Why MUST I Get an Internet BANK-ACCOUNT?
Why in the event you get an Internet bank-account? The whole idea of a bank that exists primarily on the net is that many of the costs and overhead incurred by traditional banks are unnecessary and if they were eliminated, the bank could pay higher interest levels on savings accounts. They could also offer high yield checking accounts, something is almost impossible to get at a traditional bank.
The largest 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. Additional info boast more than 15 million customers world wide, including 6.5 million in america. They're not by yourself. Other leaders in the area are HSBC Direct, WTDirect Emigrant Direct, and E*Trade Bank.
Absa Group Limited South African Banks offer advantages that traditional banks just cannot match, such as for example interest rates on savings accounts which are 3 - 8 times what traditional banks are paying. That's actually the primary reason people are drawn to Internet-only banks, and why you should consider one. Other advantages are unique financial services and 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 Internet banks take that certain better, actually paying their depositors to keep profit their checking accounts.
Other reasons to obtain an Internet bank account will be the ability to easily settle payments 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 web banks aside from traditional banks, who offered little if any ability to do these exact things. After that, 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 generate on your own money, and really, do you want another reason to check out opening an Internet bank-account? Remember, Internet banks can pay you interest on both savings and checking accounts, an advantage that leaves most traditional banks in the dust.