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What is the best online savings company?

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demon42

Member
First of all, I don't know anything about online savings, so feel free to enlighten me if I have some misconceptions!

This is what I'd like to see from an online savings account:
  • EASY transfers to/from my local credit union checking
  • A RELIABLY high interest rate. I see that HSBC has a good promo, but what happens afterwards?
  • No minimum balance
  • No suprising charges (Which is really ANY charge, to me)
I'm under the impression that almost any of the online banking talked about on Anandtech are trustworthy, but what online bank will I be the happiest, given the above, over a long period of time? I'm looking to maybe put something like $100 in to start out with, but I dont know how long it will last. How are HSBC, ING, Emigrant or Capitol One savings accounts?

What are your thoughts?
 
All of ING Direct, EmigrantDirect, and HSBCDirect have a pretty high interest rate, no hidden charges (I think one will charge you if you close the account before a certain amount of time, just check the terms & conditions), and no minimum balance (like $1, anyway).

Without promotions, usually ING has the lowest rate of the 3, but probably the easiest to work with (setting up, and transfers).
EmigrantDirect has a rate inbetween the others, but their site's interface isn't as good as ING's. You can still transfer online though.
HSBCDirect has the highest non-promo rate, but I think it's the hardest to set up (once you do an initial funding, you need to call a CSR before you'll be able to do bank-to-bank transfers online).

That's just a general overview, the rates could change, etc etc... of course, I'd read through the info/ terms and conditions at the sites before setting up an account there.
 
My vote goes for ING. I have been using them for years and have tens of thousands of dollars saved with them. Good stuff. I wish I could connect them to my business account because I could be earning interested on a whole lot of money.
 
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