Since 1996, in the middle of the dotcom boom, internet-only online banks have been a part of the financial landscape in the U.S. Over the past 25+ years, the technologies and products that have driven online banking – and the expectations of the people who use them – have transformed dramatically.
As you look for the right fit for you to meet your online banking needs, keep these five signs in mind that you’ve found the best online bank for you.
- Their Customer Service is On Point
- Sometimes you really just want to talk to a human being. Even without a physical branch to visit, finding the best online bank means finding one that responds. We live in an age where within minutes you can order a coffee, then summon a vehicle to pick you up and take you to it, all from the phone in your pocket. When you have a question about your money, you don’t want to have to jump through hoops to get it answered. Make sure you choose an online bank that makes itself available to you.
- You Can Find an ATM Where You Need It
- We’ve all been there. You’re out and about on a Friday night when you get a text inviting you to the hot new taco spot. Only problem: it’s cash only. The last thing you want to do with your evening is running around town trying to find an ATM that won’t charge you a pointless fee. The best online banks hook you up with a convenient network of free ATMs in all the right places.
- Their Products Save You Money
- Most traditional banks have more financial products than you can shake a stick at. And you can be sure that each of them will scoop just a little bit of your hard-earned cash into their pockets instead of yours. $10.00 a month to pay your bills. $2.99 for taking your money out at the wrong ATM. $6.99 just to keep your account open! The best online banks believe that not only should your bank help you keep your money – it should help you grow it, using features that help you save and even chip in to help you reach your goals.
- You Can Trust that Your Money is Safe and Secure
- Another day, another news story about a massive scam scoring millions of people’s sensitive information. The best way to fight fear is knowledge. That’s why the best online banks provide you real-time alerts for every transaction you make. It’s your money – you deserve to know where it’s going and when. And FDIC insurance up to $250,000 goes a long way to creating peace of mind knowing that the money you put into your account will always be accounted for.