Comments on: Your Best High Yield Savings Account?

By: Stephen - NYC

Stephen - NYC — Sat, 25 Apr 2009 20:43:07 +0000

For a long time now, I whenever I need to purchase something (product or service), I avoid any company that wastes money with naming rights. Granted, citibank played the john to the mets for the naming rights of the new stadium, but I’ve been banking with them for more years than I care to recall. So, I am not going to drop them JUST BECAUSE of the naming rights debacle. But let’s say I want a new bank, well, ING is out of the question. Why? Watch the new york city marathon in november and you’ll see why.
I am not always successful in my endeavor to avoid the naming rights johns but where I can do so, I do. Think of all the college bowl games. All the stadiums / parks / fields / centers / whatever. All the ‘events’ that exist just to promote a corporate john.
Like I am going to buy your stuff just because you decide to pay to name the thing.
What upsets me further is when supposedly objective journalists write up the names in stories. You might be able to forgive (if that’s the right word) if there was only one mention of the name in the story. No, sometimes, you get repeat mentions and then you have photo captions next to the story (not to mention on the front or back page of the newspaper, assuming the paper is still being printed these days).
/end of rant – sorry about it.

By: LinearChaos

LinearChaos — Wed, 08 Apr 2009 15:43:44 +0000

Yeah, I am with ING. Have been for years, started when they were close to 4% and have watched it drop.

I love ING and won’t switch to get a better rate. They are an awesome company and I will stick. I’ll just cross my fingers for the days when the rates start to climb again and I’ll keep stuffing my ING account with all the pennies I can scrounge.

Hey, my ING is worth more then a house right now.

By: James2

James2 — Sun, 05 Apr 2009 22:55:37 +0000

I just had my electric orange account at ING closed last week too! When I called, I was placed on hold for over an hour and I still do not know why. I cannot log in and get my money. This is really depressing because I loved that account.

By: James

James — Sun, 05 Apr 2009 16:46:44 +0000

I have been sticking with EmigrantDirect.com for a while. Their yield is steadily dropping like everyone else. I do like their rewards credit card that pays back 1.4% of all purchases and get deposited every 6 months.

By: AverageJoe

AverageJoe — Sun, 05 Apr 2009 13:22:20 +0000

Still at ING. Have 6 savings accounts with small balances, segregated for different household and bill payment budgeting throughout the year. Consistently outstanding customer service, which to me is a primary concern. I feel like a valued customer even though I’m a small fish. They’ve always had fair rates, but no one financial institution can stay at the top of the rate chart for long. I don’t feel like jumping around for the deal of the month for an extra $50 in interest. Just like any product that makes you feel good, price is not everything! Sometimes convenience and peace of mind win out….for example, that’s why I stick with my insurance agent, though I can probably beat his rate online. He has always been there for me and my family.

By: Gayle

Gayle — Sun, 05 Apr 2009 09:32:38 +0000

i am going to check some these 5+% rates. ING Direct is a risky bank i have learned. i do not trust them.
they routinely close accounts for no reason and when they do, they first block your login before notifying you. then they refuse to provide a current statement for the current period until the end of the quarter. my sister’s account had several transactions withdrawing from the linked accounts various fees for the closure that added up to over 300 dollars. then this week i saw this scary article:

http://watchingamerica.com/News/24352/ing-taking-risks-with-american-savings/

By: The Almost Millionaire

The Almost Millionaire — Sat, 04 Apr 2009 03:58:00 +0000

Believe it or not, I’m finding that small, local lending institutions are becoming a source of good deals here as they are pretty darn financially stable in most cases.

By: bigdon

bigdon — Sat, 04 Apr 2009 03:21:33 +0000

Go to highyieldcheckingdeals.com/ There is a list of banks some paying as high as 6%. I use these checking accounts as savings accounts. most require using debit card 10 times a month.

By: Carole

Carole — Sat, 04 Apr 2009 02:23:34 +0000

Both Redneck Bank (don’t laugh) and Evantage Bank are offering Mega Money Market accounts at 3.1%. I opened a Redneck account a few weeks ago, and the rate hasn’t dropped yet. They do seem to be a bit slow to post my deposits though, but it’s not like my cash was earning much where it was. Customer service over the phone has been great, which is not what I read about Evantage in other reviews.

By: BrewCrewFan

BrewCrewFan — Fri, 03 Apr 2009 22:20:20 +0000

It’s definitely worth looking into. I’ve had a rewards checking account for three months and have no regrets. While I manage the majority of my financial matters online, I do enjoy having a relationship with a local bank.

I’ve been meeting my 10 debt card transactions requirement by buying a gallon of gas with my debit card before using the gas rewards card to fill the rest of the tank.

Before you jump in, take a close look at the bank’s fees so you have a feel for the potential pitfalls. Talk to someone who’s been a customer for a while to see how they treat their customers.

By: Dan

Dan — Fri, 03 Apr 2009 21:45:52 +0000

There was a recent article on MSN about the higher yield banks. They are typically smaller banks but you can link here and do your research http://articles.moneycentral.msn.com/Banking/BetterBanking/banks-offer-big-perks-to-lure-savers.aspx

Some of the rates have changed, but still seem to be in the 4% to 5% range.

By: Jonathan

Jonathan — Fri, 03 Apr 2009 21:07:27 +0000

That seems to be a problem common to many online savings accounts. FNBO offers an immediate transfer for a small fee, as I assume others might do, but still…3 days is a long time to have money in purgatory!

By: Fairy Dust

Fairy Dust — Fri, 03 Apr 2009 19:03:21 +0000

Holy smokes, the interest rate on reward checking is 5.25% (the pack of gum one) and on savings is 3.10% (no requirements of any kind that I see but a max of $35K at that rate). Thank you for pointing this bank out!!

By: Fairy Dust

Fairy Dust — Fri, 03 Apr 2009 18:56:32 +0000

Thanks – I’ll check them out! I have no problem with gum

By: Ron

Ron — Fri, 03 Apr 2009 18:42:08 +0000

I’ve just started to save some significant funds for a down payment on a house. I fell into the rate chasing trap fast. Went from Dollar Savings to SmartyPig within 2 months. Now I’m thinking of putting everything in West Banks Rewards Checking account (5%). We already use our debit card more than a dozen timed a month doing grocery shopping and with other purchases that are part of our budget so aside from me tracking stuff on an excel spread sheet, we don’t have to make any changes to our life style. What does anyone else think?