 TITLE: Are Online Savings Accounts Safe? CONTENT: Benefits of Online Savings Accounts\n-----------------------------------\nOnline savings accounts deliver several benefits:\n1.  You can often find higher interest rates and lower fees with an online savings account than a traditional savings account. Since online-only banks save money by not occupying brick-and-mortar spaces or employing tellers to staff bank branches, they're often able to provide higher interest rates and charge lower fees. You might see an interest rate on a savings account that's 1.25%, for example. You can designate that money for an array of purposes, such as an emergency fund or a vacation fund.\n2.  Anywhere and anytime, you can access your account on your computer, smartphone or tablet. (Many traditional banks also offer round-the-clock account access online, but their physical branches aren't open all day.)\n3.  Online banks often offer feature-rich mobile banking apps (as do a lot of traditional banks).\n4.  Since they're tech-focused, an online bank might be faster to adopt new features than a traditional bank would.\n5.  Some consumers report they're happier with the customer service provided by online banks than by traditional banks. In part, that's because some low-overhead online banks can invest more money in customer service. END