(image source; Ally Bank) Saving money for big one-time purchases or to have in case of an emergency is an important part of money management that everyone should be taking part of to help secure a solid financial future for themselves or their family. A high-yield savings account can be a useful in these cases, offering a larger annual percentage yield (APY) than a just a … [Read more...] about Ally – Online Savings Account – Review
Comprehensive Online Bank Reviews: Value and Features
The Bank Professor constantly reviews financial institutions of all shapes and sizes. This category specifically focuses on online banks.
Our goal is to give a comprehensive review of each online bank including:
- State availability
- Account fees
- Account benefits
- Disadvantages we discover
- Competing offers from other banks
- Status of FDIC membership
- How to open an account
- How to access the account online
- Links to related mobile banking apps
- Bank History
Barclays Online Savings Account – Review
(image source; banking.barclaysus.com) Barclays Bank has been in business since the 1600s, mainly in the United Kingdom, and over the centuries has received worldwide notoriety for their retail banking and credit card services. In 2012, they branched into their newest venture of offering easy, low fee, high-yield online savings for their customers around the … [Read more...] about Barclays Online Savings Account – Review
MySavingsDirect Online Savings Account – Review
(image source; mysavingsdirect.com) If you are looking for a no-frills, no fee, high-yield online savings account experience - you may want to check out the latest offering from Emigrant Bank: MySavingsDirect. What Is A MySavingsDirect Account ? MySavingsDirect is an online savings account program offered by Emigrant Bank. The bank is currently offering an … [Read more...] about MySavingsDirect Online Savings Account – Review
Synchrony Bank High-Yield Savings Account – Review
Looking for a high-yield savings account to grow your money? If so, you may want to check out this newcomer to the online banking world: Synchrony Bank. Synchrony currently offers one of the highest APYs in online savings at 3.00%, with no minimum opening deposit, no minimum balance and no associated maintenance fees on the account. What Is A Synchrony Bank High-Yield … [Read more...] about Synchrony Bank High-Yield Savings Account – Review
Vio Bank High-Yield Online Savings Account – Review
(image source; viobank.com) Opting for an online savings account means all of your account services aren't tied to physical banking locations. Therefore, these accounts can offer higher returns because they don't carry all of the costs associated with those brick-and-mortar branches. If you're looking for an online savings account that is easy to manage and provides a great … [Read more...] about Vio Bank High-Yield Online Savings Account – Review
TAB Bank High Yield Savings Account – Review
(image source; TABbank.com) Work in transportation? If you're looking for an innovative online-only banking experience, a high-yield savings account from TAB Bank (Transportation Alliance Bank) may be a good option for you... because right now they are offering one of the highest annual percentage yields in the market at 3.00% APY! TAB Bank has been in operation since … [Read more...] about TAB Bank High Yield Savings Account – Review
HSBC Direct Savings – Online Account – Review
(image source; HSBCDirect.com) The FDIC has recently calculated that the latest average annual percentage yield (APY) on a savings account is a minuscule 0.05%... totally depressing if you ask me! If you already have a savings account set up, chances are that your money is just sitting in the account earning next to nothing...so why not make the switch to a high-yield … [Read more...] about HSBC Direct Savings – Online Account – Review
Citizens Access – High-Yield Online Savings – Review
(image source; Citizens Access) In July 2018, Citizens Bank introduced their newest branch: Citizens Access - an online only bank. Although Citizens Access Savings accounts are backed by Citizens Bank, it operates completely separate. Above all, they try to keep costs for consumers as low as possible. If you are looking to make the switch to an online-only saving … [Read more...] about Citizens Access – High-Yield Online Savings – Review
Marcus by Goldman Sachs – Online Savings Account – GS Bank Review
Marcus by Goldman Sachs is relatively new player in the field of high-yield, online savings accounts that you should keep an eye on. I opened one of the predecessor GS Bank online savings accounts on October 11, 2016 and have enjoyed watching the interest rates grow over the years, up to the current 3.00% APY. What is Marcus by Goldman Sachs? Marcus by Goldman Sachs is … [Read more...] about Marcus by Goldman Sachs – Online Savings Account – GS Bank Review