Why Should I Get an Internet Bank Account?
Why should you get an Internet bank-account? The whole concept of a bank that exists primarily on the Internet is that many of the expenses and overhead incurred by traditional banks are unnecessary and when they were eliminated, the bank could pay higher interest levels on savings accounts. They might also offer high yield checking accounts, something is almost impossible to get at a traditional bank.
The biggest Internet bank is ING Direct, a subsidiary of the huge Netherlands based financial conglomerate ING. ING Direct has been experiencing impressive growth since their spin off from ING in 2000. They now boast a lot more than 15 million customers worldwide, including 6.5 million in america. They're not alone. Other leaders in the space are HSBC Direct, WTDirect Emigrant Direct, and E*Trade Bank.
These banks offer advantages that traditional banks just cannot match, such as interest rates on savings accounts that are 3 - 8 times what traditional banks are paying. That's actually the principal reason people are drawn to Internet-only banks, and why you should consider one. check here are unique financial products, such as ING Direct's 5 year mortgages, and checking accounts that actually pay a healthy interest. Even though many traditional banks advertise free checking accounts, the web banks take that one better, actually paying their depositors to help keep money in their checking accounts.
Other reasons to obtain an Internet bank account will be the ability to easily pay bills and see all areas of your account from any computer with Access to the internet. When these features were first offered they truly set the Internet banks apart from traditional banks, who offered little if any ability to do these things. Since that time, many traditional banks have added online banking and closed the gap of this type. Now the main advantage of an Internet bank account may be the very high interest rates you can earn on your money, and really, do you need another reason to check out opening an Internet bank account? Remember, Internet banks can pay you interest on both savings and checking accounts, an edge that leaves most traditional banks in the dust.