Comments on: Which Online Savings Account is Best?

By: Free Arcade Games

Free Arcade Games — Sat, 15 Aug 2009 01:54:43 +0000

I remember about 6 years ago, I signed up to ING and it was 5% interest for their savings account. Then a year and a half later, HSBC online was also 5%. Now they are both at a horribly 1.5-2%…

-Mike

By: imDavidLee

imDavidLee — Thu, 13 Aug 2009 05:54:09 +0000

for local malaysia, i more prefer do online banking with Public bank

By: CopyandCredit

CopyandCredit — Thu, 13 Aug 2009 03:44:02 +0000

Best online savings rate I found is Smartypig.com … 2.75%!! No intro teaser/minimum to open

By: marci

marci — Thu, 13 Aug 2009 01:48:47 +0000

au contraire…. I picked the company based on research…
That the manager is a good guy is just a bonus
And as the product is excellent, in my opinion, and would be excellent with or without him personally in the picture…….
and as the service is beyond excellent, I stay there

By: Ryan

Ryan — Wed, 12 Aug 2009 23:53:33 +0000

I enjoyed reading your post today. Personally, I’ve used Chase for my online checking, savings, brokerage & credit accounts for over 10 years now. I know that the pure online banking options like ING may offer some very competitive rates but I’ve built a relationship with Chase over the years and have gotten very competitive deals on checking, brokerage, & loans. My experience may be different from others but I’m not sure if I would have been able to get a great deal on a loan when I needed one had I not built the relationship with Chase over time through all of the business I had given them. If I was just looking to get a high rate on a checking/saving account and that’s it, I totally agree with the ING type approach.

By: MoneyNing

MoneyNing — Wed, 12 Aug 2009 23:27:49 +0000

See… You picked a good solution because of the person that works there (in your case, the owner) but it may or may not be a good choice if he is out of the picture.

On the other hand, most of us pick solutions based on the company, which is becoming more like a commodity as trading platforms are becoming similar and problems (if any) are generally tolerable. Features are different, but every company has its pros and its cons.

By: marci

marci — Wed, 12 Aug 2009 22:23:53 +0000

Edward Jones
The branch is 2 blocks from my house – and a local guy runs it – someone I am very comfortable with having him handle my money.
I can call or go in. Very friendly. Very helpful.

Also we do a review twice a year – free, of course – and the advice is helpful and timely. When I changed employers 2 years ago, I took the 401K info in, and he helped read thru the mumbo jumbo and suggested the accounts within the company 401K plan that fit my investment strategies and past practices. There was nothing in it for him – no commissions, etc. – but this is the type of friendly help I get from his office Much appreciated. As my company is changing pension plan providers soon, I’ll take the next prospectus also in to him, and again, he’ll help me decide on the package that fits my personal savings strategies. Nice guy!

I have a free money market acct. tied to it for transfers and check writing when needed. I have instant “loans against my stocks” available just by writing a special check – so funds are there if needed for an emergency.
And, as E.Jones doesn’t cash checks nor take cash in, I have a local bank free checking account for cashing checks etc.

Not to have all my eggs in one basket, I do have an IRA elsewhere – also local tho – at State Farm, (started a long time ago and doing very well so why move it)…..as well as my state employee pension thru the state elsewhere. (guaranteed 8% so why mess with it either)

It’s a package that fits together well for me. And that’s the key – you
need to find something that works well for you. No hassles – that’s my motto

By: MoneyNing

MoneyNing — Wed, 12 Aug 2009 22:11:16 +0000

Interestingly, I’m planning to go to Charles Schwab and Scottrade today (I’m leaving now) to talk to them about why I should move all my retirement accounts over for the exact same reason. I want to see if there’s really a difference when they have a branch

By: marci

marci — Wed, 12 Aug 2009 21:02:00 +0000

Must be my age – but I don’t trust the online only stuff…
I want to be able to walk in and talk to someone and come out with cold hard cash
And I want instant access or check writing ability from it… all of which I have…. And I want great rates – which I also have

So – none – that’s my final answer

By: Craig

Craig — Wed, 12 Aug 2009 16:43:46 +0000

Basically for the reasons you mentioned. You can do instant transfers and can take out money right away if necessary. Not a big deal since it only takes a few days to do transfers or take out money with an online savings account, but could be frustrating for some.