Money Management And Budgeting

High Interest Yield Savings?

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SunDevilsFan

Joined: 09 Nov 2007
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Posts: 194
Location: Sunny Arizona

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Subject: High Interest Yield Savings?

Wed Nov 14, 2007 6:13 am

Not trying to promote one brick and morter bank to another. Or, Internet Bank to another....

But I was wondering if any of you utilize such banks where you receive at or above 4% in your savings accounts??

I was tired of getting basically nothing from the traditional bank that I researched a little on the net and found several sites/places on the net (I WAS ONLY INTERESTED IN FDIC BANKS)... and I began to try them out.

What about you??? Just curious if any of you ever explored what the other alternatives are...

UVACavFAN
Guest

Subject: ING direct

Wed Nov 14, 2007 6:44 am

ING direct i believe has a good intrest rate also a buddy of mine was telling me about Delta Bank was a good one.. they are both online and i'm not sure about the FDIC

SunDevilsFan

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Wed Nov 14, 2007 6:48 am

Hey UVACavFAN......Im a fellow Virginian....well born and raised there...

I use ING.... have been for several months...needless to say... I like it much more than the old tradional one

SunDevilsFan

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Wed Nov 14, 2007 6:49 am

meant to add that I dont know much about the Delta Bank.... But there are tons of them out there...

debtstinker

Joined: 03 Nov 2007
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Wed Nov 14, 2007 12:37 pm

Hey Sun, thanks for the post, i'm pretty interested in this question too. While i've never used big banks like Wamu or Citi, i've heard horrible things about them. I would love to learn about a high yield savings account and the specs on them! may finally come into a little extra and would like to invest/save

SunDevilsFan

Joined: 09 Nov 2007
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Posts: 194
Location: Sunny Arizona

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Wed Nov 14, 2007 5:50 pm

To be honest with you, I have very little use for or interest in the Big Hitters... Bank of America, WAMU, CHASE, you name it...

I do have one checking account with BOA (free usage of course)... I only use that to deposit checks into and transfer to my internet banks... where I get a better deal interest wise.....

I have been using ING for a couple of months and everything seems to be okie dokie...

As long as I can get a better return from the net banks, I will never use the tradional brick and morter ones again...

Just think of it this way... the tradional banks didnt build those fancy buildings just because they have pretty smiles on their faces!!! They did it by charging outlandish fees.....

The net banks don't have that problem.....

Anyway, whatever you do, make SURE its FDIC......

debtstinker

Joined: 03 Nov 2007
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Wed Nov 14, 2007 9:50 pm

wow that's an interesting perspective, never thought of it that way. I have heard of ING but never looked into using it. sounds like you have to be a corporate ceo to use that. i don't know why i thought that, maybe cause of their commercials. BOA treats you well too? thanks for the leads, I'll look into them. How do I make sure it's FDIC insured? go to the FDIC website. I may answer my own question here in a little Smile

thanks again!

SunDevilsFan

Joined: 09 Nov 2007
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Posts: 194
Location: Sunny Arizona

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Thu Nov 15, 2007 12:51 am

well, their site did say they are FDIC.... as for looking up on the FDIC website (or something similiar) I have never thought about it... You gave me something to think about, debtstinker!!! I feel confident that ING is FDIC.. They have been around for a while...

Right now my primary, functional bank accounts...3 checking and 2 savings are with USAA... all of which charge me ZILCH for any sort of fees EXCEPT if I have overdrafts... Which I havent...

I read last night about some decent interest rate checking accounts and savings...better than I am getting at USAA... and they are also internet banking...and FDIC... I am going to check it out....

goodnatured

Joined: 03 Nov 2007
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Thu Nov 15, 2007 2:26 am

Wow, I would be nuts with more than one checking account. I have a small savings. The two accounts are at two different institutions. I use our credit union at work for savings, but never have much in it.

Laura

Joined: 21 Jun 2007
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Thu Nov 15, 2007 4:40 am

Thats great Sun. Do tell us as well...would like to know about these. Its good that they are FDIC. I dont know about Delta Bank as well. Any light upon the matter?
_________________
Regards,
Laura.

SunDevilsFan

Joined: 09 Nov 2007
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Thu Nov 15, 2007 6:16 am

well I looked at bankrate.deleted.....

I reviewed the internet bank sites that had interest barring accounts.... It appears to me so far that I could better myself with this option.. So far I can't find anything else that comes close... traditional wise..

debtstinker

Joined: 03 Nov 2007
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Thu Nov 15, 2007 8:40 pm

Hi Sun, thanks so much for looking into all that for us. I would love to have a savings account with a reputable institution and a place that offers the best interest rate. USAA sounds great, i'll look into them as well. keep in touch!

goodnatured

Joined: 03 Nov 2007
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Sat Nov 17, 2007 3:56 pm

is there a referral link that you could pm us, do you get any kind of credit for referring people. My bank give you and the new customer a gift. You may want to check that out, just incase there is some perk that you may get if someone here decided to go with an account with an institution that you are currently involved with, just a thought.
_________________
Goodnatured,

Trying to become and stay debt free, thank you for all your help and support!

Guest

Sat Nov 17, 2007 6:10 pm

that'sa an interesting thought too! yeah if you get some kind of credit or anything for referral why not use it on us? i guess you'll have to pm us the information on that though. we have something similar as well though i didn't get anything when i referred my sister Sad

big boo, oh well!

SunDevilsFan

Joined: 09 Nov 2007
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Posts: 194
Location: Sunny Arizona

6568 Magic Points

Sun Nov 18, 2007 3:15 am

Well... I dont receive perks or kick backs for any banks... Don't have a referral.

However, the perk I do receive is that I get a better return on my money with the internet banks than I do the traditional ones. So, I would rather receive 3-5 percent more return on my money than a toaster or any of the other perks that maybe out there...

Just wanted to throw the subject out in case others didnt know about it... So, basically for this household, the traditional brick and mortar are of the past ...

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