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Originally Posted by Sweepsplayer
Final note: Don't get paralysis by analysis. Pick a bank and get your money to work.
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Yep. It's just like buying ice cream. You can buy one brand this month, a different brand next month, and stick with whichever you like best.
Opening an online savings account really is a very simple process, and the major players all seem to be within 1% of each other. On $5000, 1% is $50 a year. With the way rates have been going up and down, I wouldn't sweat it. Just pick one. Among the major players, almost any choice is probably a good choice.
I went with ING because I've read very few negative coments other than their interest rate being low. My account will never have more than $1500 in it, so for me customer satisfaction trumps the small amount of extra interest other banks will pay. Your mileage may vary.