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  1. I have always put it in online institutions. I do not have a brick and mortar bank for “saving.” I use Sallie Mae and HSBC. I like HSBC because when I travel, I can use their ATM abroad and not have any fees. Plus, they give me 6 withdrawal a month without any fees at any ATM. Sallie Mae use to have scan feature for deposit, but the took that away and gone mobile, which I do not like.

    You should be careful of the “introductory” rate vs. the standard rate. Everbank with whom I use to bank did that. But you can always just move it.

    • Great point Allison – those rates can come up and bite you.

  2. Thanks Aaron for the good information. If your readers want to take it to the next level, Mangomoney offers 6% and Paypay Prepaid offers 5%. They limit this high rate to the first 5000.00 on deposit but it’s still a great deal. If your lucky enough to have more than 5000 to invest you can open one account, and your wife can open another, for a total of 10,000. The only “catch” other than the 5000 limit is Mango requires a small monthly direct deposit (otherwise you earn ‘just’ 2%) and paypal Prepaid charges a small monthly fee of 3 or 4 bucks. I’ve used them both for about 6 months and am very pleased!

    • Those are great rates Keith! Thanks for the info.

    • Thanks for the great info! I am considering these options. I don’t see that mango requires the direct deposit? Looks like they are offering a bonus $20 for signing up for direct deposit and using it twice Within 90 days and at least $50.

      I use discover savings. Discover has really good customer service that keeps me as a customer rather than moving for .1% difference.

  3. I use Capital One for savings. I never knew about the other online banks but I’ll be looking more into the other one. Especially since the APY percentages are higher.

    • Thanks Kimberly. Have heard good things about Capital One 360 account too.

  4. I keep my emergency fund in my Provident Credit Union rewards checking account paying 1.36%. No minimum, 10 card purchases a month, one auto deposit, and it’s good up to $25,000. I love it!

    Beyond that, I may have to check out Mango Money for the smaller stuff.

  5. I’ve always used Synchrony Bank & Barclays and I’ve never been disappointed. Returns are high. I’ve read great reviews about Ally Bank too.

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