[mrvirgo]

Poor IngDirect! From leader to dead last. I pulled all but $5.00 out of my savings account two days ago when Citi announced their new rate. Since I already have a EZ checking account with them and a money market savings as well, it was a no-brainer what to do with my savings.

I am taking Catherine D. Palmieri at her word. If Citi backs breaks its promise [as quoted below], there are plenty of other on-line banks to switch to.

"In March, Citibank, a unit of Citigroup, introduced a high-yield savings account — one of the few with a checking component — along with a vow to offer one of the highest rates in the land. Citibank Direct's e-Savings account pays an annual yield of 4.5 percent and does not require a minimum balance. "We are going to maintain the rate" at a very high level, said Catherine D. Palmieri, managing director for Citibank.com. "When the Fed increases rates, we will go up as well."