Mudcat Café Message Lyrics & Knowledge Personal Pages Record Shop Auction Links Radio & Media Kids Membership Help
The Mudcat Cafeawe



User Name Thread Name Subject Posted
pattyClink BS: Online Banking Savings Accounts (33) RE: BS: Online Banking Savings Accounts 25 Sep 07


More consistently high rates can be had through ING or Emigrants Bank. They offer routinely high rates in the range of 4.5% (which will be dropping soon since the Fed's action). They are both considered very stable firms.

Only hangup is you have to link them to your existing checking account, apparently to allow all transactions to be electronic. Seems a little weird but it also allows easy transfers in and out of your local checking.

Another option is to open a brokerage account, with an outfit that provides a good money-market fund as your default investment. Whatever is not in stocks and bonds is swept nightly into the money-market without fees. Muriel Siebert is a good example.   (others don't do this for little guys, leaving you with the same paltry 0.5% you were getting in your checking -- so be very careful about which one you're getting.) With the brokerage, if you ever want to branch out into other investments, you're all set up to do so.

If you want to stay with a local bank, look into short-term CDs that roll over every 3 months.


Post to this Thread -

Back to the Main Forum Page

By clicking on the User Name, you will requery the forum for that user. You will see everything that he or she has posted with that Mudcat name.

By clicking on the Thread Name, you will be sent to the Forum on that thread as if you selected it from the main Mudcat Forum page.

By clicking on the Subject, you will also go to the thread as if you selected it from the original Forum page, but also go directly to that particular message.

By clicking on the Date (Posted), you will dig out every message posted that day.

Try it all, you will see.