Save Money with Venture Bank Direct

Current Yield: 3.60% APY as of 12/4/2008

Venture Bank Direct offers another great online savings account. The yield has been very competitive for some time now. The savings account is solid from top to bottom.
When I first received this savings account offer from one of our readers, my first question was who is Venture Bank Direct? 

Venture Bank Direct has become a solid bank that’s backed by the FDIC since the year 1979. The bank has been through a few name changes. What hasn’t changed is their steady growth and focus on the customer.
As with all savings accounts you find online, the rate is variable and currently sits at 3.60% APY. Not bad when you consider it’s only a $1 minimum deposit. It also comes with the new limit of FDIC Insurance of 250k. Though it’s very likely you’re like me and don’t have 250k sitting around. If you do, why are you reading this?
The account does provide a great way of diversifying your money. I’ve a big proponent of opening multiple savings accounts. One of the troubles that savers have when getting started is having easy access to the savings account. Savers that have easy access to their savings are more likely to access it for everyday expenses. This is what exactly prevented me from sticking to my savings goals.
This account is a perfect fit, if you’re looking to create an account that you don’t have easy access to. My suggestion would be to open the account. Start an automatic savings plan and goal and start saving. You’ll build up your savings much more quicker that way.
The Wise Choice Savings Account that Venture Bank Direct provides is solid. The online banking is more advanced that what you find in traditional bank offerings. If you’re those that manage finances like you’re a Fortune 500 company, you’ll be happy to know that you can download your transactions to MS Money, Quicken and Quickbooks. Pretty neat, eh?
The savings account has a pretty easy sign up process online. As always, it will take you a little while to fund the account and you might have to wait a little bit for funds to clear but that is the price you pay for safety. 

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