I wrote about my Checking accounts awhile back with the Pros and Cons of Everbank and Presidential. As promise, here is my two favorite savings accounts for everyday usage: WaMu and Presidential
WaMu is my Brick and Mortar’s bank account. It is the only local one for me whereas I can get 5% APY. You must join online in order to get the rate, and it comes with free checking. I get the convenience of depositing my money in a high interest account with local ATM access.
- Totally free with only $1 to open.
- Free outgoing wire transfers.
- Local, 5% interest, and free basic checks for life.
- Free bill pay and 3 cents back on each debit purchases.
- It costs money for incoming wire transfers.
But now they got free online fund transfers by linking to your external accounts. Also, if you didn’t know this. You always use their free billpay to send money to anyone, including yourself. For example, I set up to pay myself by using billpay to send money to my Presidential account. Simply set up an account with Presidential’s address and your account number. voila!
For Presidential, it is my savings account whereas I can earn 5.25% up to 35K. It is convenience for me since I use them for my 4.5% checking with them. Money can be transferred easily between their checking and savings.
- 5.25% Savings but with only up to 35K.
- Super convenience if you having checking with them.
- 5K minimum to open, and 5K minimum balance in order to be no-fees.
If you prefer to have a different higher interest account with no minimum, no fees type of savings account, I recommend Igobanking.com because you get 5.30 % APY savings account with no fees, no minimum.