Bank Help

pkafka · #1 (**permalink**) 08-29-2007, 08:35 PM

I am a college student and am opening a checking/hopefully some savings account. I am enticed by the prospect of online only banking but can't discredit the idea of signing up with a brick and click bank.

What would be the benefit (besides interest) of signing up with say ING, E Trade or Egg versus opening an account with say Citi, Bank of America, or WaMu (all of which also offer online services)?

Thanks so much. I look forward to hearing some responses.

-pk

brian · #2 (**permalink**) 09-04-2007, 04:54 PM

Companies such as ING have especially focused on trying to deliver higher interest rates for savings than traditional lenders. So I guess you could say that online banks could offer a more competitive rate on your savings.

However, ING in the UK has been failing to keep up, didn't raise rates when the bank of England did, and basically has been left in a situation
of being overtaken by other lenders now.

Easy To Get Credit Cards · #3 (**permalink**) 11-05-2007, 09:17 AM

B of A is a decent one for "banks".

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