As the Internet becomes accessible to more people and broadband penetration increases across the United States and around the world, more and more people are choosing to do their banking online. With the popularity of ING Direct and HSBC more and more people are also opening online savings accounts. Online banking and online savings accounts provide a level of convenience that brick and mortar banks lack. As fear of these online banking options lessen, you will see this adoption rate continue to increase. The benefits of online banking are numerous. The first benefit is that you don't have to stand in line to talk to a bank teller. Instead, you can monitor your bank accounts, transfer money between accounts, and pay bills online in the comfort of your own home. Not having to drive to the bank is a wonderful improvement. Another benefit is that online savings accounts are paying a higher rate of interest than other banks. Due to not having the high overhead associated with running hundreds to thousands of bank branches, it is cheaper for online banks. This savings can be passed through to investors in the form of high interest rate savings. Another advantage of online banking is that you can perform your banking on your own time twenty four hours a day, seven days a week. You are no longer impeded by those dreaded bankers' hours. Instead, as long as you have Internet access you can pay bills and make transfers. In addition to great online savings accounts, many online banks are now opening online checking accounts. These online checking accounts are offering high interest rate free checking services. Most brick and mortar banks do not pay interest on their checking accounts. However, this might be changing with the introduction of free online checking products like the ING Electric Orange checking accounts. Most online banks also offer credit services. This could be in the form of credits cards, debit cards, online loans, payday loans, etc. You can find some great online rates for mortgages and credit card offers. There is really no reason why you would need a brick and mortar bank for these online credit services. Conduct you banking through online services is better than ever. I hope that this article convinces you to check out these online options. The Internet has revolutionized banking and has made it much more convenient.
For more information on online banking read this review of Wachovia online banking An example article is Wachovia CD rates
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