4/28 Reviews on money market/direct accounts as of April:
ING Direct: 4.50%. Takes about 3-4 days to transfer to/from your
bank accounts. Can link up to 3 accounts. The UI is very
simple and the security is very good (random keypad that
requires the mouse). Adding a new account requires you
to send them a void check.
\_ I recently opened an account with ING direct and linked it
to my checking account. I did not have to send them a
voided check; the process was the same one you describe
below for Emigrant Direct.
\_ Yes first account is easy, 2nd and 3rd link requires
a void check. Stop interrupting my post asshole.
\_ Also have "all electronic" interest-bearing checking
account. You can transfer money to any other bank
account. Will also mail checks.
Emigrant Direct: 5.05%. Takes SEVEN days to transfer to/from
bank accounts. The UI isn't as intuitive as ING but it
is quite decent. Linking accounts requires you putting
in bank routing+account, and when they deposit/withdraw
2 amounts, you put that in. High interest rate, but
takes too long to transfer in/out of the account.
PayPal: 5.04%. Takes 3-4 days. High interest rate and low
transfer time. I'd transfer all of my money into it
except I've heard a lot of bad things about PayPal's
security.
\_ Anyone try HSBC Direct?
\_ Vanguard Prime Money Market: 5.10%. Takes 2-3 days. Quite reliable,
none of this fuzzy, hand-waving "ACH is unpredictable" bullshit.
$3000 minimum balance, $100 increments, tho.
\_ Amtrustdirect, 5.36% APY, $1000 minimum. Website isn't as good
as ING.
\_ Note that even for, say, $10k, the yearly income difference
between 4.5% and 5% is $50. I suggest basing your choice
primarily on features rather than interest rate. -niloc |
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