The list of features that come with an online banking account varies from bank to bank. In fact, even though it may be called it a "checking account" it's possible for a bank to not offer you paper checks at all. So when you're looking to open an online checking account, it pays to investigate and look for the benefits that are most important to you. Some checking account features give you additional value and convenience, which could be seen as a kind of "boost" on top of the interest earned in the account. After all, if time really is money, a checking account that saves you both can be quite useful indeed.
For example, online bank accounts, like the Ally Bank Interest Checking Account, offer no monthly maintenance fees, no minimum balance to open, a free Debit MasterCard®, free standard checks and unlimited check writing, and no ATM fees from Ally Bank. We will even reimburse the ATM fees other banks charge nationwide. Plus, with services like free online bill payment, you can avoid the cost of postage and envelopes.
Overall, you should factor such financial benefits into your calculations when assessing interest checking compared to savings accounts. In a recent interview with Ally Bank, Wayne Blanchard, a certified financial planner with the Garrett Planning Network in Orlando, Florida, said, "Interest may currently be low on these accounts, but you might get these other perks. So, you are 'earning' from the account in a different way," in addition to the interest.
Online bank accounts like the Ally Bank Interest Checking Account are safe, funds are FDIC-insured and, as Andrew J. Feldman, president and founder of A.J. Financial in Chicago pointed out in a recent interview with Ally Bank, "They pay you some interest. After all, you want all your money to work as hard as it can, wherever it's at." Open your online Interest Checking Account today by visiting us at Allybank.com or by calling us anytime, 24/7 at 877-247-ALLY (2559).