Online Banks: Buying GuideStandard fare at Internet Banks include such services at balance inquiries, account transfers and bill payment. At some banks you can also get recent statements and even view canceled checks. Before you sign-up with an Internet bank, you should check their customer service policies. We have a few suggestions to help you pick out an Internet bank:
Watch out for ATM fees. In many areas, many banks charge non-customers $1.00 or $1.50 to use their ATMs. If the ATMs that you are most likely to visit have these surcharges, it's probably worthwhile to open your account at that bank. Some online banks though offer to pay ATM fees up to a certain amount each month. Citibank is one such online bank.
Pay attention to customer service. Can you call a customer service agent toll-free? How quickly do they respond to e-mail?
Many more banks offer online banking which is different from Internet banking because it operates on proprietary dial-up networks. Also, these services usually work in conjunction with personal financial packages such as Quicken or Microsoft Money. Information on these networks is not transmitted over the Internet, providing an extra level of security, but at the same times less convenient because you cannot access your account without the software package and their dial-up network.