Burke & Herbert Online Banking (2024)

FAQs

Is Burke and Herbert bank safe? ›

Protecting your money is as important as helping it grow. This is why Burke & Herbert Bank is a member of the Federal Deposit Insurance Corporation (FDIC).

The lack of overhead gives internet banks advantages over traditional banks, including fewer or lower fees and accounts with higher APYs. Internet banks lack personal relationships, no proprietary ATMs, and more limited services.

Limited deposit and withdrawal options

Many online banks offer a limited number of deposit-taking ATMs, but if you don't have one of these nearby, you might be out of luck. That's why some people choose to maintain checking accounts at brick-and-mortar banks -- they can transfer cash to these easily.

A checking account that's not only convenient – it's free of minimum balance requirements and monthly fees too! $0 when you maintain an average daily balance of $1,500 or more; $2 monthly fee if average daily balance is $500-$1,500; $5 fee if average daily balance is below $500.

Online banking is generally safe and not easy to hack — as long as you take the right steps to protect your information. This means setting up strong passwords and changing them frequently, and using additional tools like two-factor authentication to give yourself an extra layer of protection.

Are banking apps safer than Internet banking? Banking apps can be safer than using an online banking portal due to biometric-enabled login options for your phone and the app itself. Your face, your fingerprint and your phone are a lot harder to hack than your username and password.

Online banking does have some potential disadvantages. These include a lack of face-to-face customer support, cash deposit services and a risk of technology failures or security breaches.

In order of frequency, the factors are: perceptions about risk; the need; lacking knowledge; inertia; inaccessibility; human touch; pricing and IT fatigue.

Why shouldn't I use an online bank? ›

If hackers gain access to your banking information, this puts you at risk of not only financial fraud — but also identity theft. Scammers use stolen personal data on the Dark Web to: Take out loans in your name. Open new credit cards and ruin your credit score.

Online banking is at risk of cybersecurity threats that could expose confidential and sensitive financial information of the customer. Hackers use various tactics like phishing attacks, malware, and ransomware to gain unauthorized access to accounts.

Burke & Herbert Bank & Trust Company's money market rates are 6X the national average, and it has a B+ health rating.

JP Morgan Private Bank

“J.P. Morgan Private Bank is known for its investment services, which makes them a great option for those with millionaire status,” Kullberg said. “With J.P. Morgan, each client is given access to a panel of experts, including experienced strategists, economists and advisors.”

1. State Bank of India (SBI)