Online Checking Accounts

[RainMaker]

I've been a Bank of America customer for a long time (they bought out Lasalle Bank which I originally had the account with). Anyways, I think it's time to move. Their fees have continued to get larger and I just don't come across enough of their ATMs.

I'm wondering if anyone has had any experience with online checking accounts. The one that intrigues me is Schwab. It's all done online, they re-imburse ATM fees, pay a small bit of interest, and I can deposit checks via an iPhone app. Seems perfect in every way.

Has anyone used these and are there any major downsides? I know ING and a few others have them and it seems like it would save me time (not having to go to the bank to deposit checks) and money (no fees, free ATM, interest).

[spleen1015]

We use USAA, which is a bank for former/current military and dependants.

Free checking, they re-imburse ATM fees, free transfers, online bill pay.

You can deposit checks with a scanner or by taking a picture with your iPhone.

It is pretty nice and they have good insurance rates.

[Young Drachma]

E-Trade has been great, save for a lack of actual branches except in a few cities.

[Rizon]

What fees are you paying at BofA?

[RainMaker]

I think it's mainly ATM fees. I get hit for about $2 each time. Ends up being around $12/month. I think I get hit for a $5 fee somewhere else but not sure where it's from. Might be because the account is old and they have me on an old system.

Couple other bonuses are that I don't have to drive there to make a deposit. Despite being in the city, I'm oddly not that close to a bank. So it's a pain to head over there when I rarely drive. And perhaps most importantly, I think Bank of America is a scummy company and would be happy to see my money leave their hands.

[JeeberD]

We use USAA, which is a bank for former/current military and dependants.

Free checking, they re-imburse ATM fees, free transfers, online bill pay.

You can deposit checks with a scanner or by taking a picture with your iPhone.

It is pretty nice and they have good insurance rates.

USAA is awesome...

[Julio Riddols]

Gotta go with USAA if available, or find a credit union, IMO.

[RainMaker]

It seemed like USAA had some extra things that you needed to do to get some of the benefits I was looking for (deposits through scan or picture for instance).

Bumping this up in case anyone else has some feedback.

[cartman]

I would look for one that would allow you to fudge bank statements.

I use Chase, and the account I have I'm not dinged with any ATM fees. They even reimburse up to 3 non-Chase ATM fees per month. I can deposit checks via my iPhone. I even get a small bit of interest each month.

[RainMaker]

Well I ended up going with USAA. Their customer service is absolutely incredible. Don't qualify for their @home or @mobile deposit service, but mailing in checks or uploading them at my already opened Fidelity account should be fine (I deposit one check a month).