Thursday, December 14, 2006

Followup On Online Savings Accounts

As a followup on my earlier posts on online savings accounts, it looks like my forecast on October 2 is still holding true--that online savings accounts from major banks had reached their intermediate-term peak when E-Loan came out their 5.5% account.  Recently, E-Loan lowered their rate to 5.38%.

I had planned on opening up an account there, but after reading on MyMoneyBlog about the many problems people have been having with their accounts at E-Loan, I've decided against it.  I'm still at ING Direct for now, but would really prefer another institution since ING doesn't let me link to my Fidelity brokerage account (via the United Missouri Bank account that serves as the cash account for Fidelity).  I do like ING Direct's system for being able to easily open subaccounts, though.  If there was another bank which allowed links to my Fidelity-affiliated account and easily let me set up subaccounts and had a competitive interest rate, I'd move there.  If you know of any, please let me know.

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