Q. I never had an online savings account before. What are the advantages of having one?
A. Some of the advantages are saving time, saving money and making your life easier and more efficient.

Q. Does each state have its own laws and regulations regarding online savings accounts?
A. Apparently so. We are working on a page of links to each state's information on banking regulations. Please check back soon and it may be available to you at that point.

Q. Do I have to maintain a minimum balance?
A. In some cases yes, in other cases no. It depends on the provider. Some providers charge a monthly minimum access fee if you do not maintain a certain balance in your account.

Q. What is the registration process like?
A. If you have all of your information handy, it shouldn't be a problem at all. However, if you need to locate certain types of information in order to complete the signup process, it can seem somewhat complicated.

Q. How are interest rates determined?
A. Each institution responds to a number of factors that affect what interest rate they can offer their customers. Competition from other financial institutions, fluctuations in the Federal government's rates and other influences are taken into consideration before a decision to raise or lower the interest rates associated with your online savings account.

Q. Can I link my online savings account to my personal checking account?
A. Some of the companies we recommend may have an online savings account that allows for linkage to an online checking account.

Q. Can I use my online savings account for overdraft protection?
A. Only if you have your online checking and online savings accounts with the same institution, or if your online providers allow access to each others' accounts.

Q. Will I earn interest on my savings?
A. Of course, that's the whole point of having a savings account, isn't it?

Q. Will it make me more popular?
A. No, but it's a step in the right direction.

Q. Are there minimum deposit requirements?
A. Yes. Each institution has its own rules and application criteria. Remember, the more you place in an account the more interest you can earn. Therefore, it's in your best interest to save as much as you can.

Q. Are there monthly charges associated with online savings accounts?
A. In some cases yes, in other cases no. It also depends on the provider.

Q. Can I withdraw my money from an ATM?
A. In many cases, yes. Some also allow check withdrawls.

Q. Are there ATM fees associated with withdrawls?
A. In some cases, yes and, in other cases, no.

Q. Does Online-Savings-Accounts.com have any responsibility for what happens to my online savings account?
A. No. We exist merely to facilitate your ability to find a provider who can establish your account. What happens after that point is between you and that particular provider. All questions, comments and issues regarding the account you establish should be addressed to the company providing your service.

Q. What do you do with the information you collect on this web site?
A. Please refer to our privacy policy.

Q. Are there different types of online savings accounts?
A. Yes. Some are standard savings accounts, while others may be tied in to money market funds or other activities designed to get you a higher return on your money. However, there are varying levels of risk associated with each type of account, and you should do your research before committing to one specific type of account.

Q. What if I want to obtain other services beyond an online savings account?
A. In almost every case, the companies we recommend can provide you with a complete range of services, including checking, savings, personal banking, etc.

Q. What is the APY?
A. This is known as the Average Percentage Yield, or APY, which represents the total amount of interest your funds would earn if they were left in the account, untouched, for a period of one year.

Q. My credit history is not the greatest. Will it hurt my chances of establishing an online savings account
?A. Some banks and financial institutions that offer online savings accounts have provisions that an applicant's credit history or credit rating could have an adverse effect on their ability to establish an account.

Q. Do companies provide telephone customer service?
A. In almost every case, yes. Remember, it is in their best interest to be attentive and responsive to customers.