100% Online Banking - Would you? Do you?

[CostaKapo]

So I had signed up for an ING Checking account about 5 years ago because of their policy in regards to overdrafts, 1% interest bearing checking, no monthly fee, no minimum balance, and all around customer service.

ING Direct has since been bought by Capital One and is now called Capital One 360

I never really had any real limitations using the completely online checking account, as mobile deposits and online transfers were easy. The only deposits you couldn't make were cash deposits.

I was originally nervous that Capital One was going to go all "big bank" on the account and get rid of free ach transfers, and add all the fee's but thusfar they have stayed the course of ING Direct. Up until now you couldn't use Capital One ATM's for cash deposits, but they have just merged the 360 checking with normal Capital One retail banking so cash deposits will be accepted at Capital One ATM's.

I still utilize Wells Fargo as my primary checking (mostly because my mortgage is with them ) but with this addition I may utilize this account more.

Do you have a completely online bank? Would you consider one? Does anyone use their brokerage account as their checking account? :cheesy:

 

[louistrader]

I would never use an all online bank as my primary checking because I do not like the idea of my only connection to my account being a call center and a Web site. I am also concerned of a banking crisis. I also looked at conspiracy theories that talked about having a cashless society. It's comforting knowing that my bank is a few blocks from me. Although if there was a crisis, it's unlikely that I would have access to my money anyway.

 

[CostaKapo]

I would never use an all online bank as my primary checking because I do not like the idea of my only connection to my account being a call center and a Web site. I am also concerned of a banking crisis. I also looked at conspiracy theories that talked about having a cashless society. It's comforting knowing that my bank is a few blocks from me. Although if there was a crisis, it's unlikely that I would have access to my money anyway.

I agree that there will always be a need for face to face human interaction. Wells Fargo is experimenting with a virtual ATM that has call centers in different time zones so that 24/7 you can speak with a human, open accounts, apply for loans, and do all the things that you would do with a human rep via the ATM.