Have you made the switch to online banking yet? I made the switch myself several years ago and I gotta tell you, I love it. There are many benefits to handling your bank account ^[2] online, many of which your traditional banker won’t admit.

^[3] Let’s face it: dollars are dollars and whether you use them through a bank having a brick and mortar presence or use them through a bank entirely online, dollars are still dollars. What’s funny (or maybe it’s not so funny) is that traditional banks offer many of the same online resources as online banks ^[4], yet their fee structure remains constant.

What is YOUR traditional banker not telling you?

Online banks are cheaper to use

My experience has been that online banking is far less expensive than traditional grounded banks. My PerkStreet ^[5] checking account ^[5] is free to use plus I get tons of rewards and cash back! Their fee structure for everything from stop payments to NSF’s are substantially less expensive than my traditional bank.

Online banks may have better loan rates

That’s been my experience. Whether you’re looking for a mortgage ^[6] or wanting to finance an automobile, there’s a very good chance an online bank can get you a better loan rate.