There is no reason to fear online banks and internet bank accounts.  Banks that offer CDs and savings accounts online often offer very competitive rates.  Online-only banks often offer some of the best CD rates nationally.  They have lower overhead than the brick-and-mortar banks so they can pass the savings on to you.  Security measures with these banks have tried and tested without fail.  If you need to start slowly, open one account without closing your existing account until you develop a comfort level for this style of banking.  These banks and bank accounts are not for everyone but to ignore their existence due to fear of security or the unknown should not be one of the reasons to bypass these financial institutions.

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