Flatbeer asked me:
GMAC raised the interest rate to 4.75% ($500 min). I checked the general FAQ and you can now download account info into Quicken & Money. With electronic transfers, downloadable account info, checks, AND a VISA check card, I would think that most people would choose this option for an online money market account. Why do you think they are not?
The email inspired me to update the online savings and checking account rate table. As far as why people don’t use GMAC as often, it’s probably an issue of marketing. I see ads for ING Direct, Emigrant Direct and HSBC Direct constantly, but it doesn’t appear that GMAC markets the product quite as strongly.
Updated February 6, 2012 and originally published April 27, 2006. If you enjoyed this article, subscribe to the RSS feed or receive daily emails. Follow @ConsumerismComm on Twitter and visit our Facebook page for more updates.