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Online bank recommendations?
Old 06-05-2014, 02:53 PM   #1
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Online bank recommendations?

I need to find an online bank to use. What I most want: no-fees for any ATM withdrawals, reimbursement of fees charged by ATMs of other banks, no fee for withdrawal of foreign currency (Euros) at foreign locations, easy way to deposit checks. A decent interest rate would be nice but rates are so low right now I'm not sure it really matters. Any recommendations?
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Old 06-05-2014, 03:04 PM   #2
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I use Capital One 360 online (formerly ING bank). No ATM fees IF you use an Allpoint branded terminal. Deposits can be made by mail but I use a phone app to snap pictures of check front and back and is pretty painless. Current rates are competitive (0.75% on savings; checking depends upon balance). There are no fees.

They state "If you use your Card for a foreign transaction (any transaction made in a foreign currency or that MasterCard classifies as a cross-border transaction), we won't charge you anything." I've only done this in the UK.
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Old 06-05-2014, 03:14 PM   #3
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I use Ally for online savings. They pay .87% interest, which is about as high as I could find. I do not use them for ATM services though. I keep a local Bank of America checking account for that. There are no fees for their account, I get free checks, and I can find a Bank of America ATM on just about every corner, so no charge for ATM withdrawals as long as I use one of their ATMs.

I suppose it would be nice to find an online bank that also has free ATM services regardless of whose brand of ATM machine you use. I would think that if you found one though, the tradeoff would be lower interest rates, and I'd rather have the best of both by using two different accounts.
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Old 06-05-2014, 03:24 PM   #4
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If you have a Schwab account, their credit/debit card has no ATM fees no matter where you withdraw from (or they reimburse you for them), and no foreign transaction fees. They also have mobile check deposit.
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Old 06-05-2014, 03:25 PM   #5
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Schwab Banking is very good. They charge no fees for any machine at all and they reimburse you for any fees the ATM bank charges you. I do what Ready suggests, all ATM needs are processed through any ATM terminal and my cash is in Ally, Everbank, and CIT. When the Schwab funds get low I just go online and move money from one of those places to Schwab.
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Old 06-05-2014, 03:39 PM   #6
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Fidelity has a cash management account with free any ATM use. Not sure about the foreign withdrawals. The usual low interest rate. I use Ally and Sally Mae for cash I don't need for a short time.
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Old 06-05-2014, 05:56 PM   #7
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I also use Schwab, mainly for the reimbursement of all fees for ATM cash withdrawals when travelling outside the US.
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Old 06-05-2014, 06:08 PM   #8
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Another vote for Ally. It's all temporary anyway...
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Old 06-05-2014, 07:55 PM   #9
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We have AMEX savings. Good rate and no fees. Not sure about the ATM as we just use credit union (which is linked via ACH to Amex both directions).
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Old 06-05-2014, 08:09 PM   #10
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We opened a Schwab brokerage today. It is linked to "High Yield" checking account. I went to a local office to get this rolling, and now can access online.

Reimbursement of ATM fees and no money conversion costs is a really nice feature.
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