dreamer100
Full Member
Cash: $ 12.10
Posts: 50
Joined: 20 Jun 2007
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| Online Banking |
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Does anyone have experience with online banking. It seems like the best way to get superior savings account rates is through the online banking methods?
Can you share any experiences, good or bad?
Thanks.
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Fri Jun 29, 2007 4:11 pm |
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efflandt
Senior Member
Cash: $ 80.45
Posts: 401
Joined: 25 Apr 2005
Location: Elgin, IL USA
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I do online banking for checking account, many payments, home loan, etc.
As far as savings, I have my IRA's at Fidelity. In a taxable account you have a choice for core cash of variable interest (based on cash balance), taxable money market ~5% (default for IRA's), or federal tax-free money market currently 3.37%. And you can get into other mutual funds, ETF's, stocks, etc. Although, it takes $50k in assets there (covered by my IRA's) to get reasonable trade fees for ETF's/stocks. Electronic transfers can be done within a couple of days (once set up), or you can get debit card or checks. And they have a branch office in my area if I need to do something immediately. So I have not had the need to check out other high interest savings accounts.
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Sat Jun 30, 2007 12:24 am |
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Case-Face
Full Member
Cash: $ 0.35
Posts: 75
Joined: 21 May 2007
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| banking online |
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I do online banking only to transfer funds from one account to the next. Apparently the interest I earn on one of the accounts is really low and I need to adjust that. But online banking can be very convenient and helps you keep track of expenses if you don't do so by hand.
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Tue Jul 10, 2007 5:03 pm |
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iendeavors
New Poster
Cash: $ 0.40
Posts: 2
Joined: 15 Sep 2007
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I've been using a high-yield savings account as a substitute for a CD. That allows me to have money that I can immediately use for investment purposes, rather than waiting for the 6-month CD to mature, etc. Seems to be working out great for me so far.
Develop powerful money habits and become wealthy.
Free article database at www.i-endeavors.com
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Sat Sep 15, 2007 8:00 pm |
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rhino2
Member
Cash: $ 2.10
Posts: 10
Joined: 17 Sep 2007
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Yea, you can get good rates from online banking.
ingdirect.com (has good savings account and super easy to open a CD in ANY amount. Checking account earns interest, but no paper checks !)
wamu.com (has good checking, savings and does have CDs, but have to open them in $1000 increments. Has free paper checks.)
hsbc.com (has a ok rates savings account, pain in the butt to use though)
There is also www.emigrantdirect.com ... I haven't used it. It looks like it has good rates, but also looks kind of shady??
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Mon Sep 17, 2007 8:15 am |
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coaster
Senior Advisor
Cash: $ 1318.80
Posts: 6496
Joined: 11 Oct 2005
Location: Wisconsin
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In what ways does it look shady?
~Tim~
Eye Candy : Why Whimsy
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Mon Sep 17, 2007 12:37 pm |
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rhino2
Member
Cash: $ 2.10
Posts: 10
Joined: 17 Sep 2007
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quote:
Originally posted by coaster
In what ways does it look shady?
Those big cartoon graphics and don't look as professional done as the other banking sites.
Actucally, I looked at it again... it is FDIC; so it should be legit.
I'll probably sign up with them since they have good rates.
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Mon Sep 17, 2007 5:19 pm |
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coaster
Senior Advisor
Cash: $ 1318.80
Posts: 6496
Joined: 11 Oct 2005
Location: Wisconsin
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Emigrant bank has been in business since 1850. I think your money will be safe there. 
~Tim~
Eye Candy : Why Whimsy
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Mon Sep 17, 2007 5:57 pm |
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Apollo
Senior Member
Cash: $ 73.85
Posts: 360
Joined: 10 Sep 2007
Location: New York
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| Re: Online Banking |
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On-line banking is great for your checking account and to pay all kinds of bills and do other transactions. It is very simple and you shouldn't have any problems with it.
To have a savings account is just as easy and rates could be better then 'traditional' savings accounts. A Money market account is also something you may want to look into, depends on what you want to do with your savings.
I can only recommend on-line banking.
It is not smart to play it safe but it is safe to play it smart.
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Mon Sep 17, 2007 9:44 pm |
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rhino2
Member
Cash: $ 2.10
Posts: 10
Joined: 17 Sep 2007
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What's a good place for Money Market Accounts?
The only one I know of is Discover (the credit card company) - they have decent rates on MM accounts; but would like a few other sources to compare them against.
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Mon Sep 17, 2007 11:41 pm |
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coaster
Senior Advisor
Cash: $ 1318.80
Posts: 6496
Joined: 11 Oct 2005
Location: Wisconsin
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Try this website: www.bankrate.com
Click on the "CDs and Investments" tab and then the MMA/MMF drop-down menu.
~Tim~
Eye Candy : Why Whimsy
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Mon Sep 17, 2007 11:45 pm |
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pf101
Senior Member
Cash: $ 62.25
Posts: 311
Joined: 12 Sep 2007
Location: Portland, OR
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quote:
Originally posted by rhino2
What's a good place for Money Market Accounts?
The only one I know of is Discover (the credit card company) - they have decent rates on MM accounts; but would like a few other sources to compare them against.
Where do you hold your investments? Many fund companies/brokers have MMAs which are competitive so it may make sense to keep your money there.
Personal Finance 101
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Tue Sep 18, 2007 2:39 am |
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switze22
Contributing Member
Cash: $ 5.70
Posts: 27
Joined: 13 Nov 2007
Location: East Lansing
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I use Lasalle and I like it very much. Very easy to use.
-/- David -/-
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Tue Nov 13, 2007 5:38 am |
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urvi88
Contributing Member
Cash: $ 8.40
Posts: 41
Joined: 12 Jun 2009
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quote:
Originally posted by switze22
I use Lasalle and I like it very much. Very easy to use.
Thanks for sharing, i will surly see to it.
Personal financial Planning
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Wed Sep 30, 2009 10:19 am |
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