How do you guys feel about all the online banks that are paying around 5% interest for thier online savings accounts linked to your banks checking account. Ive done some research and they seem to be a win-win.

 

I've had an ING Direct account for years. No issues..

www.ingdirect.com

 

Do they require a minimum amount to start a Savings Account?

 

my folks use the ing one as well and have nothing bad to say other than it takes a couple days to transfer money

i think there is a minimum, but not nearly as much as you would think. i went to sign up for one but you have to be 18

 

From ING's website on the Orange Savings Plan:

No required minimum balances.
There is no minimum balance required to open your Orange Savings Account, and you don't have to keep a specific balance in your account to qualify for a high interest rate. No matter how much you have on deposit, the rate is still 4.50% APY.

J

 

Sweet. Now, I just need to get my Routing Number.

 

:111993776:

 

That is the set of numbers located on the bottom left below the memo line on your checks. Next to it will be your account number and then your check number across the bottom. HTH

J

 

Now go get to it.

 

Well I have an ING direct one but hsbc direct is paying 5.05%.

 

i have one with capital one

no charges, no min balance, transfers in 2business days.

i think its a great idea if you dont want to go full fledged mutual fund or CD or something like that.

 

I don't use checks other than sending them through my online Bill Payment. I MIGHT have one in my bedroom for this very reason. I'll go check.

 

Another vote for Cap 1 (or any internet bank account)

Had mine for a few years now, no issues