Most Internet accounts pay interest, too. Internet banks don't require customers to park their life savings in their checking accounts to avoid fees either. At the same time, online banks have raised their fee thresholds considerably. That suggests online banks are starting to resemble their offline competitors. Some 46 percent of online accounts are completely free of service charges, vs. only 7.1 percent of offline ones.
Online banks make it cheaper for people to access their money electronically, too.
Only 11 percent of the Internet banks surveyed charge customers to use another institution's ATMs, compared with 88 percent of offline banks. More Internet banks are reimbursing customers for other banks' surcharges as well. Sixty-four percent cover such charges now, up from 58 percent six months ago. U.S. Highway 1, North Palm Beach, Fl. Bankrate Inc. all rights reserved.