2HOTinPHX
Full time employment: Posting here.
We currently use local branch of one the traditional big banks for checking and savings and payroll deposits. Its been kinda of a security blanket for me knowing they are there and if any issues come up we can walk in there and talk to someone face to face. As you know the interest rates the grace us with are pitiful, like we should be grateful they let us keep our money with them rather than a tin can in the backyard....
We have done some online banking as far as some mortgages refi's, car loans and CD's back in the day and no bad experiences I can think of. Just worried about the whole Online banking thing in these days of cyber security risk. Not really comfortable with using phones apps for some reason for banking. Prefer to be able to sit down at home on the computer when banking needs arise. Is one safer than the other? We do use our computers for online access to our current bank for banking stuff and have had no real issues.
So thinking if we should embrace the online bank experience of higher rates. Looking at Online banks websites and Ally seems to offer a one stop shop for our cash reserve bucket. I am thinking of a checking account that pays a little interest .10%, savings account that pays 1.0% and maybe a Short term CD latter in the 1% to 2% range which is all better than the big banks is paying us now. They are not offering the highest rates and have read they have been a little slow to updates but their website seems to be well laid out and plenty of options to chose from for one stop shop.
Please share your thoughts on above and experience with Online banking.
Are you all in on Online banking? Do have multiple accounts at multiple banks and others? Other options?
We have done some online banking as far as some mortgages refi's, car loans and CD's back in the day and no bad experiences I can think of. Just worried about the whole Online banking thing in these days of cyber security risk. Not really comfortable with using phones apps for some reason for banking. Prefer to be able to sit down at home on the computer when banking needs arise. Is one safer than the other? We do use our computers for online access to our current bank for banking stuff and have had no real issues.
So thinking if we should embrace the online bank experience of higher rates. Looking at Online banks websites and Ally seems to offer a one stop shop for our cash reserve bucket. I am thinking of a checking account that pays a little interest .10%, savings account that pays 1.0% and maybe a Short term CD latter in the 1% to 2% range which is all better than the big banks is paying us now. They are not offering the highest rates and have read they have been a little slow to updates but their website seems to be well laid out and plenty of options to chose from for one stop shop.
Please share your thoughts on above and experience with Online banking.
Are you all in on Online banking? Do have multiple accounts at multiple banks and others? Other options?