Just curious...how many online banking accounts do you guys have?

[Pitman]

Originally Posted by disneysteve

Doesn't opening a lot of new accounts impact your credit score? Maybe it isn't a big deal but I thought it did have an effect.

Well I've been with paypal since 2003, but its only recently I've linked my bank account with them so it makes money transfering easier with the buyers.

[aevans1206]

Originally Posted by Ima saver

I have two, Ing which I opened for the free $25 and I have Umbrella. I opened that because of the rate, but it has now dropped to 3.9%

Wow. You're getting 3.9%? Mine with HSBC was about 5% when opened, will soon be well under 3. I have three as of today: HSBC, Chase (which is linked to my checking) and I opened a TD Ameritrade account today to get that $100 for the Suze Orman thing. Free $100 is free $100, especially if it forces me to transfer money into savings

[dollarsaign]

1 - Ing.

[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?

[Broken Arrow]

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?

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....

[LuxLiving]

jc3900,

I have two online banks that are in different locations than where I live w/savings accounts.

Locally I have a MM account w/online access.

I have them all connected so that I can switch back and forth between them depending on rates.

I try not to be a rate 'ho, chasing after returns, but do like to earn the best interest I can on our emergency funds w/the least amount of trouble. So, the majority stays in one local account, but have a portion put out to 'hard labor' earning us the best amount available there at the ones I am hooked up with.

I have a certain amount of dollars outside of our emergency fund that I use to follow special offers when they are available.

This money is not part of our retirement and goals money, but part of my wealth building capital.

Hope that makes sense.

[ThriftoRama]

Two online savings accts: ING and Emigrant. Opened the ING just for the $25 bonus.
Also, have 5 Schwab accounts-- brokerage and various flavors of retirement accounts (Roth, IRA, SEP-IRA, etc.)
It can be a lot to keep track of.

[fruitbowlk]

I have one with IGO

[cooliemae]

6 accounts right now, just closed two, but am going to be opening up 2 probably within the next 2 weeks.
My wife has 3 and she'll be opening up two new ones in two weeks.

So far I will have "invested" about $700 and will a profit of around $800!

[bjl584]

3

Igo
Hsbc
Ing

[GrimJack]

I have 3, ING, PayPal, and my Credit Union which just offered me a special checking account - 6.1% but I must make 12 debit card transactions per month. There is a $40,000 limit. I don't understand why but I can't complain except that I am unemployed.

[LivingAlmostLarge]

HSBC and that's it. Works internationally the ATM

[billy1980]

I have two accounts one both of which allow me to bank online. I recently opened an alience & leicester savings account which is soley an online account

[Skooby]

Originally Posted by Skooby

I have two.

FNBO Direct
GMAC

Got three now. Added ING Direct last week for the $25.

[Tim_1983]

I only have a Paypal account and a HSBC current account.

[creditcardfree]

All our banking is online with USSA. We have no brick and mortar bank. I also have Paypal and Revolution Money Exchange, which I opened for the free $25. I probably will close it at some point.

[threebeansalad]

I have Savings accounts and CD's with ING and Emigrant Direct. I recently opened a money market at TD Ameritrade so I could qualify for Suze Orman's $100 bonus. I recently wanted to open a new CD. I went with ING (12 months at 3.3%). The interest rate was a little lower than other banks but I'm truly to not make life too terribly complicated for my DH at tax time.

[maat55]

Originally Posted by parafly

Just one: HSBC.

I don't care about transfer times and when I opened the account they had one of the highest rates available. Now that their rates have dropped, I can open another account with a higher interest rate, but half a point makes very little difference for an emergency fund with only 10K in it. It's really just not worth the hassle since I don't keep most of my money liquid anyway.

That's questionable, if your getting 3.75 on one account or 1.5 makes a difference, when it comes to inflation. I would rather my EF keep up a little with it.

[Skooby]

Originally Posted by threebeansalad

my DH at tax time.

I've seen DH on other posts. What does DH stand for?

[disneysteve]

Originally Posted by Skooby

I've seen DH on other posts. What does DH stand for?

Dear Husband or Darling Husband. Same for DW (wife), DD (daughter), DS (son), etc.