Online Savings Accounts & Current Rates

[Jazzmint98]

ImaSaver...I think bankrate.com gives ratings on different banks.

[Aleta]

There is a system in Florida called Weiss Rating . I'll try to look it up.

[poundwise]

The FDIC has a listing of bank rating services. link

Ultimately, if a bank is FDIC insured, I wouldn't worry about it.

[Aleta]

Thank you poundwise. I just looked up the one above and it lists alot of companies that rank banks and also other financial products as well.

Managed Web Hosting, Dedicated Servers, Virtual Private Servers, Mail Servers, 100% Uptime!. fdic.gov/bank/individual/bank

[Ima saver]

I was trying to find a rating for Umbrellabank.

[poundwise]

I was trying to find a rating for Umbrellabank.

Yes, the link above for the FDIC web site provided multiple links for researching data on banks.

I don't put too much stock in the Bankrate ratings. Even so, I looked up the following, including Bankrate's rating:

Umbrella Bank is the online division of New South Federal Savings Bank.

Profile at A.M. Best's Banking Center

BauerFinancial gives New South Federal Savings Bank/Umbrella Bank a three and a half star rating - "good."

Bankrate gives Umbrella Bank a one star rating - "lowest rating."

And that is why I don't care too much for ratings, especially Bankrate's. BauerFinancial gives 3.5 stars while Bankrate gives 1. What does that tell you? Pretty much nothing.

If you want to find our more, through Weiss or one of the other rating services, you will most likely have to pay a fee for a report.

[Ima saver]

Well bankrate also gave umbrella bank a five star rating also. Very confusing??

[Jazzmint98]

I also prefer ING Direct. It is simple to transfer funds. The transferred funds are generally in the linked account within 1-2 days. I do have a savings account with IGO Banking, but it has taken up to 1 week to transfer funds online with that bank.

[poundwise]

I also prefer ING Direct. It is simple to transfer funds. The transferred funds are generally in the linked account within 1-2 days. I do have a savings account with IGO Banking, but it has taken up to 1 week to transfer funds online with that bank.

ING transfers are fine and the site is nice but the rate leaves a lot to be desired.

There are a multiplicity of banks offering greater interest that also have quick transfer times and solid sites. (See the first post in this thread, for instance.)

[Jazzmint98]

Does anyone have accounts with Shore Bank? I just wondered how their customer service, transaction time, etc. might compare to other online banks. Thanks in advance for any advice!

[savingtaker]

If you start the online application for FNBODirect, SavingsSquare and ShoreBank, it looks the same except for the colors. I wonder if they all outsource the online bank to the same company.

[sweeps]

UFB down to 5.12%.

Crap One has dumped its rate again... down to 4.00%.

[sweeps]

Emigrant (and BancoFortuna) down to 4.55%.

[savingtaker]

Rumors about Bank of America buying out Countrywide.

money.cnn.com/2008/01/10/news/companies/bac_countrywide/?postversion=2008011014

I wonder if that means the end of Countrywide's high-interest online accounts.

[krayziebone33]

Poundwise,

Have you ever thought about adding Paypal to the original list. They are offering 4.61% APY (I believe) . I'm not sure about the details or whether or not they're FDIC insured, but maybe you know more.