Your online bank is always open. You can see all of your transactions updated every second. Online banks also allow users to manage many different types of accounts, including savings and checking, 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 have to file statements in folders and less mail to manage at your home.