In many cases, too, you can access and deposit your money through any ATM with no additional charge. To begin with, you are expected to handle all the paperwork that goes with transactions. That means that it's your job to set up the account, fill out loan application forms, and so forth. You won't know your banker or your teller personally, and you may not have the opportunity to chat about options with someone who knows you and your circumstances. While most online banks do have 800 numbers to call for service, others prefer that you communicate largely by e-mail.
Some people are also concerned about security on the Internet.
Encryption technology is steadily improving, and security is far less of an issue than it was, however someone could hack their way into your bank's virtual vault. Before selecting an online bank, you should review the bank's security system. It's important to feel that your money is in a safe place. If you are a person who enjoys chatting with your teller and maintaining a personal relationship with the local bank manager, then online banking could be a bad choice. On the other hand, if you're a person with little free time, who feels comfortable with a PC and the World Wide Web, online banking may be a real time and energy saver.