Internet banking reviews help people choose the right internet banking website by offering comprehensive discussions on teaser rates, fees, phishing scams, rates, and FDIC insurance.

What to Look For in Internet Banking

Reviews can help you choose the bank with the best internet banking. There are many sources out there, from Kiplinger to the Bank Deals blog. Here are some potential problems that a good review should help you avoid:

Teaser rates – Online banks will offer higher savings rates for a short time to lure the consumer in, but you should be aware that these rates could drop more than a percentage point after the initial period.

Fees – Some banks charge extra fees for ATM use or low balances, so read the fine print.

Phishing scams – Phishing scams redirect you to another website where you are asked for specific information regarding your bank account. Once you do this, you are at risk to having your assets stolen.

Rates – Online rates can be different from those at the parent bank. You will want to check because the rates on e-savings accounts can be higher at your bank.

FDIC insured – FDIC insurance is important because it protects your money. Be certain that any bank you choose online has the FDIC seal.