schwab, which means fewer branch partnerships and fewer ATM options if you need cash access.

How to move money in and out

Direct deposit is the easiest way to get money into a Stride Bank account. You provide your employer with your Stride routing number and account number, and your paycheck deposits automatically on payday. Most employers process direct deposit requests within one or two pay cycles.

You can also transfer money from another bank account you own using ACH transfer. Log into your Stride account, enter the other bank's routing number and your account number there, and initiate a transfer. Incoming transfers typically arrive within one to three business days; outgoing transfers take the same amount of time.

To withdraw money, you can use your debit card at any ATM, though Stride does not have a large ATM network. You can also transfer money out to another bank account using ACH, or withdraw cash at a retail location if you make a purchase and ask for cash back.

When Stride Bank might be right for you

Stride Bank works well if you want a simple, no-fee checking account and do not need savings interest, credit products, or investment accounts. It is useful for people who receive direct deposit and do most of their spending by debit card. It is also a good option if you want FDIC insurance and a regulated bank but do not want to deal with branch locations or monthly fees.

Stride Bank is not the right choice if you need to deposit cash regularly, want interest on savings, need a credit card or loan, or prefer a bank with a large ATM network. In those cases, a traditional bank with branches or a more full-featured online bank like Ally or Charles Schwab may serve you better.

Frequently Asked Questions

Is Stride Bank safe?

Yes. Stride Bank is FDIC-insured, which means your deposits are protected up to $250,000 per account type. The bank is regulated by the Office of the Comptroller of the Currency and follows the same security and fraud prevention standards as traditional banks.

Does Stride Bank pay interest on savings?

No. Stride Bank's savings account does not pay interest. If earning interest on savings is important to you, online banks like Ally, Marcus, or Discover offer savings accounts with higher interest rates.

Can I deposit cash at Stride Bank?

Stride Bank has no physical locations, so you cannot deposit cash directly. You can transfer money from another bank account, set up direct deposit, or withdraw cash using your debit card at ATMs or retail locations.

How do I contact Stride Bank if I have a problem?

You can reach Stride Bank by phone during business hours or through their website. Response times vary depending on the issue, but the bank handles account problems through phone support and online messaging.

What happens if Stride Bank goes out of business?

Your deposits are protected by FDIC insurance up to $250,000 per account type. If the bank fails, the FDIC will either transfer your account to another bank or send you a check for your balance.