Comments on: The Best Online High Yield Savings Accounts

By: Ryan

Ryan — Mon, 21 Sep 2009 21:17:09 +0000

Steve,

I haven’t heard of them before, but that doesn’t mean they aren’t a good bank. I went to BankRate’s Safe and Sound Ratings and looked up StoneBridge Bank.StoneBridge is a relatively small bank compared to some of the banks mentioned in this article. Because the audience of this website is nationwide, I don’t focus on small or regional banks, or banks with membership requirements. That is because there are so many of them and they aren’t always the best option for people who live across the country, particularly when some of the larger banks have a more extensive ATM network, more B&M locations, and excellent online features.

If you are happy with them, then by all means, enjoy your hidden gem!

By: Steve

Steve — Mon, 21 Sep 2009 21:02:14 +0000

I wonder why none of these lists ever include Stonebridge Bank (http://www.stonebridgebank.com), I’ve used them for years now and they have always had high rates with low or no fees, here’s some of the current rates, free interest checking @ 0.10% APY (yeah its low but I only keep min in that & just transfer online to MM), and Premier Money Market @ 1.45% APY with “Minimum average daily balance of $1,000 to avoid $10 monthly service charge” (I’m pretty sure I’ve dropped below that amount in the past & have never been charged, but I think it used to be if you were below said amount it was 0% APY with no fee, I can’t remember), the CD’s currently range from 1.40% (6 month) to 2.75% (60 month) APY. My understanding is they are mostly internet based with only 4 B&M locations. So the thing I really wonder about is, are they some hidden gem I should enjoy sharing & keep or is there something I’m missing and I should run far away…anyone???

By: Jerry

Jerry — Fri, 18 Sep 2009 00:09:55 +0000

Has anyone tried the discover high yield savings? They offer 2%…wondering if they are good or bad. I have my savings in ING now but every month they keep lowering my APR.

By: Martin

Martin — Wed, 16 Sep 2009 16:34:01 +0000

Thanks for the information, as a Canadian moving to the USA the number of banks to choose from were astronomical making a financial institute to choose from to be very difficult. Outside of Credit Unions we only have maybe 10 banks in the whole of the country and for the most part they service nationwide.

For those moving to the USA I would probably recommend HSBC since they are the only international bank on this list which can make it easier moving money in and out of the country.

By: Ryan

Ryan — Wed, 16 Sep 2009 13:53:08 +0000

Go to Gravatar and sign up for a free account. You can upload an avatar which will display on sites based on which e-mail address you use. You can set up Avatars to display in the WordPress Dashboard under Discussion Settings if your theme is set up for them. Many themes have this capability enabled. I currently use Thesis, which you can read about here: Thesis Premium WordPress Theme Review.

By: Financial Samurai

Financial Samurai — Wed, 16 Sep 2009 05:00:28 +0000

Hey Ryan – Sounds good man. BTW, how on earth do I upload my picture in my profile on your site? I’m a computer dummy.

By: Ryan

Ryan — Wed, 16 Sep 2009 01:41:00 +0000

Financial Samurai, I have a 5 year CD ladder for a good portion of my savings, but it is also nice to (and sometimes necessary) to retain flexibility with some funds. Most of these banks offer very attractive CD Rates, so it is very possible to save in CDs and in a savings account. Here is more information about How to Build a CD Ladder.

By: Financial Samurai

Financial Samurai — Wed, 16 Sep 2009 00:32:52 +0000

I would seriously suggest looking into 5 yr CDs and ladder your money. Every year you earn only 1.5% is like losing 2.5% because you’re not in a 5 yr CD.

Sure, inflation may go up, bringing up rates with it. However, simply then lock in that year’s bonus or cash reserves in a higher yield and repeat.

Citibank was offering 4% for a 5-yr, and they are still offering 3.75%.

It adds up… if you have $500,000 in savings and miss out on 2.5% every year, that’s $12,500!