Online Banking

At Money & Advice, we suggest you choose an online bank that is FDIC Insured or a Credit Union that is NCUA-Insured. Also, make sure to check the fees, interest rates on offer, network of ATMs, customer service, transparency, and other features to make an informed decision.

The USA’s bank accounts primarily fall into four categories: Checking Accounts, Savings Accounts, Money Market Accounts (MMA), and Certificate of Deposit Accounts (CDs).There are several other account types to cater to customers’ specific financial requirements and objectives, including 401(k) accounts, Individual Retirement Accounts (IRA), Joint Accounts, Trust Accounts, Health Savings Accounts (HAS), Business Accounts, and Student Checking Accounts.

Typically, online banking is considered safe in the USA and used by nearly 200 million users.  However, following safe practices like keeping a strong password, changing passwords frequently, and protecting your personal information online is important.

Determine the account type that’s right for you by taking into account your usage patterns, fees and other charges imposed by the bank, financial goals, interest rates offered, how expansive the ATM network is, and other account features.

Yes, you can open a bank account online in the USA if you’re 18 years or older and are a legal U.S. resident.