So I'm thinking of doing an ebay business to sell my souvenirs. Due to the crime that was committed upon me last month, I've cut down on selling my goods at the market. Only doing it part time now and ONLY IF I can go with others. Never going to go alone again especially early mornings to setup.

I'm looking to open an account at a new bank to fund the ebay business. Ebay requires you have a bank to sell goods.

I've never done any of these online banks and was always afraid of them.

But I saw one online Capitol One which offers Zero Minimum balance and Zero monthly fees.

Most of the brick and mortar banks I've talked with require some kind of minimum balance to be deposited - at least $1500. I'm looking to put in the least amount possible in deposit. Preferably $0. The plan is what I sell I'll just add to the online bank.

I am still a bit not sold on the new technology. I saw how you can now scan a check on the phone and it'll deposit into your account. It may take time for me to consider that cause that does not seem all that secure for $$ and identity purposes.

Is this Capitol One legit? Are there any similar online banks you guys can recommend? Also, for these online banks, say I want to take the money out, how do I do that if they don't have ATMs or psychical branches?

What souvenirs are you selling

Mayberry Security Bank is about right for you.

I hear good things about Ally bank.

https://www.ally.com/

What souvenirs are you selling

Capital One used to be great when it was still ING. But now it has Capital One stench all over it and the products haven't evolved in the last decade. I keep all of $11 there just to keep the accounts active because I can't be bothered to cancel.

Ally is pretty good. I haven't used their billpay on their checking, but their savings rates are excellent. I use them to park my car money - I was going to pay cash when I bought my car in February but got a 3.9% APR loan from Chase, so I move 6 months' of payments at a time from my brokerage to Ally and I'm getting 4.25% on savings.

They don't have totally free ATM access, but they are part of Allpoint so usually either Walgreens or CVS are fee free to withdraw. You probably have to start with $25 in checking.

Capital One used to be great when it was still ING. But now it has Capital One stench all over it and the products haven't evolved in the last decade. I keep all of $11 there just to keep the accounts active because I can't be bothered to cancel.

Ally is pretty good. I haven't used their billpay on their checking, but their savings rates are excellent. I use them to park my car money - I was going to pay cash when I bought my car in February but got a 3.9% APR loan from Chase, so I move 6 months' of payments at a time from my brokerage to Ally and I'm getting 4.25% on savings.

They don't have totally free ATM access, but they are part of Allpoint so usually either Walgreens or CVS are fee free to withdraw. You probably have to start with $25 in checking.

Chet, why pay interest if you can pay cash?

Because the cash is still in an old IRA, so it affects my taxable income. This way I can spread the tax burden over four years at presumably lower marginal rates. Between that and what Vanguard/Ally give me for my balances, it's a net positive.