Online banks are full-service banks without any physical branch locations. Does this sound like the right bank for you? Take our quiz and find out!
Founded in 1995, The First Security Network Bank of Kentucky was the first Internet-only bank on the market.
Founded in 1994, the Stanford Federal Credit Union, located in the heart of Silicon Valley, was the first banking institution to offer online account access and services like bill pay.
Nearly two-thirds of all Americans like online banking -- as well as an impressive 57 percent of adults over 55 years old.
Ally has 15 million customers, but as a comparison, Bank of America claims 57 million customers worldwide.
Services at online banks ay be fast, but that fact isn't reflected in the name.
Deposits at most online banks are insured by the FDIC up to the maximum amount: $250,000.
Since online banks don't have physical branch locations, safety deposit boxes are out.
Interest rates from online banks are significantly higher than traditional banks.
That's the current rate for a $5,000 or higher balance on a interest-bearing checking account from Fifth Third Bank.
You've got 100 grand in your account, right?
ING Direct is one of several online banks that make home loans.
Most online banks don't charge maintenance fees, even with low balances. That's not true at most conventional banks.
Since most online banks don't have their own ATM machines, ATM deposits won't work.
Most online banks offer debit cards with the same features as conventional banks, including cash back.
Most online banks offer no-fee ATM use at any ATM in America. Many banks will reimburse customers for fees charged by other banks.
Ally still finances car loans for major American car manufacturers.
ING Group headquarters are in Amsterdam, but ING Direct is based in Delaware, USA.
Lower overhead costs can be passed on to the consumer through lower fees and higher rates.
86 percent have some trepidation, but 57 percent said they were "very concerned," according to a global survey by RSA Security.
Thirty-two percent is significant; U.K. consumers lost the equivalent of $26.2 million dollars due to online banking fraud in the first half of 2011, down considerably from the year before.