like hsbc direct, ing or emigrant bank? I just found out that BOFA pays me less than 1% on my savings in fact 0.2% ...the hell? So i opened up an account with emigrant: no minimum, no limitations, 5.05% APY. sounds great but is there anything i need to watch out with this.
anybody else have there money online?
2007-01-12 15:28:48 · 7 answers · asked by Anonymous in Business & Finance ➔ Personal Finance
oompa loompa doompity doo...
2007-01-12 15:31:15 · answer #1 · answered by Brooks C 2 · 1⤊ 1⤋
I don't have any of the accounts you are referring to. I do have a savings account with Citibank that pays about 1.75% that I keep some money in for quick access.
The rest of my money I keep in a bond fund with Vanguard. My fund of choice is a Short-term Investment grade bond fund. You can write checks against these accounts if the check is greater than $200 (kind if like a money market account). This fund pays a little better than 5%.
If you don't mind the extra risk, you can put money into a High-Yield bond fund that pays out about 7% and you can still write checks against it. There is much more risk in this type of fund though.
With Vanguard, I think you need either $2.5K or $3K (sorry, don't remember) to open a mutual fund account.
Just an alternative to the online savings accounts...
2007-01-12 15:40:51 · answer #2 · answered by Slider728 6 · 0⤊ 0⤋
Yes - I have accounts with HSBC, ING, Emigrant and Superior Savings of New England. After 2 years of experience, I have not had any problems.
2007-01-12 15:32:29 · answer #3 · answered by Bill P 5 · 1⤊ 0⤋
Bankrate.com offers comparisons to several banks. I use online savings and the 5% interest is very nice and it is Federal Gov insured up to $100,000.
2007-01-12 15:36:17 · answer #4 · answered by Chi Guy 5 · 0⤊ 0⤋
I prefer ING http://home.ingdirect.com/
2007-01-12 16:08:52 · answer #5 · answered by spiffy 2 · 0⤊ 0⤋
Enjoy all of that extra interest you are earning! The wonders of compounding interest are in your favor.
2007-01-12 15:35:24 · answer #6 · answered by Patrick C 3 · 0⤊ 0⤋
they are great
BoA sucks
they charge you $10 just to close your account
2007-01-12 15:31:27 · answer #7 · answered by imbrue001 4 · 0⤊ 0⤋