Quote:
Originally Posted by jc3900
So, as most of you guys have a HUGE majority of your money in stocks, bonds, etc..., why do you watch online bank accounts so much?
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I don't really, but online saving accounts usually have high APY, low requirements, and little or no fees. It can pay better than bonds and money market funds, and at a guaranteed rates with FDIC protection. The money also isn't tied down like CDs.
I think people who are most caught up with it are typically the younger crowd, who are typically more comfortable with internet entities and may not have as much money to invest yet. As such, online savings is an easy and viable option to "chase rates" with.
Personally, I don't think it's that big of a deal, but that's me sitting pretty with a 5% checking account at my credit union so....
