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There are many online banking institutions that have free online savings accounts. While this is a relatively new banking feature, it has exploded on the banking market. The first step is to insure that the bank is an FDIC ( Federal Deposit Insurance Corporation)bank. Then the person should chose one of the many banks that fits their needs, some offer low opening fees, minimum balance requirements, interest rates, and ease of access to funds. There are many aspects to opening an online savings account, with hundreds of banking choices, you can be assured that they almost always pay higher interest rates than a regular neighborhood bank.

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13y ago

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