Comments on: What’s Your Favorite Online Bank?

By: Lee

Lee — Sat, 17 Oct 2009 06:19:36 +0000

ING Direct. Checking and Savings. Bill pay is superb. And customer service is excellent.

By: Shauna

Shauna — Fri, 24 Jul 2009 23:48:12 +0000

I love love love ING!! Its nice to know so many others do too! They are currently in the process of making some changes. They now have it to where you can set up your bill pay with more options instead of having only monthly options, you can be more specific to where you can do bi-weekly, annually, weekly, monthly, etc. I was actually surprised they didn’t have that at first.

Cust. Ser is great!

The best part is no fees and the website is so nice. I like how all my transactions are immediately posted as well. I tried switching but went right back as i felt spoiled with their interface. =)

My ONLY complaint is that you can’t make 3rd party checks. If they don’t offer them, I think they should at least allow 3rd party checks. I’d also like to use a deposit@home feature in the future. Since they are fairly new, I’m looking forward to seeing other changes in the coming years.

By: David

David — Fri, 10 Oct 2008 15:38:09 +0000

My favorite online bank is Discover Bank (http://www.discoverbank.com). I have a CD account with them. I got really great rates.

By: Kimberley

Kimberley — Wed, 30 Jul 2008 16:57:53 +0000

I like First Internet Bank of Indiana!!!

I LOVE USAA — but I don’t use them for Internet Banking, just EVERYTHING else — one of my two mortgages, life insurance, house insurance, car insurance, one IRA, and a home equity loan. Their service — as others have said — is absolutely outstanding.

By: nickel

nickel — Tue, 22 Jul 2008 18:48:54 +0000

Craig: The reason more people don’t talk about it nowadays is that their rates have really fallen. Who wants 2.75% when you can get 3.5%? Online bankers are a relatively fickle crowd, and many will move their money to whoever is offering the highest rate.

By: Craig

Craig — Tue, 22 Jul 2008 18:33:41 +0000

Emigrant Direct – First heard about it watching Suzie Orman. Suprised more people haven’t commented on it, but it’s easy to use and the interest rates were higher than ING before the decline in all interest rates. Also, next day transfers between Emigrant and my Bank of America.

By: David

David — Mon, 07 Jul 2008 22:05:08 +0000

I use Schwab for checking as well. I agree with the others, it’s a simple (minimal fine print with lots of perks) account with a reasonable interest rate.

By: John

John — Sun, 15 Jun 2008 10:32:32 +0000

USAA if you can get membership. They have the best customer sevice and with free ATM’s, I don’t have to find my bank to avoid fees. Deposit at home with a scanner is very nice and Bill Pay is good too.

By: Thad

Thad — Wed, 02 Apr 2008 16:03:02 +0000

For checking, I like Presidential Bank – the website is dated, but the checking account gets 2.10% APY, and the online bill-pay program is great. (www.presidential.com)

I like ING’s website, and sub-accounts.

I HATED my experience at HSBC – took me probably 5 months and numerous phone calls to finally close the accounts (and get all the fees they tried to charge me waived).

Most of my emergency funds though go straight to Vanguard’s Prime Money Market fund.

By: roger

roger — Wed, 26 Mar 2008 16:48:29 +0000

USAA- I am a customer for 47 years and never had a problem with any of their services be it banking, investing and insurance. Deposit@home a plus but customer service is outstanding

By: Kira

Kira — Fri, 14 Mar 2008 21:10:12 +0000

USAA hands down. Love the deposit @ Home. Love the bill pay. Mobile access, insurance, car loan, checking, savings, credit reporting, credit card – you name it! Oh yeah – and free checks for life – and rebating ATM fees all over the world.
I have been able to add creditors to their bill pay system that weren’t listed @ Citi. Citi mailed them a check. My USAA gets it to them in a day or two – all while keeping my money in my account and earning interest on it.

Wish they had better mutual funds though…. I still stick w/ Vanguard for those.

By: Mike

Mike — Fri, 07 Mar 2008 07:59:47 +0000

I use ING for checking but hate the interface ledger. Positive and Negative pending transactions are grouped together. Another way to confuse clients and charge for NSF.

US Bank has a great checking interface ledger but no interest.

ING savings had the best rate 2 years ago.

Switched to Emigrant and locked in great CD rates but savings dropped.

Jumped again to eTrade and now has one of the highest rates @ 3.45% vs fees.

Buckle in and Hang on… more turbulence ahead. Fed expected to drop rates 0.5% again in 2 weeks. Do not listen to the wealthy talking heads on Fox, CNBC, CNN, etc. They only want to deceive you while they move their money against their own advice to the public.

By: wrongwayups

wrongwayups — Wed, 05 Mar 2008 18:00:31 +0000

I use hsbc because they had been paying 6% but now that’s 3.52%. I am now opening a ME account at Southern Community Bank they still pay 6% as of 3/5/2008. You can only go up to $25000.00 and you must use there debit card 10 or more times in a month,nation wide ATM fee reimbursement,e-statements only .
Check out there max earning account or ME http://smallenoughtocare.com/p.....cking.aspx

By: Melissa

Melissa — Sat, 09 Feb 2008 01:56:00 +0000

ING Direct. I have banked with them for 8 years- easy to transfer money, great rate, and they just bought ShareBuilder. We’re also in the process of refi-ing our mortgage with them.

By: Matt

Matt — Thu, 17 Jan 2008 14:59:01 +0000

Schwab Investor Checking is the best. No fees, free checks, no foreign transaction fees (!), good customer service, and of course – UNLIMITED ATM REBATES.

While it seems from the literature that you have to get a brokerage account at the same time, this is not true. To get just the checking account, you need to call the number on this site (http://www.schwabbank.com/) and apply for an “Interest Checking Plus.” That is the name of the best account with the high interest rate.

By: Siena

Siena — Mon, 14 Jan 2008 19:56:40 +0000

While I am not crazy about Wamu, I think it is the best because it’s one bank and you have everything there.

You want a brick and mortar bank? You got it. You want an online savings of 4.75%? You got it. You want to go into a bank and take out money from a online savings account immediately without any hassles? You can do it. Your online savings is just like a regular bank account–and that is something a lot of online banks can’t offer.

By: Finance Monk

Finance Monk — Mon, 14 Jan 2008 14:09:03 +0000

I just recently signed on to Charles Schwab’s High-Interest Checking and I’m really surprised and very happy with them.

It’s definitely the most flexible account I’ve ever had (no minimum balance, no fees of any kind, 4% APR, ATM fee reimbursement anywhere and an awesome web interface), and on top of that they do have excellent customer service when I’ve called (and they’ve called me.)

I was originally planning on keeping my real-world bank account as well, but they downright pale in comparison to Schwab in almost every way so I’m switching over exclusively.

Gah I sound like a commercial. Still, I’m quite happy with them, and I’m frankly a little surprised they’re not spoken about as much in the blogworld as some of the others (ING, HSBC, and E-trade).

By: James

James — Mon, 14 Jan 2008 06:15:42 +0000

USAA… For all of the reasons above, especially the deposit@home and also you CAN’T beat their insurance rates too!

They are also regularly rated in the top 3 for customer sevice.

I was able to sneek into membership because my wife’s ex-husband is military. When she divorced she kept her accounts and when we married I was astonished at how much money I saved on my car insurance (over half!). From there we’ve discovered their online banking and deposit@home and have never looked back. We always pay our insurance every month because we’ll never be able to get back in if we’re cancelled.

By: SuperSaver

SuperSaver — Sun, 13 Jan 2008 17:20:50 +0000

I’ve been with EmigrantDirect for over 3 years now. Their savings rate always seems to be higher than the other online banks. You can access your CD’s and savings account on the same menu page so its easy to transfer and you get 1.4% cash back if you use their credit card on any purchase which is transfered right into your savings acount. Their security system seems pretty reliable too.

By: Brian

Brian — Sun, 13 Jan 2008 03:01:09 +0000

Emigrant Direct has been great so far

By: candlejack

candlejack — Sun, 13 Jan 2008 00:54:21 +0000

E*Trade

By: MITBeta

MITBeta — Sat, 12 Jan 2008 02:13:09 +0000

I use Everbank which has a rate pledge and is pretty easy to use. I can view all of my other banking and brokerage accounts through the website. I get detailed reports on online payment activity, paper deposit slips, ATM fee refunds, etc.

This is the bank that Netbank was in negotiations with before ING came into the picture. I like it!

By: John

John — Fri, 11 Jan 2008 03:52:18 +0000

FNBO – had 6% interest for part of 2007. Now at 5.05%. I also had ING then HSBC, but switched due to their lowered rates.

Why is everyone is raving about customer service for a checking/savings account? I wanted an online bank so I can log on, check my balance, and that’s it. If I was worried about customer service, I would put my money into the bank down the street.

By: Tater_Salad

Tater_Salad — Fri, 11 Jan 2008 03:06:24 +0000

Gmac Demand Notes…Easy transfer, real paper checks, monthly statement mailed to you and best of all 5.75% interest as of this date 1-10-08

By: amy

amy — Thu, 10 Jan 2008 19:37:26 +0000

USAA. I was lucky to marry a man who had an account (it’s military and their family only) and it is awesome. you can deposit checks AT HOME if you have a scanner (ingenious) and if you don’t, they’ll send you free deposit envelopes. you can go to any atm and they’ll give you back up to $15 in atm fees. they give you cash back for using your mc debit card, the online bill paying is awesome, and the customer service CANNOT be beat. We always get a dividend check back at the end of the year on our car insurance. Our credit card NEVER has a minimum payment, and thus there is NEVER late fees (maybe this is just us?)

We switched over to BoA for a while because I was doing some freelance and wanted to make deposits faster (this was before deposit@home) and we ended up switching back after 3 months. Love us some USAA!

By: SuperGlide

SuperGlide — Thu, 10 Jan 2008 02:50:17 +0000

ING Direct is by far the easiest and simplest to set up and use. HSBC Direct is a pain in the butt to register – they make you jump through all kinds of hoops.

By: moonimus

moonimus — Wed, 09 Jan 2008 21:59:53 +0000

My banking is probably unnecessarily complex but I have used ING Direct and they are great but the rates are too low for me. If the Fed cuts the rate again as expected then I’m sure ING will change their rates the day after the announcement. I just started using State Bank of Toledo so I can’t say anything yet but I’m already frustrated by lack of ACH access online.

I use One United for savings and they offer a lot of flexibility.

By: Centsible Shopper

Centsible Shopper — Wed, 09 Jan 2008 18:06:32 +0000

ING Direct. I’ve used them for maybe eight years, and I’ll admit user loyalty, but I love the simplicity of their website, their decent savings rates, and their no-minimum, interest-earning checking account.

By: Mike

Mike — Wed, 09 Jan 2008 17:36:20 +0000

The service and website at ING are very good. I also have an account at HSBC. They had good rates until recently; their customer support is very poor, though. Usually you wind up talking to someone in India who can’t help you–they need to transfer you to another branch, which seems to keep 9-5 hours.

By: Shaun

Shaun — Wed, 09 Jan 2008 16:39:58 +0000

ING Direct is great, but 4.1% interest come on?
HSBC website sucks, 1 week to do an ACH, forgettaboutit

I use http://www.SalemFiveDirect.com for my banking
I like http://www.emigrantdirect.com for online savings? Why site is fugly, but it is super fast and 1 day ach, can’t be beat!

By: Hunter

Hunter — Wed, 09 Jan 2008 16:02:39 +0000

I use a combination of Bank of America’s all-in-one My Portfolio to keep an eye on everything and E*Trade for my high-yield savings. Their quick transfers are second to none! I still have accounts with HSBC and FNBO with a few bucks in them in case they raise their rates to be more attractive, but the transfer speeds with E*Trade have me hooked.

By: bargainbtch

bargainbtch — Wed, 09 Jan 2008 01:26:32 +0000

I love Emigrant Direct. I am surprised not to see it listed more. The rates are better and the interface, while nothing fancy is very simple to use. I have used their phone customer service a few times once for a general question when opening my account and maybe 2-3 times for locking myself out. I have to say I have been really happy. I am pretty sure I was calling out the the US, but the reps spoke good English and where very helpful and friendly. Better service that my B&M banks!

By: jim b

jim b — Wed, 09 Jan 2008 00:56:48 +0000

Bank of America because they have the best mobile banking service at http://www.bofa.mobi

By: Kim

Kim — Wed, 09 Jan 2008 00:04:22 +0000

I have most of my money in AmTrustDirect because of their higher interest rate but I left Ing Direct open (with a couple CDs sitting there) because I prefer their interface, too. I have a little money in HSBC but I’m thinking of closing it. Poor interest and I don’t like their interface.

By: Jeremy

Jeremy — Tue, 08 Jan 2008 23:37:39 +0000

AMTrust Direct and Third Federal Savings. AMTrust is an easy as ING with better interest, and Third Federal Savings similarly has good rates and is in the anti-Countrywide in terms of being a good corporate citizen with its home loans.

By: Edward

Edward — Tue, 08 Jan 2008 21:01:18 +0000

Like many of the folks who have posted above, I was a previous NetBank customer, I decided to try both ING and Charles Schwab Bank ….. Guys Charles Schwab won, incredible customer service….. they offer paper checks (ING was considering it because of all the NetBank customer accounts) and the additional services through the associated brokerage account is impressive.

By: djmike805

djmike805 — Tue, 08 Jan 2008 20:10:29 +0000

Emigrant Direct

Better rate than ING…interface is just as easy…period

By: ChristianPF

ChristianPF — Tue, 08 Jan 2008 18:25:12 +0000

ING Direct – the user interface, and the customer service (that I have recvd at least) is outstanding – obviously the rates aren’t the best, but I think they are the best overall value

By: Daz

Daz — Tue, 08 Jan 2008 18:21:39 +0000

Apple bank and Amtrust Direct. Very attractive interest rates- watching the miracle of compound interest.

By: Rick

Rick — Tue, 08 Jan 2008 17:18:54 +0000

My favorite is whichever bank has the highest interest rate. Currently I’m using FNBO, though I realize I could eke out a slightly higher rate elsewhere, it’s not worth the hassle of moving money in this era of falling rates.

By: Rebecca

Rebecca — Tue, 08 Jan 2008 16:50:28 +0000

My favorite used to be HSBC until they kept dropping their rates. I’ve moved all of my money over to WT Direct and am very happy so far. In addition to a 4.90% interest rate (instead of 4.25% at HSBC), their website doesn’t have any of the irritating problems that HSBC’s website does. Also, hopefully they answer their customers’ e-mails. HSBC does not, in my experience.

By: BillyOceansEleven

BillyOceansEleven — Tue, 08 Jan 2008 14:39:33 +0000

For ease of use – ING, hands down. But ease of use doesn’t translate into higher interest, so my money is with FNBO Direct for savings and Presidential Bank for checking.

By: Todd

Todd — Tue, 08 Jan 2008 13:18:53 +0000

Bank of America for checking(free checks is you have a loan) and one of the better bill pay features. For savings its wamu.

By: Penny

Penny — Tue, 08 Jan 2008 01:56:18 +0000

Emigrant. I moved most of my money out of ING when their rates dropped.

By: MMoyer2655

MMoyer2655 — Tue, 08 Jan 2008 01:32:08 +0000

While I don’t like their website interface I have had no issues with The Apple Bank, through grandyeilddirect.com

They had good run at 5.27% then 5.14% and now I am sitting pretty at 4.81%.

Their customer service is great. All I did was send an email requesting sub-accounts and a few days later they showed up.

By: Meg

Meg — Mon, 07 Jan 2008 23:18:37 +0000

What about online checking accts? I hear Charles Schwab Investor Checking is great (4% interest, free checks and Visa Checkcard, et al). I was thinking of opening an acct soon. Anybody had any experience with them, or any other online checking acct?

By: tba02

tba02 — Mon, 07 Jan 2008 23:17:43 +0000

1) ING Direct Electric Orange for day to day banking, bill pay etc.
2) WAMU for bulk of savings and brick and mortar access and the occasional check.

I also have a FNBO account but the B and M convenience of WAMU is worth the slightly lower rate (and I don’t feel like bouncing back and forth chasing rates).

By: Debbie M

Debbie M — Mon, 07 Jan 2008 22:42:18 +0000

I don’t have a favorite.

I have an ING account right now. I don’t like having a lot of different accounts, but I added this one because I could earn even more money than in my credit union’s CDs, but of course it’s a lot more flexible. I never had any problems except that should electronic transfer be same-day or next day?

Apparently other online accounts are no quicker, and some are even slower.

I didn’t mind having a slightly lower rate than other accounts for a while once all the new accounts opened up, but the difference is getting bigger and it seems like it’s going to last forever, so I’m looking for a new home for my cash. It bothers me that even though their customers are people who jumped ship for a higher interest rate, they are feeling cocky that their customers won’t do it again because of their great interface and customer service.

I don’t need sub-accounts or customer service or anything fancy. I just want a place to move money that I don’t need right now into where I can earn high returns.

By: Heidi

Heidi — Mon, 07 Jan 2008 22:32:13 +0000

ING Direct. Their site is easy to navigate, opening a new account is a breeze, and they pay a very competitive rate. I work at a competing bank, but I bank at ING Direct.

For CDs I’ll rate shop at BankRate.com

By: Two Nickels

Two Nickels — Mon, 07 Jan 2008 21:09:08 +0000

USAA – For the reasons listed above, but mostly for the customer service and the ease in which ANY transaction is done, even when I have to call them.