We all work hard for our money. We all also would like to see our money work for us. This leads to a few important questions: What is the best online bank account? Where can I do the best online banking?
When I first started a free online bank account I decided to look for the best online bank to get the most value for my money. After lots of research I’ve come up with this information on what the best online bank should be all about.
The Best Online Bank Accounts:
The following are some of the most popular high yield savings account choices that we have at online banks. If you want the best return on your money, while it remains safe, then consider the following options:
ING Direct
ING Direct is the best online bank in my opinion. I love how easy to is to create new accounts, transfer my money, and access my money. ING is probably the most useful for new investors (in my opinion of course). There is no minimum account balance and no account fees. How can you go wrong? You get $25 for free for just signing up. You get a debit card so that you can access your money at any time without having to deal random fees.
Ally Bank
The Ally Bank Online Savings Account is designed to treat their customers well. Ally Bank is a fairly new online bank account with no minimum balance, no monthly fees, and daily compounding. The company has gone above and beyond to promote their services and how they can help you.
Everbank
EverBank has one of the highest interest rates around . After this, you will earn an APY of 1.51% in your first year. This is for the more serious investors because an initial deposit of $1,500 is required. The plus side is that you won’t have to pay any fees. You can also deposit your checks with a scanner (a new technology).
These are the top online bank accounts from the research that I’ve been doing for the past few years. Now it’s time to look into what it takes to become the best online bank:
1. Safe & reliable.
All of the best online bank accounts mentioned above are FDIC insured. I must admit that I’ve dabbled in other investments, but high yield online savings accounts have provided me with the safest returns. If you don’t want to be taking too many chances after the economic downturn of late-2008 then you should hold your money where it’s safe.
2. High interest rates.
The best online bank account has to offer a high interest savings account. I know that rates have dropped in the past few years. There’s nothing we can do about this. Well, that’s unless we want to take on some risk and invest in real estate or the stock market. The interest rates offered with online bank accounts surely defeat a standard checking account or keeping the money under your pillow.
3. Customer service.
Customer service? You know the process of answering the phone right away and answering all of my questions with respect and courtesy. That’s all I ask for from my customer service. Unfortunately, I don’t have much else to add to the customer service bit because I’ve been fortunate enough to not have to deal with any customer service reps. when it comes to online bank accounts.
One more thing that I need to stress is that an online banking account must be easy-to-use. Most of us are not software developers and we want to access our money without being confused about anything.
That’s the list of the best online banking accounts and how you can find the best online bank. I would love to hear if I missed out on one of the best online banks in your opinion.
