Debt Free

Online banks have become very popular in recent years as many banking customers wonder why they should pay for all the infrastructure of a traditional bank. Some online banks are also regular banks, and nearly every traditional bank now has at least some online banking features for their customers, so the line between online and traditional banks has blurred latley.

Today I'm featuring one of the leading online banks, WTDirect. As with some of the other online banking leaders, they have much going for them. Founded in 2006 as a division of Wilmington Trust FSB, have been at the forefront of the online banking space since that time.

In early 2008 they further increased security by adding an additional layer of security to help authenticate their website. This helps WTDirect customers know they are at the genuine website, and not a phishing or other fraudulent site. It's one of the measures they've taken to boost customer confidence and be proactive in the fight against online fraud.

They are known for their high interest savings accounts, and they are consistently in the top 5% of interest rates for U.S. banks. That's great, because my off line bank pays about 40% less than this right now. Some of their other features include:

• No fees, No minimum to open (Note- To receive the high interest rate you must have a minimum of $10,000 in your account after the first 60 days)

• FDIC-insured (as are all U.S. banks. That's like when car companies say “We have anti-intrusion, steel door beams to keep you safe. Well, so do all the other car companies, it's required by law.)

• Higher transfer limits (Transfer up to $500,000 in and $200,000 out)

• Direct connection to real people through 1-800-WTDIRECT (What? Real people?)

As of June 19^th WTDirect is paying a robust, 3.26% on savings accounts, so if you're looking for an on-line bank, and if you're not getting this kind of interest rate, you should be, check them out here.