Savings Account Online Guide

Helping you get the most out of your Online Savings Accounts!





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Are There Any Online Savings Account Banking Fees?

How Do Online Savings Accounts Work? Menu
  1. What is an Online Savings Account?
  2. Online Savings Accounts vs. Traditional Savings Accounts
  3. What's the Difference between a Money Market Account and an Savings Account Online?
  4. Why do Online Savings Accounts Offer Better Rates?
  5. 10 Easy Tips for Choosing an Online Bank
  6. What is the difference between stating the rate as APY vs. APR?
  7. What is a Minimum?
  8. How Much Money Should I Have In A Savings Account?
  9. How To Signup For An Online Savings Account
  10. How To Manage Your Online Savings Account
  11. How Does The Fed Rate Affect All Other Rates?
  12. When Should I Switch My Money To CD?
  13. Setting Up Online Bill Pay
  14. Using An Online Bank Without Ever Going Online
  15. How Does FDIC Insurance Work With Online Banking?
  16. How Do I Make Deposits To My Savings Account Online?
  17. How Do I Make Withdrawals?
  18. Are There Any Online Banking Fees?
  19. Can I Access My Money Through An ATM?
  20. How Does Customer Support Work With Online Banks?
  21. What Does Completely Online Mean?
  22. How Do I Create a Savings Plan For Myself?

Signing up for an account, electronic fund transfers (up to 6 a month; in most cases), and online bill pay all usually come standard with online savings accounts.

I just took a survey of the top 20 online banks to answer this one.

There are only three reasons you would have to pay a fee:

1. Either you want to make a one time wire transfer (which most online savings account providers don't allow anyway)

2. You go over the maximum six account withdrawls in a month.

3. Your printer is broke and you want a printed statement mailed to you.

Here is an average of what I'm seeing on the cost of these fees:

Domestic Wire Transfers: $22.00

International Wire Transfers: $35.00

Over the maximum 6 account withdrawls per month: $5.00 per withdrawl after

Having a printed statement mailed to you: $5.00

Also, don't forget about ATM fees, if your bank doesn't offer ATM rebates.



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