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.
Online Banking Opinions Needed
January 10th, 2008 at 05:05 pm
January 10th, 2008 at 05:11 pm 1199985113
January 10th, 2008 at 05:23 pm 1199985825
January 10th, 2008 at 05:36 pm 1199986573
January 10th, 2008 at 05:57 pm 1199987846
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.
January 10th, 2008 at 06:00 pm 1199988031
January 10th, 2008 at 06:03 pm 1199988239
January 10th, 2008 at 06:16 pm 1199988983
January 10th, 2008 at 06:31 pm 1199989886
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.
November 25th, 2008 at 12:00 am 1227571203