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Consider taking your banking business online!


1. Earn more interest

2. No Fees

3. Access to budgeting assistance

4. Early Payday

5. No Overdraft Fees

I went to open a new business checking account last week. My major money center bank checking account was costing me $27.00 per month, so it was time for a change. I went to my local friendly credit union to open a low fee business account, and the staff met me with bureaucratic mumbo jumbo. I immediately drove home, searched online and found a highly rated business online bank called NOVO. Easy to apply, get approved and easy to fund. I would recommend them if you need a free online business checking account.

That got me thinking! I bet there are great online banks for personal accounts. With bank apps on our phones, it is no longer necessary for a brick and mortar location. For better, for worse, you can bank completely online. I did a little research for you and found a few online banking possibilities. These accounts do not cost you anything. There are no monthly fees and many offer an early pay day with direct deposit. Most have Zero overdraft or NSF fees. All come with a handy debit card. Discover offers cash back if you spend over $3,000 per month on purchases. Many of these apps help you to budget.

1. Chime

Online bank account drawbacks

1. Cash deposits are more difficult. It is possible, but you will have to use your account debit card at an ATM that accepts deposits for your bank. If you are regularly depositing cash, an online account may not be the best plan.

2. You will not have face-to-face customer service. Online banks offer customer service via toll free number. The above mentioned companies have good customer service reputations, but are you comfortable with call center only customer care?

3. Make sure the computer you are using for banking is running up-to-date malware and antivirus software. Having your personal computer hacked and your bank account compromised is a possibility. However, that is no different with the online portion associated with a traditional checking account.

When you decide to open a new online bank account, let me know what you think about it!






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