i am now ready to move my CD into another bank or institution cause my current bank gave me a lower rates comp

Question

compared to the ones that i've seen here in the internet and since they don't have an office here in seattle, i'm kind of scared to do the transfer here online.......is it really safe to move funds here online? i don't want to lose my money since i really worked hard on it......how safe it is to do the transferring online?

Answer 1

It depends on what institution you are thinking of going to. Many online banks now offer very competitive money market savings over 5%. The funds are liquid and account setup is a snap.

I would reccomend Citibank.com because I have worked with HSBC, ING, etc and I found that the online banking piece with Citibank.com made it very easy to transfer my funds from another institution. Remember, Citibank.com was designed as a bank first and their online banking was created to support true banking needs. And security and safety is their number one priority.

Other lenders with online banks, eg HSBC, Emigrant and ING created their online banks to support their savings programs.

I have transfered well over $50,000 between accounts into my Citibank 5% E-Savings account. They made me go through a 3 step process move fund out of my old account and into my Citibank account.

No fees, no hassles, no worries.

Answer 2

As long as you're using an FDIC-insured bank, yoiu should be fine. Here's a link to use to monitor the best rates on FDIC-insured CDs:

http://www.bankrate.com/#

Click on CD (Certificate) Rates. It's very helpful.

Best wishes.

Answer 3

if it's a reputable bank then i'm sure it's safe.....
just always make sure the site your'e on starts with https://

that s stands for secure

and the info you put in is encrypted so it can't be intercepted

unless you enter it on a wireless network and someone has a sniffer nearby

wireless isn't so secure

don't ever enter acct. #'s on a wireless connection