How safe are on-line only Savings Accounts [non-brick and mortar]
First, I have tried to research this subject myself but cannot find any information. I would like to know the pro’s and con’s of on-line savings accounts because my husband is interested in transferring his savings account to an “on-line” only institution because they advertise high interest rates vs brick and mortar institutions. Personally, I don’t trust it. Could you point me in the right direction so he can make an educated decision? Thanking you in advance for you assistance.
Terry Says
As long as the product you’re buying — a CD –is FDIC insured, you’ll have the same safety as a bank in your neighborhood.
But why not buy the safest online investment –U.S. Treasury Bills!
Read this: https://www.terrysavage.com/t-bills-beat-cds-2/
