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Banking online has a lot of benefits.
You don't have to remember to pay your bills, you can help save the earth, and you can save money on your utilities.
About.com adds their 7 frugal benefits of online banking.
- Higher Interest Rates
Currently, FNBO is offering a 6% APY on their new online savings account. I use E-Loan and their 5.25% APY account. - Auto-drafts
I just set up automatic deposits into another online savings account (with HSBC) earmarked for a housing fund. The money goes in without any work on my part. - No fees
It's one of the top 10 reasons you should open an online savings account. - No Minimums
That's another top 10 reason. - Le s Access
This is more of a forced savings benefit. If you need forced incentives to start saving, try looking for hidden cash in your budget. - Sales
HSBC had the first 6% promo earlier this year and FNBO is doing the same now. - Incentives
Citibank is currently offering a $50 bonus for opening an Ultimate Online Savings Account and ING always offers $25 free when you open an account with $250.
And awesome that you guys are in the DC area as well! I ...
Another way online banking can save you money is that you can access your account without paying for gas (transportation) or postage stamps, both of which have come up in prices lately!
[...] The Online Savings Blog details 7 Frugal Benefits of Online Banking- good post, but misses an obvious point- no postage costs (saves me $50/year) [...]
Festival of Frugality: 3 Fun Picks…
This week's Festival of Frugality is up over at FinanceisPersonal. There were 40 entries posted for this week's festival, but certain ones really stick out to me. Here are my three picks to help you usher in the weekend along……