What Do Online Banks Have to Offer?

Online banks have been growing in popularity in recent years. Many people are forgoing the traditional brick-and-mortar banks in order to take advantage of some of the benefits that online banks have to offer. Here are a few things to consider about online banks and what features you can receive by working with them.

Instant Account Access

One common feature that you will find with all online banks is that you can access your account instantly. You will be able to get online any computer and login to your bank account. This will allow you to see a much money you have, what payments you have received, and what checks have cleared. Many online banks also make it possible for you to access your account from any PDA or cell phone. This provides you with a level of convenience that can be very beneficial to you.

Safety

Another benefit that you can get by working with an online bank is safety. Many people believe that it is not safe to do all of your business online with this type of bank. However, many people would also argue that this is actually safer than the traditional alternative. With a regular bank, you are going to receive paper statements and copies of cancelled checks. This is one of the easiest ways for identity thieves to get your information. They can simply look in your trash and find a copy of your bank statement. However, with online banks, everything can be conducted online. You are not going to have to worry about shredding your documents or anyone finding your cancelled checks. Because of this, your bank account is going to be very safe.

No Fees

One of the best things about online banks is that many of them do not charge fees. You could potentially get a checking account that allows you to pay all your bills online and you will not have to pay any fees to the bank. Some of them do not even have fees for bounced checks. 

Check Images

When you are working with an online bank, you should also be able to get access to images of the checks that you have written. This way, instead of seeing simply an amount and a check number, you will actually be able to see a picture of the check that you wrote. Many times, this can jog your memory if you forgot to write down the information off of the check that you wrote. 

Transfers

Another benefit that you can get from online banks is that you can transfer money to other accounts. This allows you to link up to another bank account from a bank that is located in your local area. This way, if you need to deposit cash, you can take it to your local bank and then transfer the money to your online bank quickly. You will also be able to easily transfer money to an investment account or some other type of account that you have.



Thrift Bank


A thrift bank is a type of banking institution that is generally smaller than a full-service bank. The thrift bank puts an emphasis on taking deposits from customers and using that money to issue mortgages. The money from the mortgage interest that is generated is used to provide interest to the depositors of the bank. Although this is the basic business model of the thrift bank, some thrift banks have expanded to offer additional features such as checking accounts. This is a type of banking that has been around for many years and is also known as a "savings and loan." 


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