With an online or e-account, the banks do not have to maintain traditional brick-and-mortar stores. Some offer online savings accounts as an option to their other accounts; others focus on these accounts but still have a few in-person locations, other are strictly online. Your comfort level with online transactions, and online banking in particular, will make a difference as to which of these options is best for you.

Most offer high interest savings accounts, which consumers can use for everything from monthly expenses to savings for a large purchase. People often stash money in these accounts for an ?emergency fund? that they can draw on if needed.

can be perfect for this use. First, they rarely have any fees associated with them. Second, they're usually ?linked? to a savings or checking account you have locally. When you need money, you just log on and have the funds electronically transferred. They generally show up within two business days in your local account, where you can use them as needed. The money is transferred as cash, with no waiting period once it arrives in your local account.

However, that approximately two-day wait period also helps people avoid ?raiding? the account for every passing fancy. Let's say you see that perfect tool/pair of shoes/television/object d'art in a store. You want it, and you want it now. However, the price tag is a little out of reach. You vow you'll transfer the money and then hustle back to the store when it arrives and buy what you need.

But once you get home, you realize that the tool/pair of shoes/television/ object d'art is more of a want than a need, or the color isn't right, or sanity just plain settles over you. You don't transfer the money, and you discover you're still happy. Hey! How about that?

Just as with the in-person banks, you'll need to compare products and services, and evaluate which one is best for you. Don't forget to consider customer service?every online bank has a customer service department, and the day could come when you need to talk to them. You can compare other customers? experiences by typing the name of the bank and the word ?opinion? (without the quote marks?) into any search engine. Then go to the website and see how easy it is to navigate. Can you find what you need quickly? What are their security procedures?

Once you choose a high interest savings account, be sure to protect your money. Change your password on a regular basis, make it one that's not easy to guess, and never write it down. Your statements will likely be online, but make sure you log on each month and review them. Notify customer service immediately if you have any concerns.

Online savings accounts can offer the high interest savings you're looking for, along with low or no fees, and great customer service and security. A little research is all it takes to find the best account for you.