Online banking continues to grow
As the analytics firm ComScore points out, online banking and mobile banking have become commonplace in the past few years. Whether you have an account at a traditional bank or at a web-based bank, you can do just about anything online: check your balance, pay bills, transfer funds, even deposit checks by scanning them into your home computer or taking a photo with your smartphone.
Not surprisingly, we found far more reviews of online banks than when we last updated this report in 2010. Most sources focus on either the large, traditional banks or those that operate online only. One exception is BankRate.com, which covers both traditional and online banks, posting interest rates and rating the banks' financial stability. MyBankTracker.com also covers both types of banks, offering not only editorial reviews but also hundreds of detailed customer reviews of the banks.
A few sources cover the big banks only. For example, Keynote Systems Inc. provides detailed rankings of 24 traditional banks, based on objective research and analysis. Rankings of the five biggest banks by ComScore are also useful; the firm analyzes customer satisfaction with the financial institutions themselves and their websites as well. The American Customer Satisfaction Index also ranks the big banks and their online services.
For evaluating Internet banks, we found several reviews at Kiplinger.com and one at PCMag.com. We also found a plethora of news and reviews on blogs, including GetRichSlowly.org, DepositAccounts.com, It's Your Money and others.