People like online banks because they are always open. One can see all the transactions updated every second. Online banks also allow users to manage many different types of accounts, including savings and checking accounts, as well as IRAs, CDs, mutual fund accounts, and even individual stock transactions. Your money is readily available, either by using your ATM/debit card or by electronically transferring your money to your associated checking account. Your accounts are truly paperless, with no need to file statements in folders and deal with physical mail deliveries.