Online Banking is a great and convenient way to handle your finances these days. With virtually all the functions of checking, savings, and credit accounts available online with minimal difficulty, there is really no reason to actually go to a Bank anymore. Today, I do all my banking online, and only find myself going to Banks for coins or currencies exchange. It is clear to me that Online Banking is only going to get more and more popular. 

With a cell phone and a decent Internet connection there isn’t much reason to leave your house at all for anything, least of all a trip to some stuffy Bank only to wait in line for half an hour. You can even pay all your bills by way of Online Banking now, so you will save money on postage.

Just about every major chain of Banks now allows you at least some basic Online Banking functions. Every Bank today of course has their own website, and just by registering on their site, you can access at least some of the basic function of any accounts you have with them.

If your Bank does not have a website, well, then you should probably find a new Bank, because that is somewhat scary. Since many of the larger Banks around charge all kinds of hidden and annoying fees just for using a live Teller, Online Banking is a great way to cut costs as well. 

There are also a number of Banks today that operate solely by way of Online Banking. I was a little skeptical at first when my friend first recommended me to try one of these “virtual Banks.” Indeed, the name of the Bank I went with is in fact “Virtual Bank.”

I am sure they had their reasons for choosing the name, but it really does not inspire a lot of confidence. Am I going to deposit some real money only to get a virtual return? I don’t think my landlord would understand if I sent him some virtual dollars to pay rent, and I’m certain my stomach wouldn’t be fooled by a digital cheeseburger. 

Well it turns out these Banks have capitalized on the Online Banking concept, and are actually a pretty good deal. Since they have eliminated overhead costs of Teller, they are able to offer some of the highest interest rates available on your deposits. So long as you look into them beforehand and make sure they are FDIC insured, these online Banks are a good alternative for savings accounts.