Online Savings Accounts & Current Rates

[weissheit]

You got a link for the toxic mortgage lending banks? thanks

No link just pay close attention to the business news regarding the credit crunch, housing market & mortgage lending issues that are developing. Good luck.

[noppenbd]

Provident increasing their rates to 3.75%.

High Yield Online Savings Account now at Provident Direct

[Aleta]

My particular WaMu is offering a CD at 5.00APY for 8 months. They're only offering it for 1 week. It was tempting, but my gut feeling told me to hold off. Their rating is just too low right now.

[weissheit]

noppenbd - good news, I got an e-mail from them also today.

Aleta - Yes bankrate.com has them at one star & a 5 for CAEL the only lower rating is "closed" which the rumor mill says maybe in the offing.

[saverbootay]

My particular WaMu is offering a CD at 5.00APY for 8 months.

Were you trying to withdraw money and that's why they offered it to you? I'd take that.
I think Wamu is going to end up being one of those "institutions that are too big to fail."

Is it true that ProvidentDirect doesn't have any ACH features on their website?

[Aleta]

Yes, I was closing out a CD. When you enter the bank for sevices other than using the tellers, you have to sign in and state your reason for being there. I went in early on a Friday morning and I was the 6th person signed in and 4 were closing their accounts.

I don't know about it being a special rate to me because the teller that was present had just learned about it. The manager said that it was a special promotion for just one week at that particular bank. They just scare me.

[m3racer]

noppenbd - good news, I got an e-mail from them also today.

Aleta - Yes bankrate.com has them at one star & a 5 for CAEL the only lower rating is "closed" which the rumor mill says maybe in the offing.

Yikes!!

[m3racer]

Nationwide Bank also has a savings bank division. They're offering 3.5% apy.

[noppenbd]

Is it true that ProvidentDirect doesn't have any ACH features on their website?

I'm not sure what you mean by "ACH features" but you are definitely able to link an outside checking account and transfer back and forth.

[saverbootay]

That's cool. Thanks.
Bankrate has Provident Direct at 2 stars. EmigrantDirect is at 4 stars though.

[weissheit]

Capital one has raised their rate for their online direct bank for accounts w/10k+ to 3.55 APY; if your a costco member then its 3.75 APY

[weissheit]

Why American Savers Have Drawn the Short Straw

Our unjust rewards for being conservative savers, let hope the end of the article is correct and that even our severely devalued, saved dollars still coronate us as kings

[saverbootay]

Looks like the CEO of Wamu was forced to retire. Maybe we're closer to Chase buying out Wamu now. Apparently the new CEO and the current COO have ties to JPM Chase.

[poundwise]

Updates | September 8th

APY increases:

• AmTrust Direct from 3.50 to 4.00
• Provident Direct from 3.50 to 3.75
• Union Federal Savings Bank from 3.50 to 3.75
• Emigrant Direct from 2.75 to 3.00

APY decreases:

• CapitalOne from 3.50 to 3.00
• AARP from 3.20 to 3.00

Added to list:

• DollarSavingsDirect (from Emigrant Direct, replaced Banco Fortuna)

Dropped from list:

• Banco Fortuna
• FirstFedDirect (site now only shows CD offer, not online savings)
• UFBDirect (rate dropped below list threshold)
• CountryWide (rate dropped below list threshold)

[saverbootay]

Here's a credit union offering 3.75% savings accounts. They're in San Francisco.

www .alliantcreditunion.org