Where possible, yes – you can save on fees and access great interest rates with an online savings account. Specifically, overheads that you may incur by visiting a branch and receiving assistance from a staff member at your financial institution, likely to be around $2.50, will no longer be applicable if you stick to an online-run account. This may not be possible for everyone, though, so it’s still good to open your high interest savings account however you feel comfortable.