Unlike traditional banks, most Web-only banks have no ATM networks, which makes it hard for customers to withdraw money without paying a fee. Many of the Web-only banks reimburse some of those ATM fees, but this too is a pain. In most cases, accounts are credited automatically, though NBank and Everbank require their customers to send in their ATM receipts.
Deposits are tougher.
Though you can arrange to have your paychecks electronically transferred into your account, in general, you need to mail in deposits. Big banks offer convenient ATM networks, but most Web-only banks counter with reimbursements. Time Inc. All rights reserved. Reproduction in whole or in part without permission is prohibited. Our Privacy Policy .