Comments (scroll down to add your own):

1. I’m sure you’re right about the reason WAMU is upping it’s savings account rate. We’ve had checking / savings accounts with them for several years, and are quite happy with their website, integration with Quicken software, and availability / helpfulness of customer service reps the few times I’ve needed one. We have our HELOC and a plain old credit card with them, too. I would recommend them to anyone.

   Comment by cemccon — Jul 31st 2008 @ 8:47 am

2. Be careful, folks! I think there’s a very good chance WaMu will fail. They have been overly exposed to the subprime mess and now they need more capital to stay in business. How do they get more capital? Raise the interest rates to attract more funding. This bank is crippled and I would stay away if I were you.

   Comment by Alain Wong — Jul 31st 2008 @ 1:29 pm

3. Just missed BofA which was offering 4.11 for online CDs last week

   Comment by gm — Aug 1st 2008 @ 10:45 am

4. AmTrust Direct has an 18mo 4.35% CD right now. Be glad you missed the BoA CD. I didn’t.

   Comment by Margaret — Aug 1st 2008 @ 11:23 am

5. If you are a Costco member, don’t forget Capital One Direct which is offering 3.75% plus a cash bonus if you are an executive member. Only downside is that you need $10k balance for the top rate.

   Comment by ToughMoneyLove — Aug 1st 2008 @ 1:30 pm

6. I just opened an ING Direct account and I’m wondering – is it possible to negotiate a better interest rate with them if I call and say I’m thinking of switching to another bank? I’m guessing these rates are fixed (shows how much I know about personal finances!), but figured I’d ask anyway in case anyone had any ideas?

   Comment by Audrey — Aug 1st 2008 @ 9:41 pm

7. Yeh tempting but I don’t know……..

   Comment by Zombie Money — Aug 2nd 2008 @ 2:42 am

8. Our local brick and mortar branch of Wachovia has 4.25 APY on one year CD and 5% APY on 3 year CD. I just opened the latter. Was debating for a while if I should do it as the rates are bound to go up, but at the end I chose the higher rate.

   Yes, I know they are having problems, but as long as I stay within FDIC limit, I think I shall be fine. At least I hope so…

   Comment by kitty — Aug 2nd 2008 @ 2:05 pm

9. After spending more than 9 years as a community banker (in a former professional life !), I have great faith in the F.D.I.C.. It would be hard for me to believe the F.D.I.C. wouldn’t protect balances covered under their stated limits. While it may not be perfect, I believe we have the finest banking and regulatory system in the world.

   Comment by Todd A — Aug 4th 2008 @ 11:20 pm

10. Audrey, no you can’t negotiate a better rate. You just move your money.

    I moved my money around a couple of times, and now have three online accounts (hsbc, emigrant direct, and ing). Most of my cash account money is with ing now, even though hsbc is offering a special rate a half percent higher than ing currently. The special rates come and go which require opening more accounts to keep up with whomever is offering the best rate at the moment.

    ING would be even better if they added the option of listing a beneficiary.

    Comment by Another Dave — Aug 10th 2008 @ 9:33 pm

11. I just called ING and tried to negotiate and got a “No” on savings rate negotiation. Borrowing is another story, I hear. On savings, they take the approach that they maintain a competative rate over time, and don’t offer “teaser” rates. (Published statements, and what the sales rep relayed to me). So I guess I will be moving on for “greener” pastures myself. I did previously try to tweek my earnings through the ING mutual funds (big disappointment as they’re all the same), and then Sharebuilder (huge disappointment – don’t even bother with that!)

    Comment by pfxarch — Aug 18th 2008 @ 6:42 pm

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