Best Online Savings Account List Updated 2023


“Find the best high yield online savings account” is always my advice when people ask me for recommendations on where to park their money allocated for possible short term use. These high yield online savings accounts have:

  1. Liquidity and Flexibility – Money is accessible right away via online transfers (available usually in 2 business days)
  2. Safety – FDIC insured (bullet proof)
  3. High Yield with Good Rates – Pretty much the highest return on your money for the safety that it provides right now.

Many institutions are reducing their once high yields down to levels that are close to zero, but some online savings accounts are still offering rates that are worth the effort to seek out. If you have cash sitting somewhere not collecting interests, you ought to look at these high yield accounts as an investment vehicle that’s virtually bulletproof. Here are a few that I have personal experience with and feel comfortable recommending.

CIT High Yield Savings Account

CIT Bank may not pop into your mind when you think of brick and mortar banks but their online savings offering is widely popular. With the usual FDIC insurance and pretty much the highest interest rate available in the marketplace, what’s not to like? (We wrote a review of the bank too. Check out the CIT Bank review here.)

apply button

  • Current Yield – 4.65%
  • There’s Also a Platinum Savings Account with Yield of 5.00% for Those with a Daily Balance of $5,000 or More. Click Here for Details.
  • You Must Pick the Savings Connect Option After You Click Through The Link
  • FDIC Insured
  • Interest Rate Trend in the Last Month: Up

Click Here to Go to

How to Find the Best Online Savings Account

When we compare different products at first, we look at all the bells and whistles but we usually end up caring about none of them after we start using the service. What I found with online savings accounts are that:

  • Pretty much all of them are FDIC insured.
  • The difference in the interface means nothing because I get used to it after a while.
  • Some features, like the FNBO Direct free bill pay or a debit card, are great but I can always find an alternative way of accomplishing the same thing.

So nowadays, all I really care about is the rate and the history of how the institution lowers and raises rates. To that end (and this is subjective), my ranking for the banks are:

  1. CIT Bank – Best rate available now plus use promotional code PREMIER to get $100 for free. Sign up quick because the cash bonus expires soon.

Note: Once again, this is subjective so take the ranking with a grain of salt. Also, note that there are many options out there and these are actually the ones I recommend. So just because Everbank appears last doesn’t mean it’s no good. In fact, I still highly recommend them to anyone that asks.

How Online Savings Accounts Save You Money

If setting up an online savings account is something you would like to pursue, you will want to know how to save money with online savings accounts.

First, you need to have a bit of savings to open an online savings account. No, it’s not because of the account minimums which is at $1 for some banks, but rather for the effort to make a difference for you. Since this account will be accessible for transfers between this account and your regular savings and checking accounts, you can use these funds however you want, to pay bills, replenish your checking account, etc. But you must keep in mind that it can take up to 4 days to have funds from an online savings account transferred into another account.

Although this instant inaccessibility may at first seem like a drag, in the long run, you may find that it acts as a deterrent for reckless spending. You cannot access this account in any other way than by transfer. For most options, no checks can be written from an online savings account, nor can you access it by ATM.

Online savings accounts can garner interest rates as high as 6 percent (in the good old days) and more than 2 percent (currently), so why would you let your money set in a regular low interest savings account?

To begin, look at the list above for the best rates. There are even online savings accounts available from well known banking concerns that have been around for generations.

Once you have selected the place you want to open an account, click through to their website and fill out the necessary online forms. The questions are the same as those you need to answer when opening up any bank account but the do it yourself approach usually saves you quite a bit of time.

Since there are no fees imposed when transferring funds from one account to another, you may find that you want to open more than one online savings account and take advantage of any higher interest rates being offered. There is no limit to the number of transfers you can make between accounts.

Investing in other investments may offer higher returns, but an online savings account lets you transfer funds without penalties or added fees. Although your money is in a secure place, you can transfer it to your regular checking or savings account whenever you want, keeping in mind that the transfer can take up to 4 days. You can also transfer funds from your regular checking and savings account into your online account at any time, thus taking advantage of the higher interest rates online savings accounts offer.

So you make money with online savings accounts because of the higher interests they pay, and, because it takes days to finalize a transfer, you are less likely to use funds from your account, thus allowing a profit buildup that you would not garner in a regular savings account.

How to Get a Better Experience with Online Savings Accounts

One of the biggest fears of opening an online savings account is the fact that there is no physical branch. For some, there’s a misconception that for some reason, it’s not as safe if you run into any problems. In fact, many people on the web have expressed concerns with different banks even though the banks themselves offer a solid savings product. If you want to keep your sanity and take advantage of the higher yield that these savings account offers, here are some tips for you.

  • Account Opening – Make sure you are filling out the correct information to avoid your account being put on hold. Most of these banks will automatically approve you if everything checks out, but this won’t be the case if you say, your social security number doesn’t match your name. Also, some people would mistakenly type in the wrong initial deposit amount and expect the online bank to correct it on the fly. If it’s your mistake, own up to it and work with the banks nicely to see if either institution will reimburse the overdraft fees charged.
  • It’s a SAVINGS Account – Even though it’s very convenient, it is still a savings account. So many people treat it like a checking account and try to pay bills with it even though it’s not the intention. Consequently, they run into the six withdrawal per month limit set by the government and complain why they are charged a fee.
  • Initial Deposit Hold – Most of the banks will hold your initial deposit while they try to receive your funds. Expect five to ten days where your money will be inaccessible at the beginning. Fortunately, your bank will allow you to start earning interest on your money even though it seems to be inaccessible.
  • Transfer Takes Time – Like it or not, transferring money from one bank to another takes time. In most cases, it takes three business days or so. Again, this is a savings account. If you expect every transfer to be instant, perhaps you should keep your money at your local bank earning 0.10% interest annually.

Of course, some of the complaints of certain companies are legitimate and should be addressed on a case by case scenario, but most of us have nothing to worry about as long as we follow some simple guidelines.

What is an Online Savings Account?

If you are interested in earning the highest possible interest rates on your savings account, you need to ask yourself the question, “what is an online savings account.” An online savings account is an essential money management tool that allows you to maximize the interest rate you get on your money while minimizing the risk associated with higher interest rate investments like stocks, bonds, or other investment vehicles.

An online savings account is a traditional savings account, like those you would find at a standard brick and mortar bank or credit union. An online savings account is simply a method of putting your money into a savings account and earning interest. Most online savings accounts are FDIC insured, up to the maximum limits for an FDIC insured account. They are thus risk free savings vehicles that allow you to earn interest on your money.

An online savings account may have many benefits over a more traditional brick and mortar account. The main benefit is that you tend to earn a higher interest rate on money in an online savings account. As of 2009, the interest rates for online accounts could be as much as 3.0% higher than an interest rate paid on a traditional bank account opened at a local bank.

Online savings accounts are able to offer higher interest rates because they tend to have lower operating costs than a traditional bank. While a traditional bank must maintain a building, and pay tellers and other customer service personnel, an online savings bank does not typically have standard retail banks. All transactions, including most customer service activities, are conducted over the Internet. The online banks take advantage of these lower overhead costs to pass the savings on to consumers in the form of higher interest rates. This helps online banks attract customers and encourages customers to invest their savings in one of these Internet institutions.

Online Savings Accounts Versus Traditional Savings Accounts

There are a number of differences between online savings accounts and traditional savings accounts. The main difference, of course, is the higher interest rate paid by an online account. However, there are several other important differences that you should consider when opening an online bank account.

Depositing and Withdrawing Money

When you deposit money in an online savings account, you must do so wirelessly. There is no ATM to go to deposit your paycheck and no teller window to go to where you can hand over cash. This means you either must send in a traditional paper check or use a completely wireless method of transferring money.

ACH transfers or wire transfers are the most popular way to fund online savings accounts. You can initiate a transfer from the online savings institution or from your own local bank. If you initiate a transfer of money from the online savings account website, you give the online account access to your local bank account. The online account then transfers the money from your traditional bank account into their account. The withdraw will show up as a withdrawal on your bank statement. In many cases, no fees are charged for this. You can also initiate the money transfer from your bank to your online account, setting it up as a bank-to-bank transfer. In some cases, there are fees associated with this, so ensure you check your local bank’s rules regarding transferring money electronically online.

Withdrawing money works in much the same way. Your online savings account will either allow you to transfer money from the account to your regular bank, or they will send you a check for the amount of money you want to take out. Again, there may or may not be a fee charged for these services, so check the rules with your online savings account.

Like a savings account, you do not have “check writing” privileges from your online savings account. This means you cannot usually make bill payments directly from your online savings account. In most cases, you cannot make payments directly from any savings accounts, since the purpose is to save the money and not spend it, so in this regard, there is little difference between your online savings account and a standard savings account.

Customer Service Options & Banking Interface

Most online savings accounts also offer online customer service. This can come in the form of email support or online live chats. Some online banks offer traditional 1-800 numbers where you can get customer service help and advice as well. Again, there is no physical location so you cannot go and speak to someone in person about questions with your online savings account. You must be comfortable interfacing with your account primarily in an Internet format, so make sure the website for your online bank is easy to navigate.

Interest Rates on Online Savings Accounts

Since the major benefit to an online savings account is a higher interest rate than a traditional account, you will want to make sure you get the best interest rate possible. You can do this by using one of the many online tools available to compare interest rates for online savings accounts.

Some of the online savings accounts that pay the highest interest rate have a high minimum or daily balances for opening an account. This means you must open the account with a set amount of money and keep that amount of money in the account on a daily basis. Ensure that you check these rules when opening an account so you do not end up being charged fees.

Opening an Online Savings Account

Online savings accounts can be opened online from the website of the bank that you select. Many online savings accounts will offer you a bonus or incentive for opening an account or making an initial deposit. These bonuses can range from $25 to over $100 or can come in the form of a free gift. Some online savings accounts even offer a referral bonus if you get friends and family to open an online account with their bank. Be on the lookout for these offers to maximize your potential savings and to jump start your online savings account.

Restrictions on Online Savings Accounts You Should Know About

Online savings accounts have a number of potential upsides, including higher interest rates than traditional accounts, but unfortunately, there are a number of restrictions on online savings accounts that you should be aware of before you invest your money online.

Minimum Balance Requirements

Some of the highest paying online savings accounts have minimum opening balances or minimum daily balances. This means you have to have a certain amount of money to open an account, and you have to have a certain amount of money in there at all times. If you allow your balance to dip below these mandated minimums, you could find yourself facing hefty fees and charges. These fees and charges may negate all of the potential benefits you get from the higher interest rate.

Monthly Contribution Requirements

Online savings accounts may also require you to contribute or add a certain amount of money each month. One of the highest paying online savings accounts, offered by WestBank, requires a monthly contribution. Certain other accounts have this stipulation as well. The minimum amount you need to contribute each month varies, but be aware of this and ensure that you can fulfill the rules before signing up for an online savings account that has this feature.

Limit on Transfers and Withdrawals

Some online savings accounts limit the number of transfers you can make to the account. Both adding money and taking money out can be limited. Money markets, for example, are one of the highest paying online savings accounts, but these types of accounts have the most restrictions on online savings accounts.
Federal rules mandate that in most money market accounts, no more than six withdrawals or transfers occur on a monthly basis. This means that you cannot put money in or take money out at will; you must comply with these regulations.

Some online savings banks also add their own limitations and rules for getting money into, or out of, the account. These rules can cover everything form how much you are allowed to take out at one time, to how often you can take out money. If you are uncomfortable about these types of restrictions, don’t choose an online savings account that puts these limitations on you. However, understand that many of the higher interest rate accounts do have some type of regulations regarding access to your cash.

Slow Withdrawals and Deposits

Savings accounts in general, including online savings accounts, don’t usually come with a debit or ATM card for fast access to your cash. Money in a savings account is meant to be saved. However, when you have a savings account at a standard local bank, you can walk into the bank and take out money if you need it. This is not the case with online savings accounts, which by definition exist online and not in person.

Since there is no local branch, you need to wait for funds to transfer if you want to deposit money or if you need access to your savings. Depending on the bank, this wait can be anywhere from two to three days to a week or more. The method by which you get your money can also be limiting. Most online banks will either transfer money from your online savings account into a standard bank account or will send you a check. Both of these things take time, and there may be fees associated with them. If you need fast access to your savings on a regular basis, this restriction for an online savings account may prove to be an impossible barrier for you to overcome.

Customer Service Issues

With online savings accounts, the days of the friendly neighborhood banker are officially gone. There are no tellers for you to see, and no local bank branch with a helpful manager who you can go to with your concerns. Most online savings accounts offer customer support through email or through online chat. If they do have a telephone number, the telephone calls may be routed overseas, or there may be long hold times or limited support.

If you are not comfortable navigating a web environment, an online savings account may not be right for you. Most websites are easy to use and provide features that are designed to help the customer, but a certain amount of technical know-how is still required to find your way around the site and get the technical help you need.

Interest Rate Caps

While online savings accounts tend to pay more than in-person savings accounts, the interest rates are nowhere near as high in 2009 as they were in times before the recession and the fall of the stock market. In 2006, 2007, and even into 2008, it was possible to find online savings accounts or money market accounts that offered an interest rate somewhere between three percent and five percent.

Though online savings account rates are good for an FDIC insured account where your money is safe, the rates may not match the rate-of-return you could get with other investments. You will need to weigh the risks of other higher return investments with the relative safety, but lower interest, growth of online savings accounts to determine whether this investment option is the right choice for your money.

Evaluating Online Savings Account Restrictions

When selecting an online savings account, consider what is most important to you. You will need to look at your own personal income situation, the likelihood that you will need ready access to your money, and your comfort and familiarity with web based banking. While the decision to use an online savings account may not be right for everyone, if you do not feel the restrictions are inhibiting, then it may be the best solution for your monetary investment. An online savings account can certainly help money grow faster then a local savings account with a smaller interest rate, and in many cases, it makes sense to get the most interest for your money.

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{ read the comments below or add one }

  • JamesLew says:

    I agree ‘my savings direct’ are very good. Can’t comment on the rest as thus far have yet to try them out.

  • faithann128 says:

    Just opened a savings account at My Savings Direct which pays 1.25%. Good protection on account as far as password, etc. Customer service has been great and terms of use are very reasonable. I like especially that you can add a beneficiary. Am currently at Barclays but will be switching the balance there to My Savings Direct.

  • Moniqo says:

    The interest rates are so small that it doesn’t make any sense for me. Would be more profitable if you lend somebody for a higher percent, or invest into business.

  • Usana says:

    When I am trying to find the best high yield online savings account I always check out this post. Because it is always updated and usefull. Thanks Ning.

  • Terence says:

    There are better ways to generate income than this. Those interest rates aren’t exactly award winning…

  • Blaine says:

    I use a third party provider to monitor my credit and balances on my account. Synchrony is the only bank that does not allow this provider access to my account. When I contacted their customer service, this is the response I received: “At this time, we do not provide access to Synchrony Bank account(s) via these third-party tools. Please know that protecting any personal information provided to us is one of our primary objectives, and we continue to work closely with these third-party service providers to ensure they meet data security standards and are fully compliant with regulatory requirements before enabling these sites to access your account details.”

    I have accounts with four of the top ten largest market share credit card issuers. They sync fine with my credit monitor company. Synchrony is a farce if they think that their standards are any higher than the other companies that hold 98.7% of the market share.

    And when presented with my issue, their customer service instructed me to send a fax or a letter. They refused to direct a manager speak to me. Lowes should sever all business ties with this company.

  • Mrs. Stokes says:

    For quite some time now I have been considering investing in Stocks and Online Savings. I must say, that your blog has made me very confident in doing so.
    I have been for so many years the one who was in the dark and (embarrassing to admit) very intimidated by how little I knew about finance when I go to speak to someone about making investments. Luckily, I came across this blog while working and had the opportunity to become very knowledgeable about the basics of finance.
    Thanks much for your investment into my future. I now have something I am able to start with. Thank You once again! HAPPY INVESTING!!!! 🙂

  • Luciana says:

    Normally I do not learn post on blogs, however I would like to say that this write-up very compelled me to check out and do so!

    Your writing taste has been surprised me. Thank you, quite nice post.

  • Melly says:

    Ugh…those interest rates are abysmal. Thanks for nothing, 2008…

  • Make money from home says:

    Yes! Finally something about make money from home.

  • Joanna says:

    Amex consistently lowers the interest rate every time I make a deposit into my account. It has dropped by 20% since I originally opened the account. I am now earning less than I would at another company.

  • kcfield says:

    Amex just dropped their savings rates from .85 to .80 after a long period of the former rate.

  • Jj says:

    Re: Ever Bank, please note that currently, after the first year, the interest rate drops to .61%

  • online business says:

    Hey there! Would you mind if I share your blog with my twitter group?
    There’s a lot of folks that I think would really enjoy your content.
    Please let me know. Cheers

  • ari says:

    Go with LMCU Max Checking. 3% APY.

  • Joe Kmoch says:

    Do any of the online banks allow non-profit organizations to signup? Are the AYP rates only for individuals?

  • J.C. says:

    I’ve had a Discover Card credit card for years and thought the overall product and service great. Based on that, I figured that Discover Bank bank accounts would also good. Big mistake! Banking with Discover Bank sucks.

    Yes, the rates are good. Yes, they pay (bribe) you to use their Discover Checking. Yes, account setup is really easy. And yes their online banking is good. But when you get to things that really matter in the day to day management of your account, Discover Bank bites the big one.

    There are but two ways to get funds into your Discover Bank accounts. One way is using their remote deposit app. A lot of banks these days have remote deposit and the concept is great. Leave it to Discover Bank, though to screw it up. The idea of an online bank is to give you more convenience for the disadvantage of not having branches nearby. Where the vast majority of online banks follow the Federal Reserve regulations for check clearing, Discover Bank files not. They like to hold all checks — no matter how small — for nine working days. Nine business days means for two weeks you have no access to those funds. This isn’t just for new accounts either. Customers for years still get their funds held.

    The second way to get money into your account is via ACH (Fedwire) from your bank. You go to your other bank and tell them to push money into your Discover Bank account. Fedwire is fast and funds are guaranteed so there is zero risk to the receiving bank. Fedwire transactions are also carried out in realtime so it is fast. Except when dealing with Discover Bank. If you tell your bank to ACH money from your account to, for example, your credit union and to Chase on Friday morning, by early Saturday morning those funds are sitting in your account at Chase and your credit union and available for use. Now, if you had sent money to Discover Bank, you wouldn’t see those funds until Tuesday morning. Nothing convenient — or ethical — about that.

    Remember Discover Bank’s decent online banking? Well, don’t get your hopes up. Their online banking is down for maintenance all the time. Discover Bank’s online banking is down for maintenance (scheduled and unscheduled) about 50 complete days per year. Chase, the bank everybody loves to hate, hasn’t been down 50 days in the past ten years.

    It isn’t worth the extra 10 basis points in interest you get from Discover Bank considering how inept and Stone Age they are.

  • VA says:

    How long does it take for a withdrawal to complete from an online savings to your regular bank account (assuming it is an e-transfer)?? Please share from your experience, especially for Barclays, Allys, Amex. Thanks.

    • David @ says:

      You really should look into the specific bank to get all the details but you are looking at typically 2 to 3 business days for ACH to go through.

  • Grant Morgan says:

    First be aware of the extended times you must wait until you can withdraw funds. We had the experience that several weeks after our deposit, they would not honor a withdrawal until a lot of investigation into the validity of the deposit.
    After closing the account, there was interest left. They sent us a check for this amount. However they refused to honor the check because the account was closed. Never have been able to resolve this in spite of hours on the phone. We of course had bounced check charges from our bank also.
    If they ask you to fax them a document … when you call back they never can find it.
    I asked once on this issue, “How long until you get back to me?” Answer, “10 business days.” Of course that was a long time ago.

  • Ben says:

    One pitfall to look out for is that some of these banks will perform a hard credit check when applying. (I know that at least ally is guilty of this.) You shouldn’t have to worry about hurting your credit by opening a SAVINGS account.

  • ubank says:

    How secure is this online savings thing? because there are a lot of scams out there and you will never know who to trust.

  • Bart says:

    I opened three online savings accounts back in 2007, and during that time rates were significantly higher than they are now. This time next year, the lowest rated banks may be the highest and vice versa. I think its good advice to open several that you like, and once the accounts are linked, you can reevaluate your positions and move money between accounts as necessary. Say once or twice a year, recheck rates. We are not talking about significant money here as rates fluctuate. If you had $20k in your account with .85%, and another bank offered .90%, you will earn about eighty three cents a month more money. Pick 2,3, or 4 good accounts and live with those.

  • Jeffrey Z. says:

    You can get $25 for opening a Capital One 360 Savings Account with 0.75% interest rate with $250 opening deposit:
    You can get $50 for opening a Capital One 360 Checkings Account with Unlimited ATM uses:

    Please use this bonus link:

  • 34954856 says:

    Incomplete list. Barclay’s Bank is offering 0.9 % without any ifs or requirements, and except for 2 months this year, held the rate steady.

  • Chris says:

    Stay away from ALLY. You can apply online but it takes them 3-5 business days to approve the application. If approved, they mail you the account information and you have to register the account to fund the account from an external account. You cannot make a cash deposit to any account. You would need to deposit the cash it to an external account and then transfer it to the ALLY account. If you use the app via your iphone to deposit a check and the account is new (less than 30 days old), they are required to place a 7 business day hold on your funds. They can also place holds at their discretion even if the account is not new. So if you need to your paycheck to pay bills you need to be sure you don’t need the funds right away.
    It is more trouble than it is worth. I withdrew my application when I found out how cumbersome it was. Simple checking account and a huge ordeal just to get it approved, not to mention the time to fund it. Account won’t be active until funds clear…more time.
    No thank you!

  • faithann128 says:

    Good grief compounded!! TIAA Direct, which had a savings rate of 1.25 % is now .75%!!! Needless to say, I’ll soon be a former customer! Hate jumping around, but I want to get every bit of interest from a savings account as long as the customer service is good, etc. In the meantime, folks, I came across Evantage Bank, which is now paying 1.1% up to a $35,000 deposit; then it drops to .50%, but I won’t have to worry about going over that limit! Still have an account at Barclays Bank at .90% so will stick with those two until the roller coaster starts moving again!

  • faithann128 says:

    Good grief – The second I praise Barclays Bank for having a 1% rate, it drops to .90%! Sorry about that; I’ll stick with them as their service has been fine, but that dropped rate really bugs me.

  • faithann128 says:

    Just opened a savings account at Barclays–paying 1%. Very easy to open, no minimums, has beneficiary provision. So far, so good.

  • Carolyn says:

    I’ve had an INGDirect account since 2001 and really liked it. I don’t notice any difference since CapitalOne 360 took over earlier this year – which was my concern. They’ve actually added additional features this year. I would recommend it to anyone!

  • celso says:

    Are these online savings willing to accept depositors from Asia because I’m Asian. Thanks

  • Lily says:

    I’ve been with IngDirect (now Capital One for 6+ years). For the most part they’re service is good (and the rates were so much better than a local bank) UNTIL a problem arises. I’ve spent 20+ hours on the phone with multiple representatives on the same problem; now, two years later with that issue still not resolved a new problem has arisen and the same pattern presents itself. Each say they will escalate the problem and get back with me. The follow-up is atrocious to non-existent. The worst part is that you cannot talk to the same person — just like Verizon which is REALLY bad in this respect except Bernadette who is an angel — so when the agent you talk 1-2 hours with doesn’t follow up, you’re forced to start over again. This is an endless, time-wasting process.

    Does anyone know if this same problem is encountered with the other online banks? Do any have the option of re-connecting with the same rep you provided every detail to already? I’m planning to change.

    By the way, bankdirect has a cool miles program but the promos neglect to mention that it costs $12/month.

    Also, there used to be sign-up bonuses for some of these programs. If there still are that would be interesting to post.


  • Wil says:

    I would like to know if I could transfer money from an account in Europe and also transfer to an account in USA? I would also like to know what are some saving opportunities for USA citizens living abroad and that still have to pay loans in USA.

  • Dale says:

    Thanks for your review of online savings accounts. I have been using one since 2000 and love the better interest rate and easy access. With your updated list, you didn’t include Barclay’s Bank, which has an online interest rate of 1%. They have had this rate since opening up in the US market in 2012 (at least since June 2012) and is a strong International Bank. Their customer service is been very good and the do DAILY compounding of interest, where most banks do Monthly interest compounding. I would recommend you look into their online savings account.

  • Koos says:

    Why wouldn’t you rate Ally #1 when they clearly have the highest int rate of .95 as of today and offer 24×7 customer support and mobile phone apps and .4% interest on online checking w free debit card usage?

    • Koos says:

      Your own words 3 years ago yet you rate them #1 today. Hmmm?

      MoneyNing December 2, 2009 at 9:40 am
      “You are right. I just don’t have any experience with American Express as an online savings account solution. Since it’s totally new, I plan to give it another few months so they can upgrade/fix/smooth out anything they need before I look into them.”

      • MoneyNing says:

        3 years ago, I didn’t have experience with the American Express option. Now I do.

        And as I explained, the ratings are based on my personal experience with the different products. You are entitled to your own opinion, as there are no right answers.

        It’s great that you feel so strongly that Ally is the best out there. Let’s just agree on disagreeing.

  • aile sagligi merkezi says:

    I am using American Express. There account process was very smooth and overall nice experience.

  • Lewis says:

    Does anyone know if someone living outside the U.S. open a high yield online savings account?

    Lewis from South Africa

  • Maz says:

    I’d also like to note that I keep using INGDirect, even though it doesn’t have the best rate anymore, and yes, it got bought (which worries me), but I have an Orange Checking account with them, and the instant transfer from savings to checking (as in, you click & it’s done), is worth losing the %. Similar to the $50 post, it’s worth that peace of mind to not worry about 3 days transfers. Although I still have accounts with other banks – most notably Wachovia so that I can have a physical bank when needed.

  • Maz says:

    You mention HSBC Direct in your note of your top 5, but it’s not even linked to, much less listed in your top 5 list. Also, I don’t know if you’ve used/looked into them, but EmigrantDirect used to be my #1 bank – it was beating INGDirect by .10% until the crash. It’s now down to 0.60%, which isn’t great, but I keep an eye on them.

    Also, I have a Sallie Mae account – but only because I can have my upromise money transferred there and they match it on an annual basis, which is worth every penny to me.

  • bee says:

    I know someone who had a capital one credit card and someone got hold of the number online or some way (not by losing the card) and jacked up a bunch of money on the person’s card IN ANOTHER COUNTRY! and cap one never noticed anything until this person called them. Cap one was good about reversing all charges but still, how frightening to have something like that happen!

  • Naomi says:

    I didn’t see the notice about ING being bought out by Capital One. I don’t know anything about Capital One but I did notice several negative comments about it. Can anyone tell me what the problem is with it?

    • Blue Spyder says:

      I have Capital One and I can say they treat me like a human. Even with sub-prime credit they were willing to give me auto loans, home loans, even helped me improve my credit.

  • Lisa says:

    Another good one is SFGI Direct – A Division of Summit Bank. They are currently at .91%

  • faithann says:

    Has anyone had any experience with Quaint Oak Bank (online savings)? They’ve held steady at 1% for quite a while, which is a wonder in these days of dropping rates!

  • ebank says:

    Discoverbank is not a good online solution! The website is down more often that not – it seems like they perform ‘system maintenance’ every weekend. If you ever want to do any online banking over the weekend you mise well forget about it. Originally I had etrade who was acquired and taken over by discover bank – it has been downhill ever since. I will be looking for a new online savings account option, this has happened one time too many. I bank online with other companies all the time and I have never experience the amount of downtime as this company – if they wanted to get into online banking then they should actually make it work – either that or state hours of operation on their home page.

  • Combon says:

    I’m using Diners Club International and I’m getting huge savings compared to my other saving accounts…

  • Blue Spyder says:

    I broke down and was with Ally, but it seemed like every time I went to do something (i.e. home buying, car buying) Ally declined to finance me, but Capital One stepped in both times. I’m with Capital One Bank now, rates aren’t the best but they had my back when I needed them.

  • faithann says:

    Wow! What a depressing morning! Just a few weeks ago, my savings account at SallieMae Bank went down to .80%. I just went on and found that it’s now down to .75%! Isn’t there anywhere to turn to get a decent return (other than a checking account which makes you enact debit transactions each month)?

  • Murph says:

    You might want to update your ING information to let everyone know that they are now owned by Capital One. I have ING and received an email from them recently telling me this. I had a bad experience with Capital One and am not willing to trust them with my money again so I’m back to shopping around. That’s how I ended up here.

    • rw says:

      Agreed; I recently found out that Capital One had bought out ING banking services and have since closed my accounts. I now have my online banking with Ally. I had accounts with both ING and Ally for the last two years; very similar, but pretty much refuse to do business with Capital One, so moved my $$ to Ally.

  • Projects & Thesis says:

    HSBC is easy to open an account and it is a good bank.

  • Resume Templates Free says:

    I am using American Express. There account process was very smooth and overall nice experience.

  • Denver Deals says:

    I never felt comfortable with using online savings companies. Of course after everything that has happened with so called brick & mortar banks, it seems less of a risk. I will have to give it a try!

  • mismot says:

    I have accounts at both a Capital One (through Costco in order to take advantage of extra perks) and Alliant Credit Union and like them both and think they are excellent! Alliant Credit Union has a brick in mortar branch in El Segundo, CA which is not too far from me. Alliant Credit Union is the best of both worlds for me as a branch gives me peace of mind – if by some unfortunate chance that I have a problem that would be easier to resolve with a face to face representative – and I get the higher interest rates on both Savings and Checking in addition to other perks offered by credit unions.

  • Benny Ben says:

    You need to check out Alliant Credit Union. They have a great online savings account with all the features of the big online banks, and anyone can join. Their rates are the best.

  • HYSA says:

    Capital One is something that one should consider. They offer an InterestPlus online savings account at 0.85%APY. While this rate is below that offered by Amex or any bank out there, there is an incentive if you open a Capital One InterestPlus online savings account. You get a $50 cash bonus. For sure, deposits are FDIC insured, but since this is an online account you must be comfortable banking using your computer.

  • Elaine says:

    Why didn’t you recommend Capital One High Yield Internet Savings account? I have an account with them and am more than satisfied. I have the one through Costco Warehouse Club and their interest rate is very competitive. My only concern is with foreign debt if in fact they have it in their investment portfolio. Is that possibly one of the reasons why you don’t recommend Capital One?

    • MoneyNing says:

      Foreign debt is not a concern at all for Capital One, or any online bank that’s FDIC insured for that matter because any deposits within $250k is covered 100% so that’s not a worry at all. I don’t have Capital One on there because I simply never had an account. They may be the best, or they may be the worst. If I never dealt with them, then it’s hard for me to say either way so it’s best to leave them off since their rates aren’t any better than others.

  • Pam says:

    There’s lots of good information here. Thanks for sharing. These online savings accounts sound like they would be good for a person’s emergency fund, and for money they are setting aside for a purchase they plan to make within a year or so like a home or car. Unfortunately the interest environment is so low right now that we won’t be getting much interest no matter where we go. Short term money always pays less than inflation anyway, but now I really feel for those who had expected to be living off the interest from their savings.

  • Virginia says:

    I would have to say the best online saving account is HSBC direct, as it is easy to open an account.

  • MzGlow says:

    Well they all sound good. My concern is do they work worldwide? I mean I have an account with a Puertorican based bank that was bought not long ago by an American based bank. Will it work? Does this online banks deal with different banks outside their country? And which one would be the best for me?

  • Philip says:

    I had very bad experiences with American Express and Everbank. I found their account opening process too cunbersome. The onlince chat help was useless and I wondered what country I was dealing with. Ally was my number 1 choice.

  • R0sina says:

    Any experience with Hudson City Savings (5 star rating by Bauer)
    Why do you never list the ratings?

  • MoneyCzar says:

    So where does Capital One bank fall on the list? Anybody have any experience (good or bad) with them?

  • TB says:

    Looking for a business savings account and keep getting turned down – seems that many of these websites are only for personal accounts. I checked out the Waddell site and there were tons of scam complaints about them. Any other suggestions?

  • Irv says:

    A really good rate, easy to use web site and no games is from Colorado Federal Savings.

  • Susie says:

    Hi everyone,
    I borrowed money online…. now it’s time to start saving on line… what a great ideal. I think I will go with ing direct… sounds hopefull in the next decade. Anythings possible in this world? Put your money where your you may lay an egg one day.

  • Annette says:

    I just set up a AMEX high yeild savings account and wanted to list one son and one special needs trust for another son as beneficiaries. AMEX does not allow you to list any kind of trust as a beneficiary. This is SOP for most land banks. Not really certain why but the money is coming out tomorrow. Not acceptable.

  • Online Savings Account says:

    Great website, very valuable information. I am looking at moving to an online savings account from my BoA savings account . My concern is that I am not interested in rate chasing, I just want to move to an account that has a history of great rates and good customer care.

  • Chant says:

    I just opened an account at SFGI Direct. Paying 1.41% no limit on deposits. Very easy to use and friendly help over the phone. Not 3% but the best rate I could find with no balance limit, and met the criteria of stable rates. Can’t stand the banks with a high rate to get you in and drop the bottom out once they get the balances.
    Side note: Can this site add SFGI to the rate sheet so I can track all raet changes on my high yield accounts on one site……thanks

  • Blue Spyder says:

    Unless you want a cd for 7 years the answer is no, sorry.

  • Ryan O says:

    Great website, very valuable information. I am looking at moving to an online savings account from my BoA savings account (yuck, I know). My concern is that I am not interested in rate chasing, I just want to move to an account that has a history of great rates and good customer care. With that in mind, are the account ranked above still the best options or are there better options for someone looking to be a longtime customer? Thanks in advance.

  • Maripat says:

    Has anyone done any business with Bank of the Sierra? Their savings account is paying 2.09% and their checking (if you follow the rules closely) is paying 3.09%. There’s got to be something wrong here, right?

    I have an account with ING and basically it just sits there — I check it about once a year and the slow downtick of interest is depressing, so I’m looking for something else. Any advice would be much appreciated.


    • AJ says:

      Same here. I have an account with HSBC for more than a year now and the rates have been decreasing over time. Any good savings account to go with? I was planning to check out Discover and Cap1, but after reading what people feel about them, I am a little skeptical.


  • Bonnie says:

    I recently found SmartyPig which seems to be really good as well – 1.75% as of Nov.26th. Does anyone have experience using this one? Accounts go through BBVA Compass.

  • faithann says:

    Blue Spyder, am surprised at your comment. Why are you so against SallieMae Bank–I’ve had absolutely no problem with it (they’ve let you add a beneficiary since I opened on account). Just wish I had more money to deposit with them.

    • Blue Spyder says:

      I explained in the review my mom used them back in the 90s to go back to school. She got down to her last 4 payments, mailed 1 in late and they defaulted her like she wasn’t paying at all. Sallie Mae will never hold my respect or money…

      • Super Rich says:

        I totally understand the way Blue Spyder feels. Sallie Mae is synonymous with bad feelings for anyone who have had students loans. They are the worst. Even if they had the highest rates I wouldn’t let them near any of my money.

  • Blue Spyder says:

    Sallie Mae is a name I’ve grown to hate, I’ll open with Discover or AmEx

  • Nate says:

    In my opinion ING Direct is a great place to park your money, simply because you get a $25 account bonus when signing up.

    I have a bunch of referrals left, so if you are interested in the $25 bonus for opening a new ING Orange Savings Account just E-Mail your first and last name to and Ill send you a fresh link so you can get your bonus. You have to open the account with a minimum of $250.

  • faithann says:

    Sorry Matt, didn’t see your reference to SallieMae Bank. I think they’ll have a lot more fans once people become aware of their ease of opening and maintaining accounts.

  • faithann says:

    Am surprised that SallieMae Bank, which is paying 1.40%, isn’t listed. I opened an account a few months ago with absolutely no problem and have made additional deposits to the account since I’m so pleased with it.

  • Kathy says:

    Any input on Smarty Pig’s savings accounts?

  • Greg says:

    Just to amplify a bit on Matt’s correct and useful comment: It is true you are simply incorrect in what you say the yield is at Everbank, viz “…2.25% APY for the first three months. Afterward, you still get a cool 1.51%….” The yield is in fact 2.25% for the first three months, and afterward 1.26%. The 1.51% is a projected blend of the two over the first year, and it assumes that the 1.26% rate will continue for the full first year, which it may not do—it may change at any time. The law really should not permit this kind of reporting of blended interest rates that may never be achieved; but that is neither here nor there concerning your own simply incorrect statement. Please change it.

  • Matt says:

    I think your statement about Everbank having obviouly higher rates is misleading. Everbank advertises a 1.51% rate, but this is really a blended rate reflecting the special 2.25% for 3 months and then its usual 1.25% rate for the remaining 9 months of the year. For year 2, you are just getting 1.25%, which is LOWER than many competitors. So Everbank has the best rate if your goal is to save for 1 year and move. But you have more money after 2 years if you went with SallieMae for example, at 1.4% flat for both years.

  • Charles says:

    Nice writeup. A big omission in your bullet points was the compunding method; daily or monthly. This can make a difference if you’re a weekly depositor. ALLY and Amex do daily compounding whereas ING is monthly.

    Re: ING. It’s technically correct that they’ve had “steady” rate changes for the month, but it’s also correct they’ve had four lowerings this year. I expect the next one to hit 1%. Clean Website, easy navigation. It took them a long time to set up recurring depo’s.

    On the downside, they have a silly gift shop and, IMO, these dubious Cafes. Their rates are at the low end of competitive due to these overhead-sucking items plus their compounding method. There was an article awhile back on how many accounts they *cancel per month. It was large, and IIRC, several thousand. All of these outfits consider their accounts as *savings* accounts, and look very unfavorably on frequent withdrawals.

    Also not mentioned is that being Savings Accounts, once you have a decent quick cash amount you should look at their CDs. A laddered portfolio of CDs is a more serious way of saving long term.

  • Don says:

    One thing I found odd with EverBank is that you must consent to them obtaining a credit report on you when applying for an account. Perhaps I overlooked this with my other online savings accounts (mostly from the list above) but I don’t remember seeing it. Why they need a credit report is beyond me. Since I’m giving them my money, I should be getting a credit report on them. 😉

  • Laura says:

    Full disclosure, I do work for one of these companies…Discover (though not on the Bank side). A question for MoneyNing: Why didn’t you include Discover on the list? Was it because of the reasons cited in the comments (user experience: difficult/non-intuitive navigation of the site) or something else?

    • MoneyNing says:

      I actually have a Discover Bank account and I’m not sure if I can recommend it yet. The interface used to REALLY bug me, then I was really excited when they did a face lift and got rid of pretty much all the annoying little details. Then, I noticed that:

      There’s a $50,000 MONTHLY limit withdraw still. This may work for Discover, but not so great for customers who actually need money in a hurry. I asked, and you pretty much have to wire money out by calling them, and then faxing them written notice, which doesn’t seem to fit the whole convenience / modern model of online savings accounts.

      Secondly, I notice that when I make a transfer, just before it shows up on my account, there’s a day or two where the transfer seems non-existent (it gets taken out of the list of pending transfer, it’s not in deposit history and then the money isn’t there yet either).

      Other than that, the rates seemed fairly good. Actually, the rates are above the rest if you get into their premium savings account program, but I don’t know what the requirements are there, and whether you get “demoted” if your savings level dips past a certain point.

  • Jennifer says:

    I agree with WB.

    Well, it figures. Since ING dropped their rate to around 1.10% (sheesh), I went with AMEX which was at 1.50%. Ha, of course, very shortly after they lowered their rate to 1.30%. I didn’t close my account at ING entirely, just in case. I think this rate chasing thing at all such relatively low rates is getting ridiculous. Now some banks & credit unions offer at least 3% or even higher, however they really make you jump through hoops to get that rate. The credit unions don’t make you use online banking. I still like having a local bank for general checking. I’ll post the link to find these places when I find it.

  • WB says:

    It’s tough to know what reviews are actual reviews and not people working in large organization’s “social media” departments, where it is their job to locate messages boards such as these and post positive comments about their employers. I know someone who does this for a living for a large bank.

  • knowone says:

    I’ve had Emigrant for several years. Transfer requests submited before 5pm have always been in my Chase checking account the next morning., and vice versa.

  • FinEngr says:

    Don’t forget that ING Direct also offers great promotions effectively bumping up the yield. In comparison to its peers, ING Direct has been written off plenty of times because of its lower yield, but there are numerous other reasons why this has set itself apart.

    • Yafos says:

      I have been an ING customer for years. What promotions am I missing that bump up my yield. I am looking to leave them now that they are not even in the top few of return rates…very disappointing since if others can have higher rates, they should be able to also. So what are the “numerous other reasons” that set ING apart that I should let them pay me way under what others pay? Thanks

    • Lily says:

      I also have been a long-time customer of IngDirect nearly 7 years and have never heard of promotions of any kind (other than an initial $25 sign-up gift), particularly those that might bump up the yield. Could you say what reasons it’s set itself apart that now offsets the lower yield. Thanks.

      • Heidi says:

        Ever since ING Direct got bought by Capital One, their customer service has sucked. Becuase they still only take mobile phone check deposits (which take a minimum of 5 days to go thru), I was in situations where I repeatedly had bill payments get bounced because they held my check deposit for so long AND they refuse to transfer money over from savings to cover you in situations like this. THEN they had the rudeness to close my checking account! After that, I promptly closed my savings account too (and yes, I was a customer since they had the 5% APR, however long that lasted).
        Now I have to shop for a new savings acct, and forget Chase (my checking) and their paltry .01% yield on savings.
        Really need go find another good option…Everbank came up the highest, but I am put off by the reviews about their bad customer service and shady executive practices.
        Any other good savings/money market acct suggestions?

  • Franklin says:

    I love ING Direct, although its rates are not highest. By far, their terms, service, and Web interface are better than any other accounts I have.

    Avoid EverBank. Horrible experience I would never want to go through again.

    Avoid Discover Bank. Horrible experience I would never want to go through again.

    • Lily says:

      Franklin. Could you provide an explanation for your statements about EverBank and Discover Bank, e.g what was the nature of your “horrible experiences”? Thank you.

  • Mike says:

    Ash, couple other things to note when signing up. Include your beneficiaries (POD) when initially signing up since it is a pain to do it afterwards. Rates have changed since October so do your research. Also, look for introductory offers for new accounts. I think Cap1 is the same as Discover today but Cap1 is also has a bonus offer on new accounts.

  • Mike says:

    Ash, online banking is easy and very convenient/efficient/profitable. Once you sign up you will love it. FYI – I moved my money from Cap1 to Discover since Discover continually has one of the highest, if not the highest, savings interest rates among the large reputable banks. It appears several individuals have had a hard time getting signed up with Discover but I really like the site. It is easy to use and my transfers are always made by the third day, which is what is spelled out in the terms and is a common time frame used by most banks on free transfers. You do have an option to transfer funds the next day but it will cost. My goal has been to find the top yielding reputable bank sites since I do not want to keep moving money around and opening new accounts. Currently, I have accounts at bit Discover and Cap1. Take Care

  • Peter says:

    How does ING even rate in this list as many other online banks beat its interest rate and have for a long time now. Like dollarsavingsdirect, for example.

  • Phil says:

    I’m looking for a BUSINESS High-yield On-line Savings account. Does anybody know of one that he/she would recommend? This is to park my cash from my business so it has to be a BUSINESS savings account. I’m with Chase right now and my money in the Savings account there is earning a paltry annual APR of 0.01%… It’s so ridiculous. I don’t want CD’s because I need the liquiditu of a Savings account. Thanks for your help.

    • V Eves says:

      Try Waddell and Reed Financial Advisors – for all of the above. Free checking AND competitive interest rate.

    • Gary says:

      INGDirect has a business savings account that pays more than what you reference at Chase but less than their personal savings account.

  • Ash says:

    I recently received an email from Cap One InterestPlus Online Savings account. I was conceidering going for it since i have a Cap One credit card already, but I dont know much about online savings accounts. Is anyone familiar with Cap One’s online savings accounts?

  • Jennifer says:

    One other thing to watch for is that many of these online sites don’t let you choose beneficiaries. Even your spouse has to produce death certificates, etc . At least this is the way at ING. He’s doesn’t use a computer and couldn’t log into our ING account if he tried. AMEX lets you choose up to 6. It’s not just ING either, many of the other with high rates (well, considering the economy) don’t either. I know Colorado Saving Bank doesn’t either. Just something to think about.

    • bob says:

      I see AMEX does let u POD up to six beneficiary but what is the process if you die? How long before they can claim their money and how do they do it since no one can walk into a branch with the death certificate? Might be a long drawn out session with the AMEX red tape etc. There is hardly any good information, so does anyone know?

  • Daniel says:

    Why is the American Express 1.70% not listed? Have you just not had experience with it or is there something you dislike about it?

    • MoneyNing says:

      You are right. I just don’t have any experience with American Express as an online savings account solution. Since it’s totally new, I plan to give it another few months so they can upgrade/fix/smooth out anything they need before I look into them.

  • Jabber says:

    I should have listened to Sally up there and not open the Discover account. Their online savings accounts sucks. Not only did I go through all the trouble that others have, the transfers take much longer to show up than my Ally Bank account. With Ally, the transfer is almost instant, with Discover… zzz.zzZZzz. Geez. An online bank operations should be much simpler than many other operations. Why do they mess this up so bad?

    • Darin says:

      Thanks Jabber ..I too am looking to leave Discover bank…if I do a transfer today( thurs) it will take 6 days to get the cash….(had an emergency and need faster access…3 days is fine…6 days= you got to be kidding me

  • TK says:


    Check out American Express Online Savings they offer 1.70 APY no minimums.

  • smoney says:

    Even I’m having problem to open an account with American express personal saving. Any idea why it takes such along time for them to process the application.

  • MoneyNing says:

    Being a late comer, American Express Personal Savings hasn’t given me a good enough reason to open an account and give them a try. Their rates are in line with their competition and the competition works fine for everyone’s needs. They probably have a good offering, but I’m waiting to open an account with them when they have a good incentive for me to do so.

    • Yippy Skippy says:

      Emigrant Direct offers a 1.4% flat-rate cash-back Mastercard that I charge everything on. I make as much from the credit card cash-back ($140 for every $10,000 spent) as I do from interest on my savings there. You have to keep a $10,000+ balance for six months to qualify. The amount I make from Emigrant Direct’s cash-back Mastercard more than offsets their less competitive interest rate.

  • Raj says:

    Have you also considered American Express high yield savings account. If yes why it did not make to your list of best accounts?

    • Sally says:

      I know you asked about American Express but don’t get an account at Discover. The account opening process was the most cumbersome I have ever seen. Basically, you have to sign up, then it tells you to call the customer service department. After that, you wait a few business days to get confirmation. Then after that, you go back onto the site to sign up for a user ID. At this stage, you need your account number, which should have been told to you by the customer rep. If you wrote it down AND they told you, great. If not, then you have to call them again to get it. After that, you have to wait to get your password emailed to you… again, later.

      Once that happens, you can get in and change your password etc.

      Also, once I got in, I can’t even find option to add an account to do external transfers (why they don’t just add the account with the initial deposit is beyond me). As of right now, I’m waiting for customer support to get back to me about making a deposit but I’ve already put my money elsewhere for this particular deposit (which is a significant amount btw).

      • Jose says:

        Wow I thought I was the only one that felt that way. I have a discover card and everything about it is great (other than the fact that many merchants don’t accept it) but the online savings interface and sign up process really sucks. I think it took me a week just to get through the application process and that’s simply not acceptable. I wonder if they do it to hide the fact that they actually hold your money for as long as 10 business days.

      • MoneyNing says:

        I contacted Discover bank for you and they told me that you have to sign up for MoneyHQ from within their interface in order to transfer money from another online savings account. If you need further instructions, I can send them to you so just contact me via the form in the about section.

        Hope this helps and good luck.

        • Ragz says:

          The new Discover Bank is really simple and easy to understand. Their interface is as simple as Ally Bank.
          Moreover, they provide a good rate as well.

      • Darin says:

        I also agree…I am in the process of finding another online bank and trying to get away from Discover…they have the longest delay in transfers (6 days to get your cash)…3 days is fine, but if I have a true Emergency, 6 days is way too long to wait

    • Sammi says:

      After reading the article on the best online accounts and doing extensive research, we decided to go with AMEX because it met all of the requirements listed in the article and the ease of being able to link our existing accounts with the AMEX account. This makes deposits and withdrawals very easy.

  • Ric Eggleston says:

    I really have a problem saving even tho I make very good money. Im looking for a place that somewhat diffcult or takes time to access. there anywhere where I could direct deposit?

    • MoneyNing says:

      Actually, I spoke with a few of the online saving accounts listed above and they all allow direct deposits. All your employer needs is the routing number and your account number. Usually (to avoid error), your HR department may want a check that shows those two numbers but I’m sure that they will let you use the online savings account if you explain your situation.

      • Sammi says:

        I work @ one of the biggest health insurance companies in my state and had no trouble @ all opening an online savings account.
        All my HR department needed was the account number and proof that the online bank was an actual bank. I took in a copy of my opening statement of deposit that had the account no, bank’s name, address, and phone no. Direct deposit started within 2 pay periods.

  • Henry says:

    Most of these webBanks do a good -to-great job. I’ve had experience with several, and would rate EverBank and ING Direct as two of the best, provided you understand the rules going in, and abide by them. They are consistently competitive and easy to reach. The problem with these webBanks, a few people expect a top rate – with no fees for a ridiculously low balance, and immediate service (like overnight mail), and if their paperwork is messed up – then it’s up to the bank to fix it and become mindreaders. This isn’t realistic. They do mess up, but it’s very low compared to the volume of business handled, and some of the crazy-idiots that submit incomplete forms.

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