high-yield online bank accounts

[Partial]

I have about 1000 dollars in the bank. I want to move it to a different bank account for two reasons:

1. In case my debit card gets stolen
2. My .5% interest rate

I know some online bank accounts have higher interest rates. Some are called "money market" bank accounts. What exactly does that mean?

I know you can pretty easily find some with a 5% annual rate. That is beating inflation and seems like a risk free investment. I am all about gaining an extra 50 bucks like the money sit for a year.

Any advice on this topic?

[packinpatland]

Maybe you could ask your Dad......or Grandfather?

[Scott Campbell]

I have about 1000 dollars in the bank. I want to move it to a different bank account for two reasons:

1. In case my debit card gets stolen
2. My .5% interest rate

I know some online bank accounts have higher interest rates. Some are called "money market" bank accounts. What exactly does that mean?

I know you can pretty easily find some with a 5% annual rate. That is beating inflation and seems like a risk free investment. I am all about gaining an extra 50 bucks like the money sit for a year.

Any advice on this topic?


I've been interested in them too for the yield. They advertise them as being like checking accounts, and I opened one up with Fidelity. Unfortunately they don't interface with Quicken for bill paying, so I don't use it. It is nice being able to use off network ATM's for free though.

[Scott Campbell]

Maybe you could ask your Dad......or Grandfather?



You know it's going to be a long offseason when PIP starts busting balls. :lol:

[Partial]

Maybe you could ask your Dad......or Grandfather?

Not cool. And my grandfather is dead rip.

[Freak Out]

I've had an Orange account for some time. No complaints here.

[Scott Campbell]

I've had an Orange account for some time. No complaints here.


Orange account?

[Partial]

I've had an Orange account for some time. No complaints here.

What is that?

And what is a money market account?

[packinpatland]

Maybe you could ask your Dad......or Grandfather?

Not cool. And my grandfather is dead rip.

I apologize. :oops: ..............but only about the Grandfather reference.

[Freak Out]

Here.

http://home.ingdirect.com/

[Partial]

Here.

http://home.ingdirect.com/

Not that I have a lot to lose, but doesn't that fact that its not insured by the government worry you at all?

[retailguy]

Here.

http://home.ingdirect.com/

Not that I have a lot to lose, but doesn't that fact that its not insured by the government worry you at all?


They are FDIC insured. See the bottom of this page.

http://home.ingdirect.com/products/products.asp?s=OrangeSavingsAccount

I used to have a NETBANK account, I now have an Orange account. I think there might be $6.00 in it.

[SkinBasket]

I've had an Orange account for some time. No complaints here.

Same. Easy to move money in and out. Bright colors. Of course I'm an idiot for not spending the money in that account on my mortgage, but I do what I can.

[Partial]

So what is the interest rate on this account? Or is this something I put money in and invest? Or do I put money in and they invest it for me? Or what is the dealio?

[RashanGary]

From what I'm seeing it's 3.65%. It seems like a good regular savings account. My wife works at a bank so it might be insulting to put our regular savings in a different bank, but I'm looking seriously at doing just that.

[SkinBasket]

From what I'm seeing it's 3.65%. It seems like a good regular savings account. My wife works at a bank so it might be insulting to put our regular savings in a different bank, but I'm looking seriously at doing just that.

That's the lowest it's been since I've had the account. Rate drops and all. Used to be over 4.

[RashanGary]

I'm going to put our savings in there. We have some big expenditures coming up so I have more than you probably should in a regular savings. Might as well throw it into that Orange account until it's needed.

[SkinBasket]

We use it for earmarked savings we may need quick access to for something else. Property taxes live there. Money to pay nutz's dad. That kind of thing.

[Partial]

Are there any higher interest things that you can easily pull money out of? I wouldn't be opposed to putting it into like a diverse mutual fund, but I DO want easy access to it in case of an emergency.

[RashanGary]

We use it for earmarked savings we may need quick access to for something else. Property taxes live there. Money to pay nutz's dad. That kind of thing.

Same thing I want to use it for. My two boys have a college saving started (they're 2 and 5). I will put their money in one until something better comes up.

[SkinBasket]

We use it for earmarked savings we may need quick access to for something else. Property taxes live there. Money to pay nutz's dad. That kind of thing.

Same thing I want to use it for. My two boys have a college saving started (they're 2 and 5). I will put their money in one until something better comes up.

What's wrong with the state program? Whateverthefuckitscalled. Jesus, we've got two of em. Uhhhhhh....

Edvest. That's what I'm thinking of. Tax free. Not quite as flexible if your kid ends up not going to school, but the growth is better.

[retailguy]

I've had an Orange account for some time. No complaints here.

Same. Easy to move money in and out. Bright colors. Of course I'm an idiot for not spending the money in that account on my mortgage, but I do what I can.


You got a hell of a mortgage interest rate if this is "part of your investment plan" to make money on your mortgage money. A mortgage rate less than 3.65%.... Wow. Skin, you rock.

[SkinBasket]

I've had an Orange account for some time. No complaints here.

Same. Easy to move money in and out. Bright colors. Of course I'm an idiot for not spending the money in that account on my mortgage, but I do what I can.


You got a hell of a mortgage interest rate if this is "part of your investment plan" to make money on your mortgage money. A mortgage rate less than 3.65%.... Wow. Skin, you rock.

Jesus, you are a sad little man aren't you. It's not an investment. It's where we keep money we use. Don't worry about our investments, they're doing just fine.

Your problem is that you're like Jared from subway. You were a financial fat dummy. Then you started eating right and figured out that you didn't have to be fat if you weren't so stupid. So now you think you're real smart because you can hold up your old wide assed pants and tell everyone how smart you are because your not fat anymore. You push your sub eating propaganda on the rest of us, who were never fat to begin with because we ate smart, thinking you're smarter than we are because you were fat and now you're skinny.

So now while people like me eat a balanced meal, you keep harping on only eating veggie subs from subway, because since it's your way, it must be the right way, to be healthy.

Guess what Jared? I'm sick of hearing about your fucking subs. You're not as smart as you think you are and there's more than one way to manage your weight, and **GASP** those ways work better for other people.

In other words, stick your stupid money advice up your ass because it's not nearly as insightful as the shit I took last week that had bits of spinach in it. Your desperate attempts to latch onto anything I say, misinterpret it, then make yourself look like a bleeding asshole aren't even stupid funny anymore, they're just stupid.

[retailguy]

I've had an Orange account for some time. No complaints here.

Same. Easy to move money in and out. Bright colors. Of course I'm an idiot for not spending the money in that account on my mortgage, but I do what I can.


You got a hell of a mortgage interest rate if this is "part of your investment plan" to make money on your mortgage money. A mortgage rate less than 3.65%.... Wow. Skin, you rock.

Jesus, you are a sad little man aren't you. It's not an investment. It's where we keep money we use. Don't worry about our investments, they're doing just fine.

Your problem is that you're like Jared from subway. You were a financial fat dummy. Then you started eating right and figured out that you didn't have to be fat if you weren't so stupid. So now you think you're real smart because you can hold up your old wide assed pants and tell everyone how smart you are because your not fat anymore. You push your sub eating propaganda on the rest of us, who were never fat to begin with because we ate smart, thinking you're smarter than we are because you were fat and now you're skinny.

So now while people like me eat a balanced meal, you keep harping on only eating veggie subs from subway, because since it's your way, it must be the right way, to be healthy.

Guess what Jared? I'm sick of hearing about your fucking subs. You're not as smart as you think you are and there's more than one way to manage your weight, and **GASP** those ways work better for other people.

In other words, stick your stupid money advice up your ass because it's not nearly as insightful as the shit I took last week that had bits of spinach in it. Your desperate attempts to latch onto anything I say, misinterpret it, then make yourself look like a bleeding asshole aren't even stupid funny anymore, they're just stupid.

Wow, that was quite a diatribe for a joke, responding to your joke. But, whatever. Hope you feel better. I'm off to Subway...

[Scott Campbell]

We use it for earmarked savings we may need quick access to for something else. Property taxes live there. Money to pay nutz's dad. That kind of thing.

Same thing I want to use it for. My two boys have a college saving started (they're 2 and 5). I will put their money in one until something better comes up.

What's wrong with the state program? Whateverthefuckitscalled. Jesus, we've got two of em. Uhhhhhh....

Edvest. That's what I'm thinking of. Tax free. Not quite as flexible if your kid ends up not going to school, but the growth is better.


There are state sponsored 529 plans. And there are also Education IRA's.

[Scott Campbell]

Cousins is way better than Subway. I sure wish we had them in Utah.

[retailguy]

Cousins is way better than Subway. I sure wish we had them in Utah.

Personally, I prefer Quizno's but that would probably be a violation of my contract.

[Partial]

Wouldn't you want to put all of your money in one IRA or what-have-you to take advantage of compoiund interest? It seems to me you'd make more if you had all the money in one account say instead of 5.

[SkinBasket]

Wow, that was quite a diatribe for a joke, responding to your joke. But, whatever. Hope you feel better. I'm off to Subway...

Yes, yes. We've heard it before. It's a joke. Then when it's not funny it's satire that everyone else is too dumb to understand. Then when someone tells you what satire means you tell everyone to shut up.

My post was an extended metaphor, not a joke. I'm going to go hump your mom now.

[Scott Campbell]

Wouldn't you want to put all of your money in one IRA or what-have-you to take advantage of compoiund interest? It seems to me you'd make more if you had all the money in one account say instead of 5.


Can't do that. You typically pay a penalty (I think its 10% + income taxes) on IRA withdrawls before age 59.5. You need some other investment vehicle for your emergency stash.

[Scott Campbell]

Cousins is way better than Subway. I sure wish we had them in Utah.

Personally, I prefer Quizno's but that would probably be a violation of my contract.


We have Quizno's and I think they're better than Subway, but I don't think they can touch Cousins.

[SkinBasket]

Wouldn't you want to put all of your money in one IRA or what-have-you to take advantage of compoiund interest? It seems to me you'd make more if you had all the money in one account say instead of 5.

Assuming you use all your money for the same purpose and want all your money making minimum gains at minimum risk, then maybe that makes sense. Fuck I don't even know what an IRA is. Something for old people and rich people who don't need a high rate of growth, I think. For all I know we might have one.

Shouldn't you be working for "your" money right now instead of wondering how to waste it anyway?

[retailguy]

Wow, that was quite a diatribe for a joke, responding to your joke. But, whatever. Hope you feel better. I'm off to Subway...

Yes, yes. We've heard it before. It's a joke. Then when it's not funny it's satire that everyone else is too dumb to understand. Then when someone tells you what satire means you tell everyone to shut up.

My post was an extended metaphor, not a joke. I'm going to go hump your mom now.

Wow. I got it. Thanks. See, only you can engage in satire. When it happens TO you it isn't satire, and it isn't funny. Two weeks ago when you were bashing my religion, and my career, and what I do during work, THAT was satire, and it should have been CLEAR to anyone with your brain. (Thank God almighty I'm not saddled with your brain).

THIS ISN'T SATIRE. Ok I got it. Perhaps a SMALL double standard, but I'm sure, like always you'll have an explanation. You always do. When you "write the rules" it always seems to work out that way. And it will always involves some sexual metaphor, or some 4 letter word that makes you feel tough. Quite honestly, if you laid a hand on my mother, she'd kick your ass... but that's another story.

For what it's worth, tough guy, it really was a joke.

3.65% is a pretty good rate for a savings account. If it wasn't such a pain in the ass for me to get money to it, I'd probably use mine more. Instead, we use our Money Market account.

[Scott Campbell]

Fuck I don't even know what an IRA is. Something for old people and rich people who don't need a high rate of growth, I think. For all I know we might have one.


An IRA is something poor people use to get rich.

[retailguy]

Fuck I don't even know what an IRA is. Something for old people and rich people who don't need a high rate of growth, I think. For all I know we might have one.


An IRA is something poor people use to get rich.


Well, that's what I thought too, but apparently, the really smart people invest their mortgage money. Just ask Donald Trump. He'll tell you.... for $29.95.

[SkinBasket]

Wow, that was quite a diatribe for a joke, responding to your joke. But, whatever. Hope you feel better. I'm off to Subway...

Yes, yes. We've heard it before. It's a joke. Then when it's not funny it's satire that everyone else is too dumb to understand. Then when someone tells you what satire means you tell everyone to shut up.

My post was an extended metaphor, not a joke. I'm going to go hump your mom now.

Wow. I got it. Thanks. See, only you can engage in satire. When it happens TO you it isn't satire, and it isn't funny. Two weeks ago when you were bashing my religion, and my career, and what I do during work, THAT was satire, and it should have been CLEAR to anyone with your brain. (Thank God almighty I'm not saddled with your brain).

THIS ISN'T SATIRE. Ok I got it. Perhaps a SMALL double standard, but I'm sure, like always you'll have an explanation. You always do. When you "write the rules" it always seems to work out that way. And it will always involves some sexual metaphor, or some 4 letter word that makes you feel tough. Quite honestly, if you laid a hand on my mother, she'd kick your ass... but that's another story.

For what it's worth, tough guy, it really was a joke.

3.65% is a pretty good rate for a savings account. If it wasn't such a pain in the ass for me to get money to it, I'd probably use mine more. Instead, we use our Money Market account.

You're funny. Not funny like a joke. Funny like a volcano that shoots out the side instead of the top.

What is this about bashing your religion now? You worship the cock?

[retailguy]

You're funny. Not funny like a joke. Funny like a volcano that shoots out the side instead of the top.



Funny. That's about how I'd describe your sense of humor. If that's what you call it.

[SkinBasket]

you could at least try to make this interesting for how smart you claim to be.

[retailguy]

you could at least try to make this interesting for how smart you claim to be.

The kiddies must be sleeping. Or you're just having a "me" day.

[Partial]

Wouldn't you want to put all of your money in one IRA or what-have-you to take advantage of compoiund interest? It seems to me you'd make more if you had all the money in one account say instead of 5.

Assuming you use all your money for the same purpose and want all your money making minimum gains at minimum risk, then maybe that makes sense. Fuck I don't even know what an IRA is. Something for old people and rich people who don't need a high rate of growth, I think. For all I know we might have one.

Shouldn't you be working for "your" money right now instead of wondering how to waste it anyway?

I have now been awaiting instructions for my next task for almost an hour.

[SkinBasket]

Wouldn't you want to put all of your money in one IRA or what-have-you to take advantage of compoiund interest? It seems to me you'd make more if you had all the money in one account say instead of 5.

Assuming you use all your money for the same purpose and want all your money making minimum gains at minimum risk, then maybe that makes sense. Fuck I don't even know what an IRA is. Something for old people and rich people who don't need a high rate of growth, I think. For all I know we might have one.

Shouldn't you be working for "your" money right now instead of wondering how to waste it anyway?

I have now been awaiting instructions for my next task for almost an hour.

JUMP!

[SkinBasket]

Probably not the kind of instructions you were looking for...

[SkinBasket]

http://cache.boston.com/resize/bonzai-fba/Globe_Photo/2008/01/24/1201232667_9149/539w.jpg
Shhhhhh...

Retail's talking honey.

[swede]

In swede-world it would go like this:

swede: Hmmmm...3.75% online savings with free checking.

On-line Account: How much do you wish to deposit?

swede: $10,000 in life savings please.

On-line Account: You may continue.

swede: "SEND"

swede: Check my account balance please.

On-line Account: zero.

swede: I just sent you $10,000 in life savings!

On-line Account: Bummer. No record of that, man. We can refer you to an on-line lawyer if you wish.

[Partial]

Wouldn't you want to put all of your money in one IRA or what-have-you to take advantage of compoiund interest? It seems to me you'd make more if you had all the money in one account say instead of 5.

Assuming you use all your money for the same purpose and want all your money making minimum gains at minimum risk, then maybe that makes sense. Fuck I don't even know what an IRA is. Something for old people and rich people who don't need a high rate of growth, I think. For all I know we might have one.

Shouldn't you be working for "your" money right now instead of wondering how to waste it anyway?

I have now been awaiting instructions for my next task for almost an hour.

JUMP!

You might as well! Jump!