In this segment of The Motley Fool's all-financials show Where the Money Is, Fool financial analysts Matt Koppenheffer and David Hanson take a question from a Fool reader on Facebook who writes, "Are online banks a good place for keeping emergency funds? Or is keeping it in a bank savings account or checking account better?"

The guys discuss why entirely online branchless banks like Bank of Internet (NYSE:AX) or Capital One 360 (NYSE:COF) make perfectly safe and sound alternatives to traditional banks and the importance of liquidity when planning an emergency fund.

This article represents the opinion of the writer, who may disagree with the “official” recommendation position of a Motley Fool premium advisory service. We’re motley! Questioning an investing thesis -- even one of our own -- helps us all think critically about investing and make decisions that help us become smarter, happier, and richer.