Woohoo! The tide might be turning in the online savings account front.
After many months of interest rate declines from every institution, one of them finally raises its rate on its online savings account. Ally Bank announced today that they will be increasing their yield from 1.70% to 1.75%. While it’s not earth [...]
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The personal finance community always talk about online savings accounts but seldom, if ever, does anyone inquire about the actual institution that readers use. Why only listen to one of us talk about a particular offering when everyone on the face of this planet have experiences with them? Today, let’s find out by [...]
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I’m so excited about the possibilities that I had to share it with everyone. New York Times reports that USAA, a privately held bank and insurance company that primary serves military personnel, is planning to offer an iPhone application to let users check deposit capabilities right on the phone.
No more going to the branch, [...]
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Being charged a $2 bank fee for just calling Wells Fargo only pushes me to endorse an online company like EverBank more. For yet another time, I was caught by surprised with “hidden fees”.
Some of you may remember the monthly bank fees my original business checking account incurred a while back. At the [...]
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Certificate of deposits, or CDs, are offered by banks as a way to attract additional deposits from customers in exchange for a higher yield. It works out for the banks because CDs have a fixed time period where there are penalties for early withdrawal, giving institutions a high confidence that the deposits can be [...]
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After being GMAC Bank first and then changing it’s name to Ally Bank, everyone’s no doubt seen the new advertisements that emphasizes no fine print. When I heard about the new name and with General Motors filing bankruptcy, the first thing I can think of is whether my money will be safe. Of course, I [...]
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It is not what you expect but what you inspect. I noticed that my Wells Fargo basic business account charged me a $12 “monthly service fee” when I was looking over my statement. Apparently, in order for the fees to be waived, I need either:
a $6,000 average balance (calculated per day) or
be enrolled with [...]
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A HSBC Direct Review
HSBC made a big push into the online savings account industry a few years ago and have already establish HSBC Direct (its U.S. online banking subsidiary) as a premier online bank offering high yield savings accounts. While, they have a relatively small footprint in the North America, HSBC is actually one of [...]
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While most people consider E-Trade Bank as a premier discount brokerage firm, few know that it offers an online savings account even though the banking arm has been around since 1982. Quietly though, the company has been gathering many customers (including me) through the years and E-Trade Bank is now one of the bigger [...]
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WTDirect is giving out up to $250 through their winter promotion! It’s been a long while since any financial institution has given such a generous sign up bonus so if you are looking into another high yield savings account, consider WTDirect.
The details are:
.
To be eligible, all you do is:
Go to their website and use the [...]
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Or suspends I shall say but either way, can they do that?
Apparently, the state has stopped all business relationships with Bank of America and will not resume until the bank restores the line of credit to Chicago-based Republic Windows & Doors.
Illinois Governor Rod Blagojevich is quite fired up about the fact that the taxpayer money [...]
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I received a check card today through the mail and with it came a list of tips on safe use of the card as well as using the ATM. Some are quite obvious but it’s always a good refresher to make sure we are following good practices. So, let’s take a look at them today [...]
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Ever wonder how many companies announced plans to participate in the US’s government TARP (Troubled Asset Relief Program)?
I did a little digging and as of November 18th, there were at least 25 companies either approved or planning to participate. Here’s an unordered list.
First Midwest Bancorp Inc. (FMBI) – Received preliminary approval for about $193 million [...]
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I’ve contemplated about switching my checking account to the online high yield checking account (ING’s electric orange or ETrade’s online account come to mind) before. I will be honest, I wanted to switch not because I liked the other two companies better but mainly due to a high(er) yield when compared to my current [...]
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