The Top 10 Online Banks
April 25, 2006 roz
Online banking can offer convenience—and even added security. Our list of the best includes Internet-only outfits as well as brick-and-mortar banks. Here’s how to compare.
Five years ago, Greg Downing looked into online banking but balked at his bank’s $5 monthly fee to pay bills online. This year, Downing read about a Web-only bank that charged a much lower price: free.
“I gave NetBank a chance, and I’ve never looked back,” says Downing, 33, a project manager for Acambis, which makes smallpox vaccine. Does he miss his old brick-and-mortar bank? “Only when I have a jar of coins to deposit,” he says.As Downing discovered after he opened his NetBank account, paying bills with a mouse click is only one labor-saving feature offered by online banks.
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December 31st, 2007 at 07:42 AM One name missing from the list is ING Direct. If they make this an annual list, watch for ING Direct to be at the top if they indeed launch their Electric Orange checking account. It's reported to come in at 3.00% APY with no fees, debit access, and a host of other perks. ING's current online banking interface is simple, clean and intuitive, too, which I'd argue should matter a lot in a study on the best online banks. Maybe ING lost out because of the "making deposits" issue the that the author brought up.