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Our experts answer readers’ investing questions and write unbiased product reviews (here’s how we assess investing products). Paid non-client promotion: In some cases, we receive a commission from our partners. Our opinions are always our own.

Online financial advisors are more accessible, and often cheaper, than human advisors who actively manage investment portfolios. They’re a good option for beginner investors and hands-off investors at any wealth level.

For this list, we didn’t consider companies that match clients and advisors for comprehensive financial planning services, such as Zoe Financial or Facet Wealth. Instead, we focused on tech-driven firms where you can access an automated and personalized portfolio and consult a professional for advice when you need it.

Best Online Financial Advisors

Compare the Best Online Financial Advisors

Online Financial Advisors Frequently Asked Questions (FAQs)

Best for Low Fees 

SoFi Automated Investing

Investment account types: Individual and joint taxable brokerage, traditional IRA, Roth IRA, and SEP IRA.

What stands out: 

• Zero advisory fees
• Free one-on-one consultations with CFPs, a service that isn’t offered by some robo-advisors that charge an annual fee
• Portfolios invest in both SoFi ETFs and non-SOFI ETFs
• Account includes portfolio rebalancing and goal planning
• Investors get to choose between five portfolios: moderate, moderately conservative, conservative, moderately aggressive, and aggressive
• Additional SoFi membership perks include loan discounts and career counseling
• 4.1/5 Google Play store rating
• 4.8/5 Apple App store rating 

SoFi Invest review

What to look out for: 

• No tax-loss harvesting
• Portfolios, while broadly diversified, are limited to 10 options

Best for Diversified Investing

Betterment Investing

Investment account types: Individual and joint taxable brokerage, traditional IRA, Roth IRA, SEP IRA, inherited IRA, and trust.

What stands out: 

• Premium plans come with unlimited access via phone and email to Betterment CFPs
• Open an FDIC-insured cash account*
• Invest in socially responsible portfolios; cryptocurrency portfolios available
• Get free checking and cash reserve accounts (nice feature for recurring deposits into investments)
• Use goal-setting, advice, and retirement planning tools
• Link various accounts to clear and easy-to-use financial dashboard
• Buy one-off financial advice packages at standard industry rates
• Automatic rebalancing and tax-loss harvesting
• 4.5/5 Google Play store rating
• 4.7/5 Apple App store rating 

*Cash Reserve is only available to clients of Betterment LLC, which is not a bank, and cash transfers to program banks are conducted through the clients’ brokerage accounts at Betterment Securities. Learn more.

What to look out for: 

• Accounts with a $100,000 balance can upgrade to get advisor access, but the annual fee increases from 0.25% (an industry low) to 0.40%

Betterment review

Best for 529 Plans

Wealthfront Investing

Investment account types: Individual and joint taxable brokerage, traditional IRA, Roth IRA, SEP IRA, trust, and 529 college savings plan.

What stands out: 

• Only top online advisor to offer 529 plans
• Invest in cryptocurrency trusts
• Borrow up to 30% of your investment balance at a low interest rate with a portfolio line of credit
• Open an FDIC-insured bank account
• Invest in socially responsible portfolios
• Get personalized recommendations with smart financial planning software 
• 4.5/5 Google Play app rating
• 4.8/5 Apple App store rating

What to look out for: 

• On-staff financial advisors don’t offer personalized advice

Wealthfront review

Best for Financial Planning and Personal Development

Ellevest

Investment account types: Individual taxable brokerage, traditional IRA, Roth IRA, and SEP IRA (all held at Folio Investments).

What stands out: 

• Get an investment strategy built around women’s unique needs and challenges
• Access an extensive library of content and advisor-led workshops
• Invest in socially responsible portfolios
• Get monthly progress reports
• 4.3/5 Google Play app rating
• 4.7/5 Apple App store rating

What to look out for: 

• Financial coaching costs extra (but members get 30%-50% off)
• Upgrade required for access to retirement account management

Ellevest review

Best for Retirement Saving

Ameriprise Financial Investments

Investment account types: Three managed account options that can be opened as an individual brokerage account, traditional IRAs, Roth IRAs, Simple IRAs, SEP IRAs, 401(k)s, 403(b)s, 529 plans, and Coverdell education savings accounts (CESA). 

What stands out:

• Best for experienced investors looking for advanced charting and investing features
• Access to fiduciary financial advisors to consult or manage your account
• Trade through online brokerage, over the phone, or with a registered service representative from Ameriprise’s client service center
• Offers stocks, bonds, mutual funds, ETFs, UITs, structured notes, options, and multiple alternative investments
• One of the largest registered investment advisors (RIAs) in the US
• 4.1/5 Google Play app rating
• 3.2 Apple App store rating

What to look out for: 

• High account minimums (varies by managed account option)
• Hard to navigate website
• Complex fee structure 

Ameriprise Financial Services review

Other Online Financial Advisors We Considered

• Vanguard Digital Advisor: You can think of Vanguard Digital Advisor as Vanguard’s second robo-advisor offering. The difference between Vanguard Digital Advisor and Vanguard Personal Advisor Services comes down to fees and human advisor access. Though you’ll pay less for Vanguard Digital Advisor ($3,000 minimum deposit and a 0.20% annual fee), you won’t be able to utilize personalized support from a professional financial planner.
• Empower Personal Dashboard™: Empower offers competitive robo-advisor services. The investment app also gives you access to human financial advisors, and it offers account features like tax-loss harvesting, single stock diversification, Retirement Planner, and more. The biggest drawback is cost. You’ll need a minimum balance of $100,000 to get started, and you’ll pay between 0.49% and 0.89% in management fees.
• Charles Schwab Intelligent Portfolios: This advisor offers several attractive features, least of which is a $0 advisory fee. But you’ll need at least $5,000 to get started, and you won’t have access to Financial Planners (though you will have access to professionals who can answer customer service and investing/portfolio questions) unless you upgrade to the premium service, which requires a balance of $25,000, a one-time planning fee of $300, and a monthly fee of $30.
• Fidelity Go: Created as Fidelity Investments’ robo-advisor offering, Fidelity Go provides low-cost automated investment management and expense ratio-free funds but doesn’t offer tax-loss harvesting. There’s a tiered pricing structure that charges 0.35% for balances above $50,000. And you won’t be able to consult human advisors unless you upgrade to Fidelity Personalized Planning & Advice, which requires a $25,000 minimum and 0.50% annual fee.
• E-Trade Core Portfolios: E-Trade’s robo-advisor charges a reasonable annual fee of 0.30% on all balances (with a $500 minimum), but doesn’t offer tax-loss harvesting. While E-Trade Core Portfolios’ customer service is strong, investors have no access to human financial advisors. 

Find a Financial Advisor Online

How to Find an In-person Financial Advisor

You can also meet with an expert in person for financial guidance. So if you prefer to meet face-to-face, here are some tools to find some in your area:

Why You Should Trust Us: How We Reviewed The Best Online Financial Advisors

We compared a long list of Registered Investment advisors (RIAs), weighing the following five categories equally:

Fees: What are the costs (i.e., expense ratios, trading fees, advisor fees)? Are they justified when considering the services offered? What is the minimum balance for an investment account? Is it accessible for beginners?

Investment selection: What is included for the cost? Is there a good variety of investments to choose from? What else do you get working with this company (e.g. savings or checking accounts, budgeting tools, financial advice)?

Access: Who can use the service? How easy is it to navigate the platform, and are educational resources and/or human advisors available? Is it limited to a certain geographic location or available nationwide? Can you access your account via mobile app? 

Ethics: Are the experts Certified Financial Planners and/or fiduciaries? Does the company have any disciplinary history over the past three years? What is the company’s investing philosophy? How is its legal standing, and how does the Better Business Bureau rate it (if its BBB profile exists)?

Customer service: Which forms of customer support does each platform offer? Is phone support available? Does it offer 24/7 service? Is live chat available, and can you use any other quick methods of getting in touch?

See our complete methodology for rating financial platforms »

Our experts answer readers’ insurance questions and write unbiased product reviews (here’s how we assess insurance products). In some cases, we receive a commission from our partners; however, our opinions are our own.

• Hurricanes can cause flooding and wind damage to homes, and one inch of water can cost $20,000.
• Your mortgage company may require you to have hurricane and flood insurance, depending on your location.
• Licensed insurance agents can help you select the right coverage to protect your home and family.

According to the National Hurricane Center, on the Atlantic coast, hurricane season runs from June 1 to November 30. It runs on the eastern Pacific coast from May 15 to November 30.

Hurricanes cause flooding and high winds that can damage homes. But even the best homeowners insurance policies usually won’t cover repairs. If you have a mortgage, your lender will require hurricane-specific coverage in certain states. If you pay cash for your home, an insurance professional can help you build a plan that meets your needs. After all, nobody wants to be stuck paying for six-figure home repairs alone.

For hurricane-vulnerable homes, there are two factors: wind damage and flooding. Either could destroy your home or require significant repairs. Unfortunately, if you don’t also have flood insurance, you could be left with a large bill unless FEMA steps in.

“Flooding is one of the most common and costly natural disasters in the US, and given we are in the midst of an above-average hurricane season, consumers need to ensure that they will not be left exposed if their homes are hit hard by a storm,” says Ralph Blust, CEO of the National Flood Services. NFS administers flood insurance for FEMA and the National Flood Insurance Program (NFIP).

What is hurricane insurance?

Hurricane insurance refers to the coverage necessary to cover hurricane damage. A hurricane has to be a declared event dictated by an announcement from the National Hurricane Center.

As a major natural disaster, hurricanes can do a lot of damage in select areas. Hurricane insurance offers protection in these isolated events. The coverages may mirror your homeowners insurance policy. However, keep in mind, if you don’t buy coverage for things like personal property, it would not be covered if the damage was caused by a hurricane insurance peril, even if you have extensive personal property coverage on your regular policy.

Where do homeowners need hurricane protection?

Wind and hail are commonly excluded from coverage with most homeowners policies as part of the hurricane exclusion. However, hurricane winds can be in excess of 200 miles per hour. “Most insurers require an additional high-coverage windstorm rider and separate deductible if you live near coastal areas,” according to Steve Wilson, Director of Technical Underwriting at Hippo Insurance.

Wilson says windstorm coverage is regional, usually along the gulf coast and east coast from Florida to New York. However, island residents like those in Puerto Rico or Hawaii may also be required to buy. Premiums will vary geographically.

States that may require additional windstorm coverage include:

• Alabama
• Connecticut
• Delaware
• District of Columbia
• Florida
• Georgia
• Hawaii
• Louisiana
• Maine
• Maryland
• Massachusetts
• Mississippi
• New Jersey
• New York
• North Carolina
• Pennsylvania
• Rhode Island
• South Carolina
• Texas
• Virginia

How is flood insurance different from home insurance and hurricane insurance?

Homeowners insurance offers protection for homeowners’ belongings and for the home itself. Unlike car insurance, homeowners insurance is not required by state law. However, your mortgage lender will require homeowners insurance to protect its investment. 

Flood, hurricane, and home insurance protect your home after different perils. It’s critical to know the difference to ensure you’re filing with the right company. However, if you work with a licensed insurance agent, they can help you with the paperwork and policy management.

Below, you’ll see when flood insurance would apply and when your homeowners insurance would kick in (with the proper riders).

• Flood insurance is available through the NFIP and approved insurers.
• Flood insurance claims are processed and paid by the NFIP.
• Flood insurance may not be required unless you live in designated flood zones.

How much does hurricane insurance cost?

Homeowners required to buy hurricane coverage may have a few options:

• Add a rider to your homeowners insurance policy with its own deductible.
• Buy a separate hurricane policy to cover hurricane-related events (often through a specialty company).
• If you live in a condo, verify if your master insurance policy has hurricane protection built in.

It may be easier to buy a rider if your homeowners insurer offers it. Then any claims can be filed with one company. However, if you’re working with a licensed insurance agent, you can get quotes from specialty hurricane insurance providers without any more work on your end. If you have a mortgage, your premiums will be paid through your mortgage provider in most cases. Most importantly, your insurance agent can help you file claims as necessary. 

Many times, separate hurricane policies may be cheaper and more effective than homeowners riders. However, we recommend working with an insurance professional to compare quotes.

If you live in a condo, you may still want a small policy to cover your personal property. However, in hurricane prone areas, your HOA will buy hurricane coverage as part of its master insurance policy (which covers any repairs or rebuilding of the building you live in).

Will hurricane policies cover relocation costs?

“Loss of use” coverage, also known as “additional living expenses” or ALE, is included in most homeowners and renters insurance policies and provides reimbursement for temporary housing when a peril causes damage to your property or belongings that makes your home or rental unit inhabitable. It can also be included in hurricane protection. Like your personal property coverage, it is tied to each policy in an all or nothing fashion. In short, if you file a hurricane claim, you’ll only get the benefits of your hurricane policy. Your homeowners insurance coverage will only kick in if the damage was caused by a covered peril.

As such, it may be cheaper to eliminate things like loss of use coverage on the hurricane side. Some homeowners do exactly that assuming a hurricane will never happen in their neighborhood. Unfortunately, this can be a costly mistake.

If you’re unsure of what constitutes “uninhabitable” or “loss of use,” we recommend speaking with your insurance agent.

Tips to prepare your home in the event of a hurricane

Hippo Homeowners Insurance‘s Wilson recommends taking the following steps:

1. Review your homeowners insurance annually with your carrier to ensure proper coverage for your region.
2. Have an evacuation plan on where to meet and what time ahead of a disaster and communicate that with family members.
3. Have a small bag with medication, flashlight, and batteries for three days.
4. Have temporary repair equipment available like a tarp.
5. Contact your insurance agent who manages your hurricane policy (they may also manage homeowners coverage).
6. In between hurricane season, prevent damage by doing home maintenance looking for weak points — under sinks, gutters, shingles, debris around the foundation — and signs of wear and tear.

What to do if you experience hurricane damage

After experiencing a disaster, Wilson recommends staying in touch with your hurricane insurance company to let them know what’s going on at your home and take the following steps when submitting insurance claims:

1. Contact the insurance carrier to file a claim in a timely manner. For homeowners, your carrier may provide a list of contractors and offer advice on do-it-yourself tips to prevent further damage. If you’re a renter, you should also inform your landlord or property management company.
2. Take pictures of the damage before disposal and cleanup.
3. Beware of price-gouging contractors and door-to-door scammers. Ask contractors for their license and insurance credentials to avoid fraud. If you’re a renter, your landlord is responsible for the building and structure.
4. Prevent further damage to your property.
5. Don’t do something you’re not comfortable with/that doesn’t look safe. Homeowners insurance has a condition to prevent further loss. Focus on a temporary fix instead of something long-term so insurance can properly access a permanent fix by a professional.

Our experts answer readers’ banking questions and write unbiased product reviews (here’s how we assess banking products). In some cases, we receive a commission from our partners; however, our opinions are our own. Terms apply to offers listed on this page.

Many of us grew up making the journey to a brick-and-mortar bank to hand a paper check to a teller. But now, with online banking, you can bank without leaving your home. Many online banks even offer perks that in-person banks don’t, like high savings interest rates and no monthly fees.

Best Online Banks

Below, you’ll find our best online banking picks right now. We know “best” means something different for everyone, so we’ve listed each bank’s strengths, as well as its limitations. These online banks have stayed as our top picks for the last few months because they continue to stand out for minimal fees, variety of bank account options, and unique features. You can also refer to our best banks guide if you’d like to learn about brick-and-mortar options as well. 

Compare the Best Online Banks

Best Online Banks FAQs

Best Online Bank Reviews

Ally Bank

Ally doesn’t have minimum opening deposits for any of its accounts, so you can start online banking with any amount.

The Ally Savings Account makes it especially easy for you to save. You can set up separate savings buckets for different goals, such as Emergency Savings or Travel Fund. The Surprise Savings feature assesses your checking account balance three times per week to determine how much you can afford to save, then transfers money into your savings account.

You can contact Ally customer support 24/7, either over the phone or via live online chat.

What to look out for: The Ally Spending Account is a solid account, but it doesn’t come with any special features, such as cash back or a competitive interest rate. If you want a rewards checking account, you may want to go with one of the other banks on this list.

Capital One 360

Capital One ranks as No. 1 on the J.D. Power US National Banking Satisfaction Survey. This study evaluates customers’ experiences with banks and measures factors such as trust, handling problems and complaints, and saving time and money.

Capital One doesn’t require any minimum opening deposits. It also has branches and Capital One cafes sprinkled around the US, so it’s a good option if you like online banking but want the option to speak with a banker face-to-face.

What to look out for: You can use your debit card at over 70,000 ATMs nationwide for free, but unlike many online banks, Capital One doesn’t reimburse any fees charged by out-of-network ATM providers.

Discover Bank

Discover is a good option for people who want to do all their banking, investing, and borrowing with one institution. Discover has a strong cash back checking account that lets you earn 1% back on up to $3,000 of purchases each month, as well as Discover credit cards.

What to look out for: While you don’t need to place an initial deposit for a checking or savings account, you’ll need at least $2,500 to open a money market account or CD. Some of our other options do not require a minimum opening deposit.

Axos Bank

Axos Bank has savings, checking, CD, and money market accounts, so it’s a great option if you want to open all of your accounts with one bank. It’s one of the best banks for avoiding overdraft fees. Its high-yield checking account doesn’t charge overdraft or non-sufficient funds fees, and it offers free overdraft protection that links your checking account to a savings account. You also may be eligible for a bank account cash bonus. Earn up to $300 welcome bonus when you use the promo code SUNNYBONUS to apply for a Rewards Checking account and have qualifying direct deposit(s) by 12/31/23.

Axos pays higher rates on its accounts than most brick-and-mortar banks, especially on its high-yield checking account. However, you can still earn higher rates at other online banks.

SoFi

If you’d like to manage your money in one account, SoFi Checking and Savings is a great online banking option. It’s a hybrid bank account that combines checking and savings features.

You can earn a competitive interest rate that’s higher than what many traditional and high-yield savings accounts pay if you set up direct deposits. It also offers up to $250 cash bonus through December 31, 2023 if you meet certain requirements.

SoFi Checking and Savings is also a strong online banking choice if you don’t want to deal with monthly service fees, overdraft fees, or out-of-network ATM fees. It also comes with a debit card. 

What to look out for: The account is a hybrid savings/checking account, so you’ll need to keep that in mind to get the most out of the account. If you deposit cash, you also might need to pay a fee.

Online Banks That Didn’t Make the Cut and Why

• Chime: Chime has good free checking and savings accounts, but other online banks offer higher interest rates on savings accounts right now. Chime also doesn’t let you open a joint bank account or a savings account by itself. 
• LendingClub: This could be a good online banking fit if you can keep $2,500 in your checking account, because then you’ll qualify for 1% cash back on an unlimited number of purchases.
• American Express: American Express pays a competitive APY on savings account balances. Its checking account is currently only available to Consumer Card Members who have had a card account for at least three months.  
• Barclays: Barclays offers solid interest rates on savings accounts but doesn’t provide a checking account. 
• Bank5 Connect: Bank5 Connect has decent checking and savings account. But it doesn’t have a money market account, and you can find higher interest rates at other online banks.
• CIBC Bank USA: This online bank offers a variety of checking and savings accounts, but most require a minimum opening deposit or charge a fee if your balance falls below a certain amount. The checking account is also only available to residents in Illinois, Michigan, Missouri, or Washington.
• Salem Five Direct: Salem Five Direct pays a competitive interest rate on a savings account, but its CDs have high minimum opening deposits.
• HSBC Bank: HSBC might be appealing if you qualify for a premier bank account. You might like HSBC if you can keep $75,000 in bank/investment accounts, receive $5,000 in direct deposits each month, or take out a mortgage of at least $500,000. 
• Marcus by Goldman Sachs: Even though Marcus by Goldman Sachs is a good online banking option overall, it doesn’t offer a checking account. 
• Quontic Bank: You have plenty of bank account options to choose from with Quontic Bank — but you need to make 15 debit card transactions per month to earn the competitive APY on its high-yield checking account.
• TIAA Bank: TIAA Bank offers respectable rates, but our top picks have more impressive features such as higher interest rates or robust savings tools. 
• Vio Bank: This online bank pays one of the highest savings rates in the industry (which is always subject to change), but it doesn’t offer a checking account.
• CIT Bank: This is a solid online bank, but you’ll need between $100 and $1,000 to open bank accounts, and it doesn’t have an ATM network. 
• Synchrony Bank: This online bank pays a competitive rate with no minimum balance on savings accounts, but you can’t open a checking account. 
• NBKC Bank: NBKC is a good bank overall, but you can find higher interest rates at other banks.
• FNBO Direct: This is a respectable online bank, but its overdraft fees are pretty steep.
• BrioDirect: Although BrioDirect doesn’t have some of the advanced features of our top picks, it is a strong online bank overall. It refunds up to $20 per month in out-of-network ATM fees.
• USAA Bank: This could be a good online bank for military members and families, and new recruits can get paid a day early; however, USAA’s rates are low.
• Charles Schwab: Charles Schwab provides unlimited out-of-network ATM fee reimbursements and doesn’t charge foreign transaction fees, but its rates are low. 

Online Banking Trustworthiness and BBB Ratings

None of our top picks have any recent public scandals.

Here are the Better Business Bureau  scores for all the banks on our list:

The Better Business Bureau measures businesses by examining responses to customer complaints, honesty in advertising, and transparency about business practices.

Ally received an A rating from the BBB rather than an A+ because it has a few unresolved complaints.

Something to keep in mind is that a good BBB rating won’t guarantee that your interactions with the bank will be great. Consider speaking to current customers or reading online customer reviews to see if one of these banks may be suitable for you. 

Capital One has been involved in a recent public controversies. 

In 2020, The Office of the Comptroller of Currency required Capital One to pay $80 million in a settlement that said the bank had inefficient security practices, which comprised personal information of bank credit cardholders.

Why You Should Trust Us: Our Expert Panel for the Best Online Banks

To learn more about what makes a good online banking experience and how to choose the best fit, four experts weighed in:

We’re focusing on what will make an online bank most useful, including customer service, fees, rates, and more. Here’s what they had to say about banking online. (Some text may be lightly edited for clarity.)

How can someone determine whether a bank is the right fit for them?

Tania Brown, certified financial planner at SaverLife:

“Obviously, you want to make sure it’s FDIC insured. Also, your banking experience — do you like walking into a bank? Well, then you need someone local. Do you just not care if you ever see your bank? Then you’re okay online. Do you write checks? Do you not write checks? So it’s thinking through how your experience with it is going to be before you make that decision.”

Sophia Acevedo, certified educator in personal finance, banking reporter, Personal Finance Insider:

“I would create a list of what I prioritize most in a bank account. For example, some banks have accounts that charge monthly service fees. I would look to see what the requirements are for waiving the monthly service fee and whether I think I could feasibly meet those requirements each month. If I’m searching for an interest-earning bank account I’ll pay attention to interest rates. I would make sure the account pays a higher interest rate than the average bank account.”

What should someone look for in an online bank?

Tania Brown, CFP:

“With an online bank, absolutely online customer service, because you do not have the advantage of walking inside and talking to a human being. How often are you able to get them? What are their hours?”

Roger Ma, certified financial planner with lifelaidout® and author of “Work Your Money, Not Your Life”:

“How onerous the transfer process is, transferring money in and transferring money out. Is it same day, next day? Is it pretty easy to sync a brick-and-mortar checking account to this particular high-yield savings account?”

Mykail James, MBA, certified financial education instructor, BoujieBudgets.com:

“When it comes to online banks, you want to be a little bit more strict about what type of interest rates they’re providing. That’s the biggest thing, because online banks are supposed to have the higher interest rate because they don’t have the overhead of the brick-and-mortar. You want to make sure that it’s well above the national average. What type of securities do they provide? Do they have two-factor identification? If it’s an online bank, they should definitely have — at the bare minimum — two-factor authentication in how easy it is to change your passwords and things like that, because you want to be a little more hypersensitive about the cyber security for a strictly online bank.”

Our Methodology: How We Chose the Best Online Banks

Personal Finance Insider’s mission is to help smart people make the best decisions with their money. We understand that “best” is often subjective, so in addition to highlighting the clear benefits of a financial product or account — a high APY, for example — we outline the limitations, too. We spent hours comparing and contrasting the features and fine print of various products so you don’t have to.

While interest rates are an important aspect of any online banking account, several offer the same annual percentage yields (APYs). To differentiate between them, we considered how much you’ll need to open an account, balance requirements, fees, ATM access, mobile apps, and other standout features.

We also took customer service into account, because with an online bank, you don’t have the option of walking into a branch to speak with a representative.

We reviewed over two dozen institutions to identify the strongest options. To learn more about how we rate and review products, visit our editorial standards page.

See our full ratings methodology for checking, business checking, savings, and money market accounts »

• Chipotle is paying more than $300,000 to settle allegations of child labor in Washington, D.C.
• D.C. alleges Chipotle let minors work over 48 hours a week and more than six straight days a week.
• Chipotle denies the allegations, but will adopt policies to comply with child labor laws as part of a settlement.

Chipotle is paying more than $300,000 to Washington, D.C., to settle allegations that it violated the district’s child labor laws by failing to abide by legal limits for the number of hours minors are allowed to work.

D.C. Attorney General Brian L. Schwalb announced Monday that Chipotle will pay $322,400 and implement policies and procedures to ensure compliance with the child labor laws in the district, where the company operates 20 restaurants.

“We applaud young people who take the initiative to work in addition to going to school,” Schwalb said in a press release. “But the law limits the hours they can work to ensure they are healthy, well-rested, and able to fulfill their responsibilities as students and to their families.”

Schwalb’s office began the investigation in May 2022 after seeing reports alleging Chipotle violated child labor laws in other jurisdictions, according to the release. The investigation identified more than 800 potential violations of the district’s child labor laws dating back to April 2020.

The district alleges that Chipotle violated D.C.’s child labor laws by letting minors work past 10 p.m., letting them work more than 8 hours a day, letting them more than 48 hours a week, and letting them work more than 6 consecutive days a week, according to the settlement.

Chipotle denies the allegations.

In a statement, Laurie Schalow, Chipotle’s chief corporate affairs officer, said: “We are committed to ensuring that our restaurants are in full compliance with applicable laws and regulations and we believe that in hiring workers beginning at age 16, we can provide younger employees with valuable experiences and an opportunity for advancement. We have reached a settlement with the Washington, D.C. Office of the Attorney General for the events dating back to 2020, and have implemented an enhanced labor scheduling program in our restaurants, creating a more efficient, consistent and compliant environment.”