The interest rate that you can get at Bank of the Internet (NASDAQ:BOFI), EverBank Financial (NYSE:EVER), or Capital One's (NYSE:COF) online banking platform is seven to eight times larger than that of a comparable savings account at Bank of America (NYSE:BAC) or Wells Fargo (NYSE:WFC).

Does this mean the former are riskier than the latter and can't be trusted?

I don't believe so.

In the video below, I explain why online banks are able to pay so much more on their deposits and why consumers should nevertheless be able to trust them to the same extent as the traditional depository institutions.

John Maxfield owns shares of Bank of America. The Motley Fool recommends Bank of America, BofI Holding, and Wells Fargo. The Motley Fool owns shares of Bank of America, BofI Holding, and Wells Fargo. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.