If you want to earn some extra cash on your balance, then it is ideal to switch to online savings account.If you want to piggy back on your checking account, then such an account is most suitable. It is possible to transfer the money to savings account when you don’t need it and transfer it back at the time of need. You could also pay all your bills directly.
Although there are umber of banks offering such services the following is a list of some simple and trouble-free accounts where you need not have a minimum opening balance and value without a monthly fee. There are online calculators that you could use to know how much extra cash you would be able to make with these accounts.
Ally Bank Online Saving:
1.70% APY at $ 1 Minimum opening balance. You need not maintain any monthly balance. You can link unlimited bank accounts.
HSBC Direct Savings:
1.55% APY and $1 to start an account. No monthly balance required to be maintained and you could link unlimited external bank accounts.
FNBO Direct Savings:
1.50% APY at $1 to begin a savings account. No monthly balance needed and you can link maximum of 3 external bank accounts.
E-Trade Complete Savings:
This can work with a E-Trade brokerage account if you already have one. 0.95% APY with no minimum balance required to be maintained and $1 to start an online account. Link how many ever external bank accounts you need to.
ING Direct:
It was one of the first banks to introduce a service of this kind. Although they have stopped paying a high interest they are still well known for their customer service, easy to follow procedures and years of providing good service.
1.40% APY, $1 to start, no minimum balance and 3 external bank accounts to be linked.
