Online Banking Anyone?

[ultrarunner]

Discover Card is offering 1.4% with few strings for their online Savings Account. There was a time when the local banks would offer incentives for new money or paid competitive rates...

Local Credit Unions are much better but have not found anything comparable to the current Discover Card rate.

Call me Brick and Mortar but the difference going online can be as much as 50 times the rate of the corner bank.

 

[PILOON]

With all the 'hacking' out there I prefer to stay old fashioned, use cash and or write checks.

 

[rekees4300]

Discover Card is offering 1.4% with few strings for their online Savings Account.

If it seems to good to be true it probably is. I wouldn't touch it unless it's FDIC insured.

 

[bunyip]

Online banking is encouraged here and a lot of banks charge for over the counter transactions that could have been done online, exceptions are bank cheques and cash deposits.
A lot of accounts are not interest bearing and have monthly charges attached, I have a cheque account with our bank but pay no fees on the proviso that I don't write any cheques and use online for paying bills and EFTPOS when out shopping.
You have to shop carefully, our other account pays 1.4% if you don't use it for normal day to day work and 3.5% if you set aside a portion for 6 months or more.
It just gets more complex by the week and you can spend a lot of time just keeping up with all the changes.
The taxation department (ATO) are aware of how much interest I earn and when I fill in a return for my accountant the figures aautofill so you can't put in such a creative return as you used to be able to.

 

[Wagtail]

I do all of my banking online or via the ATM in town. Mind you, I've got no choice to do otherwise (other than switching banks) as the local Westpac branch shut down a year & a half ago. I've never had a problem with doing it online and if I need to do face-to-face banking I'll make an appointment with a branch in Launceston (2 hour drive).

Ah, the blissful rural life, eh?

 

[bunyip]

And most banks charge up to $2.50 for a non member ATM transaction, that really gets up my nose as it is an exorbitant fee for a nanosecond transaction and at the end of the day it is my money.
I bank with Suncorp (a Queensland Bank) as they have less or no fees but not many ATM's, they have an arrangement with Redibank for fee free ATM withdrawals.......... if you can find one, failing that I just take out cash at the supermarket or Post Office both of which are fee free.

 

[MinnesotaEric]

All of my banking is done online. I maintain multiple accounts to limit liabilities when banks get hacked and so forth.

1.4% is outstanding on a saving account.

 

[Oldpath05]

Maybe in a few years we'll all be using Bitcoin.

 

[two_bit_score]

Maybe in a few years we'll all be using Bitcoin.

Send me all your money and I'll get you a great deal on that.

 

[ultrarunner]

Online Savings Account - High Interest & No Monthly Fees | Discover

I have no ties to Discover.... just looking for better return.

Here is a link to their FDIC coverage

FDIC Insurance | Discover Bank