[kitkat0649]

I logged on this morning to see that the APY of my savings had been lowered to 1% Does anyone have any experience with any other reputable online banks in which they are currently earning more than this %?

 

[ktsmama]

I just check my ING account. It's down to 1%, too. I am about to go check out the savings accounts at my credit union.

 

[dcompton]

I had HSBC. When at the first of the year it dropped to .9% I decided I'd had enough. I'm not keeping as much in regular savings as I used to, so the interest wasn't enough for the online waits. I moved it all into my local bank, which is less than that, but a little less than hardly anything is negligible. I'm happy with the decision - it's more accessible since online transfers to and from checking are instantaneous.

Online savings accounts used to be a really good deal, but no more.

That didn't answer your question, but the vent felt good. Thanks for indulging me!

 

[ktsmama]

I had HSBC. When at the first of the year it dropped to .9% I decided I'd had enough. I'm not keeping as much in regular savings as I used to, so the interest wasn't enough for the online waits. I moved it all into my local bank, which is less than that, but a little less than hardly anything is negligible. I'm happy with the decision - it's more accessible since online transfers to and from checking are instantaneous.

Online savings accounts used to be a really good deal, but no more.

That didn't answer your question, but the vent felt good. Thanks for indulging me!

This is exactly what I am thinking.

 

[Contrary Housewife]

I've been putting mine into CDs. You can get rates of 1.25% for 12 or 15 mo CDs with as little as $500 if you look around.

 

[porembam]

Discover bank went down to 1.2 % - citizens bank is .09% ( ridiculous)
I agree with others and have been putting what I can in short term cds which have better rates then close to 0% in savings and MF accounts

 

[Greebo]

With the mortgage market what it is, you'll be lucky to do much better.

 

[lparker]

I wouldn't worry about it too much...now you're losing 2-3% on your money instead of 1.9-2.9% while the banks are making 10-15% or better on it...probably closer to 200% in the long run.