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Old 08-29-2017, 08:15 AM
 
Location: Illinois USA
291 posts, read 147,623 times
Reputation: 211

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Can you guys recommend online banks you used and your experience

I'm interested to get the most out of the Money market accounts there having better interest rate than brick and mortar banks

are they FDIC insured ? if so how can I verify it ?

I was looking at Barclays, Ally and Capital one having some reasonable interest rates
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Old 08-29-2017, 08:22 AM
 
Location: MID ATLANTIC
7,598 posts, read 17,614,249 times
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I do mortgage loans and a large number of my applicants invest with Capital One. Cap One and ING Orange combined and now under a single umbrella as Cap One Investments and Cap One 360. I've been looking at Cap One recently - ING was known for their user friendly platform.

If your going with MM, the banks will display the FDIC logo on their website. Obviously, investment accounts are subject to market fluctuations. But cash accounts MM) should be fine.
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Old 08-29-2017, 08:23 AM
 
2,731 posts, read 1,211,360 times
Reputation: 2089
Amex Personal Savings offers teh highest rates for savings accounts.
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Old 08-29-2017, 08:24 AM
 
Location: Minnesota
977 posts, read 816,855 times
Reputation: 1447
Quote:
Originally Posted by Dad01 View Post
Can you guys recommend online banks you used and your experience

I'm interested to get the most out of the Money market accounts there having better interest rate than brick and mortar banks

are they FDIC insured ? if so how can I verify it ?

I was looking at Barclays, Ally and Capital one having some reasonable interest rates
To find out if a bank is FDIC insured: https://research.fdic.gov/bankfind/
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Old 08-29-2017, 10:57 AM
 
Location: Illinois USA
291 posts, read 147,623 times
Reputation: 211
Thanks guys I love this forum !
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Old 09-04-2017, 12:19 PM
 
Location: Austin, TX
16,688 posts, read 39,304,746 times
Reputation: 9097
Quote:
Originally Posted by Dad01 View Post
Can you guys recommend online banks you used and your experience

I'm interested to get the most out of the Money market accounts there having better interest rate than brick and mortar banks

are they FDIC insured ? if so how can I verify it ?

I was looking at Barclays, Ally and Capital one having some reasonable interest rates
I have done business with Ally.com and Synchronybank.com for years, they both pay better interest rates than most other financial institutions. Both are FDIC insured up to $250,000 per person.

Ally.com is currently paying:
Online Savings: 1.20%
Money Market: 0.90%

Synchronybank.com is currently paying:
Online Savings: 1.20%
Money Market: 0.85%

I prefer Ally.com because I find it easier to use and do things such as set up beneficiaries on the accounts.
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Old 09-04-2017, 11:47 PM
 
2,798 posts, read 2,471,814 times
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I have used Ally.com for a few years and am very happy with it. Easy to open and set up an account, 24 hour customer telephone service, and the website is user friendly.
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Old 09-06-2017, 03:00 PM
 
505 posts, read 546,989 times
Reputation: 245
Since all out IRAs are in Schwab, we use Schwab. No complains.
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Old 09-06-2017, 03:05 PM
 
Location: North State (California)
28,142 posts, read 2,192,400 times
Reputation: 9825
Synchrony Bank

set it all up online. Very easy.
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Old 09-06-2017, 03:08 PM
 
Location: la la land
27,168 posts, read 11,338,839 times
Reputation: 19277
Ally Bank 1.20% same as Synchrony. We use them and our local credit union which pays 2.02% up to $10,000 in your checking account, interest checking requires using bill pay and making a certain number of debit card transactions but in addition to interest we also get unlimited ATM refunds.
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