LOS ANGELES, Jan. 7, 2014 /PRNewswire/ -- More than half of Americans now bank online1, and for those who are looking to switch to a better bank account – or make the jump to online banking for the first time – GOBankingRates has ranked the best savings accounts offered by online-only banks in 2014.
LEARN MORE about savings accounts at http://www.gobankingrates.com/savings-account/.
"Online banking is where the best value is for consumers," said GOBankingRates managing editor Casey Bond. "Those who haven't opened an online savings account are willingly missing out on the highest interest rates and lowest fees."
Of the 6,830 FDIC-insured financial institutions2, online banks have gained recognition for consistently providing depositors higher yields on balances, fewer fees and superior customer service when compared to their traditional brick-and-mortar counterparts. However, the growing number of online institutions makes choosing the right one increasingly difficult for consumers – a problem that GOBankingRates seeks to solve by releasing its 2014 ranking of the top online savings accounts.
GOBankingRates' Top Ranked Online Savings Accounts of 2014
4. CIT Bank
To see which bank placed No. 1, go to:
About These Rankings
GOBankingRates evaluated regular savings account products from online-only banks, weighing interest rates, convenience, customer service and fees, to determine the five best options for depositors today. Online savings accounts offered by brick-and-mortar institutions were not considered.
1 See "51% of U.S. Adults Bank Online" (August 7, 2013). Available at: http://pewinternet.org/Reports/2013/Online-banking/Findings.aspx
2See"FDIC-Insured Institutions" (January 2, 2014). Available at: http://www2.fdic.gov/IDASP/
GOBankingRates is a personal finance and consumer interest rate website owned by ConsumerTrack, Inc., an online marketing company serving top-tier banks, credit unions, and other financial services organizations.
GOBankingRates.com connects consumers with the best interest rates nationwide on deposit products and loans. The GOBankingRates database aggregates interest rates from more than 4,000 national, local and online financial institutions. Additionally, its editors have been featured on several major media outlets, including U.S. News, Yahoo! Finance, Forbes, The Street, and more. All banks listed in this ranking are clients of ConsumerTrack, Inc., which serves more than 100 national, local and online financial institutions.