First Internet Bank of Indiana launched on Feb. 22, 1999, at the Museum of American Financial History in New York City.

It was the first "extensive online bank" to offer banking products. (An online bank opened four years earlier.)

Almost all banks and credit unions offer online banking, bill pay, and cash transfers.

Consumers want to bank on the go, with their mobile devices in the spotlight.

Look for internet banks affiliated with the Federal Deposit Insurance Corp.

seals are FDIC-insured like FDIC banks. National Credit Union Administration online accounts are like FDIC accounts.

With an online bank, be sure that it: – Can prove it has robust internet security measures. – Has its accounts FDIC or NCUA insured. – Has never made headlines for careless data mishaps.

Online banks lack branded ATMs. Unless the online bank has an ATM network agreement, you could incur ATM fees.