I ditched my brick-and-mortar bank years ago for a higher yielding online savings account. A few years ago, I moved my checking online too. I still kept a checking account open that wasn’t online because of the issue with mailing in checks. But with online banks now accepting mobile deposits, there is no need.
While you cannot earn the interest rates online that you could 10 years ago, the benefits to online banking (in most cases, absolutely free) are still a perfect reason to switch. If you are unsure, do as I did and “dip your toes in”. Once you see how great it is, you can jump in all the way.
Capital One 360: This is formerly ING Direct. You might find articles online about how Capital One was going to destroy ING, but so far that hasn’t happened. In fact, they have made the bank even better. I was one of those that was cautious of the potential issues with the switch, but it’s been over a year now without any issues. If things do change, I will be sure to update you. To get a full analysis, read my Capital One 360 review.
PerkStreet: I like PerkStreet as well. They come in a close second to Capital One 360. I used them for a brief moment when I was getting ready to move all of my banking online. There isn’t anything that is bad about PerkStreet, I am just partial to Capital One 360. You can read my PerkStreet review for a full analysis.