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Reply to "Worried about mobile apps for savings and banking; put my mind at ease, please"

I personally use Ally for their higher interest rates. And I think when using online banks, you should diversify across them, like anything. For example, I might keep a maximum of 100k in my Ally account as a maximum (this is a convenient number because once I hit that number, there's generally some real estate syndication I can reinvest in and then get rid of that heavily inflated cash).

And then I diversify it by having a Schwab bank account. I think they're quite good as well. I mean they have actual banks and aren't technically 'online only' but I was able to open one without walking into a branch and deposit money in it. I like Schwab because they allow you to use ATMs all across the world and reimburse you for fees. So I went to Mexico and was able to withdraw pesos without any issue, for free.

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https://goodmoneygoodlife.com

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