GOBankingRates Releases List of 10 Best Online Banks of 2015

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Feb 03, 2015, 07:15 ET

LOS ANGELES, Feb. 3, 2015 /PRNewswire/ -- With higher deposit rates, lower fees and more accessibility, online banks offer a lot of the most important factors consumers look for in a financial institution. As part of its "Best Banks" series, running through February 16, leading personal finance site GOBankingRates investigated the top online banks in the U.S. to help busy consumers find the best places for their money.

The study examined 30 online-only banks, using a methodology that included five criteria: the checking account fee, the savings account APY, the one-year CD APY, the BauerFinancial Star Rating, and the bank's accessibility (including whether it offers 24/7 customer service, live chat service and/or a mobile app).

>> SEE REVIEWS OF THE TOP 10 ONLINE BANKS HERE

"Even though online banks are known for providing the most up-to-date online and mobile banking technologies, consumers still have access to brick-and-mortar conveniences, like ATMs," said Casey Bond, GOBankingRates' managing editor. "Because of their low overhead, online banks have the capital to waive or reimburse ATM fees and provide higher yields on bank accounts."

10 Best Online Banks of 2015:

1. Ally Bank
2. Bank5 Connect
3. Discover Bank
4. GE Capital Bank
5. Synchrony Bank
6. CIT Bank
7. Sallie Mae Bank
8. TIAA Direct
9. First Internet Bank
10. Barclays Bank

To see why these online banks are top-ranked, visit: http://bit.ly/16mNy5h

Key insights:

Fees: Five of the 10 banks on this list offer a fee-free checking account.
Rates: Savings account rates at the top 10 online banks range from 0.60% to 1.15% APY – as much as 14 times the average U.S. savings rate of 0.08% APY at traditional banks.
Accessibility: Nine of the top 10 online banks offer a mobile app, four provide customers with a live chat function and two have 24/7 telephone support.

For a video on how to find the best bank for you, visit: http://bit.ly/14Nx19I.

About GOBankingRates

GOBankingRates.com is a leading portal for personal finance news and features, offering visitors the latest information on everything from interest rates to strategies on saving money, managing a budget and getting out of debt. Its editors are regularly featured on top-tier media outlets, including U.S. News, Business Insider, Daily Finance, Huffington Post and more. It also specializes in connecting consumers with the best financial institutions and interest rates nationwide.

Contact:
Roxy Barghahn
GOBankingRates.com
[email protected]
310-297-9233 x202

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SOURCE GOBankingRates