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Online Banking Opinions Needed

January 10th, 2008 at 09:05 am

Dh and I have some money in a savings account that is our mini-house fund. I got our latest statement, and we earned *hold onto your seats* $0.35 in three months. Now I realize that we do have a bunch of money in there, but .5% interest is lame. I want to try an online bank but have no idea where to start in regards to choosing one. Since everyone here has been so helpful, I am turning to all you for help. I am interested in opinons, positive and negative experiences, and basically any advice you want to share.

9 Responses to “Online Banking Opinions Needed”

  1. mom-sense Says:

    I don't know whether or not E*Trade still has this deal or not, but last month I set up online savings accounts for each of us (minimum $1 to open) plus $25 interest and then 5% or something like that on all balances. I have heard good things about them as well as Orange ING accounts. Anything will beat your whopping $.35!

  2. Broken Arrow Says:

    I think the overwhelming advice is going to be ING, and I think their reputation is well-deserved. However, there are others that I've had good experience with as well, and the latest is Saving Square. (www.savingsquare.com)

  3. Ima saver Says:

    I just signed up with umbrella to get 5%. I also have an account with ING.

  4. M E Says:

    I have accounts with Emigrant, HSBC and ING. While Emigrant and HSBC both offer a higher rate, my personal "fave" is ING. Largely because it was the first account I opened.

  5. rduell Says:

    I like ING also. I've had accounts with Amboy and Emigrant, but the ING site is easier to use.

  6. Aleta Says:

    I also have emigrant and FNBO. ING is good too. It has an easy interface.

  7. thriftorama Says:

    I have two online savings accounts with EmigrantDirect.com. I love them. They are easy to use and I've never had any trouble transferrring money in and out. They pay 4.55 interest with a 4.65 percent APY right now. It's also an FDIC insured savings account, not a money market fund. I highly reccomend them.

  8. Caroline Says:

    When I was looking into high-yield savings accts, I started here: http://www.bankrate.com/brm/rate/mmmf_highratehome.asp?param... and then googled people's reviews on those banks.

    Important things for me were whether they were going to do a hard pull or soft pull into my credit, whether the bank drops rates a lot (like ING), and whether the website and customer service was good. I ended up choosing iGObanking.com which only did a soft pull into my credit, has only dropped rates once since the sub-prime mortage crisis hit and not at all with the last Fed rate cut, and the website design and customer service has been a very positive.

    iGo's current APY is 4.90% versus ING's 4.10%. Currently I am trying to talk my DBF into opening an account at eTrade so I can see what their accounts are like.

  9. Chris Says:

    Im with venturebankdirect.com right now. 3.8% APY with no minimum balance requirement.

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