5 reasons why online banking is worth your time

Thanks to mobile check deposits, peer-to-peer payment systems and online  bill pay, the need for in-person banking is diminishing.

Your deposit accounts are just as protected as they would be with a brick-and-mortar bank.

Online banks are insured

Medium Brush Stroke

Get stronger APYs

Combine that rate with daily or monthly compound interest, and you could catapult your earnings without having to lift a finger.

Fewer fees

It’s common for traditional banks with branches to require an opening  deposit between $25 to $100 for a checking or savings account.

Medium Brush Stroke

Without branches, online banks have to allow their customers to do most banking services remotely — and often 24/7.



Finding a financial advisor doesn’t have to be hard. SmartAsset’s free quiz matches you with fiduciary financial advisors in your area or who serve your area. If you are ready to be matched with financial advisors that can help you achieve your financial goals, take the quiz now.