Internet Checking Account Guide
The Internet is filled with news and articles about online savings accounts, certificates of deposit rates and IRA information. But, for some reason, personal finance blogs don’t like to write about checking accounts. That is unfortunate because people use their checking account more than any other banking instrument. Hopefully this internet checking account guide will help you to find the best checking accounts by explaining what you need to look for.
In my previous article on the iGoBanking.com Online Checking Account, I discussed how you can find high interest checking account rates and vastly improve your interest earnings. Unfortunately, too many people are still using checking accounts that earn .25% checking account interest rates. I hope that this Internet Checking Account Guide motivates you to find a high interest checking account and earn more interest on your checking account balance.
What to look for in an Internet checking account:
1. High interest rates – The biggest advantage of an Internet checking account vs. a traditional checking account is the high interest checking account rates. If you are not going to be having the advantages of a local bank branch, you need to look for the highest checking account rates possible.
2. Free ATM machines – You absolutely need to find an Internet checking account with free ATM machines that are convenient to you. If you are paying ATM fees, it will not matter how much interest you earn, that interest will be wasted on the ATM fees. Many online banks are part of the Allpoint ATM network. You can check for Allpoint ATMs near you here.
3. Debit cards – Debit cards make it much easier for you to get access to your checking account funds. You must make sure that your Internet checking account provides a debit card.
4. Free Billpay service – I love being able to pay my bills online. A free billpay service has become an absolute must for me with any Internet checking account. Additionally, look for a free billpay service that is really easy to use. Some billpay interfaces are clunky and not user friendly. Look for one that is intuitive and easy to setup.
5. Low minimum balances – Low minimum balance requirements ofter go hand in hand with the checking account rates. Some checking accounts require high minimum balances. This ties up your money.
The Online Banks Blog will keep you up to date on the latest internet checking account rates and news. Hopefully this Internet Checking Account Guide will help you in evaluating the various online checking accounts we review. To keep up to date, please subscribe to the Online Banks Blog RSS feed.
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