where to put my savings

[{OF}Blong]

Ok I have started putting $$$ into savings (no I havent used any of my income tax returns to do so). however I have been looking at intterest rates. right now I have money in a Money Market account through my bank which I have access to immediatly if I need it. However its only earning 1% (which is 2x more than regular savings is making). I do have a paypal account that yesterday was at 4.74% but its not FDIC insured like the account with my bank is so I dont feel safe putting a ton of $$$ into that. Is there any other form of account I can look at that will give me more than 1% interest but yet I can access immediatly should I need? I plan on opening an 8 month cd at 8% interest here shortly through my bank (its a promotional thing) but thats obviously not something I can have access to immediatly without penalties. So other than what I am already doing is there something else that might net me more interest than my current situation? and I am talking something closer to what paypal offers in interest.

[Soul]

I am willing to bet your are going to have a tough time finding something with those requirements, to get higher interest you have to be willing to not have access to it immediately, you can shop with your local banks, I would not be willing to bet with paypal, but that is just my opinion,

[{OF}Malicious Assault]

Check with online firms like ING, TDAmeritrade, Etrade . I think they have accounts that have Higher interest. But they have no branches and you have to do all you banking on the phone and through the internet. You would have to do some research on that, not sure how those investment accounts work. As far as regular banks go 1% with full access is probably about as good as your going to get.

[{OF}G_Man]

Check out Lake Michigan Credit Union. They have a checking type account you can access online, etc. have some rules, but pays up to 5% interest on a miximum of $15,000. Like everything else there are always strings attached.

I've been noticing that the credit unions (not all of them) offer some more flexibility than the traditional banks.

[dudio]

Originally Posted by {OF}G_Man

..on a miximum ...

Blong: This person obviously is confused. Miximum's not even a word !
Your best bet is to send the money to me, and I'll see what I can do with it.

[Doom]

Definitely be wary of Paypal...they can, and will, take your money and hold it for 6 months, and don't really care much for reasons (I have a dispute with them...they ended up freezing my Mom's account, and she's in a different state).

Ed Jones has a money market account paying 4ish percent, and you can get your money in a few days (and write a limited amount of checks, I believe).

IF it's savings...put it in gold.

[{OF}Blong]

lol this is an emergency fund so a few days really isnt necessarily an option. Thanks G_Man I will look them up. That sounds like a good option for me since I am trying to get the 3 months of savings saved lol. Easier said than done but someday lol.

*edit
Man G_man I was getting excited about that account reading about it until I saw
2. Minimum of 10 debit card purchases per month
I dont want to use it at all is the problem =[. But thats the only drawback I see tot hat account. HMMMM I forgot to mention that my bank Is a credit union.

[Psycho Nitro]

You can try Schwabs. I have seen a couple commercials for them lately. It is a checking account with a 3.01 interest rate no matter what amount you have in your account.

Online Banking: Checking, Credit Cards, Home Financing Center from Charles Schwab Bank

I have no clue how they are but it might work for you.

[{OF}Blong]

Originally Posted by Psycho Nitro

You can try Schwabs. I have seen a couple commercials for them lately. It is a checking account with a 3.01 interest rate no matter what amount you have in your account.

Online Banking: Checking, Credit Cards, Home Financing Center from Charles Schwab Bank

I have no clue how they are but it might work for you.

Do I need to open a Schwab One brokerage account with my Schwab Bank High Yield Investor Checking account?
Yes. The Schwab Bank High Yield Investor Checking account is only available when linked to a Schwab One brokerage account. When you open a High Yield Investor Checking account, you must open a Schwab One brokerage account. The two accounts will be connected, so you can easily transfer funds between them to meet both your investing and checking needs. While you’re under no obligation to use the Schwab One account, we think you’ll find it to be very convenient. And, you’ll enjoy all of the benefits of investing with Schwab brokerage at no additional cost.

not sure im ready to open a brokerage account but I cant find any information on their website about the brokerage acccount. It looks like it might be something that if you put $$$ into the brokerage you have to pay 9.95. But it says I dont have to have any $$$ to put into the brokerage. Guess I am gonna have to call them and get more details. thansk .

[Harbinger]

Originally Posted by dudio

Blong: This person obviously is confused. Miximum's not even a word !
Your best bet is to send the money to me, and I'll see what I can do with it.

Want to start a pyramid scheme?