Magazine article Working Mother

Best Bets: Online Banks

Magazine article Working Mother

Best Bets: Online Banks

Article excerpt

You probably rarely set foot inside your bank branch these days-too busy, and no need anyway. If you already do most of your banking online and are looking for lower fees, you might consider switching to a fully online bank (with no brick-and-mortar locations). Our top choices:

Ally Bank (ally.com)

Financial magazine Kiplinger and GOBankingRates (gobankingrates.com) both give this bank their highest rating for people looking for a "do-it-all" online bank. A few of its finest features:

* Refundable ATM charges Ally will pay you back up to $10 per statement cycle.

* Lots of account choices You can sign up for a checking, savings or money-market account, get a debit card, put money into high-interest-earning CDs, and apply for a credit card (no annual fee, up to 2 percent cash back on certain purchases).

* Bonuses Ally also offers IRAs and even vehicle financing.

Bank5 Connect (bank5connect.com)

Named by GOBankingRates as one of the best online banks in 2016. Features include:

* Checking rates Interest-bearing checking accounts pay a generous 0.76 percent annual percentage yield (APY), with no monthly fees.

* Refundable ATM charges Bank5 reimburses up to $15 per statement cycle. …

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