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Sep 1, 2018

What are the best online savings accounts?

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I never go into my local bank branch, so I'm thinking of switching to an online account. I've heard of places like Capital One and Ally. Are there others? How do I choose one?

Sep 3, 2018

Here's an article that compares online savings accounts, although my personal favorite is Synchrony. It's easy to set up and use and pays very nice interest each month!

 

If you're getting rid of your local branch, make sure to get an online checking account too - not just savings! You'll want something that functions like a checking account giving you a debit card and unlimited withdrawls. I use Capital One 360 Banking for a checking and (very short term) savings account. Again, it was very easy to set up, and I'm making more interest in my checking account than I was in my savings at my local bank branch! My only complaint is that it doesn't always play nicely with other apps, like Qapital or Mint, but I believe it's something they're working towards improving.

 

When it comes to picking one, look at the features to make sure it has what you need... low (or no) fees? Debit card? Checks? Etc. Also make sure to shop around and see if it's the best interest rate at the time.

 

At the end of the day, you really can't go wrong, as most of them are pretty comparable and have amazing benefits over local banks!

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