Online Savings Accounts & Current Rates

[poundwise]

Changes today, 01/27/10:

Shorebank down from 1.70% to 1.09% and OFF LIST
CNB down from 1.70% to 1.50%
ING down from 1.30% to 1.25%
Union FSB down from 1.20% to 1.15% and OFF LIST

Shorebank certainly fell a long way. This is surprising due to the fact that they have offered a fairly steady, and comparatively high, rate for quite some time.

[saverbootay]

Clicking on the link to Discover Bank, it says 1.35% now.

[jeffmem]

Anyone else getting tired of these low interest rates? I just checked shorebank is now down to 1.24.. time to transfer yet again...

Closed out all my bank of america accounts too, they are a pain in the butt.

And the FDIC's limiting of interest is too overboard and too controlling...

[saverbootay]

Looks like SavingsSquare and Nationwide are a 1.45.
Dollarsavings is down to 1.40.
HSBC is down to 1.25.

Looks like DiscoverBank bought all the Etrade Bank accounts.

[BTC]

I've received no notification from E*Trade about Discover buying their savings accounts.

[GrimJack]

Here in Seattle:
Verity Credit Union pays 0.2500% for Savings and 2.5207% for Checking (the APY works out to be 2.55%.
They have a $40,000 limit on how much they will pay that interest on.
I haven't seen anything to compare with the checking interest

[BTC]

I called E*Trade this morning. If you have an active brokerage account with them, your savings account will not be converted to Discover. I'm not sure if checking accounts are also part of their arrangement, but I guess all of my accounts, brokerage, checking & savings, will remain with E*Trade. I'm happy about that if for no other reason than how quickly I can transfer funds to other accounts using E*Trade.

[jeffmem]

Just a reminder out there to the people who want to sign up for a Redneck account, keep in mind they have a limit of how much you can put in or take out which is 2500 a day. Unless you go through your bank using like a billpay or something, but getting it back out some banks won't help you, or you have to have them cut you a check. I am finding this limit highly annoying, but.... up until this point, they have no interest in changing it.

And wow shorebank has disappointed. I had money with them from April until just this month when they dropped their rates... And now you say at 1.09, that is terrible... Don't know what happend to them.

[feh]

Just a reminder out there to the people who want to sign up for a Redneck account, keep in mind they have a limit of how much you can put in or take out which is 2500 a day. Unless you go through your bank using like a billpay or something, but getting it back out some banks won't help you, or you have to have them cut you a check. I am finding this limit highly annoying, but.... up until this point, they have no interest in changing it.

I just opened an account w/ them last month, and thought the same thing, but the limit isn't per day; it's per transfer. I wanted to deposit $10K, and I simply made 4 different deposits (all on the same day).

And wow shorebank has disappointed. I had money with them from April until just this month when they dropped their rates... And now you say at 1.09, that is terrible... Don't know what happend to them.

Shore Bank's failings is why I opened the Redneck account...

[jeffmem]

Ahhhhh, I thought it was 2500 per day, when I called them I even said those words and they said yes... so I figured I was right.. I will have to go back and check that, still a pain in the butt, but better than per day. Thanks for pointing out my error.

Shorebank has been a disappointed. For six months they were ok, and then wam.

And Discoverbank is down to 1.35 now folks.

[BTC]

So, with Redneck Bank you can withdraw no more than 15K per month? That would be a fairly significant limitation in the eyes of some folks.

[jimmycolorado]

I'm seeing web ads now for an American Express "high-yield" savings account that just started yesterday (02/17/10) which has a rate of 1.50%.

I'm also seeing ads for Capital One's new online savings, with a rate of 1.45%, but has a feature where four times a year they'll apply a 10% bonus to the interest you've already earned. So if you've gotten $100 in interest, they'll give you a bonus $10. Not sure how it all works out, and let's face it, these are opening rates so they're all bound to be teasers and will drop like stones in no time. But a heads up none the less.

[ukgaz]

ING Direct down to 1.15% - Is there no end to this downfall?

[BTC]

I also noticed that ING's yield had dropped again when I logged into my account this morning. The only online savings account I have that pays a "decent" rate anymore is FNBO Direct.

[Thrif-t]

I had a 4.5% CD that just matured and there is no where to put it. The savings accounts at ING are a higher rate then locking into a CD. Pathetic. I think I need to go back to page 1 and see about this Redneck you are all talking about.

ETA: 2% wow. I'll do you all a favor and just let it sit in my ING...for surely if I move it to Rednock, it'll drop like a hot potato. No need to thank me ;-)