Anyone use an online only bank?

[DaLittle B]

So I just closed down my emergency checking account after the hoops to keep it free.The amount of deposits,and how I deposit,what I can do or don't do without getting charged...

I'm looking into some online banks, Capital One 360 Checking,and Bank5 Connect High-Interest Checking Account...

I don't know anyone that uses on online only bank.Most things that sound too good to be true,usually are...

[Phishfan]

Do they have partners that allow free ATM access? I have no experience but that would be a major roadblock for me.

[masterfins]

Like Phish, I choose my bank(s) by location of ATM machines, since I hate paying a fee to use an ATM.  I don't like the idea of taking pics of checks to deposit, etc., especially if someone is doing that with a check I gave them, because then there is a check with my information floating around if the person didn't properly dispose of it.

[Dolphster]

I use Capital One 360 for my Money Market Account, but not for a checking account.  For much the same reason as the others stated.  I don't like paying fees for ATM transactions, etc.

[DaLittle B]

I've been reading reviews through nerdwallet,and a few other random sites.Some offer ATM reimbursement,some use "allpoint" ATM's.

The big downside I seem to be running into most of these is deposits.

My paycheck goes into my main account,for me is going to be an emergency account,I'll add money here and there,but no direct deposits.

[Dolphster]

I've been reading reviews through nerdwallet,and a few other random sites.Some offer ATM reimbursement,some use "allpoint" ATM's.

The big downside I seem to be running into most of these is deposits.

My paycheck goes into my main account,for me is going to be an emergency account,I'll add money here and there,but no direct deposits.

Some are probably more painful than others.  But with my Capital One Money Market account, we use that as essentially our emergency fund and to set aside money every month for larger expenses such as annual property taxes, etc.  My paycheck gets directly deposited into my regular bank account, but I have an automatic transfer set up so that X amount of money moves from my bank account to Capital One every month.  So at least that eliminates the need to remember to go in every month and physically do a transfer of funds.

[CF DolFan]

We use Capital 360 for our disposable income account. We can overdraft up to $165 and it only costs us pennies a day until a deposit is made. At the same time ... we get interest on the account which pretty much offsets those pennies. We can get money from many different ATMs and it waives our fees. I typically do it at 7-11 if I need to.

The only issue I have with it is that there is no place to make an immediate deposit. We have a portion of our check automatically deposited but if we need to add money we have to write a check and make the deposit by phone which takes a couple of days to process. In the whole scheme of things it isn't a big deal.

[Fau Teixeira]

i thought capitalone360 allowed for mobile deposits by taking a picture of the check

[Phishfan]

I think that was what he meant by writing a check and making a deposit by phone.

[CF DolFan]

That is how you do it but it takes time for it to go through. If I need to add cash to Wells Fargo to cover something I just go to a teller and it is available as soon as I make the transaction.

[DaLittle B]

I kept reading the nerdwallet account,and felt like the best one was a credit union in Wisconsin.I remembered Stroke mentioning he used a credit union in a thread ....

I ended up googling local credit unions,called them up asked some questions,leter went and joined...It's local,yet part of the credit union co-op so I can walk into any co-op credit union,and make deposits,etc..(showing them my card) Plus use any of the co-op ATMs with no charge...I have a few credit unions blocks from my house,and the one I joined is close to my house also...

I got too nervous with the "online banks" with my life not being mobile enough...(I don't like the idea of doing so much on my phone)

I was shocked at the...Nope....No fee...Nope...no worries...the laid backness?    of it all...

[Phishfan]

Good deal. I was going to suggest a credit union but I have not been part of one in twenty years so I wasn't sure.