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Internet Savings Accounts - Is Rate Chasing Worthwhile?

Thursday, September 2, 2010 - 5:33 AM
I recently discussed this rate chasing issue. Flexo at Consumerism Commentary also recently reviewed this issue, and he provided a useful history of many internet savings accounts that have been popular over the years including HSBC Advance (used to be HSBC Direct), UFB Direct, OneUnited and Emigrant Direct (and their new Dollar Savings Direct). As he mentioned, these used to be savings account rate leaders, but now they lag (or in the case if UFB Direct, no longer exists).

Some ones he didn't mention that have disappointed me include E-LOAN, FNBO Direct, E*TRADE, Grand Yield Direct, Amboy Direct and AmTrust Direct. These used to be rate leaders, but all of these now lag. Which banks have disappointed you?
2
Ken TuminKen Tumin5,441 posts since
Nov 29, 2009
Rep Points: 123,664
1. Thursday, September 2, 2010 - 7:53 AM
Been there, done that; almost all the popular online savings: GMAC, E-Loan, HSBC, Amboy, Emigrant Direct, IGO, Dlollar Savings Direct (DSD), FNBO; you name it, I have got it.

Now I am in the RCA rate chase. 

Sad.
4
51hh51hh1,460 posts since
Jan 16, 2010
Rep Points: 6,348
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