Where the deals are Online accounts blow the competition away in just about every category. But the real advantage to online accounts, at least for everyday consumers without six-figure salaries, is their fee structure. So much for George Bailey. Even when online holders do get stuck paying fees, they pay less. It should be noted it's much easier to avoid that charge too.
Online banks make it much cheaper for customers to get at their money electronically too.
Only 8 percent of offline banks allow account holders to make withdrawals at ATMs they don't own without charging a fee, where as 88 percent of online ones do. A majority of the Web banks reimburses customers for surcharges assessed by ATM owners too. That allows customers to get cash back at drug stores, grocery chains and other places without paying a cent. Only 83 percent of traditional institutions offer the service free. Customers willing to do business with Web-based banks are far and away better off.