Join Early Retirement Today
Reply
 
Thread Tools Search this Thread Display Modes
Online banking--any issues?
Old 01-20-2018, 09:03 AM   #1
Recycles dryer sheets
 
Join Date: Feb 2017
Posts: 130
Online banking--any issues?

I have some CDs in online banks but I'm thinking about changing my emergency fund over there. (not CD)

Any issues with them?

Haven't touched it in at least five, maybe ten years and it's sitting in Chase at 0.03%. I realize it is there just for emergencies--but we could cover most outside of the emergency fund also.

CIT is at 1.55%, GS at 1.50. Any problems getting the funds if you need them--say within a couple of days?

I look at Bankrate to compare but are there others out there with a little better rate?

Thanks.
__________________

Luvdogs is offline   Reply With Quote
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!

Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that Early-Retirement.org is a great community to join. Best of all it's totally FREE!

You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!

Old 01-20-2018, 09:26 AM   #2
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
audreyh1's Avatar
 
Join Date: Jan 2006
Location: Rio Grande Valley
Posts: 23,968
I have been able to transfer funds within a couple of days.
__________________

__________________
Retired since summer 1999.
audreyh1 is offline   Reply With Quote
Old 01-20-2018, 10:57 AM   #3
Recycles dryer sheets
cranberryjoe's Avatar
 
Join Date: May 2013
Location: Western US
Posts: 165
I've been using Barclays Online Savings for about 5 years. Transfers to my checking account at a local bank generally take about 2 business days.
__________________
Life is good
cranberryjoe is offline   Reply With Quote
Old 01-20-2018, 10:59 AM   #4
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Sunset's Avatar
 
Join Date: Jul 2014
Location: Spending the Kids Inheritance and living in Chicago
Posts: 8,109
No problems at all, other than I have to transfer to a real bank to spend it as that is my habit.

Note: Ally bank will let you withdraw money from an ATM, so that is closer to a "real" bank and would be useful if the Internet was down.

Now if they would allow me to download and print the money I'd be all set
Sunset is offline   Reply With Quote
Old 01-20-2018, 11:00 AM   #5
Thinks s/he gets paid by the post
Gotadimple's Avatar
 
Join Date: Feb 2007
Posts: 2,035
Transfers between banks take 2 to 3 days. Generally in 2 days funds are available. The process to do this are easy as long as you link both accounts which may take a few days to accomplish.

- Rita
__________________
Only got A dimple, would have preferred 2!
Gotadimple is offline   Reply With Quote
Old 01-20-2018, 11:39 AM   #6
Full time employment: Posting here.
RetiredGypsy's Avatar
 
Join Date: Mar 2008
Posts: 979
I've used ING Direct (now Capital One 360), Amazon Payments, and Discover Bank, without any issues. ING Direct took the full 7 days to transfer, and I noticed Capital One 360 takes just about the same. Their savings rates have plummeted since the switch, so I've stopped using them. Discover Bank transfers in just a couple days, both ways, and they have great customer service.
__________________
I'm free and I like it!
RetiredGypsy is offline   Reply With Quote
Old 01-20-2018, 11:53 AM   #7
Thinks s/he gets paid by the post
 
Join Date: Jun 2004
Location: Diablo Valley (SF Bay Area)
Posts: 1,631
I've been with USAA for 13+ yrs. No problem with an 'online' account --- no branch within Northern California. Bill pay is automatic, ATMs all over & they reimburse 1st 10 charges a month for using another banks' ATM, same day credit for transfers to my Schwab bank account which is also online only. You won't 'see' a difference with debit or credit accounts!
gayl is offline   Reply With Quote
Old 01-20-2018, 01:34 PM   #8
Moderator
Aerides's Avatar
 
Join Date: Nov 2015
Posts: 4,282
I've been with Everbank for 13+ years, no issue, many transfers, and they actually have a few branches in some areas.
Aerides is offline   Reply With Quote
Old 01-20-2018, 03:22 PM   #9
Thinks s/he gets paid by the post
GalaxyBoy's Avatar
 
Join Date: Jul 2009
Location: The Beautiful Blue Ridge Mountains
Posts: 1,738
I'm happy with Ally. Transfers to Schwab Bank take one business day, and I can write checks from Schwab.

OTOH, in a real emergency I could write a check and have it covered by a margin load in the Schwab One account. I would never do that, but I guess it's an option if I were in dire straits.
GalaxyBoy is offline   Reply With Quote
Old 01-20-2018, 03:46 PM   #10
Thinks s/he gets paid by the post
 
Join Date: Jun 2004
Location: Diablo Valley (SF Bay Area)
Posts: 1,631
If I request that Schwab initiate the transfer of funds then I have immediate access to those funds. Not sure if it has to do with my total amount at Schwab or if it's simply that they can see the link between the two Banks.
gayl is offline   Reply With Quote
Old 01-20-2018, 03:51 PM   #11
Thinks s/he gets paid by the post
 
Join Date: Jan 2008
Posts: 1,055
We use USAA for checking and AMEX for savings. Transfers either way are normally completed in 24 hours or less.
jebmke is offline   Reply With Quote
Old 01-20-2018, 04:02 PM   #12
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
mickeyd's Avatar
 
Join Date: Apr 2004
Location: South Texas~29N/98W Just West of Woman Hollering Creek
Posts: 6,307
No issues between USAA and Ally. A couple of business days at most.
__________________
Part-Owner of Texas

Outside of a dog, a book is man's best friend. Inside of a dog, it's too dark to read. Groucho Marx

In dire need of: faster horses, younger woman, older whiskey, more money.
mickeyd is offline   Reply With Quote
Old 01-20-2018, 04:58 PM   #13
Thinks s/he gets paid by the post
 
Join Date: Aug 2014
Location: Chicago West Burbs
Posts: 1,299
I have no online bank. I am thinking of going to Fidelity. Has anyone got any experience with them?
CRLLS is offline   Reply With Quote
Old 01-29-2018, 11:57 AM   #14
Thinks s/he gets paid by the post
 
Join Date: Jan 2018
Location: NE Ohio
Posts: 1,264
Quote:
Originally Posted by CRLLS View Post
I have no online bank. I am thinking of going to Fidelity. Has anyone got any experience with them?
We have checking accounts with both Schwab (High Yield Investor Checking) and Fidelity (Cash Management). We've written checks and used online billpay with both with no issues. Both reimburse ATM fees.

When transferring from the Schwab checking to Schwab brokerage, or vice versa, balances are updated instantly. With Fidelity, the balances are updated the next business day.

If you're just interested in a checking account, the Fidelity Cash Management account is an eligible account for automatically depositing Fidelity Visa cash back rewards into. You don't have to open a brokerage account to get this account.
gwraigty is offline   Reply With Quote
Old 01-29-2018, 12:01 PM   #15
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
pb4uski's Avatar
 
Join Date: Nov 2010
Location: Vermont & Sarasota, FL
Posts: 24,773
DiscoverBank here. Never s problem... transfers typically take a couple days.
__________________
If something cannot endure laughter.... it cannot endure.
Patience is the art of concealing your impatience.
Slow and steady wins the race.

Retired Jan 2012 at age 56...target 65/35/0 AA
pb4uski is offline   Reply With Quote
Old 01-29-2018, 12:03 PM   #16
Thinks s/he gets paid by the post
UnrealizedPotential's Avatar
 
Join Date: May 2014
Posts: 1,053
I've never had any issues. I just make sure I get a new password every few months. But as was said earlier it takes a few days for money to settle between accounts, but other than that no issues.
__________________
Understanding both the power of compound interest and the difficulty of getting it is the heart and soul of understanding a lot of things. Charlie Munger

The first rule of compounding: Never interupt it unnecessarily. Charlie Munger
UnrealizedPotential is offline   Reply With Quote
Old 01-29-2018, 12:04 PM   #17
Thinks s/he gets paid by the post
Scrapr's Avatar
 
Join Date: May 2005
Location: Bend
Posts: 1,148
Vanguard Prime MM is at 1.45% yield now

Maybe easier than setting up a brand new account?
__________________

Scrapr is offline   Reply With Quote
Reply


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Mobile Banking Issues Ready FIRE and Money 3 08-12-2013 10:02 PM
Expat Banking Issues - Any Suggestions? ncaraway FIRE and Money 27 08-11-2010 08:51 PM
NYTimes: Banking issues for Expats walkinwood Life after FIRE 19 04-26-2010 07:09 PM
Zero Liability Online Banking RonBoyd FIRE and Money 2 11-29-2009 10:18 AM
"Online Banking Guarantee" Retire Soon FIRE and Money 3 10-27-2007 01:33 AM

» Quick Links

 
All times are GMT -6. The time now is 12:49 AM.
 
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2020, vBulletin Solutions, Inc.
×