When considering an online-only bank, look for the security measures it has in place. Online financial institutions come with many safety features to protect you and your money. You may be wondering, are online banks safe? The short answer is yes. Look for features of online banking that will save you time and money and give you peace of mind that your money is safe and secure. While most online-only banks offer the same services and features as a traditional bank - often more - every online bank is different.