Comments on: Put Your Savings in Hyperdrive, Part 1: Open a High-Yield Account http://www.consumerismcommentary.com/2008/01/14/put-your-savings-in-hyperdrive-part-1-open-a-high-yield-account/ A premiere personal finance blog, established 2003. Within, Flexo discusses his own experiences with money, and he and other authors comment on a wide range of personal finance topics. Sat, 21 Nov 2009 16:42:00 -0500 http://wordpress.org/?v=2.8.5 hourly 1 By: Alex http://www.consumerismcommentary.com/2008/01/14/put-your-savings-in-hyperdrive-part-1-open-a-high-yield-account/#comment-140165 Alex Tue, 18 Mar 2008 01:19:41 +0000 http://www.consumerismcommentary.com/2008/01/14/put-your-savings-in-hyperdrive-part-1-open-a-high-yield-account/#comment-140165 Is GE Interest Plus still a good (safe)place to park a lot of cash? Is GE Interest Plus still a good (safe)place to park a lot of cash?

]]> By: SherylH http://www.consumerismcommentary.com/2008/01/14/put-your-savings-in-hyperdrive-part-1-open-a-high-yield-account/#comment-132944 SherylH Wed, 16 Jan 2008 22:52:38 +0000 http://www.consumerismcommentary.com/2008/01/14/put-your-savings-in-hyperdrive-part-1-open-a-high-yield-account/#comment-132944 I feel like Mrs. Micah...I earned a whopping $0.14 last month on my "Advantage" account at a B&M. So after reading your article, I opened a high yield online checking account. I can't wait to try some of your other tactics. I feel like Mrs. Micah…I earned a whopping $0.14 last month on my “Advantage” account at a B&M. So after reading your article, I opened a high yield online checking account. I can’t wait to try some of your other tactics.

]]> By: J.C.'s Money http://www.consumerismcommentary.com/2008/01/14/put-your-savings-in-hyperdrive-part-1-open-a-high-yield-account/#comment-132774 J.C.'s Money Tue, 15 Jan 2008 11:13:47 +0000 http://www.consumerismcommentary.com/2008/01/14/put-your-savings-in-hyperdrive-part-1-open-a-high-yield-account/#comment-132774 I just wrote an article about how I am losing money with Bank of America's Keep the Change program, because the interest rate is only 0.2% APY! Even with a minimum balance of only $300 and 5% matching contrubitions from debit card purchases, I am worse off for not having a high yield savings account. I just wrote an article about how I am losing money with Bank of America’s Keep the Change program, because the interest rate is only 0.2% APY! Even with a minimum balance of only $300 and 5% matching contrubitions from debit card purchases, I am worse off for not having a high yield savings account.

]]> By: Mrs. Micah http://www.consumerismcommentary.com/2008/01/14/put-your-savings-in-hyperdrive-part-1-open-a-high-yield-account/#comment-132736 Mrs. Micah Mon, 14 Jan 2008 19:21:41 +0000 http://www.consumerismcommentary.com/2008/01/14/put-your-savings-in-hyperdrive-part-1-open-a-high-yield-account/#comment-132736 I was really surprised when I found out that my old account earned me .20% interest. My reaction--why bother? I was really surprised when I found out that my old account earned me .20% interest. My reaction–why bother?

]]> By: Tasha http://www.consumerismcommentary.com/2008/01/14/put-your-savings-in-hyperdrive-part-1-open-a-high-yield-account/#comment-132735 Tasha Mon, 14 Jan 2008 19:18:39 +0000 http://www.consumerismcommentary.com/2008/01/14/put-your-savings-in-hyperdrive-part-1-open-a-high-yield-account/#comment-132735 Whenever I read posts about savings interest rates, I feel lucky that I get as much as 8.2%pa and the lowest (by choice) is 5%pa. I don't know what makes New Zealand banks afford to raise their rates so high! Whenever I read posts about savings interest rates, I feel lucky that I get as much as 8.2%pa and the lowest (by choice) is 5%pa. I don’t know what makes New Zealand banks afford to raise their rates so high!

]]> By: Laura http://www.consumerismcommentary.com/2008/01/14/put-your-savings-in-hyperdrive-part-1-open-a-high-yield-account/#comment-132733 Laura Mon, 14 Jan 2008 19:17:32 +0000 http://www.consumerismcommentary.com/2008/01/14/put-your-savings-in-hyperdrive-part-1-open-a-high-yield-account/#comment-132733 I was skeptical about an online only bank, but I'm glad I was proven wrong. ING Direct has treated me much better than Bank of America. It's also motivating to see my money grow. I was skeptical about an online only bank, but I’m glad I was proven wrong. ING Direct has treated me much better than Bank of America.

It’s also motivating to see my money grow.

]]> By: Brian http://www.consumerismcommentary.com/2008/01/14/put-your-savings-in-hyperdrive-part-1-open-a-high-yield-account/#comment-132728 Brian Mon, 14 Jan 2008 18:10:12 +0000 http://www.consumerismcommentary.com/2008/01/14/put-your-savings-in-hyperdrive-part-1-open-a-high-yield-account/#comment-132728 On top of foregoing the comfortability of staying within your brick-and-mortar bank, you have to do the research to find out how to freely move your money. My bank (huge B&M) charges a fee to "transfer" money from them to another bank, but if you set up EFT (electronic fund transfer) with the receiving end, EFTs are free since it is impossible to discern between an EFT for a purchase and an EFT for savings. It's impossible to tell whether situations like this are innocent side-effects or maliciously misleading, but it does represent a hurdle to potential rate-shoppers. On top of foregoing the comfortability of staying within your brick-and-mortar bank, you have to do the research to find out how to freely move your money. My bank (huge B&M) charges a fee to “transfer” money from them to another bank, but if you set up EFT (electronic fund transfer) with the receiving end, EFTs are free since it is impossible to discern between an EFT for a purchase and an EFT for savings. It’s impossible to tell whether situations like this are innocent side-effects or maliciously misleading, but it does represent a hurdle to potential rate-shoppers.

]]> By: ChristianPF http://www.consumerismcommentary.com/2008/01/14/put-your-savings-in-hyperdrive-part-1-open-a-high-yield-account/#comment-132727 ChristianPF Mon, 14 Jan 2008 18:09:08 +0000 http://www.consumerismcommentary.com/2008/01/14/put-your-savings-in-hyperdrive-part-1-open-a-high-yield-account/#comment-132727 "Many banks are getting away with murder. They know that most customers are fine letting their money sit without looking for better alternatives." You are right - I still can NOT believe with as many online banks offering over 4% for an account with no minimum that they still offer accounts with 0.5% interest! I guess they figure as long as people are sticking with them, they don't need to raise the rates... “Many banks are getting away with murder. They know that most customers are fine letting their money sit without looking for better alternatives.”

You are right – I still can NOT believe with as many online banks offering over 4% for an account with no minimum that they still offer accounts with 0.5% interest! I guess they figure as long as people are sticking with them, they don’t need to raise the rates…

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