Welcome back. It's Finance Friday, another special edition of Money Girl where I answer your

burning money questions. Today's topic comes from Wilma V, who says, I listened to Money Girl

episode 799 about using high yield savings accounts. It was great advice since online

only banks seem to have the best offers and interest rates. I love your podcast, but I'm now

anxious about choosing an online bank. I see myself going with a brand name such as American Express, but their interest rate isn't as high as some other banks I'm unfamiliar with.

Can you recommend a good and trustworthy online-only bank?

Thank you so much for your question, Wilma.

Switching from a traditional local bank to one that only exists online can initially feel strange.

And you've got many options out there.

So this podcast will review the pros and cons of online and traditional banks.

I'll cover how to find a better bank, how to move your money, and manage it easily. Thanks, everyone,

for downloading episode 911 of the Money Girl podcast. I'm your host, Laura Adams. I'm an award-winning

author, speaker, spokesperson, and founder of The Money Stack. That's my substack newsletter.

You can learn more and connect with me at laura d.adams.com. That's my substack newsletter. You can learn more and connect with me at laura d adams.com.

That's also where you can email your money question. I'd love to cover it here on a

finance Friday show. You can also learn more about my books and courses and sign up for

the money stack. And if you want to record a message, you can call our voicemail at 302-364-0308 and leave your message or

comment there. So let's talk about how online banks work. While traditional banks and credit unions with brick

and mortar locations usually offer online

accounts for handling some or all of your banking needs, online-only institutions have few or

no local offices or branches. Their customer service is available only by online chat or phone.

Digital banks and credit unions have become popular.

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