{"id":14544,"date":"2025-12-15T11:30:23","date_gmt":"2025-12-15T17:30:23","guid":{"rendered":"https:\/\/www.discover.com\/online-banking\/banking-topics\/?p=14544"},"modified":"2026-02-04T13:18:43","modified_gmt":"2026-02-04T19:18:43","slug":"5-online-banking-myths-debunked","status":"publish","type":"post","link":"https:\/\/www.discover.com\/online-banking\/banking-topics\/5-online-banking-myths-debunked\/","title":{"rendered":"5 common online banking myths debunked"},"content":{"rendered":"\n

When\u2019s the last time you made an appearance at a brick-and-mortar bank location? With the latest digital technology, there\u2019s almost no reason to step inside a physical bank: Most Americans have used digital banking services within the last year<\/a>, according to a Bankrate survey.<\/p>\n\n\n\n

But you might still like the idea of having a checking account at a bank with a branch nearby. Why? Maybe you think online banks aren\u2019t as convenient as stopping by your neighborhood branch to get cash, the perks aren\u2019t as good as with traditional banks, or that online banks aren\u2019t insured. These are three of many big myths about online banking.<\/p>\n\n\n\n

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\u201cPeople who say online bank accounts are inconvenient may not know how they work,\u201d says Monica Lam, founder of a frugal-living blog. \u201cI can mobile deposit a check into my account at any time without having to drive to the bank and wait in line.\u201d<\/p>\n\n\n\n

Lam wishes she took the benefits of an online checking account<\/a> more seriously sooner. \u201cIf someone had told me I could avoid using gas or spending time going to the bank to deposit my checks,\u201d Lam says, \u201cI would have switched a long time ago.\u201d<\/p>\n\n\n\n

By now you\u2019re probably wondering, \u201cWhat are the most common myths about online banking?\u201d We reveal them\u2014and give you the true facts about online banking\u2014so you can understand why opening an online checking account<\/a> might be right for you.<\/p>\n\n\n\n

Myth 1: Online banking is inconvenient<\/h2>\n\n\n\n

Don\u2019t just take Lam\u2019s word that inconvenience is an online banking myth. Some online accounts offer 24\/7 access to many features: You can open your account, view your balance, deposit checks, apply for loans, and pay bills\u2014all from a mobile app or website.<\/p>\n\n\n<\/div>\n\n\n

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Most Americans have used digital banking services within the last year.<\/p>\n