These past couple of days have been extremely humid and warm near my home. It almost reminds me of Paraguay, but not quite! To tell the truth I have been looking forward to a good old classic Alabama thunderstorm this weekend, but so far it’s been a no-show.
Speaking of storms, we all hear in the news these days of widespread foreclosures, looming money problems and what not. I have a simple suggestion that may help anyone who wishes to save a little cash or at least make the most out of what they have. There has been an increasing trend these days of people using online banks, including myself. Basically these banks are authentic and secure institutions (FDIC insured and everything), but they do not maintain a host of brick-and-mortar branch buildings, and therefore are able to offer their account holders higher interest rates (especially in savings and CDs) than regular banks, and, at least in my experience, better service. The particular online bank that I use is ING Direct, which currently offers 3% APY on savings accounts and even higher on CDs. The rates change based on the Fed rate, which means they are sure to go up sometime. For months I was getting 4.10% APY on my savings, and I really noticed the difference between it and my old, lame Wachovia savings account where interest seemed to be non-existent. I even keep my IRA retirement fund with ING which will really help in the long-run.
If anyone happens to be interested in investigating ING Direct (ingdirect.com) or other online banks and/or wishes to open an account, just let me know. In fact if you open an ING account as a referral from me, you will receive $25 dollars instantly in your new account (this offer only works though if your initial deposit is $250 or more). ING Direct and other online banks usually work by linking with your existing checking account at a regular bank, and then deposits/withdrawals can be done between the two online or by mail. Accounts do not cost anything to open, maintain or transfer, and you can keep using your old bank for your checking account. I hope this information helps!
For more information, please post a comment here or e-mail me.
Yes, this information helps. I’ve actually been meaning to open an on-line account for a couple of weeks. I have heard good things about ING also…tell me more to earn my $25.
Cool, all you have to do is give me your email address and look for the referral email after I sent it. It will take you to a sign-up page with my referral included. You arrange a deposit from your checking account for $250+ and after verification you will have the $25 in your new ING account.
I’m probably going to do this, but I don’t know you that well so youll have give me you contact info haha jk your like one of my best friends
Thanks for the info. I will have to wait until after May 12th to open it…..I will be a little busy until then
No problem bro, again congratulations and enjoy your honeymoon!