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November 29, 2013

Sweet Deals on Banking Bonuses

Love a great deal? Then this year enjoy your Black Friday sales with your banking purchases as well! This is Capital One 360's 5th Annual Black Friday Sale where you can get a $75 bonus when you open a 360 Savings account and/or a $125 bonus when you open a 360 Checking account. Below are the details of these great Black Friday Bonus sales:

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February 26, 2013

Capital One 360 MONEY Teen Checking Account

While we're enjoying our springtime weather, our thoughts quickly turn to summertime and children's upcoming summertime jobs. Last year we informed you of ING DIRECT's MONEY Teen Checking Account and we wanted to let you know that ING DIRECT was acquired by Capital One and has transitioned their brand to Capital One 360. Although the name Capital One 360 has changed, there has been no change to the MONEY Teen Checking Account product. The MONEY Teen Checking Account continues to be an interest-earning checking account and debit card that parents and teens can manage together. The "bank of mom and dad" is officially closed. Below are the details of the MONEY Teen Checking Account from Capital One 360.

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May 23, 2012

ING Direct MONEY Teen Checking Account

In conjunction with summertime jobs, ING Direct has unveiled their latest MONEY Teen Checking Account. The MONEY Teen Checking Account is an interest-earning checking account and debit card that parents and teens manage together. The MONEY Account is designed to help teens save and spend their money in a responsible way which will assist them on the road to financial independence.

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October 31, 2011

EverBank Launches Checking Account Promotional Offer

EverBank has launched a promotional offer -- an enticing alternative to current checking accounts. Now through November 30, 2011 EverBank is offering a $60 Cash Back Reward for customers who switch to EverBank's Yield Pledge Checking Account! EverBank's Yield Pledge is that the yield on your Yield Pledge Checking Account will remain in the top 5% of competitive accounts in the nation.

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October 20, 2011

Ally Bank Announces Full Launch of eCheck Deposit

At a time when many people are looking at checking account alternatives, Ally Bank may be of interest to you. Ally Bank is an online bank built on the foundation of GMAC, one of America's largest financial services providers. Ally Bank takes a somewhat different approach to banking which they believe "took a wrong turn somewhere between fees and penalties". Ally Bank Checking has announced the full launch of their eCheck Deposit program which is a quick, safe and convenient way for customers to deposit checks to their Ally Bank accounts by scanning and transmitting a check image online.

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July 13, 2011

Ally Bank Introduces Individual Retirement Accounts (IRAs)

Ally Bank recently introduced Individual Retirement Accounts (IRAs) within their selection of banking products. Now you can invest your retirement savings and get stable, secure growth with an Ally Bank Traditional, Roth, or SEP Individual Retirement Account (IRA). Choose from the following Ally Bank products for you to invest your IRA: IRA Raise Your Rate CDs, IRA High Yield CDs, and IRA Online Savings Accounts. All product choices are FDIC insured up to the maximum allowed by law.

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May 17, 2011

ING DIRECT Kids Savings Account

ING Direct has announced the official launch of their new savings program - Kids Savings Account. Have the "money talk" with your children early and let them know that saving money can not only be fun, it's easy too. The Kids Savings Account is FDIC insured and currently pays a 1.00% variable Annual Percentage Yield with No Fees, and No Minimums.

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April 12, 2011

ING Direct Offers $50 Cash Bonus

ING Direct is offering a $50 Cash Bonus when you open an ING Electric OrangeSM Checking Account. The ING Electric OrangeSM Checking Account earns a great interest rate on all balances. With an ING checking account there are No Fees and No Minimums to open an account. You will have free access to over 35,000 ATMs, a Free MasterCard Debit Card, and Free Online Bill Pay.

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February 18, 2011

Ally Bank Announces CD Rate Increase

Ally Bank announced an increase in their High Yield Certificate of Deposit (CD) rates, effective February 18, 2011. CD terms include 3 months, 6 months, 9 months, 12 months, 18 months, 3 year, 4 year, and 5 year terms. If you fund your account within 10 days of opening your account you will receive their 10 Day Best Rate Guarantee which means that you will earn the highest rate they offer. At Ally Bank there is no minimum to open an account and no monthly fees. Ally Bank was named the Best Savings Account by MONEY Magazine, ©Time Inc. May 2010 and also named one of the best No fees, No strings checking accounts by Kiplinger's Personal Finance, December, 2010. To view Ally Bank's current rates, visit ManagingMoney.com Certificates of Deposit. Ally Bank's history began in 1919 when it was known as General Motors Acceptance Corporation (GMAC) and was a provider of financing to automotive customers. In 2010 the company was renamed Ally Financial Inc. Ally Financial Inc. is a FDIC-insured institution (NYSE:GJM).

July 26, 2010

Ally Bank Announces Rate Increase

Ally Bank announced a rate increase on their 12 month High Yield Certificate of Deposit effective 7/26/10. Ally Bank, originally part of the GMAC family of companies, is a subsidiary of Ally Financial Inc. Ally Financial Inc. is a FDIC-insured institution (NYSE:GJM). Click here to search and apply for online high-yielding, FDIC insured Certificates of Deposit, Savings & Money Market Accounts.

October 22, 2008

Avoiding High Bank Fees

Although having a checking is often very useful, at times the associated fees can really add up. Even if you never overdraw your account, there are still many other fees related to having a checking account. Just because most banks and credit unions charge various fees for different reasons is no reason why you should have to pay them. Sure, some fees are unavoidable, but fortunately, most fees are avoidable. So if you're tired of paying astronomical bank fees, then the following tips may greatly assist you in retaining more money in your bank account, therefore paying less to your bank.

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September 18, 2008

Some Perspective on the Current Financial Crisis

The current housing and banking crises are both unique and severe. Billions of dollars of wealth have disappeared over the last year, in some cases in just a matter of days. Companies that have been household names have gone bankrupt with others on the verge of failing as this article is being written. Make no mistake; these are scary times with both professionals and the public wondering if their money is safe. Is this the end of the U.S. financial system?

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August 29, 2008

FDIC's Quarterly Banking Report - More Trouble Ahead

The FDIC on Tuesday issued a report showing that the number of financial institutions on its so-called problem list rose to 117 from 90 which were reported at the end of the first quarter. That's an increase of 30% in three months, and things look to get worse before they get better. The number of banks on the list is the most visible thing to consumers, but the amount of assets held by those problem institutions is more troubling still. The total assets of institutions on the problem list tripled. That means some pretty big players are in the additions. While the FDIC doesn't give out the names of troubled banks on its list for fear of hurting them even more, we do know that Indymac Bank which failed in July was on the list. That bank alone had assets of $32 billion, so by deduction that's almost certainly the largest single bank on the list.

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July 31, 2008

WaMu Online Savings Goes Up to 3.75% APY

Washington Mutual, sponsor of the WaMu Online Savings Account, raised their interest rate today to 3.75% APY. This new rate makes WaMu the highest of the 15 different online accounts that ManagingMoney.com tracks.

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July 23, 2008

Bank of America's "Keep the Change" Program

Everyone needs a savings account in order to put away money to use for emergencies, special occasions, and for the future. Unfortunately, many people don't have bank accounts because they feel they either don't need one or can't afford to save any extra money because of their current income. Not only do you need a savings account, but no matter how much--or how little you make, you have the ability to save more than you may think. Even a mere $5 or $10 placed into a savings account each time you receive a paycheck can add up quicker than you ever thought possible. Most likely you won't even notice $10 missing from your paycheck, as it's easy to spend this amount on fast food or other miscellaneous items, which makes it a lot smarter to save the money rather than spend it on fast foods.

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July 2, 2008

Checking Accounts: How to Avoid Overdraft Fees

It doesn't matter if you currently bank with a credit union or a bank, chances are your financial institution charges fees anytime you overdraw your account. These fees, which currently average around $25 - $40 per transaction, are charged to your account each time you have a check or debit card transaction post to your account yet you don't have enough funds available to cover it. As a courtesy, many financial institutions will often pay the transactions, depending on the circumstances and whether or not you overdraw your account regularly. There are ways to avoid paying these fees, especially if they occur often, to help save you from paying money unnecessarily to your bank.

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June 19, 2008

WTDirect Increases Savings Rate to 3.26%

As of June 19th WTDirect's Savings Account rate is officially increasing to 3.26% APY. This marks their first rate increase in 9 months. Recently we have noticed a number of the larger online banks beginning to raise rates as they fight for investor deposits. Although the economy is slowing it is not dead yet and the online savings accounts represent one of the best ways to earn a competitive yield with minimal risk. Wilmington Trust Corporation (NYSE: WL) is a financial services holding company that provides a variety of banking and financial services. It provides Wealth Advisory Services for high net worth clients in 22 countries, and Corporate Client Services for institutional clients in 81 countries. Its wholly owned bank subsidiary, Wilmington Trust Company, which was founded in 1903, is one of the largest personal trust providers in the United States and the leading retail and commercial bank in Delaware.

July 23, 2007

Tips for Opening a Checking Account After Being Reported to Chexsystems

Just about everyone can appreciate the convenience of having a checking account. Checking accounts allow you to easily pay your bills, whether on the phone, on the web, by mail or in person. You can also set up automatic withdrawals with a checking account, to avoid late payment penalties and eliminate the need to remember when certain bills are due each month. The list of the advantages goes on and on, depending on how you choose to use your account and what goals you have in mind.

What most people fail to realize, though, is that having a bank account is a privilege, and if for some reason you don’t responsibly handle your account, that privilege will be revoked.

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June 9, 2007

Now You Can Send and Receive Money with Your Cell Phone

Imagine this scenario: Your daughter is out-of-state at college and calls you and says, "Mom, I need extra money for books, now!" What do you do? Well, if you had Obopay, a new service we recently came across, you would immediately send her the funds she needed with your cell phone.

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May 23, 2007

Bank of America Offering NASCAR Checking Accounts

Hoping to build on its newfound expertise in credit cards and on NASCAR fans' loyalty, Bank of America Corp. has begun offering a NASCAR checking account to try to drive more retail business to its automated teller machines and branches. This follows on the heels of the NASCAR RacePointsSM Visa® Credit Card issued by FIA Cards Services, N.A. which we discussed in a previous blog entry. It appears that "sports affinity" marketing and the financial services industry have discovered one another.

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September 2, 2006

Washington Mutual Offers WaMu Free Checking TM Account

Washington Mutual, also known as WaMu, has joined in the competition for your online savings account dollars with the introduction of their WaMu Free Checking. Starting off with a 5% Introductory APY for investors that open both a Savings Account and a Checking Account, the account also offers a number of bells and whistles potential investors should find attractive.

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July 28, 2006

Emigrant Bank Raises Interest Rate to 5.15% APY

Emigrant Bank, sponsor of the popular EmigrantDirect American Dream Savings Account, continues to be a leader in Online Banking when they raised their interest rate this morning to 5.15% APY. This increase has admittedly caught us by surprise as Ben Bernanke, Chairman of the Federal Reserve, signaled at their last meeting that interest rate increases were likely on hold for a while. The Fed said there were signs that the economy was slowing and that although controlling inflation is important, the Fed wanted to balance that against risking pushing the economy into a recession with an overall restrictive fiscal policy. Emigrant apparently wasn't listening and has instead decided that attracting depositors with attractive interest rates is more important. We suggest investors take advantage of these high rates while they can. Guaranteed, they will not last forever.

July 4, 2006

Emigrant Bank Goes to 5.00% APY

Emigrant Bank, sponsor of the popular EmigrantDirect American Dream Savings Account, increased their interest rate to 5.00% APY this morning. Happy July 4th! Three of the nations top Banks are now at 5% or greater on their savings accounts. Emigrant today followed the earlier lead of Citibank and Everbank which went to the 5% range immediately after Ben Bernanke, Chairman of the Federal Reserve, last raised rates. At the risk of being wrong, we think this is it for a while. The Fed implied that any rate changes going forward will be based on the health of the economy, not inflation concerns. As the economy is showing some weakness in Real Estate and the consumer is dealing with high energy prices, we feel the Fed will hold off on any more rate increases for a while. If we end up being wrong, we would appreciate someone sending us a new crystal ball.

June 26, 2006

CitiBank e-Savings Account Goes to 5.00% APY

Just when we thought it couldn't get any better Citibank today raised the interest rate on their e-Savings Account to 5.00%. Last week we reported that Emigrant went to 4.80%, but now Citibank has retaken the throne. Regional Bank stocks took a beating last week as many reported a significant outflow of deposits. Since Citibank launched their e-Savings account a couple of months ago they have had a net inflow in excess of $3 billion in deposits. That money had to come from somewhere and we suspect the smaller banks is where it came from. Any investor can now open up numerous online accounts and electronically move their money to those paying the highest rates. Once again the Internet is leveling the playing field to the benefit of the consumer. You can search and sort the rates from the major Online Banks by visiting the ManagingMoney.com Banking Center. Stay tuned as this new banking battle heats up.

June 22, 2006

Emigrant Increases Savings Rate to 4.80% APY

Emigrant Bank, sponsor of the popular EmigrantDirect American Dream Savings Account, increased their interest rate to 4.80% APY this morning. This makes their rate one of the most competitive in the country. Rates have consistently been rising for months now, but even we are a bit surprised by this increase. Emigrant seems to be wanting to replace Ben Bernanke, the new Chairman of the Federal Reserve, by raising rates even before the Feds next meeting. This implies that competition is stiff among the online banks. We still expect the Fed to stop raising rates soon as the fine line between protecting against inflation and shifting the economy into a recession is probably being approached. Investors should take advantage of these high, insured rates while they can.

May 31, 2006

ING Increases Savings Rate to 4.25% APY

INGDirect, the sponsor of the popular Orange Savings Account, raised their interest rate this morning to 4.25% APY. This follows Emigrant which raised just last week. One of the reasons given yesterday for the Stock Market's large decline was that investors were concerned that the Federal Reserve would continue to raise interest rates based on a strong economy. We are starting to become a little skeptical that rates are going to continue to rise, particularly with oil prices continuing to go up and obvious softness in the Real Estate market. Therefore, this is a good time for Online Bank investors to get a competitive yield with no risk to principal. See our Banking Center for a listing of all our Online Savings Account and CD providers.

May 26, 2006

Emigrant Increases Interest Rate to 4.65%

Emigrant Bank, sponsor of the popular EmigrantDirect American Dream Savings AccountTM raised their interest rate today to 4.65%.

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May 6, 2006

Countrywide Bank Raises Interest Rate to 4.15% APY

Countrywide Bank has raised the interest rate on their Online Banking product to 4.15% APY. This follows INGDirect which also went to 4.15% APY a week ago. In addition to Online Savings, Countrywide also offers competitive Certificate of Deposit rates. If you are not taking advantage of the high interest rates available from the online banks you are really missing out. Most of the online rates are double what conventional banks are offering. In addition, the accounts "link" to your existing bank accounts making it easy to transfer funds between the two and they are also FDIC insured. You can see our complete selection in the ManagingMoney.com Banking Center.

May 1, 2006

ING Raises Interest Rate to 4.15%

ING Direct, the sponsor of the popular Orange Savings Account raised their interest rate yesterday to 4.15% APY. This is good news for investors looking for safety and a competitive yield on their savings. All year interest rates have been inching up as the economy continues to perform well. ING is consistently one of the leaders with their rates. Online accounts like the Orange Savings are meant to complement an investors existing bank account rather than replace it. Investors "attach" their Orange Savings Account to one or more other traditional accounts and can then "sweep" extra funds from their low interest accounts into the higher-yielding ING account. Be sure to check out our Banking Center where you can compare rates on over 16 of the more popular National online bank accounts.

April 4, 2006

EverBank FreeNet Checking Goes to 5.51% APY

One of the best "teaser rates" we are seeing in the Internet Banking space is the EverBank FreeNet Checking Account.They are currently offering 5.51% APY for the first three months for new customers. The account also comes with free online banking, free check writing, and a free Visa® CheckCard. At the end of the three month period EverBank guarantees you'll continue to earn a yield that ranks in the top 5% of competitive accounts as tracked in the Bank Rate Monitor National Index™ of leading banks and thrifts. With a minimum of only $1,500 to open an account, FDIC insurance, no monthly fees , and a 100% satisfaction guarantee, this is probably worth a look.

March 15, 2006

Emigrant Increases APY to 4.50%

Emigrant Bank, sponsor of the popular EmigrantDirect American Dream Savings AccountTM raised their interest rate today to 4.50%.

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February 17, 2006

Countrywide Bank Raises Money Market Rates

Countrywide Bank raised their Money Market Interest Rate today to 4.25% APY for balances of $50,000 or more and to 4.01% APY for smaller balances.

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January 30, 2006

CitiBank Online Offers Free iPod Shuffle

CitiBank Online is offering a Free iPod Shuffle if a new EZ Checking Account is opened and funded with at least $1,500 by 3/31/06.

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January 27, 2006

Emigrant Goes Up to 4.25%

Emigrant Bank, sponsor of the popular EmigrantDirect Savings Account raised their interest rate today to 4.25%.

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January 19, 2006

INGDirect Raises Interest Rate to 4.75%

INGDirect, the sponsors of the popular Orange Savings Account raised their interest rate on new deposits to 4.75% today. The battle for online Savings Account deposits continues to heat up, with the two main contestants being...

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December 15, 2004

The Check 21 Act and Your Canceled Checks

On October 28, 2004, the Check Clearing for the 21st Century Act, called the Check 21 Act, went into effect. Basically, this law allows banks to process electronic images of checks instead of handling the actual paper checks. That change will have a significant impact on your checking account:

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