Jump to content
News
Reviews
Discussons
Activity
Create New...
Close

Online Savings Accounts...

Variance

By Variance
in The Lounge

 Share

Recommended Posts

Variance Newbie

Variance

Posted
Posted

In an attempt to actually start saving my money, I have been looking at a few online saving banks since they have much higher interest rates than what the traditional "brick-and-mortar" banks offer even on CDs.

I've been looking at ING, Emigrant Direct and HSBC (which is currently offering a 6% APY on new accounts). Needless to say, HSBC is looking the best to me right now.

Is anyone else using these? Any others and/or pros and cons I should know about?

CSpec Newbie

CSpec

Posted
Posted

I've had online banking for about 6 months now. It's a pain to have to wait a few days to get your money, but I think the really high interest rates make it worth it.

Variance Newbie

Variance

Posted
  • Author
Posted

Do you have to have a bunch of money for one of those?

It's something I'm considering myself...

Just need $1 to open the account for any of them.

sciguy_0504 Newbie

sciguy_0504

Posted
Posted

My first account was with ING but I switched to HSBC because it had a higher interest rate. I have had one for about 2 years now. Waiting a few days for the money to transfer from savings to checking or vice-versa is somewhat annoying but the higher interest rate is worth it. You just learn to plan ahead if you have to transfer money.

Paolino Apprentice

Paolino

Posted
Posted

I have an ING acct and things are alright. As said before, it is a little annoying to wait a few days for the money transfer, so you just have to be careful.

I essentially use my ING account as my "Do not touch" acct. It's just money there for the long run or a severe emergency.

zeek Newbie

zeek

Posted
Posted

yeah i have an hsbc online savings account and the "normal rate" is 5.05% and the promotion rate is 6%. the promotion ends in a few months but it will then revert back to the normal rate which is still the best in the industry.

Variance Newbie

Variance

Posted
  • Author
Posted

Well, I signed up for HSBC but I had no idea it was going to take such an excruciatingly long time to finalize everything.

-First applied Friday. Had to wait on to trial deposit in my other account to verify it.

-Verified that today. Application approved today.

-Now I have to wait "6-8 business days" for them to send me my account login info via snail mail (why not e-mail is beyond me).

Cripes.

Join the conversation

You are posting as a guest. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

×
 Share
Go to topic listing


×
×
  • Create New...

Hey there, we noticed you're using an ad-blocker. We're a small site that is supported by ads or subscriptions. We rely on these to pay for server costs and vehicle reviews.  Please consider whitelisting us in your ad-blocker, or if you really like what you see, you can pick up one of our subscriptions for just $1.75 a month or $15 a year. It may not seem like a lot, but it goes a long way to help support real, honest content, that isn't generated by an AI bot.

See you out there.

Drew
Editor-in-Chief

I've whitelisted
Continue without support

Write what you are looking for and press enter or click the search icon to begin your search