This guide contains:

Background on online banking
Features to look for in online banks
How to find the best online banking for you

This independent guide was created to help you understand the basics of online banking and to help you choose the right online banking for you. We do not provide any online banking services ourselves, so you can be confident that all of the information in this guide is independent and unbiased.

Background on online bankings
Online banking is becoming more and more popular with consumers and with banking institutions. Consumers are discovering that the convenience of being able to view account information online, make transfers to other accounts, and to pay bills online is much more preferable than the more traditional methods of banking. Banks and other financial institutions are finding that they can reduce costs by providing services online, and that online banking features improve customer satisfaction, boost retention, and improve overall profits.

Almost all major banking institutions and more and more regional and local banks already have some form of online banking to augment their traditional 'brick and mortar' banking system. Some banks are products of the online age and are strictly online banks with no physical branches. Each bank or financial institution has it's own specific mix of online and in-branch products and services, and this site was designed to help you choose the right bank for you.

What are some of the important features of online banking?
Generally, the same features that are important with traditional banks are the same features that are important with online banks. Here are a few of the most important considerations when evaluating a particular bank:

Access to funds
Having access to your accounts when banking with a traditional bank is pretty straightforward- you can walk into a branch at any time and simply withdraw your funds. For a 100% online bank, you will need a way to get your money without going to a branch. 100% online banks will generally give you the ability to transfer funds to other banks, will allow you a higher ATM withdrawal limit, or will overnight funds to you at your request.

FDIC Insurance
Almost all banks provide FDIC insurance on your checking and saving accounts. This is federal insurance that protects the depositor in the event that the bank becomes insolvent. But, you should be aware that some investment services provided by banks