No more long lines. Money saved on postage. Expert investment advice at the
click of a mouse. Sound good? Take a look at the world of online banking.
Entrusting your money to anyone is a big step and you'll want to be certain
that you understand the issues. Most banks offer services in one of two ways:
client-based, where the user is required to have special software to access bank
services, and Internet-based, where the consumer dials in and uses the bank's
software. BankRate.com's OnLine Banking: The Basics explains how different services work and outlines advantages and disadvantages of each.
The foremost concern for most people is security. Will your
money be safe?. At the US Consumer Gateway, you can
learn more about the rights and protections available to you.
The site also provides links to organizations you can contact for bank ratings and analysis.
At FDIC, you'll find
guidelines for determining whether an entity is an FDIC-insured institution, as well as
instructions for reporting suspicious Web sites.
Once you gather a bit of knowledge, start shopping. The following banks have emerged as leaders in the space:
- E*Trade
Offers extensive investment and banking services. It often
features special deals.
- ebank.com
Offers both personal banking and small business accounts with direct deposit,
free ATM use, software compatibility and rate comparisons.
- CompuBank Online
Was rated the #1 bank on-line by Smart Money. The bank offers $20 to new customers.
- Netbank
Has provided banking and investment services since 1996.
Comparison Tools
These helpful resources can help you choose from thousands of other banks that offer online services:
Online banking is the wave of the future - you can bank on it!
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--- J. Walker
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