Anyone have an experience with a checking account with no local branch?
I’m wondering because there are a couple of different companies — Schwab and ING are the two that I can think off of the top of my head — that have checking accounts available with interest rates around 4% or 4.5%. But, they both have only a single physical location (in, oh, Nevada, because of the banking laws there), and the idea is that most interactions happen over the internet or via direct deposit. In order to deposit a check, you have to mail it to them, and that strikes me as being a little weird. (They refund any ATM fees that you run up, so not having local ATMs doesn’t really influence the whole thing.)
So, I’m wondering if anyone out there has done this in the past, and if it works.
November 4th, 2007 at 9:51 pm
[...] Economist’s View wrote an interesting post today onHere’s a quick excerpt … that have checking accounts available with interest rates around 4% or 4. 5%. But, they [. . . ]… [...]