Opening a new Checking Account/ Bank of the Internet

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TexMexIndex
Posts: 34
Joined: Wed Mar 28, 2018 12:38 pm

Opening a new Checking Account/ Bank of the Internet

Post by TexMexIndex » Wed Sep 05, 2018 10:35 am

My wife is starting as a contractor and I want to open a separate checking account to help with
allocating money to SS/Medicare, Retirement, etc. I want it all in one place and don't want to get it confused
with bills and such.

Looking online it says Bank of the Internet has the highest interest rate.

The bank name sounds so generic it seems made up, but Im sure it really isnt.

Wanted to see if any of you had experience with this bank.

Is it easy to transfer money from this bank to another US bank or Vanguard?

Recommend? Any tips?

bloom2708
Posts: 6976
Joined: Wed Apr 02, 2014 2:08 pm
Location: Fargo, ND

Re: Opening a new Checking Account/ Bank of the Internet

Post by bloom2708 » Wed Sep 05, 2018 3:01 pm

Ally and Synchrony and Capital One 360 are more tested alternatives.

You link your existing checking account for transfers back and forth.

We have used ING Direct (now Capital One 360) for years to squeeze a bit more interest out of our Emergency Fund.
"People want confirmation, not advice" Unknown | "We are here to provoke thoughtfulness, not agree with you" Unknown | Four words. Whole food, plant based. Bing it.

stlutz
Posts: 5476
Joined: Fri Jan 02, 2009 1:08 am

Re: Opening a new Checking Account/ Bank of the Internet

Post by stlutz » Wed Sep 05, 2018 6:57 pm

No experience but B of I has been around for a long time. They have 55 reviews at depositaccounts.com:

https://www.depositaccounts.com/banks/b ... ml#reviews

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