We’ve come a long way since the 17th century: shortly after arriving at Chesapeake Bay, John Smith nearly had his bushy head cut off by a Powhatan chief before being saved by the chief’s plucky little daughter. Now in the 21st Century, you can take part in Chesapeake Bank’s Clear Sky Savings account, and you don’t even have to worry about angry natives. The internet thanks you, Pocahontas!
As far as the Clear Sky Savings Account goes, their plan is relatively straight forward: with a balance of more than $1, you’re offered a great rate currently at 2.50% APY, with no monthly fees. You’ll also get access to their “Clear Sky e-Tools”. This includes free online banking with free electronic bill payments & emailed statements, and a Touch Tone-Teller in case you want to shoot them a call to handle your banking and verify transactions.
Perhaps the most intriguing of the Clear Sky eTools is the option to enroll in free mobile banking, allowing you to handle your banking from a web-enabled cell phone or device. Unfortunately, I’ve been doing most of my text messaging via Carrier Pigeon lately, and that’s just not a device/lifestyle choice that Clear Sky eTools supports at this time.
Is a Clear Sky Savings account right for you? I’d say it is if you don’t mind doing everything completely via your computer since paperless is the name of this game. They also require that you have a state-issued driver’s license or ID card, address information, and access to a valid email account. Curses: another three strikes against me!
So if you’re not a homeless pigeon-smuggler, and you’re looking for a nice electronic savings account with a competitive APY, then this may be the right one for you. Just tell them Pocahontas sent you. Or don’t, since that probably won’t make much sense to them… for now…
*Updated – 3/25/2009 – Chesapeake Bank is currently not accepting anymore applications for their online savings account. It seems that that the offer was pretty popular among savers.