Why do I like my on-line savings accounts?
- Their interest rates are competitive with CDs (HSBC's 3.50% is currently better than ING's 3.00%), yet there are no liquidity or penalty issues for pulling money out early. By the way, HSBC just raised their rate to 3.50%. I am betting that ING is pondering a change too.
- There are no fees.
- Their web sites are very user-friendly.
- They are FDIC-insured up to $100,000.
- You can put up to $2,000,000 in an account.
- You can put as little as $1 in an account.
- I can move my money around very easily because it is on-line.
- I can access my accounts 24-7-365.
There are several other good on-line banks out there too. What on-line banks are you using?
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