Online Savings Accounts & Current Rates

[weissheit]

Originally Posted by poundwise

Yes. Simple online bank savings and money market accounts. There are several credit unions that would qualify, however, membership to most credit unions is not readily open to everyone and so, rather than sort out all of the details of joining such, this list only shows accounts that are open to everyone in the United States.

That being said, posters should not let the fact that CU information will not hit "the list" deter them from posting information about a CU that offers a good rate. The readers/followers of this thread can then look into the details and see if they qualify. I've been very happy w/ the 3.5% APY I get with my Investor checking at Apple FCU in Northern Virginia. Turns out I qualified because I am an alumni of the area's local state school. Many CUs have very broad criteria for membership. CUs are very competitive in this market/interest rate environment and on average they have much better customer service.

[poundwise]

Originally Posted by weissheit

That being said, posters should not let the fact that CU information will not hit "the list" deter them from posting information about a CU that offers a good rate.

True.

People, including yours truly, often post about interest checking accounts, CD rates, etc. so posting about a good rate with a credit union is, of course, permitted. Just don't expect it to appear on this particular listing of online savings accounts.

[jeffmem]

Is the apple site back up yet, because for two weeks now I have been unable to access it. Until now I still cannot access it...

[saverbootay]

Sallie Mae, known for their student loan business, has an online bank now.
Currently at 1.25% APY.

https://banking.salliemae.com

[Radiance]

I opened an account at smartypig, they are still at 2.01 APY*
Plus, I love their goals interface!

[Andrew Jackson]

Originally Posted by Radiance

I opened an account at smartypig, they are still at 2.01 APY*
Plus, I love their goals interface!

I also have an account at smarty pig that i opened up a couple weeks ago. Currently it only has about $75 dollars in it and is set up to take monthly debits out of my checking account so that I will have a nice stash of cash ready for the holidays. I'm sure I will probably use one of the gift cards as well.

They also have a gift card with a 7% match from Jarred Galleria of Jewelry. I plan on buying an engagement ring sometime in the next six months or so and was thinking of adding some more money for that.

[poundwise]

Updates today, Friday, March 26:

Bank of Internet High Yield Savings down from 1.50 to 1.40
Bank of Internet Money Market Savings down from 1.45 to 1.35
Bank of Internet Advantage Savings down from 1.40 to 1.30
Grand Yield Direct down from 1.40 to 1.25
iGOBanking down from 1.31 to 1.21
Ally Online Savings down from 1.30 to 1.29
Ally Money Market down from 1.30 to 1.29

Capital One High Yield Money Market down from 1.15 to 1.05 and OFF LIST

Southern Community Ready Saver High Interest Savings ADDED at 2.00

[GregOlney]

Goog post Chris!

[BTC]

Dollars Savings Direct is down to 1.20% APY.
Emigrant Direct is down to 1.00% APY.

[weissheit]

FYI Former online bank list member Shorebank is apparantly (no pun intended) "on the rocks"

Goldman Leads Race to Save Chicago Bank - WSJ.com

[weissheit]

For what its worth I recently closed my centurybankdirect accounts. I submitted the request on a Thursday and I had a check in my mailbox on Monday. They never jerked me around and asked why I wanted to leave. This online bank use to be on the list, but its rates fell below the minimum cut off, so they were de-listed.

[Aleta]

FNBO is now down to 1.09 / 1.10 APY.

[BTC]

Originally Posted by Aleta

FNBO is now down to 1.09 / 1.10 APY.

And that blows. I just transferred quite a bit of money from one of my other savings accounts that was yielding 1.10% into my FNBO Direct account. That appears to have been a waste of time.

[Broken Arrow]

What the? Poundwise is no longer maintaining this list? Bummer! It's been good while it lasted though. Thanks for all the hard work!

[weissheit]

Thank You Poundwise!! Good Luck!

[Aleta]

Thank you poundwise. We will miss you.

[BTC]

Did something happen to Poundwise?

[BTC]

Nevermind.

[jeffmem]

Wow, when she stopped updating this list the thread just died... I hope all of us can maintain it ourselves and update each other about current rates.

I hope poundwise will return, but I think right now the rates are so low that it probably doesn't really even matter. I sort of hope the end of this year will bring some rise in rates, but I am not holding my breath.

[CHH1023]

Is it safe to use internet banks?