There’s a swell article up on MSN Money listing the Top 10 Online Banks. If your bank’s on there, you are probably scratching your head and hiccuping “Huh?” over and over again to yourself, incredulous at its presence. But more interesting and less questionable than the list itself is the accompanying article, which details many of the pitfalls consumer’s face when switching over to an online banking solution:

One drawback to online-only banks is making deposits. For payroll checks, this usually isn’t an issue, because most customers use direct deposit. But if direct deposit isn’t available, you’ll have to mail deposits to the bank (envelopes are provided), use an ATM that accepts deposits for your bank or transfer funds from an account at another bank.

Of course, mailing a check will increase — by days — the time it takes for your check to clear. And, says Online Banking Report publisher Jim Bruene, “People don’t like to make deposits at an ATM,” particularly one that isn’t owned by their bank. When Megacz was living paycheck-to-paycheck two years ago, he’d send checks to First Internet Bank via FedEx or express mail, which, he says, can be a pain.

There’s also an excellent list of features to look for in an online banking solution if you’re looking to switch over from the traditional method of handling your finances: actually fingering the disgusting pieces of paper that have anonymously shuffled through ten thousand greasy, possibly diseased paws before you.

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