What Are Some Safe Online Banks?


Quick Answer

Safe online banks include Ally Bank, GE Capital Bank and Discover Bank, according to GOBankingRates. These and other reputable online banks are considered safe if they are FDIC-insured, use anti-virus, anti-malware software, firewalls and extra security measures.

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Full Answer

Online banks with active FDIC insurance, such as Synchrony, CIT and Sallie Mae, protect consumers' bank deposits. Customers should check an online bank's About Us or Security page to verify that the bank is an FDIC member and to understand the measures that the bank takes to protect its customers' money and private information, according to the Federal Deposit Insurance Corporation. Customers can also check the FDIC's BankFind site to check the status of a bank's FDIC membership.

It's important to watch out for copycat websites that use names that are similar to other, well-known banks, in order to deceive customers and engage in fraudulent activity, warns the FDIC. These sites attempt to retrieve bank users' usernames and passwords.

In order to secure its customers' safety, Ally Bank offers free anti-virus and anti-malware protection to its customers. Ally and other online banks also log customers out of their accounts after extended periods of inactivity, to prevent others from seeing their private information. A best practice for keeping an account safe and secure is to never share usernames and passwords, as noted by Ally Financial Inc.

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