Save Money – Choose an Online Only Bank!

Here’s something you probably already know: we’re a mobile society that’s always on the go. There’s just no getting around that. Yet there does come a point where you have to look at how well things fit into your new mobile life. If you’re on the go, shouldn’t your banking be too?

That’s the subject of debate in a lot of banking circles. Getting account info on your phone is cool, but there are security issues that every banking institution has to think about. It can’t just be a matter of customer convenience. Your sensitive financial information has to be protected at all costs. Hackers could get your information and have a field day. Not what you really want to look forward to at all.

The conversation naturally tilts towards online banking. After all, it isn’t like we don’t know how to protect customer information online. We’ve gotten good at encrypting things. Online banking is full of regulations involving security, so you wouldn’t have to worry too terribly much about your information.

Online banking has been around for a while now, so it’s not like you’re missing out on too much. You can get an online bank account without any stress, giving you a new world to explore. If you bank from a physical location, you probably have online access to your account as well. If you’re someone that travels a lot though, it might be wise to think about an online only bank. The overhead is less which means that you can get better rates than a traditional bank where the overhead is so high.

The nice part about online banking is that it’s available anywhere you have an online connection. So if you happen to move away from that particular location where the physical bank is located, you’re not going to want to drive all the way back just to use their services.

In a troubled economy, cutting costs is a good thing. Services that we like in the online banking sector include ING Bank and Ally Bank. There are plenty of other ones out there, so make sure that you truly explore all of your options.