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

[Skooby]

I have two.

FNBO Direct
GMAC

FNBO transfer times are really slow. And GMAC might fall down to 1.3% APY with the way they are going.

[Beccagold]

I have 2 also. My first one was ING Direct which I started during its winter save up where it offered an increased interest rate. I keep the majority of my liquid savings at Emigrant Direct now. I didn't close out the ING account in case they ever offer another "save up" special.

[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.

[Broken Arrow]

Amazingly enough, I don't have one right now.

My credit union upgraded my checking to 5%... for free!

So, I'm sticking with that for now....

[Slug]

2 if you count Paypal. The other is ING. I would consider adding other's but only when there's sign on bonuses. Anyone know of any good ones?

EDIT: I'm up to 3. I just added AmTrust

EDIT #2: 4 now. I just added Countrywide Savings Link paying 4% on accounts over 10k

[RJB1180]

9 and my wife has three

[Broken Arrow]

Originally Posted by RJB1180

9 and my wife has three

Why so many?

[sweeps]

Originally Posted by RJB1180

9 and my wife has three

It must be fun waiting for 1099's to come in at the end of the year.

[disneysteve]

Just one - Paypal.

[vsjhoc]

Two.

GMAC (yeah, the rates have been dropping like a dead bird in the sky).

UFB (now Huntington): This is my "escrow" account for my property tax. I deposit a monthly amount so that I have the money when the bill is due twice a year. I don't pay my mortgage company and rely on them to pay my taxes; why should they earn the interest instead of me? Although the interest rate has plunged here too.

Those days of 6% at HSBC seem so long ago ...

[RJB1180]

Originally Posted by Broken Arrow

Why so many?

BECAUSE $25 a pop is enough to make me open.

I have no more than $25 in each for rate chasing (well not so much anymore)

[Pitman]

I also have a paypal account, but rarely use it, only when I sell a pair of sneakers which is usually only once a month.

[Broken Arrow]

Originally Posted by RJB1180

BECAUSE $25 a pop is enough to make me open.

I have no more than $25 in each for rate chasing (well not so much anymore)

Ah ok. I have a checking I don't use because they offered me $50 to keep it open for 6 months.

[disneysteve]

Originally Posted by Pitman

I also have a paypal account, but rarely use it, only when I sell a pair of sneakers which is usually only once a month.

Originally Posted by Broken Arrow

Ah ok. I have a checking I don't use because they offered me $50 to keep it open for 6 months.

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.

[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%

[sweeps]

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.

Only if the bank does a hard pull on your credit. Other than that, savings accounts have no effect on your credit.

[anonymous_saver]

I have 3.

Emigrant: Where I have kept all of my money recently, I haven't bothered to switch to HSBC because of all the recent interest changes.

HSBC: $1 in the account, just in case interest rates rise significantly.

ING: $1 in the account, just in case interest rates rise significantly.



However, I recently saw this change at my credit union and was wondering what you all think (this is just a post I posted on another site, which was much easier than typing it all again):

I have done the high interest online savings account for a few years now (mostly with EmigrantDirect, although I had my money temporarily in others). I love the usability of these websites, particularly with the subaccounts. However, my credit union now has the new offer below. Yes, it is more interest than other online banks currently, but I'm concerned about being able to keep track of how much money is in each subaccount (Emergency fund, down payment, etc.). Maybe concerned isn't the right word, but I know using the subaccounts on the online banks are much easier. Plus, read the qualifications that I would have to do to get the interest. The only one I would have to keep an eye on is the 10 purchases per month on my debit card. I usually like to use case for things, but I guess I could change. I dunno.

Amplified Checking
Tier I: Balances from $.01 to $25,000 4.30%
Tier II: Balances over $25,000 1.01%
Basic Rate (if criteria is not met) 0.10%

To receive Amplified Tier I/Tier II rate you must meet the following requirements per statement cycle: 10 check card purchase transactions, one direct deposit or automatic payment and must be enrolled in E-statements with valid e-mail address. If the minimum requirements are not met in a statement cycle then the basic rate will apply to all balances.

So, what would you choose? Right now I figured out with the following calculator, I could potentially lose about $46 in 6 months by keeping it with Emigrant. This is of course BEFORE taxes.

One added note, I think my purchases range from 4-10 each month, so I would really have to keep an eye on it.

[Slug]

I've seen these. They seem like a lot of work to me to remember everything you need to do to qualify on a month to month basis. For me they're more work than they're worth primarily because I charge everything to CC's.

[anonymous_saver]

Yeah, I only use my CC every once in awhile to keep on building credit (and i pay it off immediately).

The only requirement on this deal is the 10 debit card purchases. I do everything else required.

[huffydeb2003]

I have 3.

ING
IGO
Shore Bank