Online Savings Accounts & Current Rates

[ukgaz]

Just got an email from FNBO Direct. Rate dropping to 1.25

[saverbootay]

If you have an active brokerage account with them, your savings account will not be converted to Discover.

I like their fast transfers as well. Not sure it's worth it for me to open a brokerage account though....

[poundwise]

Rates updated tonight, Thursday, February 18th.

Also, Capital One and Union FSB are added back to the list at 1.15% APY each.

[BTC]

It's kind of ironic that FNBO Direct lowered their "decent" rate today. I didn't even get email notification. They're still higher than any of my other savings accounts.

[Aleta]

Yes it went down from [B]1.40% to 1.25%[B]. It seems to be the trend now.now.

[ken1706]

Looks like Nationwide Bank's MMA APY has fallen to 1.40% (was 1.45%)

[mrvirgo]

Is this thread only for banks? I have all my money in Alliant Credit Union. Their online savings pays 2% and the checking pays 1.75%. I took out all my money from from online bank savings accounts months ago and brought it all to Alliant. I just got tired of watching bank APYs drop to practically nothing.

[CarolBee]

I got an email today that HSBC's rate was dropping to 1.10%. Ugh.

[ken1706]

Looks like March is going to be another bad month for us savers. Some new rate cuts:

ING Direct 1.15% to 1.10% APY
Dollar Savings Direct 1.40% to 1.30% APY
Savings Square 1.45% to 1.35% APY

I sure hope these rate cuts end soon.

[JoshuaHeckathorn]

I just found out about my HSBC Direct, now HSBC Advance account today too. 1.10%...bummer.

And my former Countrywide, now BOA accounts are absolutely embarrassing. I'm still trying to empty them out after several months because they have so many new restrictions and fees associated with external bank transfers. BOA is the worst.

[ken1706]

When will the rate cuts end???

Ally, my favorite online bank, just cut their MM and Savings account yield from 1.39% to 1.30% APY

[poundwise]

Is this thread only for banks?

Yes. Simple online bank savings and money market accounts. There are several credit unions that would qualify, however, membership to most credit unions is not readily open to everyone and so, rather than sort out all of the details of joining such, this list only shows accounts that are open to everyone in the United States.

[poundwise]

List updated today:

American Express down from 1.50 to 1.30
SavingsSquare down from 1.45 to 1.35
Nationwide down from 1.45 to 1.35
Dollar Savings Direct down from 1.40 to 1.30
Ultima Bank down from 1.40 to 1.30
Ally Online Savings down from 1.39 to 1.30
Ally Money Market down from 1.39 to 1.30
HSBC down from 1.20 to 1.10
ING Direct down from 1.15 to 1.10

[weissheit]

Yes. Simple online bank savings and money market accounts. There are several credit unions that would qualify, however, membership to most credit unions is not readily open to everyone and so, rather than sort out all of the details of joining such, this list only shows accounts that are open to everyone in the United States.

That being said, posters should not let the fact that CU information will not hit "the list" deter them from posting information about a CU that offers a good rate. The readers/followers of this thread can then look into the details and see if they qualify. I've been very happy w/ the 3.5% APY I get with my Investor checking at Apple FCU in Northern Virginia. Turns out I qualified because I am an alumni of the area's local state school. Many CUs have very broad criteria for membership. CUs are very competitive in this market/interest rate environment and on average they have much better customer service.

[poundwise]

That being said, posters should not let the fact that CU information will not hit "the list" deter them from posting information about a CU that offers a good rate.

True.

People, including yours truly, often post about interest checking accounts, CD rates, etc. so posting about a good rate with a credit union is, of course, permitted. Just don't expect it to appear on this particular listing of online savings accounts.