Hello everyone and welcome back to Money Girls Quick and Dirty Tips for a richer life.

I'm your host, Laura Adams. This episode is about the pros, cons and earth friendliness of

banking and paying bills online. You've probably done some online banking, right? You can log in,

check your account balance, and see which payments and deposits have cleared. But can you view

your credit card or mortgage balance on your bank's website even if they were issued from a different institution?

Can you send a check to your brother without licking an envelope or buying a stamp?

If not, you'll be amazed at the time and paper that today's

online banking can save. I'm going to highlight some of the common online features and

benefits that large banks offer. If your particular institution is smaller, it may not be so technologically

advanced. I recommend that you find out more about what's available to you by investigating

your bank's website.

Online banking is not the same as an online bank.

Online or virtual banks don't have physical branch offices.

They operate solely by way of online transactions and exist only as a website for

customers who are internet savvy and don't want a lollipop from a drive-thru teller.

Virtual banks usually offer the same types of services and have the same federal

regulations as a local bank or credit union. Because they operate with much less overhead

than a traditional bank, they can offer some pretty competitive rates.

Their low expenses can mean lower fees, higher interest, and more benefits for customers.

Bankrate.com is a good resource to help you find virtual banks with the best rates.

The disadvantages of using an online bank include difficulty in getting cash and making deposits.

Because online banks don't have ATMs,

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