Would you rather have 0.5% or 4.5% interest on your savings account? If that doesn’t mean anything to you – would you rather I handed you $5 or $45? That’s what the difference is between online banks’ rates and regular banks.
I tried a couple different online banks, but INGDirect is my favorite. There are a couple out there that pay a little higher interest, but for ease of use, convenience, and security I think ING is the best around.
The way it works:
- You need a “regular” checking account.
- This account is linked to your ING (or other online banking) account.
- You can transfer money between the two accounts as you wish.
- You must remember that it is an MMDA account and there are certain restrictions.
- There are no fees and no account minimums.
Email me and I can get you a $25 bonus for opening an account.
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