Savings accounts

[Grand2me]

I am really in a position where I need to save money. I am trying to decide between a regular savings account, a credit union savings account, and maybe an investment account of some sort(for folks just starting out). Anybody have any suggestions? I'll take all the help I can get...

 

[canwegosoon]

I just opened an "online"account, and transfer over money on pay days...really easy once set up. The best thing is no trips to the bank(you do it when you have a minute), and a great intrest rate. I think the only thing to be careful of is the holding of funds and the # of withdrawls in a month...if you can live with those, I think you will be very happy. PM me if you have any questions or want more information.

 

[mrsbornkuntry]

We aren't allowed to talk about ING accounts on here anymore (see sticky thread), but when deciding which account to go with I would look at things like which one has the highest interest rates, how easy is it to get the money? If you really want to save and don't want easy, same day access to your money then an online bank offering high interest may be best. If you want an ATM card then you should look at your other options. Also, how do you want to deposit your money? If you're going to receive paper checks then you may want to go with a local bank where you can hand deposit them. It really depends what kind of features you want, what's most important to you.

 

[Grand2me]

OH MY!! I had no idea that we weren't allowed to speak the ING name. That is my disclaimer in case the emails start rolling in: I didn't know. I am going to read the thread right now.

BTW, thanks for the replies so far!

 

[shrmn8r]

I am really in a position where I need to save money. I am trying to decide between a regular savings account, a credit union savings account, and maybe an investment account of some sort(for folks just starting out). Anybody have any suggestions? I'll take all the help I can get...

If you live in a State that has a Chase/Bankone Branch, that would be ideal. With Chase/Bankone, one can open a free checking account and have free automatic transfers into a savings account. Also, they are the official banks of both Disney (Bankone ATMs) and Universal (Case ATMs). Which means that you would able to make "FREE" ATM withdrawals at both parks. So, if you have either of these in your market, this would be my choice.

 

[gary4jenn]

Besides the interest rates, be sure to look at how easy or difficult it is to "get at" your money. With my Wells Fargo acct. I can tranfer funds online at any time.

But with my INGDirect acct., it takes up to 3 days to transfer so I can't just "dip" into it so easily. So for me it's a good thing. I have an automatic withdrawl of $30 each week ($10 on mondays -my payday, and $20 on Fridays-hubby's payday).

I really don't miss the $10 and $20. BY the time we go we will have over $1300 saved. Vey painless way to save. They also have CD's thru ING.

For more info you can read the sticky at the top of the budget boards regarding the specifics.