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Come on people, it's the year 2009!
Start taking advantage of banking opportunities online!
After reading several threads about people asking where to put their money, I realized I kept on giving the same answer.
If you want the highest return for low risk, move your money to an online savings account. The rates can change anytime, but most of the competitive ones have rates that are ABOVE CD rates at your local bank.
E-Trade 3.01% APY
HSBC 2.60% APY
ING Direct 2.50% APY
Emigrant Direct 2.50% APY
*rates are as of January 9, 2009
Never heard of these companies? Do some research and read reviews.
I've been using E-trade for years and have had great service.
Often times, online banks will also offer CD specials that have higher rates than the savings accounts. If you don't want to be locked in, go with the online savings.
If you have any questions, ask them here.
If anyone else has any information, please post it.
I guess it depends with how you pay for things and how comfortable you are with online banking but to me the best deals are still rewards checking accounts. Yes, there are requirements (minimum number of debit cards transactions, electronic statements, etc) but you generally earn at least 5% on your money.
I'm worried about security on the internet. I trust the internet about as far as I can throw this computer. I don't give out account numbers, pin numbers or anything else.
I just renewed a CD at a bank at a rate comparable to those listed on the internet. I feel safer dealing with my local bank and know the people as well.
I'm worried about security on the internet. I trust the internet about as far as I can throw this computer. I don't give out account numbers, pin numbers or anything else.
I just renewed a CD at a bank at a rate comparable to those listed on the internet. I feel safer dealing with my local bank and know the people as well.
I value liquidity more than I fear the Internet. With a CD your money is locked in or you pay fees. I like my money to be agile enough to either be there if there is an emergency or an opportunity for better returns comes along.
You give out your account number every time you pay for something with a check or debit card. Whether it is in person or online.
However, if you can find a CD paying 6.31% I would love to know about it.
I value liquidity more than I fear the Internet. With a CD your money is locked in or you pay fees. I like my money to be agile enough to either be there if there is an emergency or an opportunity for better returns comes along.
You give out your account number every time you pay for something with a check or debit card. Whether it is in person or online.
However, if you can find a CD paying 6.31% I would love to know about it.
I seldom use checks or plastic. To remain anonymous, I pay cash as much as possible. Much safer. Also higher yields = higher risks. I was going by the rates listed by the OP. There are some junk bonds out there paying 10% or more, but they are risky.
I feel safer dealing with my local bank and know the people as well.
I never really liked ANY of the people at my local bank. I'd rather do everything online though, I guess it's just a different generation.
I do all banking, paying bills and a lot of shopping online.
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