[Pamela]

I am skeptical about it, if I can trust the bank online thing…please respond with your thoughts.. Thank you

[Moni]

One thing to be aware of is if the bank has any rules about moving money. Do you have immediate access to it? Is there a limit of transfers per month? Etc.

most places have been pretty good about this but the last thing you want is to expect to be able to get your money right away but then there’s some hoops to jump through.

Proposed: Foreign currency savings account?

[Debi]

We have always uses a Credit Union. I trust them awhile lot more then banks. Your money is insured, like a bank. And you never hear problems about them, like the banking system.

[Wendy]

American Express is good 4.3% right now. You don’t need a certain amount to open it.

[Courtney]

What banks are you considering? As with everything, there’s some good ones and some not so good ones when it comes to online banking.

We do 100% of our banking online and have never had an issue because we use an FDIC insured bank that happens to operate primarily online.

[Kiersten]

I won’t lie. I had a lot of struggles to finally move our money over. But I chose a HYSA bank with great reviews, great rates, that is FDIC insured.

Frankly, we move a lot anyway so I haven’t been to our main bank in YEARS.

Having an online bank for our savings doesn’t seem like such a big jump after considering that little factor.

Suggested: With 7k saved for a house down payment and expecting a pension next year, should I invest or keep saving in a savings account?

[Wendy]

Another Ally user here. We have 3 separate savings accounts with them. Transfers between them and our checking bank is easy and never had a problem. I had some questions and got a person right away on the phone.

Like others said, if it is FDIC insured, you are covered.

[Lindi]

I’ve been with Ally for 6 years now. Never had any problems and a good interest rate. So glad I did it!

[Marilyn]

Discover Bank is great.

[Barb]

Yes, I currently use Jenius Bank, current savings rate at 5.25%, I have also used other online ones, I chase the rate if it’s worth it, just make sure they are FDIC insured and your money is safe.

[Julia]

Although I dont have such accounts, I’m hearing a lot of positive reviews for SoFi. I believe that they’re FDIC insured.

[Jennifer]

Do your research to confirm that the particular company you choose is FDIC insured. Don’t only rely on a a picture of the FDIC logo showing on their website. Actually research it.

[Susan]

I use Marcus by Goldman Sachs. If you are an AARP member, you can get an slightly better rate for some amount of time.

[Joy]

I didn’t like the idea of an online only HYSA so I went with a bank that has local branches. My interest is a little lower than some of the online only ones, but I like the convenience of getting money immediately when I need it.

I use PNC and have a 4.65% rate.

Preferred: Looking for best emergency savings account for good interest rate – Any suggestions?

[Bethany]

I have Ally, and I love it. Easy to use and simple to set up.

[Bethany]

I use PayPal savings. I believe it’s 4.3% right now.

[Molly]

Do you mean a High-Yield Savings Account? I was skeptical about them too but my husband was using one because his company didn’t have a 401k. I eventually opened one in addition to my 401k and I regret not doing it sooner. I earned more in 1 month than I did in the last 20 years of my regular banks savings.

I use Betterment but there are many others available. Put in a small amount to see if you’re comfortable with it before putting in more. I have mine set up to automatically contribute weekly from my checking account.

We recently had to pull out quite a bit of money to pay for a kitchen remodel. It took 1 1/2 days to be available in our regular banks checking account.

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