3 great benefits of online banking

Yes an no. You are technically correct, but most have a regular bank account that they interact with, but transfer the funds to the high-yield accounts. Best of both worlds.

COL Randall C. - we have USAA for many years. It’s office is in San Antonio, TX. We now live in Arkansas, which makes it very difficult to make a cash deposit. We have had to establish a bank account In Arkansas to make a deposit and then a transfer between banks. It can be done but it is cumbersome.

PO1 H Gene Lawrence - Agree. For me, I honestly can't remember the last time I did a physical deposit at the bank (decades?).

With Direct Deposit, depositing checks online by taking a picture, and other online mechanisms, the only time I've stepped into a bank in the last few years was to have something notarized.