Online Banking

Question: As much as anything is "safe" these days, is it safe to open online savings/CD accounts with such companies as "ING Direct"? Sarah, Lakeville, CT

Answer: Yes. For safety and soundness, the key is to make sure that any online bank is backed by the FDIC, and ING is insured by the FDIC.

About the author

Chris Farrell is the economics editor of Marketplace Money.

Comments

I agree to American Public Media's Terms and Conditions.
With Generous Support From...