Saving online?

kristoforo636 · Apprentice Joined: 03 Jul 2010 Posts: 1

I heard about some people saving online. I'm thinking about the same but I'm not sure if I should do it. Is there any difference from regular savings accounts? What are the conditions and rates? What companies offer this service? What would I get by saving online? Thanks for any information!

josiah741 · Apprentice Joined: 17 Sep 2007 Posts: 1

Saving on-line is a popular thing in this Internet age. Now you can apply for savings account on-line and use other financial services. Competition is tight, so I recommend informing on-line about conditions. Interests vary, and also do requirements for regular saving. Rates are given for high amounts, so if you're not planning to invest large sum your rate would be lower. Banks with good reputation have competitive conditions and rates are about 6 percent, depending on a bank. There are also differences in other services, some offer a wide range of services and other have limitations. Difference from regular savings is availability and rates are also higher. This is because banks are trying to expand the on-line financial market. You can access your account 24 hours a day and make some on-line actions like withdrawals, transfers and payment.