Hmmm, there are quite a few things like this catching my eye lately. Perhaps the time is coming for a "money and financial planning" category?
MSN Money – The top 10 online banks
Via Top 10 Online Banks – Lifehacker.
Online-only banks are a contender, and merit a look from anyone looking at better banking options and interest rates. For primary checking, though, I don’t think it makes much sense. I use a national bank for its size and ATM availability, but an Internet bank for my savings account, since if I need to move or access those funds, I can just move the money into my checking account.
Some factors to consider:
- Don’t pay a fee for online bill pay. It just sounds stupid anyway — you’re going to be charged to pay your bill? Um, no.
- Check interest rates for savings accounts, CDs, etc.
- Think about your comfort factor: do you need the physical presence of the bank, to feel your banking is secure?
Personally, I like the ease of fee-free ATM withdrawals, so I use a national bank. But I never need to go inside; I can handle everything online or over the phone. And my savings account gets a better interest rate via the online bank. Find the mix that works for you.
