Easy transaction if you're willing to wait for deposit 'til next day. Does your local bank put a hold on that deposit? What if you want to close your account at online bank (for whatever reason -- maybe you think Wall Street is failing and banks are ready to tank -- just sayin'  ) and want your life's savings of $1.5M in cash now? Can you get your cash out same day with maybe a couple of hours' notice (standard at most brick & mortar, I believe, for large amounts)?
I get it that they offer same products as other banks, i.e. several savings products and several loan products. That's 'cause they want the monies those products generate, IMO. However, how easily are they willing to part with MY funds? How easily accessible are MY funds?
I did not research Ally or USAA. However, I was not impressed with the review I found for Chime Bank: http://www.highya.com/chime-banking-reviews Personally, I don't like the restrictions on MY funds as pointed out.
Further, they advertise fee-free. Reading the fine print, not so.
Like I said, too many restrictions, too much double-talk -- not impressed, at this time.
jmo
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