Banks like Ally or Netbank?
I’ve been thinking about transferring some funds from my savings account of my current bank (earning 0.05%-0.2% interest) to one that may offer 1%+. Are they legitimately trustworthy even though there are no physical locations?
Well, there are physical locations, just not local branches. There is no more reason to be concerned using an FDIC insured bank which is remotely located than physically closer banks. Just do your due dilligence, as you should with any bank.
Savings account returns are abysmal right now anyway, though. I mean, if you have 10k to move, you’re basically going to go through all this for maybe 60-70 bucks in a year. Up to you to decide whether that’s worth it, and don’t forget to include any related fees in your figures.
Yeah, I recommend, i used “turbochecking” but they got bought out after the economy crash. Even after that, I got my moneys back. They were FDIC approved so I was pretty safe.
The high yield checking account was pretty good but I was too lazy to do 13 transactions a month so I just checked my money out.
no, but I’ve thought about it.