Introduction
This page is designed to be a step-by-step check list of how to choose a online bank. We recommend that you bookmark this page so you can be sure to follow the steps through the whole search and sign-up process. You can also print this page out and mark off the steps as you follow them. Let's get started finding the right online bank for you.

Look Regionally or Look for Special Services and Offers
If your current bank doesn't offer online banking, you have two options. You can shop for your online bank by services offered and special deals or look for another bank in your state or city that offers online banking. If having a local bank is important to you, then search our directory by state to see what banks are available in your state. If you are more concerned about services, rates, and special offers, then you should consider the best of the national Internet banks. You can choose a bank by viewing our best rate banks. Regardless of which way you choose to go, it is important to follow the steps below.

Check What Services Are Offered
If you are signing up for Internet banking because you want an easier way to keep records, make sure the bank that you sign up with offers record keeping services. This situation is true of all services. Make sure they are offered before you think about signing up. The most used services offered by online banks are:

• Account Viewing
• Transferring Funds
• Paying Bills
• Applying for Services
• Customer Service (by email, phone, mail, or in person)
• Financial Planning Advice
• Software Compatibility
• Archiving of Records - Generating Reports

There may be other services that you want; the point is to make sure that the services you want are offered, and then look for as many additional services as possible.

Try the Demo
Banks shouldn't expect you to sign up for their services without giving you some idea of how they function. On most online banking sites a demonstration of the service is offered. The best demonstrations actually allow you to see a test account that mirrors the actual type of account you will be using. The layout will be functional so you can try navigating through the site, and even try out some the interfaces for services, like paying a bill. Some sites will only show you images of what their system looks like. This doesn't give a real chance to try out the system, but if the design looks difficult to operate, you may want to try a different online bank. If a site doesn't offer some form of demonstration, you should likely look elsewhere unless the services and options are just what you are seeking. In this case, call or email the bank and ask about how the online banking interface works. Only then should you consider the bank.

At this point you should have decided which bank seems to be the best for you. Now you need to make sure that the bank you are interested in is in good financial order and that your money will be secure with this institution.

Look for FDIC Label
"FDIC insured" is an ever present catch phrase used by almost all banks. Created in 1933 in order to restore public confidence in the nation's banking system, FDIC (Federal Deposit Insurance Corporation) insures that customer's money is insured against loss even if the bank is no longer solvent. Each depositor is insured to $100,000. So no matter what happens to your bank your money will be insure. Most sites will have the FDIC logo on their main/home page or on their main online banking page. If you don't find the label, you will need to call or email to find out if the bank is FDIC insured.

NOTE: Credit unions are not insured by FDIC. If you are considering a credit union you will need to contact the National Credit Union Administration, which insures money deposited in some credit unions.

Check with the FDIC
An independent way to insure the legitimacy of a bank is to check with the FDIC directly to see whether a bank is insured. To find out if a bank is FDIC insured click here and use their bank finder form. If you can't find the bank listed there, try calling the FDIC at 1-800-934-FDIC (3342). Independent confirmation is an important step, don't skip it.

Take Steps to Avoid Fraud
Don't accept unsolicited email recommendations for online banks. You should search for the bank. Don't let a bank search for you. This way you won't be the victim of a web site masquerading as a bank when they are not.

Make sure the online banking site you are considering has depth (many pages) and is well designed. Unless you know a bank is legitimate, don't accept a poorly designed site with broken images. If you are unsure as to whether an online bank is legitimate, try a different bank. If you want additional steps you can take to protect your security, read our 18 steps page.