Bank of America’s – Add It Up – Savings Program

Bank of America’s Add It Up savings program is another great way to start saving cash on everyday purchases. 
Add It Up allows you to earn cash back, sometimes up to 20% on purchases made with partnered retailers. The percentage received is on top of any retailers discounts.
To get started, all you need to have is an existing checking, savings or credit card account.  You can open an account online or in the branch. You can enroll online as well.
Like Bank of America’s Keep the Change program, the program works because it triggers automatic saving deposits into the account of your choice. Saving money is challenging at times. Bank of America provides a great solution and an option to continually save money.
One of the best features is that you have an option to have the cash back deposited into a savings or checking account. Hopefully, you make the best use of the program and have the cash back deposited into your Bank of America savings account.
A combination of this product, Keep the Change and a high yield online savings account can go a long way in diversifying and growing your hard earned cash.
Right now, it’s best to look at every avenue that’s available to save additional dollars. Even in the form of cash back on purchases. 
See Amanda cover the basics on Bank Of America’s Add It Up Savings program.

Direct Huntington – Savings Account – High Yield

An online savings account from DirectHuntington isn’t one of the best offers out there.  The Anywhere Savings Account offered by DirectHuntington is unfortunately one of those tiered rate accounts which require a minimum balance threshold in order to earn a higher yield on your money. We’ve seen some pretty bad tiers out there, with pretty much all our nothing in terms of a yield. Direct Huntington actually has multiple tiers so you are at least receiving a average rate across all tiers.

There are some aspects to the account that are beneficial to you however they’re nothing that all of the other online savings accounts have to offer. 

The Anywhere Savings Account offers:

An better than average interest rate (low compared to other online savings accounts)
No monthly maintenance fees
Online banking
There are several tiers to this account which are listed below. We’ll list the current rates but please keep in mind these are subject to change.
$0 – $2,499.99      0.50% APY
$2,500 – $9,999.99      1.00% APY
$10,000 – $19,999.99      1.20% APY
$20,000-$49,999.99      1.40% APY
$50,000-$99,999.99        1.60% APY
$100,000-$999,999.99   1.80% APY
$1,000,000.00 and Up    0.50% APY
More than the average amount of tiers but better than the rest. Ideally, if you have this amount of cash sitting in an account, you should look to opening a account with ING, Schwab, ETrade or WTDirect. All which offer a much more stable rate without the tiers.
*Account not available to California Residents/Accounts need to be approved by DirectHuntington prior to opening.

Provident Direct – High Yield Online Savings Account

A Provident Direct high yield savings account online offers a high rates. A $100 deposit will earn a 2.10% interest rate! This rate is higher because it’s an online savings account. 
Provident Direct is the online arm of Provident Bank and has just been acquired by MT&T bank.

The money saved in this type of account is FDIC-insured which means the money is well-protected and invested with a well-trusted bank.

The money in your high yield online savings account can be easily accessed online, through an ATM or at any branch.

This online savings account offers a solid rate along with no minimums and no monthly fees. Deposits can only be made by direct deposit or online transfers. Acceptable, because of the high yield.

If you want to start immediately earning a higher interest with your savings account, open a Provident high yield online account here.

ShoreBank Savings Account

ShoreBank’s High-Yield Savings Account has many pluses such as a high annual percentage yield. This great rate is possible because these accounts are opened and managed completely online.
It has a few advantages such as:

Manage savings online by making electronic deposits and withdrawals

Online access to bank statements

No monthly fees
$1 minimum deposit
Being able to make email inquiries – (in order for ShoreBank to provide such a solid rate, they are pushing customer service to online support)
Ally Bank

Deposits at ShoreBank are FDIC-insured to the insurance limit which means individual and joint accounts are covered separately so those who have a ShoreBank joint account and a single account will receive the maximum FDIC coverage which is $500,000.

It’s also good to note that the online savings account application must be approved.

For more information about this online savings account, visit ShoreBank.

First Trade Union – High and Mighty Savings Account

Current APY: 3.04% – 3/31/2009
First Trade Union Bank is offering a high rate savings account. The rate is one of the highest online but comes with some caveats. The bank is solid and has a good reputation for customer service. Their online experience isn’t top tier but the high rate more than makes up for it.

Perhaps the most unattractive feature of the Mighty Savings Account from Union Bank is that the rate is tiered. Union Bank requires that you keep a minimum balance of $2,500 to keep the high rate. Fall below that minimum balance and you’ll receive a measly .50% APY.

Fall below $250 and monthly fees apply. In addition, first deposits must be made by check (what a hassle). Online transfers are limited but capabilities look to be there in mid-2009. The bank is FDIC insured and has options for business, personal loans and high yields.

For those that don’t mind the initial hassle of mailing in a check and a cumbersome online process but love APY’s, the High and Mighty Savings Account is right for you.

Along with the great APY, they offer such conveniences such as free online banking (limited capability), an ATM card and synergy with other First Trade Banking Services.

-Minimum balance of $250 to avoid $2.50 monthly fee
-Minimum balance of $2,500 to get high interest rate
-FDIC Insured
-Limited Transfer Capability
-First Deposit Must be made by check

You can open the savings account

Keep the Change – Bank of America

Bank of America is offering a creative and fun way to save start saving money. It’s called Keep the Change. The way it works is that Bank of America rounds up every purchase made with your Bank of America Check Card to the nearest dollar and then transfers the difference to your savings account from the checking account. It is a very simple and rewarding program.
Bank of America will also match the savings made from this program 100% for the first three months which means every transfer made through the program will put the same amount of money in your account and when the three months are over Bank of America will match savings at 5% a year, every year which means even more money in your savings account every year.
This program will give you up to an extra $250 per year and who can’t use a little extra money these days? What could be simpler?
And the best thing is that you will be saving money with purchases you make everyday such as coffee, gas and groceries. This will especially pay off for those that rely on their check card for everyday purchases and even change the spending habits of others.
The only negative aspect of Keep The Change is that the program only works with your Bank of America Savings Account and that account is very accessible. The best savings plans are those that involve savings account that aren’t easily reachable. Saving money is easier when it is out of sight. In this case, it’s right next to your checking account.
All that is needed to take part and to start saving money with this rewarding Keep The Change program is a Bank of America checking account, check card and savings account.
Get started.

CNBBankDirect Savings Account

Open a high yield savings account right now and receive a great rate with CNB Bank Direct. CNB Bank Direct delivers a solid savings account offer with a rate that pays well.

Who is CNB Bank Direct and why should you trust them with your hard earned cash? CNB Bank Direct is a division of Citizens National Bank. They are looking to expand and grow via online offerings such as their high yield savings account.
Ally Bank
CNB Bank Direct is FDIC insured and has established themselves as a solid bank in the City of Ohio. Now they’re branching out online and bringing a great online savings account to you.
Like other online savings accounts, there aren’t many frills associated with the account. What is does offer is a solid rate that is one of the highest available online now.
Benefits listed on the CNB BankDirect Savings Account are:
FDIC Insured
No Monthly Service Fees
No Minimums
There are others that are listed on the site but they really aren’t benefits as they come standard with most online savings accounts.
24/7 Online Access
6 Withdrawal Limit (Federal Limit)
As with other online savings accounts, you’ll need to fund this account from an existing online checking or savings account. So you’ll have to verify deposits and such.

This savings account is fairly new but will catch on quick if it continues to lead with a high rate. Again, no monthly minimums and that’s always great.

Great place for your cash, with no long term commitments.

Online Savings Accounts Rise in Interest

CNBC’s Carmen Wong Ulrich discusses the dash to online savings accounts. As the savings rate grows and we begin to save more, we look to online savings accounts as a safe haven for cash. 

Online savings accounts in the past years have paid higher rates than savings accounts at traditional banks. Now that investors and savers for that matter have been burned by significant losses in their 401ks, they are now looking for safer places to put money as well as the possibility of earning some interest.
Some think that it might be too good to be true and even question the banks FDIC insurance. The fact that investors and savers are now starting to shift cash into online savings accounts shows that they aren’t confident in other types of investments right now.
Who can blame them? Everything they’ve ever heard has blown up in their face.