Are online banks safe? Short answer: yes. Online banks take numerous precautions every day to keep your money safe, from advanced cybersecurity technology to the latest user authentication methods. Ally Bank shares additional steps to further bolster your online safety . Online banks operate primarily digitally, without physical branches. While you won’t meet a teller face-to-face as a customer, you can access and manage your account anywhere, at any time, with your mobile device or computer.