Mobile Banking - August 3rd 2022
Updated: Sep 1, 2022
There is really no need for anyone to physically go to the bank these days. Mobile banking is here to stay and offers the same features compared to any brick and mortar location... including 2 days advance deposit on scheduled direct deposits, check deposit using your phone camera app and much more and all protected under FDIC rules.
Most of these banks don't have fees.
The app sometime needs some work on the accessibility side... but a simple inversion of your screen can make the app totally useable for people with low vision. For example Ally, Capital One are among the most accessible if you invert your screen when using their apps. On the other side SoFi needs some serious work.
Another advantage of these banks is that they offer terrific saving rates compared to traditional banks. let's look at those rates as of today august 3rd 2022.
Ally - 1.4 percent APY
Discover - 1.5 percent
Betterment - 1.6 percent
Capital One - 1.4 percent.
Tmobile money - 4 percent on first 3000 dollars then 1.5 percent for anything above.
I rarely use cash but those banks allow for withdrawal on any ATMs (check with age bank first). Even if the ATM you are using isn't on the bank's own network, your ATM fee will be reimbursed to you automatically.
Some ATMs even allow for cash deposit ! Check out with the bank or wander around their apps. Ally for example has a map giving you the closest ATM around based on your current location... including information if the ATM allows for cash or check deposit.
Don't waste your money on fees and don't waste your time with Bank of America or Chase offering saving rates of 0.02 percent... For some of us, even an additional 10 or 20 bucks a months can save us some sleep at night.
. Plus... no need to walk or use public transportations to get to the bank.
Are you using one of these online banks with terrific saving rates ? comment below and share with us.