look for high interest savings account with no fees and no min balance, suggestions?

Quote from aznnp77 : I realize that the market was dictating the 5% rates at the time, that's why I mentioned that it was crazy and that it was before the subprime crisis. We all know those rates are not coming back any time soon. thanks. but the OP didn't ask for sentimentalism or prognostication. The request was for a HIGH-YIELD, NO-FEE, N0-MIN-BALANCE SAVINGS ACCOUNT You are probably right about the BOA interest rate. I've never really checked, I just know it's so low that it doesn't really matter what it is. there's a huge difference between 0.05% & 0.5%. you might want to verify your intuition before posting it & misleading others. My whole point was that the difference in rates likely isn't going to matter for a lot of people. who cares? the OP isn't "a lot of people." it apparently matters to him. otherwise, he probably wouldn't have created this thread, right? We don't know how much the OP is working with, but if they had a lot of available cash that they weren't planning on using, they likely would seek other options options. how do you know that? and how do you know that his circumstance are static? They also would go with a "money market" account as opposed to a regular savings. why? These banks can change the rates whenever they feel like it, so you never know what the rate will be 6 months from now. pretty sure the OP realizes this. if he wanted a fixed rate, he'd most likely have asked for CD recommendations. Ally is offering .89% APY right now as someone else mentioned, which seems pretty good. yea, it's a HIGH-YIELD, NO-FEE, NO-MIN-BALANCE savings account. that's why somebody mentioned it. So that's approximately $90 in interest for the year based off of $10,000 compared to not having a savings at all. Some may find the convenience of a local bank and easy access to be worth that difference. who cares? that's not what the OP asked for. btw, this is 2012. online accounts are convenient & accessible. what bizarro world are you living in? I live in Virginia, and Virginia Commerce Bank is offering .40 on a mega savings and .50 on a money market, likely with min balance requirements though. LOL! so why even mention it? The OP mentioned no min balance in their title. So to me, this person either is not dealing with a large sum of money, or wants the possibility of liquidating their account if necessary. A local bank would suit this person. LOL! what kind of bizarre reasoning is that? Reminder: the OP's criteria are: HIGH YIELD NO FEES NO MIN. BALANCE everything else you've mentioned is IRRELEVANT. ONE MORE TIME: The OP asked for a HIGH-YIELD, NO-FEE, NO-MIN-BALANCE savings account. Did he ask for ANYTHING ELSE? NO! This is why the rest of us are recommending HIGH-YIELD, NO-FEE, NO-MIN-BALANCE savings accounts.

........

Quote from aznnp77 : I realize that the market was dictating the 5% rates at the time, that's why I mentioned that it was crazy and that it was before the subprime crisis. We all know those rates are not coming back any time soon. You are probably right about the BOA interest rate. I've never really checked, I just know it's so low that it doesn't really matter what it is. My whole point was that the difference in rates likely isn't going to matter for a lot of people. We don't know how much the OP is working with, but if they had a lot of available cash that they weren't planning on using, they likely would seek other options options. They also would go with a "money market" account as opposed to a regular savings. These banks can change the rates whenever they feel like it, so you never know what the rate will be 6 months from now. Ally is offering .89% APY right now as someone else mentioned, which seems pretty good. So that's approximately $90 in interest for the year based off of $10,000 compared to not having a savings at all. Some may find the convenience of a local bank and easy access to be worth that difference. I live in Virginia, and Virginia Commerce Bank is offering .40 on a mega savings and .50 on a money market, likely with min balance requirements though. The OP mentioned no min balance in their title. So to me, this person either is not dealing with a large sum of money, or wants the possibility of liquidating their account if necessary. A local bank would suit this person.

thanks for pointing it out, the min balance is roughly $10,000 to $15,000

and i don't have the experience nor desire to play the stock market, CD's would be my priority but the rates are so low now that i won't even consider, i guess you could classify me as risk-averse

Quote from financechick : ........

lol...i wonder how long it took you to form your response,,,, thanks!

Goddamn FinanceChick, go out for a walk or something. What the OP is asking for very simply DOES NOT EXIST. If you or OP thinks that .89% is high yield, great, Ally is happy to take your money. Instead, using a very logical set of assumptions aznnp77 gave some very sound advice. For example, having the OP look around his local area for smaller banks who might have a better deal that hasn't made it internet wide yet. For example, I think NFCU recently had a 1 year cd at 2%. Better deal for OP interest wise, but obviously not liquid. Since OP can't have everything in life, the best we can do is guess based on what he has told us.

So, OP, why not a little more detail:

1. How much money are we talking here? If we're talking about $1k vs. $100k there are very different "best options" for you.
1a. OP - Please realize that if we are talking $1k, we're arguing over pennies.
2. What is your time horizon here? You may need the money at any point in the future, won't need the money for a year? 2 years? 10 years? Again, we can try to make guesses (my guess is you're a college student who needs a smart place to stash his beer fund) but then I suppose I'll get an angry response from Financechick for guessing.
3. What part of the country are you in?
4. Do you have a job that provides a direct deposit (this is very important)

Quote from aznnp77 : I was looking into savings accounts a few years back before the subprime crisis hit. They were offering 5% savings accounts at the time. That was crazy. The thing about these "teaser" rates is that they can change them at any time without really much notice. It seemed like every other month I would get a notice saying that my savings APR would be dropping .5% until it (and basically all savings accounts) settled at around .50% APR. That's basically what everyone is handing out these days. .50 to .75 would be the typical range. At that point I didn't make such a big deal out of it. I won't go through the calculations of the exact number, but let's say you've got $10,000 you want to put in that savings account. The difference between a big local bank like BOA at .50% and some relative unknown online .75% is going to be $25 a year. I realize that it is a savings account, but some people would chalk up the $25 difference to a convenience charge and knowing you would have easy access (if needed) to your funds. I guess it would matter if you had $100,000 in the account, but if you had that much money, I would suggest you do other things with it. Savings accounts have pretty low APRs because of what they are. It's an account that has no guarantees about how much money you're going to keep in it. It's essentially a checking account that earns interest. The thing about local banks though is that they have like a $100 minimum, so if your savings don't go as planned, you'll end up paying a $10 maintenance fee and giving back all your interest for a year.

Agreed and backed.

There is no such thing as a high-yield savings account today, so arguing that any of these answers are what the OP is asking for is absurd.

If you need an account with no minimum balance, what is the point of trying to use a savings account? If you need your funds that liquid or your funds are in a small enough amount that it won't meet the threshold of "higher" rate accounts, why go through the time and effort of opening an account, doing transfers, etc.

Let's say you bank with BOA and you put funds with Ally in a savings. So something happens and you need the money immediately to fix an issue. You either wait 2-3 days for an ACH or wire the money to yourself and eat all or a large percentage of your interest gains with the wire fee.

Keeping funds spread out for .5 or .89 just doesn't make any sense whatsoever to me. If you're risk averse, you probably shouldn't be putting your cash with a bank that needs to buy your money and offer the highest interest rate because either their reserves are low or they're hurting for more loans/deposits on the books and need to bring in the money quickly.

I agree with the other poster who closed the ING account - so did I. It was annoying if/when I needed to make transfers. I closed ING Direct ckg, sav, ira and brokerage because of the Capital One purchase.

if you are in the northwest area, BECU (www.becu.org)
no fees/minimums, 6.7% last i checked

Quote from koby333 : if you are in the northwest area, BECU (www.becu.org) no fees/minimums, 6.7% last i checked

6.17% on the first $500 deposited
0.10% on the everything over that

Quote from flightxxx : lol...i wonder how long it took you to form your response,,,, thanks!

Quote from mwa423 : Goddamn FinanceChick, go out for a walk or something. What the OP is asking for very simply DOES NOT EXIST. If you or OP thinks that .89% is high yield, great, Ally is happy to take your money. Instead, using a very logical set of assumptions aznnp77 gave some very sound advice. For example, having the OP look around his local area for smaller banks who might have a better deal that hasn't made it internet wide yet. For example, I think NFCU recently had a 1 year cd at 2%. Better deal for OP interest wise, but obviously not liquid. Since OP can't have everything in life, the best we can do is guess based on what he has told us. So, OP, why not a little more detail: 1. How much money are we talking here? If we're talking about $1k vs. $100k there are very different "best options" for you. 1a. OP - Please realize that if we are talking $1k, we're arguing over pennies. 2. What is your time horizon here? You may need the money at any point in the future, won't need the money for a year? 2 years? 10 years? Again, we can try to make guesses (my guess is you're a college student who needs a smart place to stash his beer fund) but then I suppose I'll get an angry response from Financechick for guessing. 3. What part of the country are you in? 4. Do you have a job that provides a direct deposit (this is very important)

Op, yes please more details.

Also to consider doing at Ally is the long term CD option. Their CD's have very low EWP 2 month (early withdrawl penalty) but a 5 yr cd with 1.74 is a good option.

If you have 10K, open 1 5K cd and 5 1K cd. If you need liquidity, break the cd that makes sense and keep the others at higher rates. the break even point for the cd is not that long so do consider this option.

http://www.depositaccounts.com/bl...-2012.html

Try American Express:

http://personalsavings.americanexpress.com/

Their current rate is 0.85% and the account setup was fast and easy, and customer service has been good so far. Also very easy to transfer money back and forth with my checking account at another bank.

Quote from Formless : Agreed and backed. LOL! BofA does NOT pay .5% interest on savings accounts; it's a laughable 0.05% in CA & 0.01% in some other states. there's also a monthly fee of $5, if you fail to satisfy fee-waiving conditions There is no such thing as a high-yield savings account today, so arguing that any of these answers are what the OP is asking for is absurd. "high yield" is RELATIVE to CURRENT market conditions, NOT to what market conditions were 5 years ago. If you need an account with no minimum balance, what is the point of trying to use a savings account? high interest & high liquidity? If you need your funds that liquid or your funds are in a small enough amount that it won't meet the threshold of "higher" rate accounts, why go through the time and effort of opening an account, doing transfers, etc. Let's say you bank with BOA and you put funds with Ally in a savings. So something happens and you need the money immediately to fix an issue. You either wait 2-3 days for an ACH or wire the money to yourself and eat all or a large percentage of your interest gains with the wire fee. LOL! Ally offers a free checking account. One click, & money transfers intermediately from savings to checking. http://www.ally.com/bank/interest...g-account/ also, Ally's ACH is wicked fast. money usually shows up in an external account the next day. additionally, if you "pull" the funds into an high-yield, external account, interest generally starts accruing the next day (even before the funds are available). so there's often a "double dip" on interest for at least one day. Keeping funds spread out for .5 or .89 just doesn't make any sense whatsoever to me. LOL! you really can't think of any instance where that would make sense? If you're risk averse, you probably shouldn't be putting your cash with a bank that needs to buy your money and offer the highest interest rate because either their reserves are low or they're hurting for more loans/deposits on the books and need to bring in the money quickly. LOL! why say something so PAINFULLY stupid? ever hear of a little something called FDIC? oh & then there's this: Texas Ratio The Texas Ratio is an indicator of how much funds a bank has available compared to the total value of loans considered at risk. As of March 31, 2012 Ally Bank had $295.52 million in non-current loans and owned real-estate with $14.07 billion in equity and loan loss allowances on hand to cover it. This gives Ally Bank a Texas Ratio of 2.10% which is EXCELLENT. Deposit Growth In the past year, Ally Bank has increased its total deposits by $6.72 billion, resulting in 18.39% growth for the year. A strong track record of growth is an indicator of consumer confidence and the bank's ability to strengthen its balance sheet. The growth Ally Bank has shown is EXCELLENT. Capitalization Both FDIC and NCUA consider capitalization levels of banks and credit unions to be of high importance. Higher capitalization allows for a greater buffer when cover loans that may fail in the future. Ally Bank has $88.63 billion in assets with $14.07 billion in equity, resulting in a capitalization level of 15.87%, which is EXCELLENT. http://www.depositaccounts.com/ba...-bank.html I agree with the other poster who closed the ING account - so did I. It was annoying if/when I needed to make transfers. LOL! it's one click, if you've got both checking/savings. each account is free. so why not have both? I closed ING Direct ckg, sav, ira and brokerage because of the Capital One purchase. LOL! I thought you closed your ING accounts because those easy, one-click transfers were so annoying.

........

Quote from financechick : ........

FinanceChick, I realize you are probably more knowledgeable than I am about the subject, however I think I offered some pretty good advice to a person that was asking for some help.

I was just pointing out that the OP is not going to earn gobs of interest putting their money into a savings account. Sometimes you look for a solution and find an even better one. I was just pointing out to not make a big deal out of a few tenths of a percentage rate and go with a situation that they would be most comfortable with, because "rate chasing" as some would call it would have a financial benefit that is almost neglible considering how much the investment is.

Quote from financechick : ........

I have no idea how to read your response.. What parts are different from the above post that look similar?

Quote from financechick : LOL! BofA does NOT pay .5% interest on savings accounts; it's a laughable 0.05% in CA & 0.01% in some other states. there's also a monthly fee of $5, if you fail to satisfy fee-waiving conditions I don't care about BOA at all. I wouldn't put money with them and wouldn't recommend it to anyone else. My point in saying that I agreed was to the meaning of the post, not each individual rate or account that was mentioned. My point was that your response is ludacris. "high yield" is RELATIVE to CURRENT market conditions, NOT to what market conditions were 5 years ago. Sure, I agree that it is relative. But earning nothing on nothing is still nothing. What is the difference in the spread? Since we're looking for something that doesn't have a minimum, lets assume that we have $500 to save. (Another example below) $500 @ .01% is $.05/year - @ .50% you'll earn $2.50 - you've still earned nothing. It will still take 144 years to double your money. high interest & high liquidity? Next example: Liquidity isn't a factor in a savings account - even if it has a minimum. If you need the money, guess what you can do? CLOSE THE ACCOUNT. You can avoid that fee for going below the minimum by closing the account if you can't meet it any more. If you have more than $10,000 to invest, you'll get a better product with someone who may have a minimum on their account. LOL! Ally offers a free checking account. One click, & money transfers intermediately from savings to checking. http://www.ally.com/bank/interest...g-account/ also, Ally's ACH is wicked fast. money usually shows up in an external account the next day. additionally, if you "pull" the funds into an high-yield, external account, interest generally starts accruing the next day (even before the funds are available). so there's often a "double dip" on interest for at least one day. I didn't say that you wanted the money available to spend on a debit card with a maximum or that you wanted to write a check, I insinuated that you wanted cash. If you want to be able to walk in and walk out with a large sum of money - you can't. The one day transfer time to your checking... Still an issue. Your response to this being an issue is the same as my response to the low savings rate being unworthy of any extra effort - they're opinions. We're both entitled to them and we're both entitled to explain and recommend them. LOL! you really can't think of any instance where that would make sense? No, honestly I can't. If I have $250,000 and I would actually earn a few bucks in the higher rate account, I wouldn't keep it in a savings. I would have my funds in something providing a much higher return (3yr fixed annuity if I was risk averse, but in my case I'd have it in an all-growth portfolio). For the funds that I actually do keep in savings (only my emergency fund of 6mo of living expenses), I don't really care if they earn anything. LOL! why say something so PAINFULLY stupid? ever hear of a little something called FDIC? oh & then there's this: Texas Ratio The Texas Ratio is an indicator of how much funds a bank has available compared to the total value of loans considered at risk. As of March 31, 2012 Ally Bank had $295.52 million in non-current loans and owned real-estate with $14.07 billion in equity and loan loss allowances on hand to cover it. This gives Ally Bank a Texas Ratio of 2.10% which is EXCELLENT. Deposit Growth In the past year, Ally Bank has increased its total deposits by $6.72 billion, resulting in 18.39% growth for the year. A strong track record of growth is an indicator of consumer confidence and the bank's ability to strengthen its balance sheet. The growth Ally Bank has shown is EXCELLENT. Capitalization Both FDIC and NCUA consider capitalization levels of banks and credit unions to be of high importance. Higher capitalization allows for a greater buffer when cover loans that may fail in the future. Ally Bank has $88.63 billion in assets with $14.07 billion in equity, resulting in a capitalization level of 15.87%, which is EXCELLENT. http://www.depositaccounts.com/ba...-bank.html You've obviously never had direct experience with the FDIC. Having worked with them through two banks going bust, the experience is lackluster compared to public opinion. So you have a large amount of money with a bank and it fails - do you know what happens next? Do you think that your money magically appears in a new, usable account? Most people will find that their money takes weeks, months, and sometimes years to be returned. Also, the FDIC has no set repayment time table - they pay "as soon as possible." My $30,000 that was in a savings took three years of monthly payments to be returned to me. Relying on the FDIC for coverage is fine, but expect to have any interest earned evaporate immediately and receive only a return of your original principal. Expect it to take a long time and expect to earn nothing on your money while the FDIC holds it and disburses it to you slowly. LOL! it's one click, if you've got both checking/savings. each account is free. so why not have both? Because I don't want to wait the 1, 2, or 3 days it takes to get my money when I need it. LOL! I thought you closed your ING accounts because those easy, one-click transfers were so annoying. You must have mis-read. I did close an ING account (singular, not plural) because of the inconvenience. I closed the rest after Capital One. ........

The reality of the conversation is that this is a forum and we're here to give opinions and answer questions. Neither of us are wrong, but we have different beliefs. Your efforts to make me sound wrong are pointless. Nothing that I've said is wrong.

I understand that you may want to STRONGLY voice your opinion, but you don't need to be demeaning. Relax. Accept that people are different and have an open discussion.

If earning half of a percent is that important, then do it! If you have other life goals other than simple low-interest savings accounts, find another product that is popular in today's market.

Overall, don't just focus on this one issue. We need more information to actually provide a recommendation. Asking for an account with high interest and no minimums is fine, but provide clarification as to why you want it. Some accounts better fit needs than others.

(inB4 obscene quote response where everything I said is nitpicked and blown out of proportion to make someone feel better and more powerful).

I don't care about BOA at all. I wouldn't put money with them and wouldn't recommend it to anyone else. My point in saying that I agreed was to the meaning of the post, not each individual rate or account that was mentioned. My point was that your response is ludacris.

HINT: don’t agree with somebody who’s said something factually inaccurate, & then cry foul.

"high yield" is RELATIVE to CURRENT market conditions, NOT to what market conditions were 5 years ago.

Sure, I agree that it is relative. But earning nothing on nothing is still nothing. What is the difference in the spread? Since we're looking for something that doesn't have a minimum, lets assume that we have $500 to save. (Another example below) $500 @ .01% is $.05/year - @ .50% you'll earn $2.50 - you've still earned nothing. It will still take 144 years to double your money.

LOL!
$500 is actually SOMETHING to MANY people (try snatching it out of somebody's hand)

$2.45 is also SOMETHING to MANY people (Haven’t you seen hundreds of people standing in line for a free Denny’s breakfast?)

You’re assuming that there will be no more than ONE deposit of $500 (the OP likely anticipates future deposits, no?)

Also, a savings account is not intended to “double money” quickly. It’s a place to store cash for SHORT-TERM NEEDS.

Therefore, your example is DUMB.

Next example:

Liquidity isn't a factor in a savings account - even if it has a minimum.

liquidity isn't a factor? LOLWUT? all the money in the account is CASH & AVAILABLE! You really are a insurance salesman, aren’t you?

If you need the money, guess what you can do? CLOSE THE ACCOUNT.

LOLWUT? that's the ONLY way you can get the money? I just transferred $7k from savings to checking. BUT my savings account is STILL OPEN!

You can avoid that fee for going below the minimum by closing the account if you can't meet it any more.

what FEES? we're discussing NO-FEE, NO-MINIMUM BALANCE savings accounts. perhaps you're in the wrong thread.

If you have more than $10,000 to invest, you'll get a better product with someone who may have a minimum on their account.

"better" in what ways & for whom? And who’s talking about INVESTING? The OP just needs a place to park some CASH for HIS SHORT-TERM needs. Do you peddle financial products for a living?

I didn't say that you wanted the money available to spend on a debit card with a maximum or that you wanted to write a check, I insinuated that you wanted cash. If you want to be able to walk in and walk out with a large sum of money - you can't.

in an emergency, you could:

*transfer money from savings to checking online (one click)

AND

*open several local accounts, and deposit $5k in each one (with checks from your online checking account).

unless you're a deadbeat, you'd get immediate access (in cash) to those funds. this situation might require a phone call or three to your online bank for funds verification. you'd get your money, though.

BUT BE REALISTIC. if the OP frequently encountered an IMMEDIATE need for HUGE sums of cash, do you think he'd put ALL of his funds in online banks that lack branches?

of course not. he'd already have relationships in place with a B&M institution or two, which would gladly cash big checks for him & give him a HUGE sum of cash IMMEDIATELY.

The one day transfer time to your checking... Still an issue.

Savings ----> Checking @ the same online bank.

Check ---> Local Checking Account @ local branch

CASH IN HAND

VICTORY DANCE

Your response to this being an issue is the same as my response to the low savings rate being unworthy of any extra effort - they're opinions. We're both entitled to them and we're both entitled to explain and recommend them.

LOL! What opinion? That you might need to wait a day for funds to transfer to an external account? That’s a FACT!

LOL! you really can't think of any instance where that would make sense?
No, honestly I can't. If I have $250,000 and I would actually earn a few bucks in the higher rate account, I wouldn't keep it in a savings. I would have my funds in something providing a much higher return (3yr fixed annuity if I was risk averse, but in my case I'd have it in an all-growth portfolio).

that’s YOU. Other people might not be able or willing to tie up funds for three years (and get ripped off with annuity fees) or subject their money to the unpredictability of the stock market.

For the funds that I actually do keep in savings (only my emergency fund of 6mo of living expenses), I don't really care if they earn anything.

LOL! And you assume nobody else cares either? I care. The OP cares. And so do thousands (if not millions) of other people. HINT: this is why there are so many websites that show us what institutions are paying the highest interest.

You've obviously never had direct experience with the FDIC. Having worked with them through two banks going bust, the experience is lackluster compared to public opinion.

your two, anecdotal experiences are just that----ANECDOTAL. if you want to be taken seriously, post some objective research on this topic. You know, something that goes beyond YOUR TWO experiences.

also, nice job of ignoring your earlier, ridiculous claim that banks offering high-yield accounts were obviously in terrible financial health.

So you have a large amount of money with a bank and it fails - do you know what happens next? Do you think that your money magically appears in a new, usable account?

since we're playing the anecdote game, I'm going with "yes.". i've had accounts @ six banks that failed. the funds did, in fact, magically appear in new, usable accounts @ acquiring banks.

Most people will find that their money takes weeks, months, and sometimes years to be returned.

LOL! is this based on your TWO experiences? that doesn't jive with my SIX experiences. SIX beats TWO. So you lose.

Also, the FDIC has no set repayment time table - they pay "as soon as possible." My $30,000 that was in a savings took three years of monthly payments to be returned to me.

well, since it happened to YOU, it MUST be the NORM! YOU couldn't possibly be an ANOMALY!

Relying on the FDIC for coverage is fine, but expect to have any interest earned evaporate immediately and receive only a return of your original principal.

oh look, you're wrong, yet AGAIN.

FDIC insurance covers depositors’ accounts at each insured bank, dollar-for-dollar, including principal and any accrued interest through the date of the insured bank’s closing, up to the insurance limit.

http://www.fdic.gov/deposit/depos...asics.html

Expect it to take a long time and expect to earn nothing on your money while the FDIC holds it and disburses it to you slowly.

When can I expect to receive my money?

Federal law requires the FDIC to make payments of insured deposits "as soon as possible" upon the failure of an insured institution. While every bank failure is unique, there are standard policies and procedures that the FDIC follows in making deposit insurance payments.

It is the FDIC's goal to make deposit insurance payments within two business day of the failure of the insured institution.

http://www.fdic.gov/consumers/ban...yment.html

that's consistent with my SIX experiences. so I win, yet again.

LOL! it's one click, if you've got both checking/savings. each account is free. so why not have both?

Because I don't want to wait the 1, 2, or 3 days it takes to get my money when I need it.

just get yourself a nice, local CU, with free checking.

click a button.

write a check.

deposit it.

walla!

you've got a HUGE sum of cash IMMEDIATELY!

LOL! I thought you closed your ING accounts because those easy, one-click transfers were so annoying.

You must have mis-read. I did close an ING account (singular, not plural) because of the inconvenience. I closed the rest after Capital One.

I'm glad that those one-click transfers don't INCONVENIENCE you anymore.

Now you can just walk to a bus stop. wait 20 mins. get on the bus. arrive at the bank 15 mins later. stand in line for 10 mins. and get that HUGE sum of cash you need IMMEDIATELY!

........
The reality of the conversation is that this is a forum and we're here to give opinions and answer questions.

your opinions are beyond the scope of the thread. The OP asked for a savings-account recommendation. You went off on a tangent or three.

Neither of us are wrong, but we have different beliefs. Your efforts to make me sound wrong are pointless. Nothing that I've said is wrong.

BELIEFS? pretty much everything you've said is FACTUALLY wrong.

*an extra [insert arbitrary dollar figure] is NOTHING to EVERYBODY

*an online savings account ISN'T liquid (if you want you funds, apparently your only option is to close the account & wait many years for a check to arrive)

*if your bank fails, the FDIC typically takes years to return your funds, but only after stripping them of any & all interest

*a high-yield savings account is ALWAYS unsuitable if you've got [insert arbitrary dollar figure]

*you can't park a lot of funds in an online savings account & get SAME-DAY access to HUGE sums of cash.

I understand that you may want to STRONGLY voice your opinion, but you don't need to be demeaning. Relax. Accept that people are different and have an open discussion.

LOL! YOUR responses are OPINIONS. MY responses are FACTUAL.

If earning half of a percent is that important, then do it! If you have other life goals other than simple low-interest savings accounts, find another product that is popular in today's market.

LOL! like a bank account that pays ZERO interest?

Overall, don't just focus on this one issue. We need more information to actually provide a recommendation.

one thread, one issue. create another thread, where you can provide an "in-depth analysis" of the OP's financial condition. in that thread, you can tell "FDIC horror stories" & encourage him to put short-term capital in fee-laden annuities or risky stocks.

Asking for an account with high interest and no minimums is fine, but provide clarification as to why you want it.

he's under no obligation to tell us WHY he wants that type of account. why don't you RELAX & understand that people are DIFFERENT & may feel uncomfortable providing more information?

Some accounts better fit needs than others.

right. The OP asked for RECOMMENDATIONS. He’s a big boy who can figure out which one meets his needs.

(inB4 obscene quote response where everything I said is nitpicked and blown out of proportion to make someone feel better and more powerful).

RELAX! You’ll have a chance to respond with more of your opinions & beliefs. I’m off now to close my online savings account & to start pursuing BIG LIFE GOALS!