I think their online saving account translates into a 1.20% APY and requires no minimum deposit or monthly maintenance, which is great. That said, other things I'd consider is that they have only 1 physical branch (though there are 60k surcharge free ATMs), and may not be for people who have a need to transact in a physical branch and their $15 withdrawal fee for > 6 transactions is a little pricey.
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The withdrawal fee is technically not their fault. You have to love US banking laws...
yeah but it generally ranges between $3-$15 for most banks, so towards the high end of the range.
It's not a checking account. So you need not really transact on a daily basis. Thus you not need a physical branch as well. Also, 0.95% is 1% APY.
However, mobile one could be, there will always be a reason to visit a physical branch. In a study conducted by big banks, 90% of people prefer to visit bank branches to conduct financial transactions (purchase certified checks, get docs notarized, convert bills, changes etc) and more importantly learn and understand about other financial products. And not to deny the benefit it brings to certain sections of the society (e.g. Seniors), who are not as comfortable with mobile banking. Also the APY is 1.20% and not 0.95%. Thanks