Online Banks: Great Rates, You Win!
Consumers who are looking for decent returns on their monies
need look no further than the internet for the best rates.
Online or internet banks are growing in popularity as consumers
discover that they are great sources for offering optimum rates,
customer choice, as well as unmatched convenience. Let's examine
some of the benefits of banking online.
Great rates. Sure, in this day of low interest rates, 4%
may not sound like a good return on your money, but if you are
currently earning .9% through your local bank's checking
account, you can open a money market account paying a much
higher rate today. Some online banks have higher minimums than
others, while other internet banks simply allow you to open up
an account for a few dollars and for a period as short as one
year. Even better are those internet banks allowing consumers to
open up daily savings accounts. Many of these online
institutions are currently paying 3.4% or better and you can
make withdrawals from your account at any time without penalties
kicking in.
Ease of use. All internet banks allow for customers to do
their banking from their personal computers. Most have highly
secured sites that require users to take several steps before
accessing their information. This is particularly helpful if you
are concerned about identity theft. The better online banks will
allow for you to hook up your account to your local bank for
easy transfer of funds when you need them. These institutions
offer a variety of savings plans and some provide low cost loans
and mortgages for their customers.
Abundant choices. Many more institutions are now offering
their services online. Some are exclusively online banks, while
others have "brick and mortar" versions of their bank available
to consumers too. ING Direct, EmigrantDirect, MetLifeBank, and
ETrade Bank are some of the most recognized providers of remote
banking services.
Shop around for the bank that is right for you. You can see your
money grow faster and have access to your account at all hours
of the day with an online bank. Internet banking is here to
stay; so what are you waiting for?