Myth #1: They’re risky because they’re online.
Reality: As long as the bank is FDIC-insured, your money is just as safe as it would be in a traditional branch.
Myth #2: You need thousands of dollars to open one.
Reality: Many online banks let you start with $1.
Myth #3: Rates are guaranteed.
Reality: Rates fluctuate. But even when they dip, they almost always stay higher than traditional savings rates.
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