Correct as of 12/12/2018. Promotions subject to change without notification.
There has never been a better time to open a free online checking account. Many online banking establishments are offering massive cash bonuses to new customers just for opening an account online. The reality is that traditional brick-and-mortar bank branches are unnecessary for most of us. With smartphone apps, you can now manage your balances, pay your bills, and deposit checks with a simple swipe of your finger. Let’s take a look at all the perks that an online checking account can offer.
Although not offered by all banks, a high number of online checking account providers have done away with monthly fees and minimum account balances. Even though traditional banks may have reduced their fees, at the end of the day this is a reoccurring cost that you don’t have to pay. Why pay a bank to hold your money when they are making money from it in the first place!
To sweeten the deal, many online checking providers have 100% free ATM withdrawals and will reimburse you for any fees you might incur domestically or abroad if you are charged for taking out money. Many people unknowingly spend hundreds of dollars each year on these types of fees. Stop throwing your hard-earned money away.
Those $35 overdraft fees may be a thing of the past. Everyone at some point has experienced going over their balance by just a few dollars and felt the frustration of being hit with staggeringly high fees. Now you can say goodbye to bank fees and penalties. Overdraft protection is becoming a standard feature provided by many online checking account providers.
Mobile apps have made it easier to check your account balances and monitor account transactions in real time. Most online checking accounts and their associated apps have intuitive dashboards that provide you with all of the most important banking elements in a user-friendly summary screen. Instead of going through a desktop computer to manage your money and accounts, you can now do it straight through the app, such as online bill paying and account-to-account transfers.
If you are like everybody else, you have a whole slew of passwords for different sites. As a result, you probably have trouble remembering your password from time to time. Fortunately, technology has found a way to make password management simple and easy. Many online checking account providers have applications that allow you to log in to their app with your supported iOS and Android device’s fingerprint or facial recognition abilities. Convenience with increased security – sounds like a win-win!
Have you ever forgotten your wallet on your way to a restaurant or a night out with friends? This can make for an awkward moment when it is time to settle your bill at the end of the evening! The good news is that Samsung Pay and Apple Pay provide you with additional ways to pay as more and more merchants allow you to pay with your phone. It is extremely simple and easy to connect your bank account to Samsung Pay and Apple Pay. Once completed, paying your bill is as easy as holding your phone near the credit card terminal in conjunction with a passcode or biometric input like your thumbprint.
With many new mobile applications provided with online checking accounts, managing your card accounts has become as simple as a “click.” Mobile applications now allow you to freeze, replace, or report your debit or credit card lost or stolen. Additionally, you can set spending limits and choose to have spending notifications delivered directly to you. Ultimately this is more convenient than having to log in to a desktop banking portal and can be done 24/7 from anywhere in the world where you have internet access.
In conclusion, there are so many reasons for the majority of us to open an online checking account. It is convenient, secure, and could potentially save you hundreds of dollars in fees on an annual basis. In addition, these types of checking accounts leverage some of the latest technologies which make managing your funds, paying bills, paying friends, and preventing fraud easier than ever before. Moving away from something familiar that exists in the physical world can be a scary proposition for many, but your money is still stored electronically whether you use an online banking provider or go to a physical location. So do yourself a favor and make your life a bit easier by cutting out the middleman.
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