Best online savings account?.. ING Direct? AMEX Personal Savings?

[Bee]

Originally Posted by Patrick Bateman

[color= rgb(255, 0, 0)]I have some extra funds I don't even want to look at for the next 6 months (minimum).. Rather than keeping it in my regular bank account, any way I can make it grow until I figure out what I want to do with it? Can anyone school me on these online savings accounts?

[/color]
http://home.ingdirect.com/index.html[color= rgb(255, 0, 0)]

[/color]http://personalsavings.americanexpress.com/[color= rgb(255, 0, 0)]


[/color]

Funny you made this thread, I had decided i wanted to do the same thing about a week or 2 ago.
After doing the research i went with the AMEX High yield savings account.

Mainly because it was a higher interest rate and because it was the name most familiar with me.
They ask for a lot of info and you have to wait to confirm the test deposits so you can link AMEX account to your other savings account
But the process was pretty quick.

Also what impressed me was how good they're customer service was. It's 24/7, I had a login problem and wanted my routing number
and they were able to help me out with both over the phone and it was like 4am

 

[Bee]

Originally Posted by Patrick Bateman

[color= rgb(255, 0, 0)]I have some extra funds I don't even want to look at for the next 6 months (minimum).. Rather than keeping it in my regular bank account, any way I can make it grow until I figure out what I want to do with it? Can anyone school me on these online savings accounts?

[/color]
http://home.ingdirect.com/index.html[color= rgb(255, 0, 0)]

[/color]http://personalsavings.americanexpress.com/[color= rgb(255, 0, 0)]


[/color]

Funny you made this thread, I had decided i wanted to do the same thing about a week or 2 ago.
After doing the research i went with the AMEX High yield savings account.

Mainly because it was a higher interest rate and because it was the name most familiar with me.
They ask for a lot of info and you have to wait to confirm the test deposits so you can link AMEX account to your other savings account
But the process was pretty quick.

Also what impressed me was how good they're customer service was. It's 24/7, I had a login problem and wanted my routing number
and they were able to help me out with both over the phone and it was like 4am

 

[rfx45]

I have actually considered the AMEX savings since their rate is the highest right now but I just don't like it that they do no have branches. I had CITI savings before and it was easy when I took all my money, just go to the branch and get a check.

Damn it seemed like it was just yesterday when the rate was hitting 5%.

 

[rfx45]

I have actually considered the AMEX savings since their rate is the highest right now but I just don't like it that they do no have branches. I had CITI savings before and it was easy when I took all my money, just go to the branch and get a check.

Damn it seemed like it was just yesterday when the rate was hitting 5%.

 

[patrick bateman]

[color= rgb(255, 0, 0)]Appreciate all the information guys, thanks. [/color]

 

[patrick bateman]

[color= rgb(255, 0, 0)]Appreciate all the information guys, thanks. [/color]

 

[pitman13]

Originally Posted by RFX45

Damn it seemed like it was just yesterday when the rate was hitting 5%.

  

 

[pitman13]

Originally Posted by RFX45

Damn it seemed like it was just yesterday when the rate was hitting 5%.

  

 

[viiheaven]

I started with HSBC Internet Savings when it was 1.3%. Within a month it went from 1.1% to 1% to .90%

 

[viiheaven]

I started with HSBC Internet Savings when it was 1.3%. Within a month it went from 1.1% to 1% to .90%

 

[oidreez]

Originally Posted by viiheaven

I started with HSBC Internet Savings when it was 1.3%. Within a month it went from 1.1% to 1% to .90%

i started when it was about 4%

 

[oidreez]

Originally Posted by viiheaven

I started with HSBC Internet Savings when it was 1.3%. Within a month it went from 1.1% to 1% to .90%

i started when it was about 4%

 

[imreallydirknowitzki]

Originally Posted by mytmouse76

i have an ING checking account...

i just put money in there and forget about it most of the time...it hasnt collected much interest but at least its not in my primary savings where i'm tempted to mess with it

 

[imreallydirknowitzki]

Originally Posted by mytmouse76

i have an ING checking account...

i just put money in there and forget about it most of the time...it hasnt collected much interest but at least its not in my primary savings where i'm tempted to mess with it

 

[proper english]

Originally Posted by usainboltisfast

At 6 months would it even make a difference. If you dont mind how much are you looking to invest? Honestly you could just spend it on boat load of hyped sneakers at retail and flip them to make more money than any savings account out there right now. Hell better than all the CDs.

lolwut. you are missing the point of having a savings acct. 

 

[proper english]

Originally Posted by usainboltisfast

At 6 months would it even make a difference. If you dont mind how much are you looking to invest? Honestly you could just spend it on boat load of hyped sneakers at retail and flip them to make more money than any savings account out there right now. Hell better than all the CDs.

lolwut. you are missing the point of having a savings acct. 

 

[rfx45]

Originally Posted by oidreez

Originally Posted by viiheaven

I started with HSBC Internet Savings when it was 1.3%. Within a month it went from 1.1% to 1% to .90%

i started when it was about 4%

Mine was 5.5% at Washington Mutual, then became Chase and now it's at .35%. 

 

[rfx45]

Originally Posted by oidreez

Originally Posted by viiheaven

I started with HSBC Internet Savings when it was 1.3%. Within a month it went from 1.1% to 1% to .90%

i started when it was about 4%

Mine was 5.5% at Washington Mutual, then became Chase and now it's at .35%. 

 

[jthagreat]

Rfx said what I came to say. I personally use emigrantdirect.com they use to offer 5+% when I started some years ago and now its hovering at an even 1(last time I looked) doesn't seem as useful as it once was, but I recommend online savings acct's to everyone, cause you RARELY actually NEED the money. Good luck yall.

 

[jthagreat]

Rfx said what I came to say. I personally use emigrantdirect.com they use to offer 5+% when I started some years ago and now its hovering at an even 1(last time I looked) doesn't seem as useful as it once was, but I recommend online savings acct's to everyone, cause you RARELY actually NEED the money. Good luck yall.

 

[usainboltisfast]

Originally Posted by proper english

Originally Posted by usainboltisfast

At 6 months would it even make a difference. If you dont mind how much are you looking to invest? Honestly you could just spend it on boat load of hyped sneakers at retail and flip them to make more money than any savings account out there right now. Hell better than all the CDs.

lolwut. you are missing the point of having a savings acct. 

A savings account is an interest bearing account am I right? His principle is only 1k he will only be making tops like 30 bucks off the money. He could spend a fraction of his principle on a pair of sneakers and make more than that. Unless OP has self control problem I dont see why this couldnt be an alternative to opening a low interest rate savings account for 6 months.

 

[usainboltisfast]

Originally Posted by proper english

Originally Posted by usainboltisfast

At 6 months would it even make a difference. If you dont mind how much are you looking to invest? Honestly you could just spend it on boat load of hyped sneakers at retail and flip them to make more money than any savings account out there right now. Hell better than all the CDs.

lolwut. you are missing the point of having a savings acct. 

A savings account is an interest bearing account am I right? His principle is only 1k he will only be making tops like 30 bucks off the money. He could spend a fraction of his principle on a pair of sneakers and make more than that. Unless OP has self control problem I dont see why this couldnt be an alternative to opening a low interest rate savings account for 6 months.

 

[frankmatthews]

Uh, you put a thousand dollars in one of these accounts for 6 months and your looking at about $5 in interest. Hardly even worth the effort of setting up a new account and transfering money in imo. Intrest rates are at a all time low right now, any kind of account that pays interest is not even worth it. Take your money to a full service broker and i'm sure they can do a little better with it even after their fees.
Dude said investing

 

[frankmatthews]

Uh, you put a thousand dollars in one of these accounts for 6 months and your looking at about $5 in interest. Hardly even worth the effort of setting up a new account and transfering money in imo. Intrest rates are at a all time low right now, any kind of account that pays interest is not even worth it. Take your money to a full service broker and i'm sure they can do a little better with it even after their fees.
Dude said investing

 

[finnns2003]

Originally Posted by FrankMatthews

Uh, you put a thousand dollars in one of these accounts for 6 months and your looking at about $5 in interest. Hardly even worth the effort of setting up a new account and transfering money in imo. Intrest rates are at a all time low right now, any kind of account that pays interest is not even worth it. Take your money to a full service broker and i'm sure they can do a little better with it even after their fees.
Dude said investing

I recently closed my ING account because of this. Honestly, 1% yields, I could do better playing lotto cards.

I just put my money in my brokerage now, although I forgot I have an HSBC account with that crappy .90%