I love making free money! Don’t you? Well, there are not many banks that I would recommend, but there are the select few that are great to bank with.
I found out about this bank when I read an article about online banks recommended to people who hate banks.
And trust me it’s been a great bank to do business with for me so far.
First, it is an online bank which means that there are not any actual bank locations, which is great for the consumer because you do not have to pay fees.
And when I say you do not have to pay fees with this bank, it is really true. Due to an oversight on my part, and a makeup box subscription, my account was overdrawn by $19 for almost two months and they never once charged me a fee, instead they just sent me reminders that I can make $10 for me, and $10 for a friend when they sign up using my link. Pretty Nice right? No $35 dollar a day fees or extended overdraft fees, nothing. I recently put money back in that account and added a new direct deposit. No need for me to be upset, or call them about the fees, to worry about adding money, and guess what, they got paid, I’m still a customer, I’m going to add MORE money, AND I’m going to recommend them to friends when they ask for a good bank to bank with. At the end of the day no harm done, I’m more than happy to recommend them, and they got my business. All without having to basically steal my money (ahem over draft charges, monthly fees etc) to make theirs!
The only fee you may encounter is if you load it at a reload location, instead of through an ACH Bank Transfer or Direct Deposit. Direct Deposit is definitely the best way to get your money into this bank, but the next best way is at a reload location, the place I always go to reload my online banking debit accounts is CVS, because they are easy to find. (I am not a fan of CVS, but its the easiest and quickest way to load cash onto your card.) It’s usually a 4.95 load fee, which is not bad considering that is usually a monthly maintenance fee at a competitor would be about the same.
One other neat tool is that they put money into savings for you, literally, I’ve only put about $2 in roundups in the past week, and they already notified me that they are giving me a savings bonus for using their savings roundups. Nice!
They are currently not a linkable account on Mint.com which is a great tool for financial account maintenance, and budget tracking, but they soon will be.