Ok, money gurus: I've been thinking for a while now about opening some type of money market savings/checking account. I found one online for a very reputable bank that's offering 3.09% annual interest, has a $1 minimum opening balance, and no fees. All the rest of the ones I've seen don't have anything CLOSE to that. What am I missing? I've searched everywhere for any and all "fine print" but haven't found any red flags. Any assistance would be much appreciated.
Call MCT Credit Union and see if qualify to be a member. They offer 6.01% on the first $25K on their "Extreme Checking" account. http://www.mctcu.org/home/checking
try INGDirect. just the savings account gets you 3%. i think CDs are higher. before the Feds cut the rate, it was almost higher than 5%. it's a big company too. so...
Fidelity brokerage account. The ability to get checking, debit card, and trade securities in the same account while also earning interest on your cash
HSBC - I shopped around quite a bit, and that's the best interest rate I found without having to open the account with a minimum opening balance of $10,000 or more. I guess I was a little uneasy about having an account with an "online" bank.
You're not missing anything. I've been using HSBC for the past year and it's been pretty good. I also opened one up with E*Trade. E*Trade is cool because you can also open a brokerage account to buy mutual funds, and it's easy to transfer money. There was an article in Fortune magazine and they rated both these banks among the top.
