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Okay...I haven't read any of the posts here, I was refered here by the LBYM board and I'm hoping you can just help me decide if I really want to go to online banking and if so, which bank.

I currently use your average no interest checking, almost no interest savings, bricks and mortar bank. I rarely use the ATM, but this bank has lots of them, so I never have to pay $4 in fees to get $20. Because I have direct deposit, I rarely go to a branch and I have no monthly fees. I don't have online bill payment, although I'm gaining interest in that, but I do have online access to transfer funds and view transactions (this will be necessary with my next bank because I only use my register for checks and not ATM transactions.)

I'm looking for:

-no fees
-high interest
-online bill pay
-online access to records and easy access to transfer my money within accounts
*Please let me know if I'm forgetting something important!

I'm not sure if I'll go with a money market and checking or just one or how I should address that so suggestions will be helpful. Let me know what bank you use and what fees are associated!

Thanks!
:)Jen

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No. of Recommendations: 0
Okay...I haven't read any of the posts here, I was refered here by the LBYM board and I'm hoping you can just help me decide if I really want to go to online banking and if so, which bank.




I highly recommend you go through the previous postings as all of your questions will be answered, and then after you read the postings if you have a question I think we would all be glad to help. To give you my opinion would just be repetive posts that were done in the last couple of days. Good luck, and let us know if you have any questions, after you read the posts.

THE BLACK COBRA
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No. of Recommendations: 2
Some banks you might want to look at:

Directbanking.com:
** Interest Checking paying 4.00%APY
** Free Bill Pay
** No minimum balance requirements or fees
** DO NOT rebate ATM surcharges
** www.directbanking.com

USAccessBank:
** Interest Checking paying 4.00%APY
** Free Bill Pay
** No minimum balance requirements or fees
** DO NOT rebate ATM surcharges
** Free first order of checks
** www.usaccessbank.com

LighthouseBank:
** Interest Checking paying 2.50%APY
** Free Bill Pay
** No minimum balance requirements or fees
** Up to $6.00 in ATM surcharge rebates per month
** All standard Lighthousebank checks are free (not just first order)
** www.lighthousebank.com
NOTE: LighthouseBank will be merging into its parent company, Brookline Savings, so the above terms may not be around after the merger - no news yet.

NetBank:
** Interest Checking paying 2.02%APY
** Free Bill Pay
** No minimum balance requirements or fees
** First order of checks free
** NO ATM surcharge rebates
** www.netbank.com
NOTE: You might want to be careful with NetBank. They recently had a very badly handled acquisition of accounts from the now-defunct CompuBank. You might want to read up on NetBank before deciding.

Another place you might look is Online Banking Report. You can find them at www.onlinebankingreport.com. They list quite a few online-only banks. I believe that the ones I mentioned above are the only ones with no fees or minimum balance requirements, but there are other attractive deals.

There are three banks that are not on the Online Banking Report list:

1. Bank of Internet USA - www.bofi.com
2. USABancshares.com - www.usabancshares.com
3. JustRightBank - www.justrightbank.com

Hope this helps.
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PCBanker offers a promo interest rate at 4.7% which is one of the top rates for under $10k. ($1000 avg bal required soon)

ING as a savings vehicle is good. (5%) (No checking, no billpay, no ATM)

USAccess is pretty god at 4%..no ATM rebates.

Dont believe all the garbage people are saying about PCBanker. They are a good selection. Some Jim Jones type cult followers were in love with them and then they had a falling out. Apparently the cult followers drank the Kool-Aid and they were not able to grasp simple economics.
Apparently, they think banks exist to lose money on low balance accounts.
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No. of Recommendations: 1

Jen,

At the risk of sounding like a FIBI-groupie, I can recommend First Internet Bank of Indiana. It's a good, solid online offering with
some of the most top-notch (online AND offline) customer service, around!

Now for the "dollars and sense" portion:

Interest Checking Account:

- Currently offering 3.75 APY
- Effective July 1, a $4 monthly maintenance fee if $500 minimum balance isn't held (Also, if account drops below $500, no interest will be compounded)
- Free Bill Pay
- Real-time transactions (can be exported to Quicken or Money)
- Online imagary of cancelled checks (which can be printed at your desktop)
- Free wireless banking from your web-enabled wireless phone
- Ability to deposit funds to account from Visa Credit or Debit card (works nice, I deposit cash/checks to my local bank, and use their Visa check card to immediately move the funds to my FIBI account).
- Optional overdraft protection
- Visa Classic and Gold cards available with low 10.0 APR and no annual fees!
- Free electronic statements at the end of the month (Mailed statements are $3 a month, but with Quicken & Money, who needs paper statements?)
- And, most importantly, some of the happiest account-holders you'll ever hear from!

For other accounts, check-out FIBI's website at

http://www.firstib.com/personalaccts/cc.asp

Hope this helps!

Jim


Visa Check Card can not only be used at Plus ATM's, but can also be used on MAC/Star System ATM's/POS terminals

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I emailed them about the minimum balance, and they said that the fee will be imposed if your average balance falls below $500. That is to say, if your balance falls to $499 for one day, but you had $501 in the bank for the rest of the month, you would still get the interest and not be charged the fee.

(The actual email is on my laptop somewhere at work. )

David



----------------------------------

SouthJerseyJim wrote:
- Effective July 1, a $4 monthly maintenance fee if $500 minimum balance isn't held (Also, if account drops below $500, no interest will be compounded)
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Your forgetting ATM rebates. They can add up to much more than your interest income from the account, if each of 2 joint account holders get cash out of an ATM once a week for example. $1.50 X2 X4 =$12.00 per month.
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Hows that ? Are you using your ATM card extra times to make money ?

Otherwise how is it a deal ? If you are charged $9, you get rebated $9.
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FIBI also has free incoming on-demand ACH transfers. So you can transfer money from you B&M bank even if it does not offer Visa check card. The minumum ACH transfer you can initiate is $50. It takes about 3-4 days for money to be transferred to your FIBI account.
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Wow! Thank you guys for coming through! This is exactly what I needed. Now that I know where to start, I can narrow it down to what I need. I've gotten a lot of advice on ING and for now, that might be what I need. I'm not really worried about ATM fees too much or min balances. I usually have a decent balance and only make a couple of withdrawls a month, so high interest definitely comes before free ATM W/D's.

Thanks so much for all of your input!

:)Jen
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In response to the initial querry, many banks were mentioned as good options for on line banking, but I'm left wondering why the two banks I was looking at as candidates to get started with were not mentioned: Umbrella Bank and Citibank, which has an EZChecking plan that doesn't have a low minimum ($1500) but accepts other accounts as counting toward the minimum.
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Jen,

Emigrant Savings Bank now has PC Banking & Bill Payment. Its totally free too. There's no fees or minimum balance required. Check it out at emigrant.com








Okay...I haven't read any of the posts here, I was refered here by the LBYM board and I'm hoping you can just help me decide if I really want to go to online banking and if so, which bank.

I currently use your average no interest checking, almost no interest savings, bricks and mortar bank. I rarely use the ATM, but this bank has lots of them, so I never have to pay $4 in fees to get $20. Because I have direct deposit, I rarely go to a branch and I have no monthly fees. I don't have online bill payment, although I'm gaining interest in that, but I do have online access to transfer funds and view transactions (this will be necessary with my next bank because I only use my register for checks and not ATM transactions.)

I'm looking for:

-no fees
-high interest
-online bill pay
-online access to records and easy access to transfer my money within accounts
*Please let me know if I'm forgetting something important!

I'm not sure if I'll go with a money market and checking or just one or how I should address that so suggestions will be helpful. Let me know what bank you use and what fees are associated!

Thanks!
:)Jen
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