A friend of mined introduced me to online banking via paypal a year ago but because I don’t own a credit card, my account was limited to sending and receiving only an amount of $100. When I exceeded the limitation, I was forced to finally open an online savings account with a debit card. I was surprised actually how easy the process was and now, I’m already a paypal verified member who is allowed to send and receive a maximum of $500 in a month.
Opening an Online Savings Account is a practical move these days, especially for people on the go. It’s very convenient to save, check, withdraw and transfer money without going to the bank. Almost all places now — malls, restaurants, cafes, hotels, even city halls like Marikina — offers free Wifi connection. It’s easy and hassle-free to check online your balances and transaction without traveling to the bank and waiting in a line to talk to the teller.
Consider these conveniences of online banking once you open a savings account with WaMu dot com: free online banking and free electronic statements with no monthly service charge.
In my case, online banking has really worked for my advantage. Whenever I get new funds in my paypal account, I can simply transfer the dollars in it to my local bank account via online banking. I also save time and effort going to ATM to check if my money is already wired because I can check it online. Very comfy indeed.
In opening a virtual account, always exercise caution. Here are some reminders in opening and maintaining an online savings account:
Choose a bank with a good reputation. Do this by checking online feedbacks or reviews regarding the bank’s services and credit standing. Provide accurate information so in the future, you will not have problems with your identification. Choose your username and password diligently, passwords should not contain patterns or name of your family members. It would really be good to combine alphanumeric and special characters in your password. Do not share your password with anyone. Do not forget your password too. Regularly check your balances and transactions. Be wary of phishing or scam or hoax mails. Be sure to check the authentication of emails before providing important information about you and your account. No mails from your online savings account will prompt you to redirect to a site to input your password and other important account information.
Online banking is very practical. Practice caution and you’ll be fine. 
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