It’s just where I keep some liquid money for buying sites and online purchases and such, but it was a lot nicer when I was getting a decent amount of interest each month.

I have had only several thousand dollars in there for awhile now but am a little nervous about transferring a substantially larger sum. Are you saying they are absolutely, positively, without a doubt FDIC insured? Don’t mean to sound uneducated, but I kinda am. I am newly widowed and learning to play the money game. I fear most types of investments due the the large number of scams going on today. Given that I know very little, I am probably a good candidate for one so I am trying to educate myself as best I can. Thanks.

Thanks,

Michelle

Btw Jim, under WT Direct, you put ING Direct Bank Stats instead of WT Direct.

The average bank plays the sleeping dog game where they start you with a treat (high rate), then switch product names and drop your rate to near nothing when you’re asleep. ING and EverBank are the only two I’ve paid any attention to in the last several years because they seem to be competitive on a consistent basis and don’t play sleeping dogs.

One other thing, I like bankrate.com’s rating system now to know the financial strength of the institution. Before the financial crisis hit in 2008, Countrywide was offering a huge yield to stabilize it’s balance sheet. People unaware of the risks gladly signed up and when Countrywide got in trouble, there were quite a few depositors losing some sleep.