Are you using the right company for online savings? Maybe not.
I noticed the PayPal fund doing very nicely, earning %4.48. Other than ING’s sale through 4/15, PayPal got a lead on the other ones for today. I wonder if it’ll last. You’ve got to be careful of using it to spend though. Also, if you use it I think you get some kind of cash back reward. I see that’s been the average the previous 7 days since 2/22. I guess if ya noticed it dipping, you could switch to ING or Emigrant, etc.
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February 28th, 2006 at 6:43 am
My personal favorite is GMAC Bank. I have Emigrant, ING and HSBC. But GMAC is the quickest and easiest to use. Their current rate is 4.6% APY.
February 28th, 2006 at 9:02 am
I’d be careful about GMAC. GMAC bonds trade halfway between the GM bonds and the treasury curve. The risk is that if GM files for bankruptcy, can the PBGC get at assets from GMAC. Yeah, you may have FDIC/FSLIC insurance, but who wants to deal with the headaches of a GMAC failure.