Okay so I want to open a savings account, so I have a few questions. I've been looking at interest rates of banks such as Wachovia, Bank of America, etc. I'm not really excited about earning next to nothing on my balance. So I started looking around at some online only savings accounts like ING Direct, HSBC Direct, and a few others.

I've never dealt with any online only banks before, so naturally I'm a little skeptical. But the interest rates are up to 10 times that of a regular savings account at a local bank.

Right now my checking account is though Wachovia. I have already looked up that they Wachovia will charge me $3.00 for every transfer that I make to an outside account (anything other than Wachovia), so that's not a big deal. And all of the online savings accounts I am considering do not charge you for any transfers. I also do not need to be able to right checks from this account.

So I guess I'm wondering does anyone have experience with any online only savings accounts, and which would you recommend?

Also, with the one that you use are there any fees for closing the account.