I may be the last person on earth to have a savings account at a traditional bank, so I thought I would ask some friends what the best online savings account has been for you. I’ve been lazy in the past about establishing yet another bank account. I’m finally tired of receiving a horrible rate for my savings account at about .50% I have 3 buddies that talk a lot about the Orange Account, and how great they are. Also, many sites talk about the ING Orange account as a great option at 3.0%. I’ve done a little research on the Orange accounts and noticed that you can link the account directly to your existing checking or savings account. Seems really easy. Any catches that anyone has found?
Some requirements of mine:
1. FDIC insured.
2. No fees or penalties for withdrawal.
3. Yields higher than .50% Should be easy to beat my current savings account.
4. Easy online web access.
5. Great customer support. 24/7 would be nice as I’m sometimes checking accounts and bills late at night.
What has been the best online savings account for your cash? If you know of any alternatives to the ING Orange account, please let me know. I would love to compile a list of passive income or alternative income savings accounts.