Online Savings Accounts & Current Rates

[sweeps]

Originally Posted by BTC

I was going to buy after yesterday's big dip, but held off. Now I feel poorer.

Yeah, I'm disappointed too. I was hoping the market would keep falling so I can keep buying shares on the cheap.

[Jazzmint98]

ING is down to 3.10% as of 3/11/08.

[poundwise]

This week's updates (APY):

OneUnited down from 4.60 to 4.00
ETRADE down from 4.10 to 3.45
Apple Bank down from 4.00 to 3.70
AmTrust Direct down from 3.75 to 3.50
Emigrant Bank down from 3.60 to 3.30
Banco Fortuna down from 3.60 to 3.30
Ultima Bank down from 3.50 to 3.40
ING Direct down from 3.40 to 3.10
Capital One down from 3.25 to 3.10

See first page of this thread for complete, updated listing.

[m3racer]

Does anyone know what the scoop is RE: Savings Square? They were a 4-star rated bank by Bank Rate but they have not been listed on the website for months.

[m3racer]

FWIW, Amegy Bank has a 4.01% APY. They have a 4-star bank rate.com rating. It might be a good spot to park some $$$ for anyone that's looking.

[sweeps]

A 100 basis point cut from the Fed is back on as a possibility. Futures traders have priced in a 100% chance of at least a 75bp cut, >50% chance of a 100bp cut.

[BTC]

I hope they don't cut at all, simply because I would like to see stocks take a brief dive. Considering the latest tame inflation numbers, there is probably little possibility of the Fed leaving rates untouched.

[sweeps]

3/4 point today

S&P 500 up almost 4% right now. This is why you don't sit on the sidelines when the going gets rough.

[sweeps]

Emigrant Direct down to 3.0%.

[aurielle]

HSBC is down to 3.05%

[Aleta]

ING is down to 3.00% too.

[bullabulla]

ING down to 2.99

Any better alternatives?

[m3racer]

Ss 3.5%

[Skooby]

FNBO down to 3.25 from 3.85.

[duckman66]

Emigrant Direct is down to 2.75% as of this morning. It was 3.00%.

[poundwise]

This week's updates (APY):

SavingsSquare down from 4.00 to 3.50
WaMu down from 4.00 to 3.55
UFBDirect down from 4.00 to 3.35
FNBO down from 3.85 to 3.25
Apple Bank down from 3.70 to 3.50
M&T Bank down from 3.70 to 3.45
HSBC Direct down from 3.55 to 3.05
AmTrust down from 3.50 to 3.25
ELOAN down from 3.50 to 3.00
Presidential Bank down from 3.50 to 3.10
Ultima Bank down from 3.40 to 3.10
Univest Direct down from 3.40 to 2.70
Emigrant Direct down from 3.30 to 2.75
Banco Fortuna down from 3.30 to 2.75
ING Direct down from 3.10 to 3.00

See first page of this thread for complete, updated listing.

[poundwise]

Though we knew it was coming (and has been coming), I expect many of us are very disappointed in the yields we are receiving on these accounts.

For those who are looking at this list for an idea of where to open an online savings, my former recommendations, over the course of the last 60 days, have been:

Amboy Direct
Emigrant Direct

I can no longer recommend the latter. If you are looking to open a new account, I'd suggest:

iGOBanking
Amboy Direct
SavingsSquare

These have been, and remain, higher yielding accounts than the average and these offerings have been less volatile than others. They are not the only good choices and there is no guarantee as to how their rates may change in the future, however, that is my recommendation.


A side note: I've mentioned this before but Presidential Bank really needs to hire a web designer that is not the bank president's nephew. Besides the site looking like it was designed by someone with a copy of "HTML for Dummies" (1994 Version), it still has, in the title bar, a statement indicating that the account (now at 2.75% APY) is yielding 4.90% APY. The bank has had multiple drops since then but no one has bothered to properly update the site page. Why does this bother me? I just find it highly unprofessional and, as a former web designer, there is really no excuse for such a mistake to persist.

Originally Posted by poundwise

A side note: I've mentioned this before but Presidential Bank really needs to hire a web designer that is not the bank president's nephew. Besides the site looking like it was designed by someone with a copy of "HTML for Dummies" (1994 Version), it still has, in the title bar, a statement indicating that the account (now at 2.75% APY) is yielding 4.90% APY. The bank has had multiple drops since then but no one has bothered to properly update the site page. Why does this bother me? I just find it highly unprofessional and, as a former web designer, there is really no excuse for such a mistake to persist.

Just to see what they would do, have you considered calling and asking why your accounts are not getting the 4.9% that you are suppose to be getting (hay that is what the title bar says)!!

Other than that Thanks for the Great Post!!! Your Thread is often the one I show people when I tell them about SavingsAdvice!!

[Aleta]

ING has always been the first one to lower rates and imagine my surprise when I checked and Emigrant Direct was lower than ING.

[sweeps]

Originally Posted by Aleta

ING has always been the first one to lower rates and imagine my surprise when I checked and Emigrant Direct was lower than ING.

Yeah, ING is actually competitive right now. This is a flashback to 2005.