Online checking accounts are designed to offer consumers simple and easy checking options combined with a higher rate of return than is generally available with traditional checking accounts. While there are numerous advantages to online checking accounts including higher interest rates, they also have some drawbacks. The biggest drawbacks to an online checking account are the lack of additional services and personalized customer service.
Online checking accounts are simply a good tool for paying bills, managing expenditures and maximizing your rate of return on your funds used to pay monthly bills. Before using one of these accounts, you need to shop and compare the best online checking accounts available since not all online checking accounts are created equal. Checking account rates will vary as well as the checking account fees and service provided.
Flagstar Direct Express Checking Account
The Flagstar Direct Express checking account has no monthly maintenance fees. The checking account can be opened with a minimum of $1.00.
The checking account from Flagstar currently offers an interest rate of 0.85 percent on all balances.
The Flagstar Direct Express checking account is now offering a bonus interest rate of 1.00 percent for new accounts. The 1.00 percent bonus interest rate is applied to balances for the first four months. At the end of the four month bonus interest rate period, the account rate will revert to the current posted variable interest rate.
The checking account offers unlimited check writing and free checks for life paid for by Flagstar. Unlimited no fee access to over 40,000 ATMs in the Flagstar, Allpoint® and Presto!® networks. A transaction fee may be charged for using a non Flagstar Bank ATM. The account has free online banking allowing around the clock account access with free transfers and bill pay services.
The checking account at Flagstar can be opened by phone or mail. The contact number for Flagstar Direct is 800-642-0039.
Flagstar Direct is the online division of Flagstar Bank. Flagstar Bank has approximately 160 banking centers in Michigan, Indiana and Georgia.
Ally Bank Interest Checking Account
The Ally Bank interest checking account starts off with no minimum balance requirement and no required opening deposit.
The variable rate checking account earns a rate of 0.50 percent for balances less than $15,000.00 and 0.90 on balances of $15,000.00 or more.
There are no monthly maintenance fees with the account. The checking account comes with free online banking and bill pay services. The account also offers a free debit MasterCard®, free standard checks and unlimited check writing (there are no limits on the number you can write). There are no ATM fees; Ally Bank has no ATM fees and the bank reimburses ATM fees from other banks each checking account cycle.
Ally Bank customer service is available at 877-247-2559.
EverBank Yield Pledge Checking Account
EverBank’s checking account offers an interest rate of 0.61 percent on balances of $10,000 to $24,999.00 and rate of 0.51 percent on balances below $9,999.00. Higher rates of return are offered on larger balances as well.
This is a tiered, variable rate, interest earning checking account. The checking account has a required minimum opening deposit of $1,500.00. There is no monthly maintenance fee. If the checking account balances goes under $5,000.00 there is a fee for the optional online bill pay feature, otherwise that feature is free. EverBank also reimburse accountholders for ATM charges. Per the bank’s website: EverBank will automatically reimburse non-EverBank charges on U.S. ATM transactions during any month that you maintain a minimum average daily balance of at least $5,000.00. The account also offers free check writing and a free debit card.
EverBank customer service is available at 888-882-3837.
First Internet Bank Interest Checking Account
The First Internet Bank interest checking account has a minimum $100.00 opening deposit and pays interest on balances of $500.00 or higher. The current interest rate on the First Internet Bank interest checking account is 0.71 percent.
There is no monthly maintenance unless the balance on the account falls under $500.00. Checking account holders that have a balance under $500.00 will be charged a $10.00 monthly maintenance fee. Online banking and bill pay is free. First Internet Bank reimburses ATM fees up to $6.00 per month.
First Internet Bank customer service can be reached at 888-873-3424
Aurora Bank Checking Account
The Aurora Bank checking account has minimum opening deposit of $1,000.00. The account also requires that you maintain a minimum $1,000.00 average balance to earn interest on the account. If the checking account falls below the minimum balance, there is a $5.00 monthly maintenance fee otherwise there is no monthly fee.
The current interest rate on the account is 0.83 percent for balances of $1,000.00 or greater.
The checking account offers standard check writing, check card purchases, electronic transfers, online banking and direct deposit. Overdraft protection is available with the account. Aurora Bank is a member of the STAR® network of ATMs.
Aurora Bank customer service is at 1-888-522-9295 if you need assistance.
Century Bank Direct Checking Account
The interest earning online checking from Century Bank Direct has no minimum balance requirement. There is an opening deposit requirement of $100.00.
The Century Bank Direct checking account currently earns 0.64 percent on balances up to $50,000.00.
The checking account offers unlimited check writing, a monthly e-statement, and a VISA© Check Card or debit card. Century Bank Direct will refund up to five ATM surcharges each month. The first order of 50 checks is free. The account also has free online banking.
Century Bank Direct is a division of Century Bank of Kentucky. The customer service center can be reached at 877-444-2259.
Bank of Internet High Interest Checking Account
The Bank of Internet High Interest checking account has a $500.00 minimum deposit requirement to open the account. There is no minimum monthly balance requirement but, account holders need to maintain an average daily balance of $5,000.00 in account to avoid monthly service fees. If the balance is under $5,000.00 the fee is $7.50 per month.
The current interest rate on the Bank of Internet High Interest Checking Account is 0.71 percent.
The account has no restrictions on the number of checks written. The Bank of Internet account offers free online banking with free bill-pay, mobile banking, email and text messaging alerts. ATM fees are reimbursed by the bank up to $8.00 per month. The first order of initial checks is free. Overdraft protection is available with the account. A free Debit Visa® card is available with the checking account.
Bank of Internet can be contacted at 877-541-2634.
Ascencia Bank Interest Checking
The Ascencia Bank Interest Checking account has $50.00 initial deposit requirement to open the account. There are no monthly maintenance fees and no minimum balance required once the account is opened.
The current interest rate for the Ascencia Bank Interest Checking account is 0.59 percent on all balances.
The account offers free unlimited online banking and online bill payment. There is a free ATM/Debit card with the account. The account has no restriction on the number of checks written per month. The first 50 checks ordered with the online checking account from Ascencia are free of charge. Money transfer electronically from your accounts at other banks to an Ascencia checking account has no charge.
Ascencia is a division of PBI Bank and is headquartered in Louisville, Ky. The bank can be reached at 877-369-2265.
All online checking accounts listed are variable rate accounts and the interest rate and annual percentage yield may change daily.
The listed online checking account information is deemed to be reliable and timely but is presented without guarantee. Checking account offers are subject to the current terms and conditions of each bank. Review the checking account details before applying for a new account.
Century Bank Direct, a division of Century Bank of Kentucky, offers a high interest online checking account for personal accounts. The current yield on the online checking account is currently at 0.70 percent. The interest bearing online checking account is one of a number of online bank products offered by Century Bank Direct.
The online checking account from Century Bank Direct requires no minimum balance. There is a very low $100.00 opening deposit requirement. All Online checking account holders will receive the posted interest rate for balances from $1.00 to $50,000.00.
The online checking account also offers free online bill pay, the first 50 checks are free and the account has no charge for check writing regardless of the number of checks used per month. In addition, online checking account customers that use the Visa check card will have their first five ATM surcharges refunded by Century Bank Direct every month.
The online checking account from Century Bank Direct provides a secure and convenient way for account holders to manage their finances with the bank’s online banking features that can be accessed anytime with Internet availability. Online checking account holders can access their accounts to view real time checking account balances, transfer funds to and from the account, pay bills online, review your transaction history, see check images and communicate with secure email with the bank customer service personnel.
The Century Bank Direct accounts are all FDIC insured. Century Bank Direct is a division of Century Bank of Kentucky, Inc. which is headquartered in Lawrenceburg, KY.
Along with the online checking account, Century Bank Direct offers high interest rates on the other popular online bank accounts. Century Bank Direct markets a high yield online savings account, an online money market account and several short term online bank CDs.
The current yields for the other online bank accounts online accounts promoted by Century Bank Direct include:
Online savings account interest rate is 0.85 percent.
Online bank money market account rate is 0.95 percent.
5 month CD rate is 0.90 percent.
10 month bank CD rate is 1.15 percent.
15 month CD interest rate is 1.30 percent.
20 month CD interest rate is 1.45 percent.
These bank rates are current as of December 5, 2010 but are subject to change by the bank at anytime. The online checking account, online savings account and online money market accounts are variable rate accounts. The bank CDs are fixed term and fixed interest rate accounts.
To open the online checking account or other online bank accounts with Century Bank Direct, the prospective account holder must be an individual at least 18 years of age, must have a permanent U.S. address that the bank can verify and have a valid U.S. Social Security number.
Century Bank Direct can be reached at 877-444-2259.
Please refer to the bank deals section or the checking account promotions section of this site for additional nationwide and local bank account promotions. For information on online bank savings accounts or online banks please refer best online savings account or best online bank.
With interest rates being the focus for consumers searching for the best checking account, online checking accounts often offer the highest yielding accounts. Incrediblebank.com, a division of River Valley Bank, offers one of the best rates on an online checking account.
The Incredible Checking account is the online checking promoted by Incrediblebank.com. The online checking account is a variable rate account, as are most all interest bearing checking accounts, that currently earns an interest rate of 1.42 percent on all account balances. There is a minimum opening balance requirement of $1,000.00.
The Incrediblebank.com online checking account allows account holders to earn a very competitive interest rate on their finds while using the resources that come with online banking, electronic statements, mobile banking and a bank check card. With Incrediblebank.com’s online banking, account holders have access to their account 24/7 from anywhere with internet access. This account is intended for almost complete online banking use. There are no paper checks with the Incrediblebank.com online checking account.
River Valley Bank is an FDIC insured financial institution. Accounts at Incrediblebank.com are FDIC insured up to the maximum allowable limits of $250,000 per depositor.
The product offering of Incrediblebank.com is rather limited. The Incrediblebank.com site promotes the high yield online checking account and a high yield bank CD unfortunately; the bank CD is no longer open to new accounts.
Selectcddrates.com offers timely information and reviews on online checking accounts including the Incrediblebank.com online checking account, however the accuracy of the information is not guaranteed and the rates and terms are subject to change. Incrediblebank.com may terminate or change this offer at any time. Additional terms and conditions may apply. Please verify the current term and conditions before applying for a new bank account.
Please refer to the bank deals section or the checking account promotions section of this site for additional nationwide and local bank account deals. For information on online bank savings accounts or online banks please refer best online savings account or best online bank.
For consumers that carry a significant balance in their checking account, switching to an online checking account may provide a much greater return on their money. One online checking account available nationwide that offers above average interest rates comes from Nationwide Bank.
Nationwide Bank is a federally chartered savings bank and is a member FDIC. Nationwide Bank is part of the Nationwide family of businesses which is one of the largest insurance and financial services companies in the nation.
The Nationwide Interest Checking account is an online checking account that offers account holders attractive rates along with a variety of other checking options. Interest is earned for all balances held in the account.
There is only a $50.00 minimum deposit required to open the Nationwide Bank online checking account. The account earns interest based on a tiered balance structure, interest rates increase as the balance increases. There is a $10.00 monthly maintenance fee for account holders that have an average balance less than $3,000.00, for checking account balances greater than $3,000.00 there is no fee.
The checking account comes with Nationwide Banks free online banking and bill payment services. Account overdraft protection is available with a linked savings account. The Nationwide online savings account is currently paying an interest rate of 0.50% with a low minimum opening balance of $50.00 and no monthly service fees.
The online checking account allows access to more than 37,000 Allpoint surcharge free ATMs and 400,000 Visa®/PLUS ATMs. The account also allows for six free non-Nationwide Bank ATM transactions per month.
Banking transactions can be conducted online, at an ATM, over the phone or by mail.
The checking account provides free online account statements detailing monthly activity as well as paper statements that are available at no additional cost.
Nationwide Bank offers online checking accounts, savings accounts, money market account and high yielding CD accounts. The bank is headquartered in Columbus, Ohio.
Selectcdrates.com provides the information on the Nationwide Bank online checking account as well as other online checking account reviews and resources to help consumers choose the best checking account to fit their needs.
The online checking account review is believed to be accurate as of this publication date; however the rates and terms are subject to change. All bank products and services are subject to bank and credit approval.
For more information about the checking account rates, fees, other costs, and benefits associated with this account, see the application for details about terms and conditions.