As of earlier today, ING Direct, one of my choices among the best high-yield online savings accounts, has lowered the interest rates offered on its savings and checking accounts. The bank has lowered the yield on its savings account from 2.5% to 2.4% APY, while the rates on the two upper tiers of the checking account have decreased from 2.6% to 2.5% and from 2.8% to 2.7%.
While ING Direct doesn’t top the high-yield interest list, readers still consider this bank one of their favorites thanks to usually excellent customer service. Consumerism Commentary readers are continuing to provide referral links, which allow new customers to earn an immediate 10% return: if you do not currently have an ING Direct account and you have $250 to deposit initially, claim your $25 bonus by opening your ING Direct account using one of the links listed here, and I’ve refreshed the list today. When you use one of these links properly, the Consumerism Commentary reader who supplied the referral will also earn $10. Once you’ve opened your account with a bonus, you’ll receive fifty referral links of your own, twenty-five for the savings account and twenty-five for the checking account, allowing you to earn an additional $500.
One more administrative update. Thank you to every Consumerism Commentary reader who has taken the short time to complete this survey. Doing so, if you’ve left an email address, will automatically enter you in a drawing to win a $50 Amazon.com gift card. Please, no multiple entries. I’ll find out and disqualify you from the drawing. More importantly, it would skew the data. The survey will close tomorrow, Wednesday, January 21.
Updated June 16, 2011 and originally published January 20, 2009.