Online Savings Accounts & Current Rates

[BTC]

Re: Summary Post of Online Savings Rates

This is kind of veering off topic, but I'm probably going to earn an additional $100.00 by moving my money to take advantage of HSBC's promotional offer. That's not bad considering that it took only a few keystrokes. My decision would have certainly been different had the disparity in rates only been .06%.

[krayziebone33]

Re: Summary Post of Online Savings Rates

Does anyone use OneUnited.com? If so, is anyone else experiencing problems with their website loading?

[wyett3]

Re: Summary Post of Online Savings Rates

Observations:

19 Offerings at 5.00% APY or better

12 Offerings at 5.25% APY or better

5 Offerings at 5.30% APY or better

And, sorry to pick on ING, but they are still sitting at 4.50%, just ahead of Allstate at 4.25% and Stonebridge at 4.00% at the bottom of the list.

E-trade has a new $25 bonus for new accounts

Is there an identity theft or other risk in having all these accounts open; leftovers from trying them out or rate and bonus chasing?

[wyett3]

Re: Summary post of online MMA rates

A .70% spread is a lot different than a .06% spread.

You can run the numbers here to find out when chasing rates is worth it or not: The Ultimate Interest Rate Chaser Calculator

I find that ED posts deposits soonest (although held 5 days before funds are available), even having the funds appear in both banks at once, and holds withdrawals a little longer too. While HSBC's system doesn't credit deposits until they've cleared (in 3 days) and deducts withdrawals immediatly. Are they both using the ACH system, going through the Federal Reserve? Is ED on a different system as they only link to checking accounts? E-loan seemed to do instant transfers and could link to either checking or savings.

[krayziebone33]

Re: Summary post of online MMA rates

What does ACH stand for?

[BTC]

Re: Summary Post of Online Savings Rates

Automated Clearing House.

[wyett3]

Re: Summary Post of Online Savings Rates

What does ACH stand for?

Automated Clearing House.

Yes, other terms here are EFT (Electronic Funds Transfer) and bank wires. Bank wires are instant money transfers (costing $15+ to initiate) and ACH transfers are "virtual checks" (free or small charge to initiate) both are EFT's. The Check 21 (?) system allows banks to process the physical checks you write electronically too.

[risknothing]

Re: Summary Post of Online Savings Rates

Capital one back up to 5%

[poundwise]

Re: Summary Post of Online Savings Rates

Capital one back up to 5%

Yes, that happened last month. I made that update on January 21st.

Thanks for keeping an eye out though.

[poundwise]

Re: Summary Post of Online Savings Rates


Reviewed listing today: February 28th

No rate changes


View the first post in this thread to see all the offerings and rates

(Or click the link in my signature)

[krayziebone33]

Re: Summary Post of Online Savings Rates

Yes, other terms here are EFT (Electronic Funds Transfer) and bank wires. Bank wires are instant money transfers (costing $15+ to initiate) and ACH transfers are "virtual checks" (free or small charge to initiate) both are EFT's. The Check 21 (?) system allows banks to process the physical checks you write electronically too.

Yeah, I remember reading about how clearing houses work and all that. Thank you all for being so informative and helping me out at every turn.

[poundwise]

Update: Wednesday, March 14th

Ultima Bank rate drops from 5.27% APY to 5.12% APY

Stonebridge Bank updated their web site; link has been updated

[poundwise]

I reviewed accounts today, March 20th; no changes.

[kv968]

GMAC from 5.00% APY to 5.10% APY

[kv968]

egad! PW! how did you miss that?

for shame

Go easy on PW, she's doing a great job Actually I'm kinda surprised that it actually went up with what they're going through. Not complaining though