Stupid account requires $10,000 for $25 bonus, and I mock them

Leave yours...

Same here, I have been a loyal ING customer since 2004 and had no worries.

People jump in and out of savings account just like they do the stock market.

I keep it simple, ING and index funds are my main choices when it comes to saving and investing long term

something tells me the next time I see something stupid like this on this website il have to take you off of my google page.

I strongly protest the fact that you suport a company who you are advertising under the name "I Will Teach You To Be Rich"

at first I was hooked when I saw alternative investment advice, things that are not in the mainstream news.

I thought this would be a safehaven where people would share idea's ask for idea's and give honost opinions.

Clean up your act or do something... Im just the type that speaks up... most peoiple just stay quite.

That's not a bad rate. Cap One's rates are some of the best IMO (as long as you meet the minimum). I use FNBO, which has good rates too.

I agree, this looks like a scam to sucker in people with less than 10k who really want the $25, but if you meet the min, it's not that bad a deal with a good bank.

Try to go to BAC or Chase and get that rate with $10k.

I was one of those people who signed up for a WaMu savings plan. The problem was that it locked up my money for awhile, and the good rates were only for a year, but there was a maximum I could put in per month. Funny thing is, I found an online savings account that would pay head over heals more than I would have gotten with the "Savings for Success" account-even after my early exit penalties.

Don't jump into a plan without running the numbers!

Ramit, you really need to spell out your audience on this one, i.e. say this is only applicable to people who have under $10k in their savings. More realistically, a 6 month emergency fund for a family is somewhere in the $40k range (at least that's the size of our fund). I'm one of those rate-chasers, so I've consistently been earning anywhere between 0.65-0.85% higher than my operating money market account at GMAC, which I use to keep about 1 months of expenses in. That's an extra $300/year in interest, which is definitely worth changing banks every 4-6 months for me. Note my GMAC account is constant -- I only move my emergency fund around when there's a new rate worth switching to.

@Igor: I too am wondering what you do not like? You said you liked this site because of its "alternative" investment ideas. Well, many would say that this CapOne account is a great idea, when in fact you can get comparable rates, or more, with a bank with no minimums and no strings attached.

The point still remains, why go to BAC or Chase when there are banks dedicated to providing me with a great interest rate?

PS: I can go to WaMu and get that rate... and I do. Without 10 grand in the bank. ;-)

I think the point of the previous poster is:

since the ING ad is displayed on this blog, then Ramit gets money if someone clicks on the ad. In that case, he is not giving impartial advice, when he knocks another bank in favor of ING. Especially when if he had taken a look, he would've seen Cap One offers a different bank account with no minimum required at the same rate as ING.

Same conflict of interest as Wall Street promoting stocks that they benefit from. Makes the reader question the validity of the advice.

Ramit, I think Mike is saying he earns $300 MORE by rate-jumping than by sticking with one account, not that he only earns that total each year.

Ah forget it, thinking that you misunderstood his post made me misunderstand yours. Disregard my previous comment.

I notice that Washington Mutual is never mentioned in your banking comparisons. They typically have slightly better interest rates and the only catch I can see with WaMu is that you have to open checking and savings accounts at the same time to avoid fees. Is there something I'm missing?