Is it a good idea to switch to an online bank?

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This topic contains 11 replies, has 6 voices, and was last updated by  bestlife 8 months, 1 week ago.

Is it a good idea to switch to an online bank?

  • goldenrod
    Topics: 1
    Replies: 4

    Yeah they do, they have 1, 2, 3, 4 or 5 year GICs.

    hashbrown
    Topics: 0
    Replies: 7

    One thing about opening an account with an online bank, is that you need to make sure you’re choosing a safe and reliable one. If you’ve never heard of that bank before, it’s probably best to go to a bank you have heard of. This way you’ll be sure that your information and your money are safe.

    I also recommend keeping your account with your local bank, and opening an online savings account so you can make transfers between your two accounts. It’s more convenient than just switching to an online bank with no brick and mortar location.

    bestlife
    Topics: 2
    Replies: 19

    Ok. Well thanks for the tips! I think I’ll go ahead and open a savings account for now, and then I’ll see later about investments. I think I’m going to like using an online bank.

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