So take your 3 months money and run not a bad return on 10K for 3 months.

Discover Bank is at 1.35% for savings.
http://fb.discoverbank.com/

check out
 

AllstateBank.com

Was just there today and MM acc'ts are paying .85 on acc'ts up to 100k.

Yep - and Benenke(sp) opened his mouth again. They could care less about our savings and retirement funds.

Yipes, .85! Soon we'll be paying Citizens to tend our money. It looks like it is time to move money out of Citizens MM. I've been using it cuz it is easy while I'm seasonally away.

Are the "online" companies really safe? (Ing, Ally, Everbank, etc.) I gather that they all covered by FDIC. But is one "safer" than another?

I know I'm old fashioned, but dealing with tellers and real buildings just seems safer.

Hi Barefoot,

I know exactly what you mean. I have to see the bricks and mortar.

It took me a long time to start using online trading. But finally, in the spring of 2009, I got over that and opened an online account. Of course, the account I opened is at an online brokerage with local offices where I can walk in and hand them my money to deposit. Bricks and mortar for me to see and touch. In fact, I am thinking about switching for trading. I might be able to get myself to do that. Some of those companies have been around forever.

But no banks with cyberspace offices only can get into my life. I have to know where my bank is.

So anyway -- me, too.

Drive-thru Boomersaurus

We've been using ING Direct (www.ingdirect.com) since 2004 for savings and checking. We are very pleased with their interest rates on both types of accounts. When we "write" checks, they will mail them at no charge when they can't perform an electronic transfer. Easy peasy, as barefoot would say :)

The July issue of Consumer Reports Money Adviser has an article titled "Is High Interest Checking for You?" The article explains different kinds of requirements that must be met.

I hesitated posting this because there is no way that I can link it for you. Consumer Reports Money Adviser is a 16-page publication that is by subscription. I use it and also my other 16-pager Kiplinger's Retirement Report as kind of like a Readers' Digest version of what's going on with money stuff. Both publications help me keep up with basic information that might be good to know. Nothing esoteric about either publication. Simple stuff -- my style.

In the July Consumer Reports Money Adviser there is also a good little article that could serve as a basic intro to dividend investing. Solid dividend-payers, if correctly chosen, can help to create a little buffer zone sometimes. Makes the roller coaster ride a little easier on the stomach -- maybe......

Well, I guess this post is not really much help because links are not available, but if any of this interests you, your friendly local librarian might be able to help you find a copy of the July issue. If locating just the article -- the "high interest checking" one is on pgs. 6 and 7 and the dividend article is on pages 8 and 9.

Boomer (geez -- I am starting to sound like that old "Readers' Guide to Periodicals" -- the one with the red cover that was the index for magazines and journals and stuff.)

I use Capital One's money market online. It has consistently paid one of the highest rates for several years now. It's easy, accessible online, and FDIC insured. If you are a Costco member, they also offer a short-term higher rate.

Besides online, you can also get paper checks to write.

I transfer money online among Capital One and two checking accounts. Works for me. I love it.

New Financial Reform Bill about to be signed by President
 

Why all the concern? Wont the new 2000 plus page Financial Reform law protect all of us? Guess we have to wait till it becomes law of the land before we find out.

These high interest checking accounts can be found at the website for checkingfinder. Some pay up to 3.5%, but they require 10-15 debit card purchases per month and some also require electronic statements, online bill paying and/or automatic deposits. This is too much hassle for me, but if you use your debit card for everything you might be interested. I wonder, though, if the rates might eventually go down as a result of tighter regulations on debit card fees.

There is a bank near my house in NC taht is currently paying 4.51%, you have to use their debit card for 10 transactions a month and you have to have at least 1 automatic payment go out of your account monthly. They pay this rate for up to 25K.

http://www.crescentstatebank.com/