Online bank savings account

Yelp / Eng LolRofl
Nov 9, 2018 6 Comments

Any known negatives with keeping money with this online savings bank accounts?

Capital One gives 2% and other banks like Amex, Discover gives 1.88%. Capital one has $1K initial bonus too. What could be the catch compared to Bank of America or other savings bank accounts eg chase or WF? Couldn’t find anything by Googling.

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TOP 6 Comments
  • Microsoft ++
    The only downside is there is no way you can deposit paper cash since they don't have physical branch. You can only online transfer money there or mail them a check, which will take several days to clear.
    Nov 9, 2018 3
    • Capital One / Eng desu
      We have ATMs. Or, you could use another bank's ATMs and pay a little fee if you can't find one... OR... Use Chase for your primary checking account, and use a savings account with C1, and then just do occasional electronic transfers like you normally would.

      Btw, I'm leaving this shit hole for Amazon.
      Last day is the 16th. 😁 No Kool-aid here.

      JP Morgan/Chase has straight horseshit for their savings accounts. Total fucking rip off. I had one for the longest fucking time, and I think their fees were greater than the accrued interest on the account. Capital One really has been pretty solid about zero fees.

      You're probably better off with a money market account or "CD" (Certificate of Deposit) though.
      Nov 9, 2018
    • eBay CEbi00
      What fees are you referring to . Didn’t see any fees deduction in chase checking or saving account
      Nov 9, 2018
    • Capital One / Eng desu
      At Chase, you have to maintain a certain balance in the account or have regular deposits, otherwise you get a fee (a fairly hidden one).

      Kind of besides the point though because their APR wasn't even 0.5% IIRC.
      Nov 10, 2018
  • Snapchat fQgT31
    Schwab has a no fee worldwide ATM card
    Nov 9, 2018 0
  • Cisco / IT vzIq77
    One local credit union (for cash + checks + emergencies) as well as two online accounts (checkings and savings) is my recommendation
    Nov 9, 2018 0

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