online savings accts
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online savings accts
| Sun, 01-01-2006 - 11:26am |
hello everyone,
I have been thinking of opening an online savings acct. through ING or Emigrant.
I have been searching the web and found 2 sites that may be of interest not only to myself but to others thinking about or who already have an online acct. There interest rates was pretty good . Here are the sites if anyone is interested in looking at them.
www.capitalone.com online savings at 4.00%
www.hsbc.com online savings at 4.25%
just thought i would share with you . I'm seriously considering the hsbc.
Let me know what your thoughts about theses are.
teresa

I use ING and really, really love them. They are SO helpful and the rates are terrific. I love that I can divide my accounts into as many as I like and give them all nicknames--so we have Christmas funds, and clothing funds, and emergency funds, and birthday funds, and so on.
Personally, I would stay away from anything with the Capital One brand on it. While it's our own fault we're in debt, the credit card companies certainly haven't done anything to help the situation. I don't intend to help them out any more than I have to by loaning them my money, no matter how high the interest rates they offer (just think, they can afford a 4% savings acct rate because they are charging their cc customers 12-30% on the other end). Besides, I've had enough bad experiences with them, I don't care to have them holding my money. Oh yeah, and I think their advertising is misleading and downright unethical. So I won't be taking my money there.
What is HSBC? 4.25% is really good. They all fluctuate, though. Still, if they look good and you feel good about the service you'll get, then go for it. Any savings is better than no savings, anyway, right?
Good luck and blessings,
Heather
hi heather,
thanks for your input about capital one. i really want to have a savings with a good interest rate. Do you automatically have your money moved into the ING acct. or do you have to put it into your acct yourself? how long does it take you to get your money say like your xmas fund or even out of your er fund? I'm always scared to let my info out on my checking and savings accts. Is the ING site a safe site? sorry for all the questions but i need all the info i can get before i do this. I think the hsbc acct. is through household bank. Maybe i should start out with the ING acct. and see how i like it. I like the fact that you can divide your acct.into several catagories. would appreciate any more info you could give . thanks alot!!
teresa
Right now the ING interest rate is 3.8%--so, not as high as the two you were talking about. But as far as security is concerned, they seem to always be coming up with new security features, so I think they're on top of it. And they are FDIC insured, of course.
You can have money automatically transferred to your savings accounts, or you can do it manually. We used to have an automatic amount set aside in a couple accounts, but now I do it all manually, because I would forget which accounts had an automatic amount set up and which didn't (you can check to see your automatic transfers, but I just found it easier to do it all manually, especially because the amounts I set aside each month sometimes vary).
It takes a few business days for money to transfer from the ING accounts to my checking account. I consider this a bonus, actually, because I can't just impulsively buy something and expect the money to get there quickly. But, because of this, I have a separate savings account with the same bank as my checking account, where I keep a couple hundred dollars for sudden emergencies. I also have credit cards that I can use and then immediately pay off if I really have to have the money NOW.
Also, when you first open the account, your first deposit will not be available for withdrawal for something like 30 days. Subsequent deposits take something like 5 business days to become available for withdrawal. Again, I just make sure I have money available in more liquid locations to cover for this. Also, when I first open an account, I open it with a small amount--say, $5--and then immediately transfer in however much more I want in that account. That way, only the $5 is tied up for the full 30 days, and the rest is available after five days.
I don't know whether the other companies have similar waits and so on, but I suspect they do. I've also noticed with Emergent and ING, that their rates tend to fluctuate differently and so one bank may offer a higher rate at any given time, and later the other bank may be offering the higher rate. Again, I don't know if this is true for the others.
ING also offers a $25 premium for opening an account through a referral. So, for instance, if your sister refers you to ING and you open an account through her referral, ING will deposit $25 into your new account. The other banks may do this too. You can also earn $10 each time you refer someone else (so, in this case, your sister would earn $10 for having referred you). Of course, if you do decide to sign up for ING, I'll be happy to send you a referral ;), or I'm sure half a dozen others here could do the same.
Anyway, good luck on whatever you decide. It's good that you're being so careful with your money. It will pay off!
Blessings,
Heather
thanks for the info. I am leaning towards the ING acct. I just recently started my 401 k
contribution again. We have a checking and savings acct. at our credit union. What i have been looking for is an acct. that i can't just withdrawl the money out if i want to at that moment so i think an ING acct. would be great for me. I am going to open up a xmas club acct. at the credit union. We can have our reg. savings as our efund and the ING acct. as our long term savings since it pays a better % rate. that would be great if you could send me a referal i would appreciate it. hope to get it started this week. putting in a small amt. is a good idea until get use to it and then i can add more. thanks for your help. have a great 2006 year!
teresa
Hi Teresa,
Email me at heather@careyhead.net and I'll send you a referral. I'll try to do that tonight. Gotta run out again right now--talk to you later.
Heather
any info or personal experiences will help me alot.
thanks again. teresa