HOT MAMA! Where To Put Your Money If It's Just Sitting In a Checking Account

[Rumpltzer]

Originally posted by: DVDBob
Just recveived an email from ING, my account savings is now 5.25% Not sure if this is for new customers as well, but I'm pretty happy with them and their interface. Having an ATM card might be a nice addition, but I'm only making withdrawls about twice a year anyway and can wait the 2 days it normally takes.

Anyone confirm? I've not gotten the email, and the Web site still says 4.35% on the Savings Account. It does say 5.25% on a 12mos CD.

I'm planning to move most of my money from HSBC (5.05%) to my newly opened Citibank e-savings (5.00%) account. I make automatic transfers to the HSBC account every couple of weeks, and it takes a week for the money to move. With Citibank the move from my checking account to savings account is instant.

If ING is doing 5.25%, though, then I'd consider moving my bulk back to them... their transfer times are better than HSBC, and the extra 0.20-0.25% is significant enough.

 

[Rauthoen]

Originally posted by: DVDBob
Just recveived an email from ING, my account savings is now 5.25% Not sure if this is for new customers as well, but I'm pretty happy with them and their interface. Having an ATM card might be a nice addition, but I'm only making withdrawls about twice a year anyway and can wait the 2 days it normally takes.

I dont see the 5.25% rate either

 

[Hawk]

I think he mistook the CD one to be the savings rate.

"There's never been a better time to start saving!

Great news! On May 31st, we increased the variable Annual Percentage Yield on the Orange Savings Account from 4.15% to 4.25%! Login to your account at ingdirect.com to deposit more today.

5.25% APY 12-month Orange CD

Some banks are just better at certain things. ING DIRECT is the best place to save - especially with our 12-month Orange CD, now earning 5.25% APY.

ING DIRECT - 5.25% APY
Bank of America - 3.26% APY
Wachovia - 3.10% APY
Wells Fargo - 3.00% APY"

Originally posted by: Rumpltzer

Originally posted by: DVDBob
Just recveived an email from ING, my account savings is now 5.25% Not sure if this is for new customers as well, but I'm pretty happy with them and their interface. Having an ATM card might be a nice addition, but I'm only making withdrawls about twice a year anyway and can wait the 2 days it normally takes.

Anyone confirm? I've not gotten the email, and the Web site still says 4.35% on the Savings Account. It does say 5.25% on a 12mos CD.

I'm planning to move most of my money from HSBC (5.05%) to my newly opened Citibank e-savings (5.00%) account. I make automatic transfers to the HSBC account every couple of weeks, and it takes a week for the money to move. With Citibank the move from my checking account to savings account is instant.

If ING is doing 5.25%, though, then I'd consider moving my bulk back to them... their transfer times are better than HSBC, and the extra 0.20-0.25% is significant enough.

 

[oink2u]

Citibank has a 'special' going on (YMMV, and I don't know for how much longer):

6% APY for 6mo Short-term CD - min bal $500

I saw this in the paper (Dallas Morning News) and went to open one. Asked the lady how long this would last, she said she didn't know.

 

[thetxstang]

Would you happen to have a link? I perused Citibank's site and performed a search for "6%" but was unable to find the special. Perhaps it's a brick-and-mortar only special.

 

[psteng19]

Originally posted by: Svnla
Presidential rate is 5.12%

http://www.presidential.com/PremierSavings.htm

lol, that site looks really ghetto. Like some 10 year old whipped it up in 5 minutes.

 

[Svnla]

Originally posted by: psteng19

Originally posted by: Svnla
Presidential rate is 5.12%

http://www.presidential.com/PremierSavings.htm

lol, that site looks really ghetto. Like some 10 year old whipped it up in 5 minutes.

Let see, ghetto site = higher rate = more money. Pretty site = lower rate = less money.

More money FTW.

Edit: Don't you just love it when someone said..."but but that site is sooooo pretty and so easy to use, I am going to use it even it pays less".

<<<-------- will go to any banks as long as they are FDIC insured and pay higher rate.

 

[Svnla]

Originally posted by: soccerballtux
Aren't all banks FDIC insured?

Not ALL of them are. Better safe than sorry by go to www.fdic.gov and check it out for yourself.

 

[Baked]

Oh great, so I setup my HSBC savings acct, got my ATM card, but I have no PIN number (says I'll get it in a separate mailing), I can't access my online acct, and I don't know my acct number. >_<

 

[Svnla]

Originally posted by: saymyname


How would I go about buying those? It might not be liquid, but 6 months I can handle for over a percent more. What are the odds of moneymarkets rising above 6% in 6 months?

Here is how

http://www.treasurydirect.gov/indiv/indiv.htm

 

[oink2u]

ok, so maybe it's only for people in TX? *shrug*

Here's the link to the ad in Dallas Morning News:
http://shopping.dallasnews.com/ROP/ads.aspx?advid=9606

Originally posted by: thetxstang
Would you happen to have a link? I perused Citibank's site and performed a search for "6%" but was unable to find the special. Perhaps it's a brick-and-mortar only special.

 

[Svnla]

Originally posted by: oink2u
ok, so maybe it's only for people in TX? *shrug*

Here's the link to the ad in Dallas Morning News:
http://shopping.dallasnews.com/ROP/ads.aspx?advid=9606

Originally posted by: thetxstang
Would you happen to have a link? I perused Citibank's site and performed a search for "6%" but was unable to find the special. Perhaps it's a brick-and-mortar only special.

I just called Citibank and the 6.0 APY rate is only for Texas. The rate for my state is 5.5 APY for 6 months CD. Not bad but I wish the 6.0 rate would be for everyone.

 

[Meritt]

www.gmacbank.com now at 5.05% APY

 

[kaborka]

Emigrant just announced 5.15%, effective July 28th

Edit: That's on the American Dream savings acct, not a CD.

 

[MeanMeosh]

bank of america was listing a risk-free CD with a 1000 minimum for 4.65% earlier today... they say they'll waive the penalty (losing your interest earned) as long as you put the money in the BOA checking or savings account first.

http://www.bankofamerica.com/deposits/checksave/index.cfm?template=cd_riskfree

 

[MeanMeosh]

Originally posted by: Svnla

Originally posted by: oink2u
ok, so maybe it's only for people in TX? *shrug*

Here's the link to the ad in Dallas Morning News:
http://shopping.dallasnews.com/ROP/ads.aspx?advid=9606

Originally posted by: thetxstang
Would you happen to have a link? I perused Citibank's site and performed a search for "6%" but was unable to find the special. Perhaps it's a brick-and-mortar only special.

I just called Citibank and the 6.0 APY rate is only for Texas. The rate for my state is 5.5 APY for 6 months CD. Not bad but I wish the 6.0 rate would be for everyone.

in addition, the 6 month CD can only be bought with money not in an existing citibank account, and they require you to have a citibank checking account to buy one. i think the minimum for a citibank checking is $1500 for a no-fee account, unless you direct deposit something into it or you make two monthly bill payments from it. $3 fee otherwise.

 

[Kenji4861]

Updated list!

 

[oink2u]

also, Texans Credit Union (for people who work @ TI, mostly) has a 1yr CD for 6%; saw this in the Dallas Morning News too.

Texans CU link

 

[Golgatha]

Originally posted by: MeanMeosh
bank of america was listing a risk-free CD with a 1000 minimum for 4.65% earlier today... they say they'll waive the penalty (losing your interest earned) as long as you put the money in the BOA checking or savings account first.

http://www.bankofamerica.com/deposits/checksave/index.cfm?template=cd_riskfree

My wife and I did this for my son's college fund. The risk free CD lets you withdraw with no penalty after 5 business days, which is very nice if interest rates go up.

The rest:

PayPal MM = 5.00% currently
Sharebuilder.com = 4.65% currently, but I have option to play stock market which was quite lucrative today (check out SCT. I got in at $5.00/share this morning and sold at $6.50/share just a few minutes ago. I may kick myself if it raises further.)