ArtsAutosBooksBusinessEducationEntertainmentFamilyFashionFoodGamesGenderHealthHolidaysHomeHubPagesPersonal FinancePetsPoliticsReligionSportsTechnologyTravel

Best Online Savings Accounts

Updated on June 27, 2013
Online Banking is steadily increasing.
Online Banking is steadily increasing. | Source

Online Banking

Many online savings banks now offer interest on savings and checking. When shopping for a new money services provider, be sure to check their history and policy on overdraft fees, atm withdrawal fees, returned check fees, monthly maintenance and low balance charges.

Some banking systems which are international, or which exist only online, pay your atm withdrawal charges. USAA is one of these. If you are prior service military, or currently active, check out USAA and save atm fees. At $2 to $5 each, atm fee savings will likely overshadow the financial benefit of earning interest.

Top Online Savings Interest Rates

(click column header to sort results)
Account Type  
Interest Rate (APR)  
Required Opening Deposit ($)  
CIT Bank
1.05 %
1.00 %
Discover Bank
.90 %
Colorado Federal Savings Bank
.85 %
ally Bank
.84 %
ING Direct
.80 %
Dollar Savings Direct
.75 %
American Express Bank, FSB
.75 %
Heartland Bank Direct
.70 %
FNBO Direct
.65 %
Online Interest Rates Ranked Purely by Highest Rate First
ING is one of the most popular online banks because of its advertising efforts. However, some banks offer higher returns.
ING is one of the most popular online banks because of its advertising efforts. However, some banks offer higher returns.

Considerations in Choosing an Online Account

Some savings are placed into accounts so that it can be easily accessed. Money earmarked for long term investing (such as retirement funds) is invested according to risk comfort and age of the investor. A savings should still earn money, however. The rates offered fluctuate according to the demand for capital. As demand increases, banks offer higher rates to attract more money, so they can loan more to investors at higher interest rates.

Financial Advantages of Online Banking

Online banking has many advantages. Some of the significant advantages are:

1. Great hours: Brick and mortar banks focus on 9-5 customers. Online banks have clients all over the globe. This means you can gain access anytime, anyplace.

2. ATM fee waiver: Online banks, to remain competitive, waive the withdrawal fee charged by other banks for using their automatic teller machine. That amounts to a lot of convenience. Rather than driving to the free ATM belonging to your bank, just find the closest machine and make a withdrawal.

3. User-friendly: Online banks are designed to be online-friendly. This means bill pay functions, transfer functions and other user options should be easier to access, learn, and utilize when compared to traditional walk-in modalities.

Hottest Online Bank Account Rates and Deals

Banks run promotions all the time. In the table above, American Express Bank is shown to offer a 0.75% APR. However, in August, 2012, American Express Bank ran ads promoting a 0.90% APY, one of the highest yields available. And, the ad noted their no minimum deposit policy.

To find current deals and special offers to open new bank accounts online, check the ads on this page. I have noted some excellent offers and rates. chose Ally Bank as the online bank of the year for 2013. Definitely worth looking at Ally Bank.


    0 of 8192 characters used
    Post Comment

    No comments yet.


    This website uses cookies

    As a user in the EEA, your approval is needed on a few things. To provide a better website experience, uses cookies (and other similar technologies) and may collect, process, and share personal data. Please choose which areas of our service you consent to our doing so.

    For more information on managing or withdrawing consents and how we handle data, visit our Privacy Policy at:

    Show Details
    HubPages Device IDThis is used to identify particular browsers or devices when the access the service, and is used for security reasons.
    LoginThis is necessary to sign in to the HubPages Service.
    Google RecaptchaThis is used to prevent bots and spam. (Privacy Policy)
    AkismetThis is used to detect comment spam. (Privacy Policy)
    HubPages Google AnalyticsThis is used to provide data on traffic to our website, all personally identifyable data is anonymized. (Privacy Policy)
    HubPages Traffic PixelThis is used to collect data on traffic to articles and other pages on our site. Unless you are signed in to a HubPages account, all personally identifiable information is anonymized.
    Amazon Web ServicesThis is a cloud services platform that we used to host our service. (Privacy Policy)
    CloudflareThis is a cloud CDN service that we use to efficiently deliver files required for our service to operate such as javascript, cascading style sheets, images, and videos. (Privacy Policy)
    Google Hosted LibrariesJavascript software libraries such as jQuery are loaded at endpoints on the or domains, for performance and efficiency reasons. (Privacy Policy)
    Google Custom SearchThis is feature allows you to search the site. (Privacy Policy)
    Google MapsSome articles have Google Maps embedded in them. (Privacy Policy)
    Google ChartsThis is used to display charts and graphs on articles and the author center. (Privacy Policy)
    Google AdSense Host APIThis service allows you to sign up for or associate a Google AdSense account with HubPages, so that you can earn money from ads on your articles. No data is shared unless you engage with this feature. (Privacy Policy)
    Google YouTubeSome articles have YouTube videos embedded in them. (Privacy Policy)
    VimeoSome articles have Vimeo videos embedded in them. (Privacy Policy)
    PaypalThis is used for a registered author who enrolls in the HubPages Earnings program and requests to be paid via PayPal. No data is shared with Paypal unless you engage with this feature. (Privacy Policy)
    Facebook LoginYou can use this to streamline signing up for, or signing in to your Hubpages account. No data is shared with Facebook unless you engage with this feature. (Privacy Policy)
    MavenThis supports the Maven widget and search functionality. (Privacy Policy)
    Google AdSenseThis is an ad network. (Privacy Policy)
    Google DoubleClickGoogle provides ad serving technology and runs an ad network. (Privacy Policy)
    Index ExchangeThis is an ad network. (Privacy Policy)
    SovrnThis is an ad network. (Privacy Policy)
    Facebook AdsThis is an ad network. (Privacy Policy)
    Amazon Unified Ad MarketplaceThis is an ad network. (Privacy Policy)
    AppNexusThis is an ad network. (Privacy Policy)
    OpenxThis is an ad network. (Privacy Policy)
    Rubicon ProjectThis is an ad network. (Privacy Policy)
    TripleLiftThis is an ad network. (Privacy Policy)
    Say MediaWe partner with Say Media to deliver ad campaigns on our sites. (Privacy Policy)
    Remarketing PixelsWe may use remarketing pixels from advertising networks such as Google AdWords, Bing Ads, and Facebook in order to advertise the HubPages Service to people that have visited our sites.
    Conversion Tracking PixelsWe may use conversion tracking pixels from advertising networks such as Google AdWords, Bing Ads, and Facebook in order to identify when an advertisement has successfully resulted in the desired action, such as signing up for the HubPages Service or publishing an article on the HubPages Service.
    Author Google AnalyticsThis is used to provide traffic data and reports to the authors of articles on the HubPages Service. (Privacy Policy)
    ComscoreComScore is a media measurement and analytics company providing marketing data and analytics to enterprises, media and advertising agencies, and publishers. Non-consent will result in ComScore only processing obfuscated personal data. (Privacy Policy)
    Amazon Tracking PixelSome articles display amazon products as part of the Amazon Affiliate program, this pixel provides traffic statistics for those products (Privacy Policy)