(Deprecated) Where To Put Your Money If It's Just Sitting In a Checking Account

Thanks Mod for deleting the spam referral. I just opened an account at Amboy Direct. The interest compounds monthly rather than daily for ING Direct but the APY is still higher.
 
gulk said:
I just read on the E-Loan site:

Can anyone confirm?
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That is odd, on their rate chart it states $0.00 - $4999.99, but their FAQ states $5000 minimum.

I emailed them to confirm this.
 
gulk said:
I just read on the E-Loan site:

Can anyone confirm?
Click to expand...

Well just for s's & g's I tried to start the application process and only put $100 as my initial deposit and it was declined because it had to be at least $5000. If I understand it correctly, you need to put in at least $5K to start but you can dip below that later on and still get your 5.50%
 
Spoofee said:
That is odd, on their rate chart it states $0.00 - $4999.99, but their FAQ states $5000 minimum.

I emailed them to confirm this.
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I just opened an account with E-Loan. They said you need a min. of $5,000 to open the account, but after the account is open you do not need a minimum amount in the account.
 
Emigrant Direct

Just a heads up (& thumbs down!) on Emigrant Direct...

I opened an account with them back in July. Since then I have moved and changed banks. I followed their directions to add a new checking account (fill out info online & mail a voided check) about a month ago and my account is still not linked. I contacted customer service and they requested that I send another check -- that didn't work. Then they had me fax a letter from my bank with my account number saying I was a customer -- still no luck. Emigrant Direct "claims" that they haven't received either check or the fax from me. I'm not sure what happened to these things, but my account info is floating around out there somewhere! Also, I have no way of accessing my money (my old linked account has since been closed). I sure am glad that it was a new account with only a little bit of money in it, but I would still like to have access, even if it's just to close my account! I have requested that my account be closed and a check sent to me for my balance. Of course, that hasn't happened yet either.

Anway, I guess what I'm saying is that I have had horrible customer service issues with Emigrant Direct. I read that other people have had problems and saw that Emigrant Direct had a low ranking on bankrate.com (used to be 2 stars, but now it's up to 3). Of course, I thought that it couldn't be that bad and the high interest rate was worth it. I have learned the hard way that it's better to settle for a lower interest rate and actually have access to your money. That's why I'll stick with ING even though they lag behind the competition.
 
5.25% is the RATE with GMACBANK .. in addition to being online like all the others.. it allows us to have a check book and write 2 cheques a month.. also it allows 2 ATM transactions and refunds all fees upto 15$. ( i think)

so that is a bonus feature of this bank. I keep most in ELOAN and some in GMAC. so i can use their ATM card when needed...
 
deltbuzz said:
I just opened an account with E-Loan. They said you need a min. of $5,000 to open the account, but after the account is open you do not need a minimum amount in the account.
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Thanks! Believe it or not, they finally replied just now.

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Thank you for the message. The minimum initial deposit is $5,000. After the initial deposit, you can withdraw the full balance if you prefer and the interest rate will not change for the time being because of that. However, the account will be closed if the balance is less than $500 for more than 90 days in a 12 month period. To open an account, please go to www.eloan.com/savings. Thank you.

Phil Trinh
Customer Care Rep

(866) 576-7283 | Toll Free
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ING just started a new electric checking account (called electric orange) they give you interest on your checking account, a free debit mastercard, free atm transactions within their network of atm machines and they will send money wirelessly for free or will mail a real check. the interest rates vary on about 3+% for under $50,000 and higher for 50,000-100,000 and above 5% for $100,000+

It also works seamlessly with others who have ING where you can just send money easily. You can transfer to and from your ING savings account as well.
 
One of the main things I really hate about INGDirect is how hard it is to get into there site. First you have to remember your 9 - 10 digit account number. Next you enter your pin (this is pretty cool though), then you have to answer a series of security questions which have to match EXACTLY the way you put them in before. So far I have had to call them twice to get my security questions reset. If it wasn't for this I would love INGDirect.

Kage_
 
well depending on where you are logging in you can have it save the computer you are using (really the browser and probably via a cookie) so you only have to remember the (7-digit in my case) customer number and your pin. but yes it is annoying when I haven't used a computer and then forget about if I put a caps on the first letter of my high school mascot or something like that. But i guess more security is better than less. Also maybe if I logged in there daily it wouldn't be so hard to remember all that stuff. I signed up for the checking (it is free) though I doubt I will use it very much, it will be good to have if I need it, and the best part is I can pay family members or others with ING accounts very easy and seemlessly.
 
im one of those morons that have never bothered to get a savings account because i am too lazy.

i have citizens bank (formerly choice one) checking. they have real bad savings rates, like less than 2%. i am thinking about getting this HSBC especially because i could still use my citizens account for all my bill pays and HSBC does have a local office i could visit. thanks for the info!

i am wondering about HSBC though - is this 5% a nominal deal or are they always competitive with rates? i have a capital one credit card and mortage though countrywide so i could use those (i have had positive dealings with them).
 
Although it isn't insured, I'm getting around 5% from a sweep fund at PayPal. I use it for purchases so I always know there's something available when I need it.
 
captainjrl said:
Here's an offer for an online savings account that has an added $50 sign-up bonus. Rate isn't as good as others, but its a free $50. This is NOT a referal link, I'm just passing along info.

http://www.amboydirect.com/AmboySavings.html
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This sounds great, until you get to the part where you need to maintain a $3,00 balance in your sign-up e-mail.
Amboy Direct eSavings is not available at Amboy branches. Only one new client bonus per household. To receive the $50 bonus, you must open a new Amboy eSavings account and keep a minimum monthly average balance of $3,000 or more for 90 days. The bonus will be credited within the following statement cycle after account meets 90 day balance requirements. This bonus offer cannot be combined with other promotional offers. Offer good until 02/28/07. Member FDIC.
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ING vs E-LOAN - Which one is better ?

I have ING, thinking of moving to e-loan
 
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