Answering the big safety questions

My buddy was definitely interested in earning more, but he had a slew of questions first: Are online banks even safe? What happens if I need my money and there are no branches around?

The truth is, online savings accounts are just as safe as the big banks. They’re FDIC insured up to $250,000 per depositor. Plus, most have modern apps and websites that make moving money between accounts quick and painless.

ACH transfers, Zelle, mobile check deposits, etc. Most online banks have the same modern tech as big banks (actually, in my opinion fintech banks have better features).

Here’s what else the LendingClub LevelUp Savings account offers:

  • No monthly maintenance fees
  • No minimum balance requirements
  • FDIC insurance up to $250,000
  • Debit card for withdrawing cash
  • ATM fee reimbursement nationwide

Personally, I’ve been using an online-only bank for years and never had a problem accessing my money. And I’ve earned over $2,000 in interest since moving my cash to a high-yield account.

Make your savings work harder for you

That innocent hike ended up making my friend an extra $100+ per month.

If you’ve got money just sitting in a low-rate account, maybe it’s time to make the switch too.

A high-yield savings account can turn your cash pile into a steady stream of passive income, with no extra risk or effort.

Compare today’s best high-yield savings accounts and start earning more on your money.

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