What are the cons of using an online only bank?

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Posted by Sophia Attebery (MONEY FORUMS: 4, Answers: 0)
Asked on February 22, 2016 11:15 am
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I’m not sure if this applies, (my bank does have physical buildings, but nothing in my state, so while it is technically not online only, it is for me at the moment) but one drawback I’ve run into is maximum amounts for mobile checking deposits. However, if you sign up for direct deposit, you shouldn’t have to worry about that. It is something to check up on though!

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Posted by María Zoraida (MONEY FORUMS: 4, Answers: 6)
Answered: February 24, 2016 10:11 pm
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I recently switched from Wells Fargo to Ally (online) as my main bank. The only hiccup I’ve come across is that PayPal doesn’t want to link my Ally checking account. It wasn’t a huge deal though since I already had a credit card linked to my PayPal account so I can just use that for future transactions, but just wanted to share that hiccup with you in case you’re a big PayPal user.

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Posted by Natasha Cornelius (MONEY FORUMS: 0, Answers: 9)
Answered: February 24, 2016 4:51 pm
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I’m having trouble thinking of any, unless you like walking into a branch and talking to people face to face instead of on the phone.

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Posted by Beth Tallman (MONEY FORUMS: 1, Answers: 61)
Answered: February 24, 2016 12:28 pm