Capital One 360 Checking Account Review In the never-ending search for the perfect checking account, there are endless options...
We Are The Number One Resource For Online Banking.
Online Banking has quickly become the most desirable way for many Americans to securely save their money while also avoiding outrageous fees and charges. Our focus is to compile the top offers from the best online banks.
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Here at OnlineBanks.com, we provide you with all the resources you need to save more of your hard earned money. For millions of Americans, online banking has proven to be the ultimate solution: online banks not only come with all the security of a traditional bank but also provide two essentials, convenience and low costs. With an “Online Only Bank,” managing your accounts is as easy as browsing the Internet - check your balance, manage your deposits, and arrange for automatic bill payments all in the blink of an eye. Online only banks have much lower overhead, so they often offer completely free checking and savings accounts. Many reimburse for ATM fees and in some cases there aren't any costs to having an account at all. So you can stop worrying about all those pesky fees.
With online banking becoming a part of so many people’s lives, we believe it’s important that you remain informed with the highest quality and most recent information available. That’s where we come in - at OnlineBanks.com, we highlight all the benefits of using an online bank, review plans offered by the top companies within in the industry, and explain how you can get started with one today. With our dedicated team of authors at the helm, you can feel confident that you’re in good hands; we do our best to ensure that you’re always kept abreast of the latest info on online banks and their top offers. With our help, you can open your first account in minutes and have confidence that you’ve made an educated decision.
With that in mind, feel free to take a look around and see for yourself what information we have to offer. Our authors have written a number of articles that explain the fundamentals of online banking, review today’s best offerings, and keep track of major changes in the industry - and for those who want to stay on the cutting edge, we also encourage our users to subscribe to email alerts. With these resources at your fingertips, there’s no reason you can’t join the millions of Americans who have already made the switch to online banking.OnlineBanks.com - America's Number One Resource For Online Banking
So What Banks Offer Truly Free Checking Accounts?
Good question and in the following article we’ll get into some of the benefits and features that each company offers. We still encourage you to use the links found within our site to research all of the offers and then select which online bank is right for you.
Ally bank is a direct bank which means it is part of the new breed of “online only” direct banks. The bank and their services are accessed by phone, online or by ATM. Bank customers do not go to a brick and mortar location like they are typically used to. Customers use ebanking for depositing checks or transferring money between accounts and bill paying online. There is never an ATM fee at any ATM around the world. These are all features that potential customers indicated they would like to have so Ally Bank has responded by giving them exactly what they want. We like that they seem to be very consumer friendly and very customer service driven.
Additional features of Ally Bank
- Money can easily be moved within accounts.
- No ATM fees.
- Online statements and alerts.
- Online bill paying convenience.
- Very competitive banking rates.
- Customer care 24/7.
- Very low fees.
- No minimum balance to open an account.
- Free online bill paying.
- Special online security.
- Scan and deposit check images to your online account.
- Direct payroll deposits.
- Transfer deposits from another bank.
- Wire transfers of money accepted.
- Deposits of checks accept by mail.
Basically, you are branch-free. Traditional banking features are available such as vehicle financing and mortgages. In those instances, everything is also done over the internet.
American Express Banking
Most people know American Express because of their credit cards, but the company also does banking for savings and checking accounts. When you sign up for a bank account with American Express, you get a host of benefits added to your account. The bank does not charge a monthly fee to open an account, and you never pay any fees for using your account either. As long as you have a positive balance in your account, you are in the clear. Better yet, the company does not require a minimum balance to maintain your account. When you bank with another company, you might find that you get charged a monthly fee if you drop below a certain amount. With American Express, you can keep your account going even if you are not keeping some kind of minimum balance.
American Express offers two big features for those interested in opening an account. The first is that you can keep using any other bank. When you open a bank account with American Express, you can attach an account from another bank to your new one. This lets you transfer money from one account to the other simply and quickly. It is actually one of the main features that many people like the most. Essentially it makes taking that leap from a traditional bank to an online only bank a little bit easier.
The other big benefit is that you no longer need to visit your bank to deposit a check, transfer funds or make a withdrawal. All you need to do is log into your American Express bank account, and you instantly have access to everything you need. You can even link your bank account to your cell phone. When you need to move money around or find out the balance on your account, you can do so quickly by using your cell phone. American Express bank accounts make it easy to manage your bank finances even if you have multiple accounts from several banks.
Everbank's goal is to allow its customers 24/7 access to their bank accounts through an online account manager.
With the EverBank online account manager, customers can view their balances, look at recent transactions and view pending transactions that have not officially cleared yet. EverBank also keeps two years of check images on file and available through their online account manager. This is a feature we really like here at OnlineBanks.com. Additionally, the online account manager allows customers to transfer funds to other EverBank customers instantly, and there is no charge to do so. Customers can even transfer money to bank accounts outside of Everbank; the money arrives within three business days.
In addition to keeping up with account balances and the ability to transfer funds, customers can also take advantage of internet check deposits. To deposit a check through the online account manager, the customer only needs to scan the front and back of an endorsed check and then upload the images to the bank's website. This is a free service and people can see the status of the online deposit within one business day.
Through EverBank's online account manager, customers can also update their contact information, request new checks and find ATM locations. Additionally, if someone has multiple accounts, such as for checking and savings, all of their accounts are tied into one banking login. This simplifies tracking money and transferring back and forth between accounts.
EverBank has created their online account manager so that its customers can manage their money from anywhere at any time.
Online banking has become more secure and more convenient for consumers in handling their daily banking transactions. The First National Bank of Omaha (FNBO) has been a part of the banking industry, for over 150 years and today, is a leader in online banking. A variety of online products are available for individuals and businesses, which are easier to manage and less time consuming. FNBO offers direct deposit accounts with a .65% annual percentage yield on account holders savings.
FNBO also offers some very specific types of accounts, designed specifically to meet individuals unique needs. This is a feature and approach that we really appreciate. For example, if you wanted to save money for a college fund or general education the Nest 529 Plan would be a great option.
The FNBO's Nest 529 Savings Plan, allows account holders to make easy online investment options, for savings for educational purposes. It carries tax advantages, payroll direct deposit and an automatic transfer from your checking or savings account. How easy is it to pay bills online without receiving annoying paper bills with a constant reminder. Arranging an online bill paying account with FNBO, provides consumers paperless transactions and you save gas on visits to the bank. To improve your credit, apply for an FNBO Direct Visa Check Card and an Extra Earnings Visa credit card.
Your Visa Check Card doubles as access to your online savings account and bill paying transactions. Both cards are secured for all online transactions with features that include time out, which will log off after a short period of inactivity. Quality firewall programs are built into the system, SSL encryption, and a user name and password identification system. The FNBO Visa Credit Card program provides discounts and special offers at many popular retail stores throughout the FNBO network. Saving goals are more attainable through the FNBO Direct CD savings accounts which provides customers with guaranteed high yields. The FNBO CD's are available from 6 months to 60 months with a locked in percentage rate and customized terms to help you accomplish your savings goals.
Free Online Banking, Why Is It Becoming So Popular?
Online banking, be it a savings account or checking account is offered by most major banks. Even smaller banks usually offer online banking, sometimes it is just on a smaller scale and with fewer options than a larger bank. One of the major benefits of using an “Online Only Bank” is that they often don’t charge you any kind of monthly fee like a traditional brick and mortar bank would.
One major advantage to online banking is that you can save time and money. When you access your account online, you can look at your checking and savings accounts, manage deposits, and schedule bill payments with only a few mouse clicks. You also can access your account and control your money at any time of the night or day, without going to a physical bank with limited operating hours. Some banks even feature account management apps for your mobile phone.
Online Bill Pay
Most banks allow you to pay your bills online. You can make a one-time payment or set up regular billing payments to be recurring. This is very convenient feature for paying bills like car insurance, auto loans, or your mortgage. You can set up your payments whenever it is convenient and know precisely when your payments go through, often in real time.
Online Banking Security
One concern particular to online banking is the increased need for security. You definitely don't want some hacker stealing your password and looting your bank account. That's why it's important to take some precautions when banking online.
You need a secure password to access your account. It should be a long password with many different characters, as well as numbers. This minimizes the chance that someone could guess your password. Never use your name or commonly known information about you as your password. You are just asking to be hacked this way. Make your password unique and change it periodically.
That being said, security for their clients accounts is the number one priority for any bank. Be it online or off so many of the concerns that were once valid in the past can be put to rest as all of the banks featured within this site as well as within the industry exceed all of the security regulations that need to be in place. It is more likely that someone will be more likely to get your account information than hacking into a major banks network.
This is where things get really interesting, when it comes down to saving you money. Let’s face facts, it is much easier for an online only bank to offer totally free checking and or savings accounts than it is for a traditional brick and mortar bank. Online only banks don’t have all of the expenses in their overhead. Aside from the dozens of employees needed to run just one bank branch, the physical cost of the location (rent), insurance and all of the regulatory expenses that’s just the starting point really. It is estimated that for someone to open a safe and secure bank in a good location and have enough funds to cover any potential losses the minimum amount needed for operations is just over $10 million dollars.
So while we do think that some banks charge a little too much for some of their services, in all fairness we understand why they can’t all compete with the online banks in terms of real savings.
The drawbacks that most individuals fear they’ll face when it comes time to actually use an online bank are the following:
How do I deposit funds?
How do I get money (cash) from my account?
A couple years back, it was honestly kind of a pain to use an online only bank. Thankfully things have changed and many of the online banks featured within our site have features where you can use any number of ATM’s and get cash out and not get charged any ATM fees. Seriously, how many traditional banks offer that? Last time we checked….none.
Some have also teamed up with traditional brick and mortar banks and allow you to deposit funds (cash) into your account through them. Ironic that a brick and mortar bank would actually help an online bank which is most likely taking business away from them. Hey who are we to judge, we say just enjoy the perks! Another great feature is that some online banks even allow you to snap a picture of a check and digitally deposit it into your account. That kind reader is where things have really turned a corner.
In summary we think that online banking is awesome and the future of banking. Thankfully it’s here and we don’t have to wait around any longer to really enjoy the convenience and savings. We encourage you to explore our site and the different offers from the banks within the site. We assure you that it is going to be time well spent.