i wanna open a savings account...

[kpc2593]

I need to open up a savings account ASAP....I got more than 2 grand that I can put into it...so the question is...

Which bank do I go with? I really don't want to consider a online savings account; only a branch-based savings account...

Let me know....

[JConner]

If you are looking to leave that 2 grand alone for a long time go with a ROTH IRA! I have one through TD Ameritrade. Most bank savings accounts will not give you as good of a return as a ROTH. If you are totally determined not to do the online thing go with a community bank/credit union. Community banks and credit unions usually will give you the best interest rates compared to mega banks.

check out www.clarkhoward.com (http://www.clarkhoward.com/) for some more info
i listen to Clark almost every day that I can and thanks to his advise i'll probably be retired by 50

[BanginJimmy]

if you have access to a credit union I would start there.

[MR. 200SX]

http://www.bankrate.com/brm/rate/mmmf_highratehome.asp?params=US,416&product=33

You can start here. I got a savings account with HSBC and they been good so far. With the economy as it is right now rates are low to the ground. They used to offer over 5%APR, now it's like 3.50%.

[Lucky DAWG]

Wachovia.




put me down as the reference and GIVE ME MY 25$!!!

[MistaCee]

I am with Bank of America... They have a neat little savings thing that adds your change from your purchases to your savings.

[sararose]

I am with Bank of America... They have a neat little savings thing that adds your change from your purchases to your savings.

I LOVE that thing! I've had Bank of America for about 2-3 years now and have $657.89 right now from that change thingy! :lmao: woot! I eat out... a lot. :(

[.:EuRo FLYbOy:.]

I am with Bank of America... They have a neat little savings thing that adds your change from your purchases to your savings.

x2 :goodjob:

[GIXXERDK]

I am with Bank of America... They have a neat little savings thing that adds your change from your purchases to your savings.

I dont think you can directly deposit money into it though.

[ash7]

Ameritrade is a good place to put money.

Or you could open a money market account...

Gold is also a wise investment.
-jonathan

[JennB]

Do not go with Wachovia or BOA. Those banks pay a fraction of the interest that you can earn in an online savings account.

I'm with ING. They are at 3% APR right now. It's not the highest but it's really good. No minimums to earn interest or avoid fees. You earn 3% if you have $2 or $20,000.

BoA's website states that their current savings rate is .20% with a $300 minumum. That's 1/5th of one percent. Wachovia's Way 2 Save is worth looking into but Ihave to read the fine print. I have a regular savings at Wachovia and it barely pays interest at all. I only keep a few hundred in there just in case and my real savings is always in my ING.

I can give you a referral to ING for a free $25 when you open an account. PM me your e-mail.

[kpc2593]

Do not go with Wachovia or BOA. Those banks pay a fraction of the interest that you can earn in an online savings account.

I'm with ING. They are at 3% APR right now. It's not the highest but it's really good. No minimums to earn interest or avoid fees. You earn 3% if you have $2 or $20,000.

BoA's website states that their current savings rate is .20% with a $300 minumum. That's 1/5th of one percent. Wachovia's Way 2 Save is worth looking into but Ihave to read the fine print. I have a regular savings at Wachovia and it barely pays interest at all. I only keep a few hundred in there just in case and my real savings is always in my ING.

I can give you a referral to ING for a free $25 when you open an account. PM me your e-mail.

yea...I did some research on ING and HSBC...both are online, but ING has 3 APR and HSBC has 3.50APR...

but if I don't want to consider a online savings account, I have talked with Associated Credit Union and they are offering me a 2.50APR....and suntrust is offering me the same rate too

[Danny]

yea...I did some research on ING and HSBC...both are online, but ING has 3 APR and HSBC has 3.50APR...

but if I don't want to consider a online savings account, I have talked with Associated Credit Union and they are offering me a 2.50APR....and suntrust is offering me the same rate too


I just opened up a HSBC account last week. Seemed to handle the opening well. They send you login ID, password and account info all at sperate times spread over snail mail and email. So you have to intercept all three at different times get access (security is good to think about this day and age). Im not sure if this is the standard, as Im no bank professional.

I would not look at the current APY too hard, as it changes from month to month or week to week. When i was researching I looked for historical APY charts for the major banks. HSBC and Etrade seemed to be always the most competive (historically). I went with HSBC because thier 3.5% is fixed for a couple months, and is a little higher currently than etrade. But that will all change in a month or two.

Credit unions are also another good option and could be worth investigating.

[MistaCee]

I dont think you can directly deposit money into it though.

What do you mean in your savings? If so yea you can.

[UpSideDownDesi]

come in my branch and i'll take care of you :goodjob:
Suntrust in Grayson.

[Mr_Mischif]

And you guys who have HSBC know that after mid-August your rate is going to plummet, right? That 3.5% APY offer is only good until then. Anyway, I've been thinking about getting an ING savings account too, but SmartyPig has a much better savings rate, I just don't know if I can use it as a regular savings account.

[JennB]

Why would you guys not want an online savings account? I've had mine for 3+ years.

Just curious.

[quickdodge®]

Why would you guys not want an online savings account? I've had mine for 3+ years.

Just curious.

Personal preference, maybe? Why question what he wants?

Just curious. Later, QD.

[JennB]

It's a perfectly valid question and I just want to know. A lot of people have misconceptions about online banking and I like to give people more information on subjects I know a lot about. I have a lot of financial experience and try to help people along in this forum any time I can.

Discussion is good. Someone might actually learn something.

Most regualr banks offer such low rates that it really isn't worth the trouble. That's why most financial analysts will tell you other ways to invest your money other than savings accounts. A savings at a credit union (if you can get a decent APR) may be a good idea as well. It's good to establish a relationship with a credit union because they offer the best loan rates for vehicles and personal loans.

It's important to think of the goal with the money to figure out where you should put it. Are you saving for something specific? Saving for retirement? A home? Just for a rainy day? How long term is this savings?