Originally Posted by
randomthoughts1875
I've seen a lot of offers for different online banking institutions that offer a much higher interest rate on their savings accounts compared to what my local bank offers. Are these kinds of banks legitimate? Do any of you use them?
I think its best to stick with your brick and mortar institution. It they offer online banking services then use them. A higher interest rate at online banking sites can mean you take a greater risk. Are these online savings sites FDIC insured?