Best Online Banks

Ally

Savers love Ally's online savings account, as its intuitive interface makes it easy to fund and manage accounts from a computer or mobile phone. The bank pays an above average interest rate, currently 1.45 percent, and compounds it daily, which makes it a high-octane savings account. The Federal Deposit Insurance Corporation (FDIC) insures this account, and the bank provides high-balance customers with a way to maximize this benefit by spreading savings over multiple accounts. For customers interested in creating a legacy, the online savings account can be set up as part of a trust. Customers may also choose to deposit their checks through the eCheck system, which requires them to take a photograph of the check with a smartphone. Transferring money is also a straightforward process, and can be completed from a home computer, mobile device, or by voice using Amazon Alexa. Customers can also send or request money using Zell, which requires an email address, similar to PayPal. ACH transfers are also available without a fee, and the bank's checking accounts also offer easy bill pay options. To help customers save on ATM fees, customers can use any Allpoint ATM for free and are eligible for up to ten dollars in ATM fee reimbursements per statement cycle.

Continue reading to learn about the online bank named so simply its goal is in the name.