thetxstang
Senior member
I just came into some money and was looking for a place to hold it temporarily until I can figure out what to do with it. More specifically, I'm looking for a money market or savings account with a high APY.
It seems like many here have an account with one of the "big three" (as I call it); namely, ING Direct, HSBC, or Emigrant Direct. However, I was wondering if anyone has experience with Amboy Direct. They're offering a nice 5.05% APY presently, right on par with HSBC.
From the research I've done and the posts I've read here, there seems to be pros and cons to each offering. Here's what I've come up with thus far:
HSBC = Presently offers one of the very best APYs around, but account interface is clumsy and evidently takes awhile to set up an account and get everything squared away. Also, some report it takes too long when transferring funds between accounts.
Emigrant Direct = I suppose I haven't heard much negativity about them, but nothing overly glowing, either. They don't offer the top rate APY currently, but from what I've read, they seem to be easy enough to use and transferring funds isn't too much of a hassle.
ING Direct = Seems like this is the consensus favorite, with very easy account setup, activation, and fund transfers. Only problem is, their APY rate isn't nearly so competitive at present time.
Is my understanding correct regarding each of these services? And additional insights I might've overlooked? Does anyone know how Amboy Direct stack ups against them?
It seems like many here have an account with one of the "big three" (as I call it); namely, ING Direct, HSBC, or Emigrant Direct. However, I was wondering if anyone has experience with Amboy Direct. They're offering a nice 5.05% APY presently, right on par with HSBC.
From the research I've done and the posts I've read here, there seems to be pros and cons to each offering. Here's what I've come up with thus far:
HSBC = Presently offers one of the very best APYs around, but account interface is clumsy and evidently takes awhile to set up an account and get everything squared away. Also, some report it takes too long when transferring funds between accounts.
Emigrant Direct = I suppose I haven't heard much negativity about them, but nothing overly glowing, either. They don't offer the top rate APY currently, but from what I've read, they seem to be easy enough to use and transferring funds isn't too much of a hassle.
ING Direct = Seems like this is the consensus favorite, with very easy account setup, activation, and fund transfers. Only problem is, their APY rate isn't nearly so competitive at present time.
Is my understanding correct regarding each of these services? And additional insights I might've overlooked? Does anyone know how Amboy Direct stack ups against them?
