10 Best Online Banking Accounts

Online banking can offer you the possibility to manage your bank account fast and easily. It allows you to check your personal or business account balance, make payments, put money aside in your saving account, and plenty more without having to go to the nearest bank branch. Learn the basic things you should know about internet banking if this technology is new to you.

Online banking or internet banking services offer you virtual access to your bank account. Before internet banking became available, people used to go to the bank or an ATM for different reasons such as checking their balance, depositing, or transferring money. These operations can now be carried out faster and easier through online banking.

This modern technology allows you to access your bank account at any time from any device (laptop, tablet, or mobile) that has an internet connection. You no longer need to go to the bank for a simple balance check as you can verify your account’s balance from the comfort of your home in as little as 1-2 minutes.

To access internet banking services, you first need to have an account at a bank that offers this option. Then, just as you do when you create an account for an online app or a website, you need to create your online bank account and choose your login credentials. This means creating a username and a password you will use each time you want to access your bank account over the internet. Because this is highly sensitive information that can enable others to gain access to your money, it is recommended not to share your online banking login details. 

Internet banking services can be accessed over the internet by using a browser such as Chrome or Internet Explorer. To make this option even more accessible, many banks also offer mobile applications for their online banking service. Just like any other mobile application, to be able to use a banking app, you first need to download and install it on your smartphone. Then, use your credentials to log into your account and access the same options and functions as you would from your laptop using the browser version.

Most traditional banks and credit unions offer this type of service nowadays to allow their clients to manage their finances easier. There are different activities you can carry out from your online banking account:

• check your balance
• transfer money to another bank account
• transfer money to your saving account or your checking account through intrabank transfers
• make recurrent payments automatically
• pay your bills
• apply for a loan
• open a new saving account, checking account, and other types of accounts
• deposit checks
• get bank statements for the previous months 
• verify completed or pending transactions

Online banking is no novelty. However, if you haven’t been using this service until now, you might not be aware of its advantages. Here are some of the main benefits you can gain by using internet banking instead of in-person banking when possible:

• online banking is available 24/7; you can log into your account to check your balance or make a transfer at any time
• transfers can be carried out instantly if the person you have to send or receive money from also has an account at the same bank
• you save time and money as you no longer have to go to the bank for basic information you can access online
• it’s easier and faster to complete different operations without the hassle of printing and signing any documents
• you can use this service for any type of account (personal or business account, checking account, or saving account)
• it’s easy to check past transactions by filtering them according to the name of the person or company who sent or received money, date, or type of transaction (e.g. bank card payment) 
• you can even apply for a loan through online banking; decisions are usually made immediately, and the amount will be deposited into your account directly
• it’s also possible to apply for a new debit card or order checks in as little as a few minutes
• to deposit a check, you no longer need to mail it; through internet banking, you just have to take a photo of the check using your smartphone and submit it through your bank’s mobile app
• it can take less than a minute to cancel a scheduled transaction for outstanding checks or a due withdrawal
• if you have to make recurrent payments for utilities, subscriptions, or credit cards, you can automatically schedule them from your online banking account - specify the dates and amounts, and save time as you stop making these payments manually
• you enjoy full control of your bank account as you’re able to check your balance and transactions at any time
• your bank automatically notifies you in case someone else tries to access your account or logs into your account from a new device

The only major disadvantage of this service is that it can’t enable you to withdraw cash, so you still have to go to an ATM or your bank to do this.

Saving Account:

An online banking saving account is a secure and convenient way for individuals to save money and earn interest on their deposits. Operating entirely through online platforms, these accounts offer easy access to funds while eliminating the need to visit physical bank branches. With features such as online transfers, mobile banking, and automatic savings plans, customers can efficiently manage their savings from the comfort of their homes. Online saving accounts often come with competitive interest rates, allowing account holders to grow their savings over time. Additionally, many banks provide FDIC insurance to ensure the safety of deposited funds up to the specified limit. This type of account is ideal for those seeking flexibility, higher interest rates, and user-friendly banking experience.

Checking Account:

Online banking checking accounts are designed to facilitate everyday financial transactions and provide easy access to funds through digital channels. These accounts offer a range of features, including online bill payments, mobile check deposits, and real-time transaction monitoring. Account holders can make purchases with a linked debit card, transfer funds to other accounts, and manage their finances efficiently using online tools and applications. The convenience of online banking allows customers to check their balances, review transaction history, and receive alerts on their devices. With the added benefit of FDIC insurance, online banking checking accounts offer a safe and modern banking solution for individuals who prefer the flexibility of digital banking services.

Business Checking Account:

A business checking account is a crucial financial tool for entrepreneurs and business owners to manage their company's finances effectively. This type of account is tailored to meet the unique needs of businesses, offering features such as check-writing, debit cards, and electronic payment options. Business owners can deposit payments from customers, pay suppliers, and cover operating expenses through their checking accounts. Some banks may provide additional business-specific services, such as payroll processing, merchant services, and financial advisory assistance. While brick-and-mortar banks offer branch access and in-person customer service, online business checking accounts have become increasingly popular for their lower fees and convenient digital tools. Business checking accounts are essential for maintaining financial organization, separating personal and business finances, and ensuring smooth day-to-day operations for businesses of all sizes.

Online banking offers a safe and convenient way to manage your bank account. The banks that offer this service use the latest technologies to secure their websites and their clients’ data. However, as a client, it’s your responsibility to adopt proper security measures to prevent anyone else from accessing your bank account. Here are a few basic security rules you should follow:

• don’t let anyone know your online bank account credentials and keep them somewhere safe
• only access your online bank account from a safe internet network that’s password-protected

enable 2-factor authentication on your account; this security measure involves using a unique code you receive by phone or email in order to authorize and complete online transfers

Online banking is an extremely convenient method to check your finances and make payments at any time of day or night. Safe, fast, and intuitive, this service can streamline your bank transactions and help you save time and money.