the Price of Online Banking

I opened an online savings and checking account last year that has no minimum opening limit, no minimum limit to maintain the accounts and no account fees. The best part is that the savings account (as of this post) is paying 3% interest and the checking account is paying (as of this post) 1.25% interest. The checking account comes with free on line bill pay as well as a debit card that can be used at quite a lot of atms with no charge. There is also an overdraft account on the checking account that has better terms than most credit cards (there is no fee to use the overdraft account but they will charge you interest on the amount you have outstanding). The accounts can both be set up with direct deposit or to accept transfers from other bank accounts, though these do seem to take two or three days.

The service I have received has been excellent, there has been only one issue with the account. My weekly direct deposit did not show in the account when it was suppose to. I contacted the help line and was connected to a real person after entering my account number, the apologized and explained that the error was in their system and that any problems that should result due to the error would be taken care of by them.

On line banks, having little to no physical locations and very minimal staff should charge no fees whatsoever, you should also make sure that the pay as least as much interest as free standing banks, if not more.