The transition to online banking has been underway for years. It’s become so accepted that brick and mortar banks now offer most of the same features – online account access, bill pay, and even mobile banking to appease customers. Yet, they still fall short when compared to Ally and other online banks.

The reality is we are moving to a bank anywhere platform. Yet there will always be a few simple things we want from our bank.

That is why I started shopping around for a new bank last year. My criteria was simple and convenient:

• The bank had to offer good checking and savings accounts. I wanted simplicity, so no separate accounts in multiple banks.
• Both accounts needed to be no fee and free checking. If that’s not too much to ask.
• Make deposits from home. Let’s be honest, running to bank is not convenient.
• No ATM fees. Stalking an ATM network to avoid fees – not convenient.
• A decent interest rate.

That includes all the standard bells and whistles you get with checking and savings accounts these days – free debit card, online bill pay, balance alerts, and FDIC insurance. Continue Reading…