Online banks pass the money they save on overhead like buildings and tellers along to you in the form of higher yields, lower fees and more generous account thresholds.
ONLINE SAVINGS: ONE SIZE FITS ALL?
Possibly more than any other financial product, online, high-yield savings accounts are frequently viewed as interchangeable commodities -- this despite the fact that a college graduate in his or her 20's is very likely to have different savings account needs than an affluent 50-year-old executive.Online Savings Comparision Contd......
The major disadvantage of Online Virtual banks revolves around ATMs. Because they have no ATM machines, Online banks typically charge the same surcharge that your brick-and-mortar bank would if you used another bank's automated teller. Likewise, many virtual banks won't accept deposits via ATM; you'll have to either deposit the check by mail or transfer money from another account.
USA Banks Operating in Multiple States
AmSouth Bank - Provides banking services to Alabama, Georgia, Tennessee, and Florida with over 270 locations.
Associated Bank - Financial organization serving Wisconsin, Illinois, and Minnesota
BancWest Corporation - With assets of more than $15 billion, BancWest serves nearly one million households. BancWest has over 200 branches in California, Oregon, Washington, Idaho, Hawaii, Guam and Saipan.
Bank Audi - Commercial bank provides full banking facilities to US and foreign clients.
Bank of America - Created from the merger of BankAmerica and NationsBank, Bank of America provides full-service banking nationwide.
BB and T Corp. - Financial holding company operating banking subsidiaries in the eastern and southern states. Features history, branch locations, investor relations, and employment opportunities.
Central Carolina Bank - A bank holding company whose principal subsidiaries are Central Carolina Bank and Trust Company of Durham, North Carolina and American Federal Bank of Greenville, South Carolina.
Centura - A U.S. bank with more than 210 offices and more than 200 ATMs in North Carolina, South Carolina, and Virginia.
Charter One Bank - Provides financial products and services for both consumers and businesses.
Citibank U.S. - One of the largest full service banks in the world.
Commerce Bank - A financial services bank with over 100 offices throughout New Jersey and Pennsylvania.
Compass Bank - A regional bank with offices in Texas, Alabama and Florida.
First Citizens Bank - Commercial bank with branches in North Carolina and Virginia, and West Virginia.
First Financial Bancorp - Network of banking organizations with 115 locations in Ohio, Indiana, Michigan, and Kentucky.
Firststar Bank - A bank holding company with approximately 1,200 banking offices in Ohio, Wisconsin, Missouri, Kentucky, Iowa, Illinois, Kansas, Indiana, Arkansas, Minnesota, Tennessee, Arizona and Florida.
Fleet Bank - Provides a full range of personal, small business and commercial banking throughout the Northeast.
Harris Bank - Major Chicago-based bank providing retail banking in the Chicago area and corporate banking services to corporations, institutions, non-profit and government entities nationwide.