The Pew Research Center has released a study that shows 51% of U.S. adults, or 61% of Internet users, bank online. According to the data, it is apparent that younger Internet users, those that are 18 to 29, report the most significant increases for online banking. These findings, that are based on nationally representative surveys, clearly show that Internet banking is on the rise.
While many of these users may simply be accessing their traditional bank accounts online just to make transfers and check balances, they still may not know all the benefits of having an account at an actual online bank, like Ally. Not only can you use your ATM card anywhere in the world and Ally will waive the fee for you, but Ally’s online savings account offers a much higher rate than traditional savings accounts. For example, currently Ally is offering .84% APY, while Bank of America’s regular savings account gives .01% APY. Plus, some of the top online savings accounts do not require minimum balances and charge no extra fees.
With more people comfortably banking online, it’s time for Internet users to reap the benefits of online savings. Check out our newest infographic to learn more about how online savings accounts can help your money go further.