We’ve seen before that Fox Business is a big fan of online banking and all the benefits that come with it. But a new post by Heather Larson takes a closer look at online savings accounts and the advantages they offer specifically to Baby Boomers.

Two of the big online banking perks that Larson mentions are:

  1. The competitive interest rates that many online banks are able to offer because of their low overhead costs.
  2. The ease of handling your finances on the internet.

For boomers who find themselves traveling a lot or paying extra attention to their finances in the final years before their retirement, it seems like the convenience offered by online banks is a major selling point.

Larson also points out something that we here at Ally have known for a while: some online banks are better than others. She suggests looking for one that offers low- or no- fee banking, an easy to use website, FDIC protection, online security, and account benefits such as minimum transaction amounts that work with your finances.

We’re proud to say our Online Savings Account comes with all of the benefits stated above. We’ve won awards for our online customer service innovations and offer important perks such as FDIC insurance, no monthly maintenance fees and accounts that can be opened with any amount. In addition, over 90% of our customers are pleased with the quality of customer service provided when they call our 24/7 customer service number. With numbers like this, it seems pretty clear that we’re making good on our promise to provide a convenient online banking experience.

Are you a Baby Boomer who enjoys the ease of online banking? What recent banking innovation has you wondering how you ever lived without it?