Do you recommend any of the higher rate online banks?
I am ready to transfer some of my idle savings into a higher yield online savings account. Do you have favorites?
Terry Says
You can check out the highest rates at Bankrate.com. Make sure you are buying FDIC insured CDs or money market account. And one thing to keep in mind. The delay in wiring the money to your new account could cost you a week’s interest as you move to this online bank. That eats into your return. And check out the fine print — about getting your money OUT when the CD matures!
I much prefer a Fidelity or Vanguard Treasury-only money market fund, currently yielding around 3.6%.
