Online banks appear to have it all; generally high loan fees, stellar client service, low fees, and the 24/7 access to your funds with the click of a button.

Still, online banking isn’t for everybody, and the line between the two is getting to be noticeably obscured as more banks increase their web awareness to compete.

To help you decide, we laid out and broke down the pros and cons of keeping your cash stored in a traditional versus online bank.

When it comes to security, both, traditional and online banking are vulnerable to hackers. Traditional banks have all your financial information stored in a big data center. Be that as it may, on the off chance that you pick an online bank that is backed up by the FDIC, you’ll be secured for a rate of your misfortunes. All you should remember is to avoid doing any online banking transactions on a public or shared Wi-Fi connection, since that’s when your information is most vulnerable.

Fees also play a big part for both types of banking. Online banks are friendlier because they typically require low monthly balances. Traditional banks on the other hand, require a large amount to be kept in your savings account without charging you a monthly fee. For online banks, the number is much lower.

A big part for both are ATMs. When it comes to banking, it is all about getting cash when you need it. It is always important people look at how many ATM locations there are within their area on the off chance that they need to deposit money. You don’t want to be in a situation where you’re in need of money and not a lot of ATM locations are available for you.

Depositing checks with your mobile phones is a step up in this world. Online banks give a few options to consider when you want to deposit a check such as, mailing it in or with your mobile phone in which you can take a picture of the front and back of your check and upload it to your account. But, a lot of people still rather deposit a check with a teller. Although many people still check their information and balances online, many still want to deposit their check in person with a teller.

Interest rates is always a tuff topic to touch on because bank’s interest rates could always sky rocket or still at a minimal rate. Online banks tend to have better interest rates than traditional banks because they don’t need to take any funds to operate a business.

Customer service plays a big role and says a lot about the bank that a person is situated to. Traditional banks as you may know work on a face-to-face basis, where if you would want to discuss your account in person then you stick to a regular bank. But, if you don’t mind discussing your account through email or over the phone, then online banking is for you.

In case you’re alright with technology and don’t feel like you need acknowledgment with the general population taking care of your money, keeping your funds in an online bank is an extraordinary alternative. You’ll see your cash increase than with a major bank, and you’ll pay less in expenses. As far as checking accounts go, online and traditional banks are basically neck in neck. THE CHOICE IS YOURS!