Online banks typically offer significantly higher interest rates than traditional banks, often with lower fees and better digital tools. The key is knowing what to look for. While online banks share many features with traditional banks — like FDIC insurance and basic account services — others features require more evaluation since you won’t have physical branches to visit.

Here’s what matters most when choosing an online bank that will serve your needs and help your money grow faster.

1. FDIC insurance protection

This should be your first and most important consideration. FDIC insurance protects your deposits up to $250,000 per depositor, per bank, per ownership category. It’s backed by the full faith and credit of the U.S. government, which means you won’t lose your money even if the b

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