Online Banks: Best of the Breed

What would you rather do: Stand in line or go online? Money Magazine gives you three reasons to say so long to your teller.

E-Trade Bank
E-Trade Bank
YIELD ON SAVINGS:
5.05%, no minimum
YIELD ON CHECKING:
3.25% for balances over $5,000
ATM REIMBURSEMENT:
Unlimited and automatic
CHECK WRITING: Yes
Though better known for its online brokerage accounts, E-Trade also offers a really complete menu of bank features online and at the best rates.

You get one of the highest yields on savings today, unlimited reimbursement for ATM surcharges, check writing and free online bill payment.

The only major drawback is a $5,000 minimum in checking to avoid a $15 monthly fee and a 0.5% yield. But sign up for direct deposit and that fee disappears.

E-Trade

HSBC Direct

EverBank
Want cash, discounts or air miles? These cards give you the most. (more)
Retail prices can be confusing. What does "list price" mean if nothing ever actually sells at list? When is a sale a genuine deal? Money Magazine explains why things cost what they do - and how to use that knowledge to get a better deal. (more)
Shopping for travel on the Web has become a long-drawn-out chore. Money Magazine's step-by-step strategy will get you to the good deals fast. (more)
Market indexes are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer LIBOR Warning: Neither BBA Enterprises Limited, nor the BBA LIBOR Contributor Banks, nor Reuters, can be held liable for any irregularity or inaccuracy of BBA LIBOR. Disclaimer. Morningstar: © 2014 Morningstar, Inc. All Rights Reserved. Disclaimer The Dow Jones IndexesSM are proprietary to and distributed by Dow Jones & Company, Inc. and have been licensed for use. All content of the Dow Jones IndexesSM © 2014 is proprietary to Dow Jones & Company, Inc. Chicago Mercantile Association. The market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. FactSet Research Systems Inc. 2014. All rights reserved. Most stock quote data provided by BATS.
Market indexes are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer LIBOR Warning: Neither BBA Enterprises Limited, nor the BBA LIBOR Contributor Banks, nor Reuters, can be held liable for any irregularity or inaccuracy of BBA LIBOR. Disclaimer. Morningstar: © 2014 Morningstar, Inc. All Rights Reserved. Disclaimer The Dow Jones IndexesSM are proprietary to and distributed by Dow Jones & Company, Inc. and have been licensed for use. All content of the Dow Jones IndexesSM © 2014 is proprietary to Dow Jones & Company, Inc. Chicago Mercantile Association. The market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. FactSet Research Systems Inc. 2014. All rights reserved. Most stock quote data provided by BATS.