Something’s on my mind, and I’m looking to you for some help.
So now I’m thinking that maybe this is the way to go. The savings account at my bank earns practically 0% interest. But ING is currently paying out 4.5%. Even with not much money to earn interest, 4.5% is a darn good rate.
Pros and cons
The best thing (in my opinion) about online savings accounts is the high interest rates. It’s also good (in some respects) that you can’t just walk into the bank and get all your savings. But you can transfer money online when you need to – even automatically every month.
Personally, I’m a bit nervous about opening an account online. It’s a little unnerving to give money to someone you can’t actually look in the face. I know that I’m being crazy, but that’s the weird feeling I have.
Do you have an online savings account?
Now is where I’d love your input. I’m curious what you guys think about online savings accounts. Do you have one? Do you want one? Why, or why not?
[tags]financial, money, online savings account[/tags]
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