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]

Re: high-yield online bank accounts

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.

[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. ..............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.