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Banking

Capital One Interest Rate Now 4.25%

by Luke Landes

The banks keep raising the interest rates for their online savings accounts. Joey wrote in to inform me that “Capital One is up to 4.25 percent (annual percentage yield) in their high-yield savings account.” This bank has Joey’s favorite web interface. I’ve updated the list of online savings account interest rates.

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Online Savings Account Rate Updates

by Luke Landes

Some banks have raised their interest rates for their online saving accounts, including GMAC and UFB Direct. The details outlining the latest rates are here.

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What To Do When Your Bank Is Merging

by Luke Landes

Marketwatch has published an interesting article with advice for customers whose banks are going through a merger. I’m no stranger to this phenomenon. When I was 16, I had my first bank account with New Jersey National Bank. It was sooner or later bought by or merged with CoreStates (Dec. 6, 1996), then First Union ... Continue reading this article…

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New Emigrant Direct Credit Card

by Luke Landes

There have been rumors if this for a long time, but Emigrant Direct has finally announced their new credit card. This is a “platinum” MasterCard that offers up to 1.25 percent cash back on all purchases with no yearly limit. The rewards are deposited directly into your Emigrant Direct account twice a year. If you ... Continue reading this article…

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ING Direct Offers 4.75%

by Luke Landes

ING Direct is looking to win back defectors who have left the bank in search of higher interest rates. The “Orange One” is now offering 4.75 percent APY on new deposits from January 19 until April 15. In order for the funds to qualify, the money must be from an external source and be deposited into ... Continue reading this article…

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GMAC Bank

by Luke Landes

A reader emailed me to ask why GMAC Bank was not listed on my table of high-rate savings and checking accounts. They are currently offering 4.2 percent APY (4.3 percent APY on balances above $500), but there are restrictions and fees. I added the information from GMAC’s Money Market Savings Account to the list, making note of ... Continue reading this article…

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UFB Direct Offers 4.35% APY

by Luke Landes

Here’s a new savings account interest rate update. Hot on the heels of ING Direct raising their interest rate to 3.8 percent APY to match UFB Direct, the latter raised their rate on their no-minimum account to 4.0 percent. If you deposit more than $25,000, you’ll qualify for their Jumbo Money Market Account rate of 4.35 percent. I ... Continue reading this article…

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HSBC Follows Fed, Raises Interest Rate

by Luke Landes

HSBC Online Banking now offers an interest rate providing a 4.25 annual percentage yield. There’s a $25 bonus as well! Take a look at the latest checking and savings rates for more information. Speaking of bonuses, I have one ING Direct $25 bonus left. ING Direct is currently offering only 3.75 percent APY and to obtain ... Continue reading this article…

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Open An Account At Every Bank

by Luke Landes

If you have a small business and you take a number of personal checks from the local community, you might benefit from this advice from Consumerist: simply open up business checking accounts in as many area banks as possible. This way you can take every customer’s check to his or her own bank — also ... Continue reading this article…

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Bank of America’s Keep The Change

by Luke Landes

Some time ago, Bank of America introduced a new program for its checking account, savings account, and debit card holders called Keep The Change. A friend of mine asked me to write about this program quite some time ago, and I said I would do so. I try to keep my word. The premise is ... Continue reading this article…

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News Everywhere

by Luke Landes

There are many notable news stories today. Here’s a look: * Bank of New York confesses to money laundering and will pay $38 million to avoid prosecution. They probably made billions of dollars during the 1990s in their schemes involving Russia. As my coworker pointed out, that’s not such a bad return. * The car ... Continue reading this article…

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Top Ten Online Banks

by Luke Landes

MSN Money rates the top ten online banks. The top three are Wells Fargo, CitiBank and Bank of America. For my list, simply view the latest checking and saving interest rates offered by online banks. Here is MSN Money’s list: 1. Wells Fargo 2. CitiBank 3. Bank of America 4. E-Trade 5. Huntington 6. First ... Continue reading this article…

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It’s Monday

by Luke Landes

Although I haven’t submitted any articles to the Carnivals, you might want to check out the Carnival of Personal Finance #16 and the Carnival of Debt Reduction #3. If you are interested in hosting or participating in the Carnival of Personal Finance, you can get more info here. CNN asked this morning why more people ... Continue reading this article…

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Savings Account Interest Rates Updated

by Luke Landes

The table of savings and checking account interest rates has been updated to include some moves by Presidential, UFB Direct, and Virtual Bank.

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ING Direct Offers New Feature

by Luke Landes

ING Direct is now requiring a new method to entering your secure PIN when logging in to view your account, involving a series of keystrokes that will be different each time you log in. This seems to be a method to thwart keylogging software. Here’s the notice: ING DIRECT is always working to provide you ... Continue reading this article…

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Savings Account Interest Rate Updates

by Luke Landes

Some Internet-based banks have raised the interest rates offered on their savings account. Check out the latest comparison, which features upward movements from UFB Direct, Capital One, and Virtual Bank.

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Competitive Online Bank Accounts

by Luke Landes

For those who read this blog — or, for that matter, any blog dealing with personal finance — there are no suprises in this article from CNN Money, Online savings accounts duke it out. The article discusses ING Direct and its newer rivals in the higher-interest online-only savings bank scene, Emigrant Direct and HSBC. An ... Continue reading this article…

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Current Checking and Savings Rates

by Luke Landes

The table containing the latest checking and savings account rates has moved. Please update your links.

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The $5 Timing Error

by Luke Landes

I didn’t time a transfer correctly and it cost me five dollars. Thinking a couple of checks wouldn’t be withdrawn from my Wachovia checking account until today, I scheduled a transfer in from an ING Direct savings account for yesterday to cover the funds. It looks like the checks withdrew yesterday but the deposit didn’t ... Continue reading this article…

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