Updated: Sep 7, 2019
We go online for everything. From keeping up with old friends to paying our bills. Having an online savings account is not only a convenience for us, they are also a very smart investment.
There are many online savings account to fit everyone’s needs. Most online savings accounts are FDIC-insured like other bank accounts, which means your money is safe. Some require a minimum to open an account, while others don't.
Did You Know?
The average interest rate offered by a traditional bank is only 0.26%, while online savings accounts can offer you 2.20% APY.
As a customer of Barclays I feel confident referring others to opening an online savings account with them.
Why did I pick Barclays?
- They only require a minimum balance of $1 to open an account.
- The APY for their savings account is 2.20%
- $5 insufficient fund fee, while others can charge around $30 or more.
- $0 Monthly fees
- Barclays is a 325 year old London based account, making them trustworthy.
- Great human based customer service support.
You may think that opening an online savings account may be complicated, but it’s actually like everything online, easy and quick.