Best and worst online banks on clarkhoward.com

Looking for the best online bank? Consumer Reports has a list of the top places to stash your cash in cyberspace.

INGDirect.com was named as the best bank with a score of 80, while HSBCDirect.com came in with a score of 78.

The online banks were ranked on customer service, fees and other criteria.

Of course, keep in mind that you can't make everybody happy, even with a clear winner like ING. Clark recently spoke to a man who had a bad experience going through them for a mortgage. Boy, was he sore at the consumer champ for recommending ING!

On the bottom of the tally, 3 of the giant monster mega-banks got atrocious scores for their online banking arms. Wells Fargo came in dead last with a score of 50, followed by Chase (58) and Bank of America (61).

Just to illustrate the disparity between the best and worst, ING pays 1.5% APY for savings vs. Chase (.01%), Wells Fargo (.05%) and Bank of America (.2%). Those are just embarrassing, silly numbers. (Editor's note: Rates accurate as of June 23, 2009.)

Don't read this and then turn around to do business with these giant bank clowns…they're ripping you off with high fees and low interest rates.

What others are saying

ING
Im not sure i completely understand it but with ING you have two banks and channel money between ING and another bank. Sounds complicated and confusing
By Jason @ 02/19/10 12:09:22 AMreport abuse
2 registers
They are actually trying to do you a favor -- 1 is actual cks cleared, the other includes cks in process, but not yet completely cleared (in case you'd forgotten that you used your debit card for lunch or whatever...)
By M&W W @ 02/10/10 02:23:56 PMreport abuse
HSBC savings account breach
My savings acct with HSBC was in my name only. I decided to add my husband to the acct. I got confirmation that his name had been added. When I went online to check for his name I found his name and also an unknown foreign name of a beneficiary on my acct.
By Lilbitty @ 01/28/10 06:53:12 PMreport abuse
Schwab's high yield checking
Anyone have any input about this one, ING and HSBC don't seem to fit me. My call to HSBC to inquire about fees left me talking to someone I could hardly understand. The little I could find about ING's overdraft policy didn't sound to appealing, and it looks like they keep 2 registers, "Account Balance" and "Available Balance". It's the major reason I want to leave BofA. While I hope to avoid overdrafts, I'd rather know than not.
By Seeking @ 12/16/09 07:49:29 PMreport abuse
Best Online bank
Just did a search outside of Clark Howard and found some great rates with Discover Bank. Highest one year 1.9 vs ING at 1.3. Any concerns or issues with Discover Bank that Mr. Howard would like to share?
By Money Momma @ 11/07/09 01:35:58 PMreport abuse
ShoreBankDirect
I was just notified today that my online APR dropped from 2.15 to 1.95, but that still seems to be amoung the highest out there.
By M @ 11/03/09 08:32:51 PMreport abuse
Dollar Savings Direct
DollarSavingsDirect.com usually pays the same as Ally Bank, but requires a $1,000 minimum deposit for that rate. EmigrantDirect.com, which is the same bank, usually pays about .25% less, but has no minimum deposit to earn the stated rate. I have had accounts at both of them and liked them. Money transfers requested by 5:00pm are in your linked account first thing the next morning (business days).
By Bob @ 08/23/09 09:13:00 PMreport abuse
Ally Bank
I've had great experience with Ally Bank. Not only can you get one of the highest savings rates out there (currently 1.70%), but you can take out a no-penalty 9 month CD that usually pays .15% more (currently 1.85%). Transfers are a cinch and money gets into your linked account the next business day.
By Bob @ 08/23/09 09:09:18 PMreport abuse
ING used to be good and only for those who do not make honest mistakes.
ING is awful. I used my Electronic Orange account when I moved and used it for my initial expenses. At the time I was out of work and newly laid-off, but was going to repay my checking account ASAP. I paid back over $1100 and was really proud of myself (worked odd jobs and went without here and there). Then, when I went to use my ATM it did not work (even though I had a few thousand in there). I called customer service and they told me that my checking account was closed and that my account was frozen. I couldn't believe it. After all, I had actually paid back the line of credit and instead of acknowledging my efforts, they took their money and deemed me an unfit customer. If you want to put your money in a 'young' bank like ING (they've only been in the US around 10 years), be my guest, but according to the rep I spoke to, they are closing thousands of accounts as they 'see fit'. With the economy in the shape it is in, who knows how much more they will close and then finally close operations in the US altogether. That would be a blessing!
By Michelle @ 08/13/09 04:14:27 PMreport abuse
SmartyPig
It would be good to get a Clark report re SmartyPig.com which is recommended by such as the NYT financial guy.
By James @ 07/23/09 04:06:43 PMreport abuse
Ally Bank
Has anyone had any experience with Ally Bank? The About Ally link on their website says they are "built on the foundation of GMAC Financial Services."
By Bram @ 07/16/09 04:21:41 PMreport abuse
BOA bogus fees
I had to quit my job last year to take care of my ailing father. Thank goodness I check my BOA bank statement like a hawk, because I noticed I was all of a sudden getting a mysterious monthly $6 fee. After speaking to a rep I found out I was being charged a monthy $6 fee because I no longer had a bi-weekly automatic deposit! I explained the situation to the rep, and they did waive the fee, but I find this unconscionable and outrageous.
By Gina Suarez @ 07/04/09 11:23:28 AMreport abuse
PayPlan Fees
My refinanced mortgage was sold to B of A who is charging me an extra $4.00 per draft to automatically pay my twice monthly home loan of $529.21 each payment!
This is outrageous! I never agreed to an extra $8.00 per month when I negotiated my loan. B of A should be jumping up and down with glee to have me on auto pay that guarantees them on time payments from our excellent credit!

Instead they charge me in effect almost 1% per transaction which multiplied by 104 transactions in a year equals $416.00 per year in fees!

Help Clark!
By Gae Seal @ 07/03/09 03:48:16 PMreport abuse
HSBC rates
HSBC rates are the same as ING. I looked all over their website and did not find the 3.5% that Gabe got. I wish I could find that rate. I wonder if Gabe is getting a promotional rate that is not offered right now. No one is paying anywhere near that rate even with a high balance. The highest online rate I could find is a little over 2% from EverBank.com That is a promotional rate that they are running right now and then the rate will go down. I have had an account with them for a while. I have only called in once and the customer service rep. acted as though he would rather be doing anything other than talking to me, but I am still getting the best rate with them so who cares. If anyone can find a higher rate than Everbank, please post it.
thanks
By Rebecca @ 07/02/09 01:55:04 PMreport abuse
Why are people bragging about 1.5%?
1.5% is pathetic. I'm getting 3.5% in an online savings account with HSBC, no minimums, no fees for anything, no restrictions on withdrawals or deposits.
By Gabe @ 07/02/09 12:20:54 PMreport abuse
ING
Customer service is very very good. But I didn't like their personal questions to collect marketing info. All I mentioned to them that I have a money market account and now I get lots of ING Direct investment spam in my email.
By Bubba @ 07/01/09 08:16:34 PMreport abuse
HSBC customer no service
Recently moved all my accounts from HSBC. After they lost a $5000 HSBC account to HSBC account transfer (they put it in someone else's account instead of mine), I talked to customer service many times. Each time it was someone in India who sneered at the "stupid American" and would not listen to what I was telling them. They kept telling me to wait for the money to get to the other account (this even after 2 weeks had passed. I knew from past transfers that they'd made a mistake and could see from the transfer number what they'd done, but I couldn't get anyone to look at it. It took me talking to more than 6 different people before I got a guy who sounded American who actually listened to what I was saying and realized I was right, they'd given $5000 of my money to someone else. Still didn't get an apology, but at least I got my money back. I started shutting down all my HSBC accounts that day. WHEW! Never again.
By Rhonda @ 07/01/09 08:51:33 AMreport abuse
Banks & credit unions
After the B of A started charging 50 cents to check my balance by phone (via automated system, no less--didn't cost them a penny!), that was the last straw in an ongoing NO service list of problems. I changed to a local credit union and have never had a problem. I talk to real people pretty much whenever I need to, their on-line service is adequate (although their bill-pay could be better, but it's free), and their mortgage officers were great at getting a 2nd home loan to pay off a HELOC on our house. Then, when that was paid off, the house was transferred into my ex's name, creating a completely new loan. I then bought a house, so that was a third transaction. All this within three years, and all were problem-free. Can't recommend credit unions enough.
By Elly @ 07/01/09 02:05:00 AMreport abuse
Recommended Bank
I just opened a CD with Nexity Bank of Alabama and there customer service is outstanding.
By charles j. walker @ 06/30/09 10:10:20 PMreport abuse
ATM Fees
The Government used to protect us from exorbitant Bank fees. It is wrong for long time customers to be charged twice when they have to use an ATM not associated with their bank. It seems all ATM's are pricey and it needs to be regulated. These are not times to be gouging Americans.
By Susan @ 06/30/09 03:52:41 PMreport abuse
best bank
In my opinion the best bank is USAA Federal Savings bank. They refund ATM fee's up to $15, no overdraft fees, you can deposit checks online by scanning them in, free checking, free checks. Their customer service is regularly ranked #1. I highly recommend them. They don't have branches, so that is one draw back, but it has never been a problem for me. I don't like going into banks anyway.
By Rick @ 06/30/09 11:43:22 AMreport abuse
usbc
Clark you need to add usbc to cutomer NO
service list. the worst service ever.
By Art @ 06/29/09 05:44:13 PMreport abuse
ING Fees
I really liked ING quite a lot. The used to offer great rates and no overseas fees. Now, their rates are average, and every purchase and ATM withdrawl rings in with a 2% fee. I've paid prolly about $400 in these junk fees so far this year and am looking for a new bank.
By Lee @ 06/29/09 04:21:56 PMreport abuse
Wells Fargo
My experience with Wells Fargo is that they are pathetic. They sent an appraiser to my home for a 10 yr fixed refinance at 4.5%. I received 4 copies of that appraisal from Wells Fargo directly which they will not honor. They undercut the value of my home by $75,000 despite the appraisal that they arranged for and completed. Very poor customer service. Unprofessional bordering on fraudulent.
By Jim @ 06/29/09 03:55:00 PMreport abuse
Happy ING Direct customer
I've had an account since Clark started recommending them a long time ago and have had no problems. I just with the rate would go back up!!!
By Darren @ 06/29/09 02:23:13 PMreport abuse
Emigrant Direct checking account
Based on the good feedback here, I just went to the Emigrant Direct web site. Do they have personal checking accounts? All I could find is that they are a "savings bank". Nothing about checking.
By Steven @ 06/29/09 01:16:44 PMreport abuse
Emigrant direct
I've been extremely happy with emigrant direct as well. They offer decent rates, and their emigrant direct master card pays 1.4% cash back on ALL purchase. If you combine this with a card that pays 5% on gas, groceries and travel, you come out pretty well (assuming you pay them off every month).

- Matty
By Matty @ 06/29/09 12:52:05 PMreport abuse
Schwab
Having been adequately satisfied with my Schwab stock purchases for about a year, I opened 'high interest' checking account with them. Was pleased with (1) rate and (2) reimbursment of ATM fees, even though I did use ATMs a lot. No problems with them; except I asked for debit feature of ATM card to be cancelled - they did lower it to $1 per day. I'm maintaining my local credit union saving and IRA accounts but with pitiful interest rates, Schwab is primary for checking and bill pay.
By J1nc @ 06/28/09 06:04:41 PMreport abuse
Online Banks
Because I am a Costco member Capital One gave me a bonus when I opened my account and the interest is slightly higher than a non-Costco member. I had a customer service issue originally (actually the US Postal Service messed up)and they handled it better than my expectations. So far I am happy.
By Mike in Fremont @ 06/28/09 01:54:56 AMreport abuse
Bank interest
Chase tells me the reason for their pitiful savings rates is that they are strong and don't need the money. Maybe they have a point as the FDIC can take 99 years to return your principal if they so desire.
By Curmudgeon @ 06/26/09 07:20:37 AMreport abuse
FNBO Direct
Since I learned about FNBO from Clark a few years back, I have saved with them and have been very happy with the service. As a public school employee, I am basically unemployed about 10 weeks every year. I use FNBO to put away funds for the summer months when school is out. Some school districts offer a 12 month pay option by holding a portion of an employees contracted salary. I figured that I can save the cash myself and earn some interest even though quite small.
By Randolph @ 06/26/09 12:13:42 AMreport abuse
Wells Fargo
I have nothing t good things to say about wells fargo I do however not trust consumer reports. I have always been treated well by my bank and I will not change.
By Paul Bain Jr @ 06/26/09 12:05:42 AMreport abuse
Box Home Loans.com
Does anyone have experiance with them? Are they a legitimate lender? They seem to have the lowest mortgage rates.
By Ariel @ 06/25/09 11:39:28 PMreport abuse
ING likes you if you have Money..
I was with ING years ago when the orange savings account hit the market. Then I applied for electric orange, was told I didn't have enough money in the ING orange savings account, so they decided to set my accounts to close. Why - because the one time I had a customer complaint about a bank to bank transfer error, instead of resloving the issue, they decided to drop me like a bad lemon. That's fine, because Fidelity Investments has my $$ now, love it, no fees (of ANY kind), debit card, checks...and could care less if I have $100 or $1000 in the bank....and yes, ING sent me a check closing my account for a whopping $1.81! I never cashed it.
By cmenow @ 06/25/09 04:03:52 PMreport abuse
Online Banks
I recently switched from Emigrant Direct (1.55%) to SmartyPig (2.75%). SmartyPig is a money market account, but it has very similar qualities to a savings account (unlimited contributions, no fees, no minimum balance, withdraw at any time).
By Klint @ 06/25/09 03:05:11 PMreport abuse
Online banks
WT Direct is paying me 1.76% on PB Savings
By Ray Wood @ 06/25/09 12:34:54 PMreport abuse
banks,cu
I dont bank alot,cause I aint got a lot.But I changed over to Velocity CU a coupple of years ago,and I'm very happy with them.Moreso than with banks.
By renegadeterry @ 06/25/09 12:07:55 PMreport abuse
Perhaps...
He didn't mention Ally because they only offer savings and CDs whereas ING offers that plus a debit account which would make transactions much more easier for people that need access to their savings for whatever reason.
By anonymous @ 06/25/09 10:58:37 AMreport abuse
ING DIRECT
I'd agree, that as far as banks go ING comes out on top. Have been banking with them for 5 years now. I still deal with BofA, but only for convenience sake.
By Cor @ 06/25/09 10:30:46 AMreport abuse
Wachovia lost my business
When they couldn't explain why their money market account was paying .1%. I now keep just enough in wachovia for immediate access, and then tranfer the rest to ING. I'd totally close the account if it wasn't for the widely available ATM network.
By drew @ 06/25/09 10:10:13 AMreport abuse
Where's Ally Bank?
It's hard to take this list seriously when it doesn't have the online bank with the current highest interest rates by far, Ally Bank!
By Preston @ 06/25/09 01:17:14 AMreport abuse
Bankrates
I listened to this part of the show. I was waiting for you to mention ALLY Bank. (Formerly GMAC) Good rates & good service for CD's. I also am going to transfer savings accounts there.
By ray devoe @ 06/24/09 11:51:31 PMreport abuse
Interest rates
Dollar Savings is with Emigrant, they offer 2.00 APY, the only differece is $1000.00 minimum. Where Emigrat has no minimum, I have both. Plus Capital One, Ing, HSBC, FNBO, they are just places to stash cash, and easy access.
By Guy @ 06/24/09 09:24:49 PMreport abuse
interest rates
Emigrant's rate is 1.55 APY
By Killer @ 06/24/09 08:43:19 PMreport abuse
Emigrant
I have been using Emigrant Direct for a few years now. I'm really happy with them.
By Lisa @ 06/24/09 06:14:33 PMreport abuse
ING Mortgage
Obviously people have had unique experiences good and bad. I have used ING for a mortgage in the past and recently for a line of credit (later converted to fixed home equity). They were always easy to work with and both times sent the title company to my house for signing.
By Derek @ 06/24/09 04:39:14 PMreport abuse
ING
My husband and I use ING for our savings and have had no problems and nothing but great service.
By Juju @ 06/24/09 04:27:24 PMreport abuse
on-line banks
Clark,
You used to recommend EmigrantDirect, what happened?
By julie battenfield @ 06/24/09 04:20:52 PMreport abuse

ING

Im not sure i completely understand it but with ING you have two banks and channel money between ING and another bank. Sounds complicated and confusing

By Jason @ 02/19/10 12:09:22 AMreport abuse

2 registers

They are actually trying to do you a favor -- 1 is actual cks cleared, the other includes cks in process, but not yet completely cleared (in case you'd forgotten that you used your debit card for lunch or whatever...)

By M&W W @ 02/10/10 02:23:56 PMreport abuse

HSBC savings account breach

My savings acct with HSBC was in my name only. I decided to add my husband to the acct. I got confirmation that his name had been added. When I went online to check for his name I found his name and also an unknown foreign name of a beneficiary on my acct.

By Lilbitty @ 01/28/10 06:53:12 PMreport abuse

Schwab's high yield checking

Anyone have any input about this one, ING and HSBC don't seem to fit me. My call to HSBC to inquire about fees left me talking to someone I could hardly understand. The little I could find about ING's overdraft policy didn't sound to appealing, and it looks like they keep 2 registers, "Account Balance" and "Available Balance". It's the major reason I want to leave BofA. While I hope to avoid overdrafts, I'd rather know than not.

By Seeking @ 12/16/09 07:49:29 PMreport abuse

Best Online bank

Just did a search outside of Clark Howard and found some great rates with Discover Bank. Highest one year 1.9 vs ING at 1.3. Any concerns or issues with Discover Bank that Mr. Howard would like to share?

By Money Momma @ 11/07/09 01:35:58 PMreport abuse

ShoreBankDirect

I was just notified today that my online APR dropped from 2.15 to 1.95, but that still seems to be amoung the highest out there.

By M @ 11/03/09 08:32:51 PMreport abuse

Dollar Savings Direct

DollarSavingsDirect.com usually pays the same as Ally Bank, but requires a $1,000 minimum deposit for that rate. EmigrantDirect.com, which is the same bank, usually pays about .25% less, but has no minimum deposit to earn the stated rate. I have had accounts at both of them and liked them. Money transfers requested by 5:00pm are in your linked account first thing the next morning (business days).

By Bob @ 08/23/09 09:13:00 PMreport abuse

Ally Bank

I've had great experience with Ally Bank. Not only can you get one of the highest savings rates out there (currently 1.70%), but you can take out a no-penalty 9 month CD that usually pays .15% more (currently 1.85%). Transfers are a cinch and money gets into your linked account the next business day.

By Bob @ 08/23/09 09:09:18 PMreport abuse

ING used to be good and only for those who do not make honest mistakes.

ING is awful. I used my Electronic Orange account when I moved and used it for my initial expenses. At the time I was out of work and newly laid-off, but was going to repay my checking account ASAP. I paid back over $1100 and was really proud of myself (worked odd jobs and went without here and there). Then, when I went to use my ATM it did not work (even though I had a few thousand in there). I called customer service and they told me that my checking account was closed and that my account was frozen. I couldn't believe it. After all, I had actually paid back the line of credit and instead of acknowledging my efforts, they took their money and deemed me an unfit customer. If you want to put your money in a 'young' bank like ING (they've only been in the US around 10 years), be my guest, but according to the rep I spoke to, they are closing thousands of accounts as they 'see fit'. With the economy in the shape it is in, who knows how much more they will close and then finally close operations in the US altogether. That would be a blessing!

By Michelle @ 08/13/09 04:14:27 PMreport abuse

SmartyPig

It would be good to get a Clark report re SmartyPig.com which is recommended by such as the NYT financial guy.

By James @ 07/23/09 04:06:43 PMreport abuse

Has anyone had any experience with Ally Bank? The About Ally link on their website says they are "built on the foundation of GMAC Financial Services."

By Bram @ 07/16/09 04:21:41 PMreport abuse

BOA bogus fees

I had to quit my job last year to take care of my ailing father. Thank goodness I check my BOA bank statement like a hawk, because I noticed I was all of a sudden getting a mysterious monthly $6 fee. After speaking to a rep I found out I was being charged a monthy $6 fee because I no longer had a bi-weekly automatic deposit! I explained the situation to the rep, and they did waive the fee, but I find this unconscionable and outrageous.

By Gina Suarez @ 07/04/09 11:23:28 AMreport abuse

PayPlan Fees

My refinanced mortgage was sold to B of A who is charging me an extra $4.00 per draft to automatically pay my twice monthly home loan of $529.21 each payment!
This is outrageous! I never agreed to an extra $8.00 per month when I negotiated my loan. B of A should be jumping up and down with glee to have me on auto pay that guarantees them on time payments from our excellent credit!

Instead they charge me in effect almost 1% per transaction which multiplied by 104 transactions in a year equals $416.00 per year in fees!

Help Clark!

By Gae Seal @ 07/03/09 03:48:16 PMreport abuse

HSBC rates

HSBC rates are the same as ING. I looked all over their website and did not find the 3.5% that Gabe got. I wish I could find that rate. I wonder if Gabe is getting a promotional rate that is not offered right now. No one is paying anywhere near that rate even with a high balance. The highest online rate I could find is a little over 2% from EverBank.com That is a promotional rate that they are running right now and then the rate will go down. I have had an account with them for a while. I have only called in once and the customer service rep. acted as though he would rather be doing anything other than talking to me, but I am still getting the best rate with them so who cares. If anyone can find a higher rate than Everbank, please post it.
thanks

By Rebecca @ 07/02/09 01:55:04 PMreport abuse

Why are people bragging about 1.5%?

1.5% is pathetic. I'm getting 3.5% in an online savings account with HSBC, no minimums, no fees for anything, no restrictions on withdrawals or deposits.

By Gabe @ 07/02/09 12:20:54 PMreport abuse

Customer service is very very good. But I didn't like their personal questions to collect marketing info. All I mentioned to them that I have a money market account and now I get lots of ING Direct investment spam in my email.

By Bubba @ 07/01/09 08:16:34 PMreport abuse

HSBC customer no service

Recently moved all my accounts from HSBC. After they lost a $5000 HSBC account to HSBC account transfer (they put it in someone else's account instead of mine), I talked to customer service many times. Each time it was someone in India who sneered at the "stupid American" and would not listen to what I was telling them. They kept telling me to wait for the money to get to the other account (this even after 2 weeks had passed. I knew from past transfers that they'd made a mistake and could see from the transfer number what they'd done, but I couldn't get anyone to look at it. It took me talking to more than 6 different people before I got a guy who sounded American who actually listened to what I was saying and realized I was right, they'd given $5000 of my money to someone else. Still didn't get an apology, but at least I got my money back. I started shutting down all my HSBC accounts that day. WHEW! Never again.

By Rhonda @ 07/01/09 08:51:33 AMreport abuse

Banks & credit unions

After the B of A started charging 50 cents to check my balance by phone (via automated system, no less--didn't cost them a penny!), that was the last straw in an ongoing NO service list of problems. I changed to a local credit union and have never had a problem. I talk to real people pretty much whenever I need to, their on-line service is adequate (although their bill-pay could be better, but it's free), and their mortgage officers were great at getting a 2nd home loan to pay off a HELOC on our house. Then, when that was paid off, the house was transferred into my ex's name, creating a completely new loan. I then bought a house, so that was a third transaction. All this within three years, and all were problem-free. Can't recommend credit unions enough.

By Elly @ 07/01/09 02:05:00 AMreport abuse

Recommended Bank

I just opened a CD with Nexity Bank of Alabama and there customer service is outstanding.

By charles j. walker @ 06/30/09 10:10:20 PMreport abuse

ATM Fees

The Government used to protect us from exorbitant Bank fees. It is wrong for long time customers to be charged twice when they have to use an ATM not associated with their bank. It seems all ATM's are pricey and it needs to be regulated. These are not times to be gouging Americans.

By Susan @ 06/30/09 03:52:41 PMreport abuse

best bank

In my opinion the best bank is USAA Federal Savings bank. They refund ATM fee's up to $15, no overdraft fees, you can deposit checks online by scanning them in, free checking, free checks. Their customer service is regularly ranked #1. I highly recommend them. They don't have branches, so that is one draw back, but it has never been a problem for me. I don't like going into banks anyway.

By Rick @ 06/30/09 11:43:22 AMreport abuse

usbc

Clark you need to add usbc to cutomer NO
service list. the worst service ever.

By Art @ 06/29/09 05:44:13 PMreport abuse

ING Fees

I really liked ING quite a lot. The used to offer great rates and no overseas fees. Now, their rates are average, and every purchase and ATM withdrawl rings in with a 2% fee. I've paid prolly about $400 in these junk fees so far this year and am looking for a new bank.

By Lee @ 06/29/09 04:21:56 PMreport abuse

Wells Fargo

My experience with Wells Fargo is that they are pathetic. They sent an appraiser to my home for a 10 yr fixed refinance at 4.5%. I received 4 copies of that appraisal from Wells Fargo directly which they will not honor. They undercut the value of my home by $75,000 despite the appraisal that they arranged for and completed. Very poor customer service. Unprofessional bordering on fraudulent.

By Jim @ 06/29/09 03:55:00 PMreport abuse

Happy ING Direct customer

I've had an account since Clark started recommending them a long time ago and have had no problems. I just with the rate would go back up!!!

By Darren @ 06/29/09 02:23:13 PMreport abuse

Emigrant Direct checking account

Based on the good feedback here, I just went to the Emigrant Direct web site. Do they have personal checking accounts? All I could find is that they are a "savings bank". Nothing about checking.

By Steven @ 06/29/09 01:16:44 PMreport abuse

Emigrant direct

I've been extremely happy with emigrant direct as well. They offer decent rates, and their emigrant direct master card pays 1.4% cash back on ALL purchase. If you combine this with a card that pays 5% on gas, groceries and travel, you come out pretty well (assuming you pay them off every month).

- Matty

By Matty @ 06/29/09 12:52:05 PMreport abuse

Schwab

Having been adequately satisfied with my Schwab stock purchases for about a year, I opened 'high interest' checking account with them. Was pleased with (1) rate and (2) reimbursment of ATM fees, even though I did use ATMs a lot. No problems with them; except I asked for debit feature of ATM card to be cancelled - they did lower it to $1 per day. I'm maintaining my local credit union saving and IRA accounts but with pitiful interest rates, Schwab is primary for checking and bill pay.

By J1nc @ 06/28/09 06:04:41 PMreport abuse

Online Banks

Because I am a Costco member Capital One gave me a bonus when I opened my account and the interest is slightly higher than a non-Costco member. I had a customer service issue originally (actually the US Postal Service messed up)and they handled it better than my expectations. So far I am happy.

By Mike in Fremont @ 06/28/09 01:54:56 AMreport abuse

Bank interest

Chase tells me the reason for their pitiful savings rates is that they are strong and don't need the money. Maybe they have a point as the FDIC can take 99 years to return your principal if they so desire.

By Curmudgeon @ 06/26/09 07:20:37 AMreport abuse

FNBO Direct

Since I learned about FNBO from Clark a few years back, I have saved with them and have been very happy with the service. As a public school employee, I am basically unemployed about 10 weeks every year. I use FNBO to put away funds for the summer months when school is out. Some school districts offer a 12 month pay option by holding a portion of an employees contracted salary. I figured that I can save the cash myself and earn some interest even though quite small.

By Randolph @ 06/26/09 12:13:42 AMreport abuse

I have nothing t good things to say about wells fargo I do however not trust consumer reports. I have always been treated well by my bank and I will not change.

By Paul Bain Jr @ 06/26/09 12:05:42 AMreport abuse

Box Home Loans.com

Does anyone have experiance with them? Are they a legitimate lender? They seem to have the lowest mortgage rates.

By Ariel @ 06/25/09 11:39:28 PMreport abuse

ING likes you if you have Money..

I was with ING years ago when the orange savings account hit the market. Then I applied for electric orange, was told I didn't have enough money in the ING orange savings account, so they decided to set my accounts to close. Why - because the one time I had a customer complaint about a bank to bank transfer error, instead of resloving the issue, they decided to drop me like a bad lemon. That's fine, because Fidelity Investments has my $$ now, love it, no fees (of ANY kind), debit card, checks...and could care less if I have $100 or $1000 in the bank....and yes, ING sent me a check closing my account for a whopping $1.81! I never cashed it.

By cmenow @ 06/25/09 04:03:52 PMreport abuse

I recently switched from Emigrant Direct (1.55%) to SmartyPig (2.75%). SmartyPig is a money market account, but it has very similar qualities to a savings account (unlimited contributions, no fees, no minimum balance, withdraw at any time).

By Klint @ 06/25/09 03:05:11 PMreport abuse

Online banks

WT Direct is paying me 1.76% on PB Savings

By Ray Wood @ 06/25/09 12:34:54 PMreport abuse

banks,cu

I dont bank alot,cause I aint got a lot.But I changed over to Velocity CU a coupple of years ago,and I'm very happy with them.Moreso than with banks.

By renegadeterry @ 06/25/09 12:07:55 PMreport abuse

Perhaps...

He didn't mention Ally because they only offer savings and CDs whereas ING offers that plus a debit account which would make transactions much more easier for people that need access to their savings for whatever reason.

By anonymous @ 06/25/09 10:58:37 AMreport abuse

ING DIRECT

I'd agree, that as far as banks go ING comes out on top. Have been banking with them for 5 years now. I still deal with BofA, but only for convenience sake.

By Cor @ 06/25/09 10:30:46 AMreport abuse

Wachovia lost my business

When they couldn't explain why their money market account was paying .1%. I now keep just enough in wachovia for immediate access, and then tranfer the rest to ING. I'd totally close the account if it wasn't for the widely available ATM network.

By drew @ 06/25/09 10:10:13 AMreport abuse

Where's Ally Bank?

It's hard to take this list seriously when it doesn't have the online bank with the current highest interest rates by far, Ally Bank!

By Preston @ 06/25/09 01:17:14 AMreport abuse

Bankrates

I listened to this part of the show. I was waiting for you to mention ALLY Bank. (Formerly GMAC) Good rates & good service for CD's. I also am going to transfer savings accounts there.

By ray devoe @ 06/24/09 11:51:31 PMreport abuse

Interest rates

Dollar Savings is with Emigrant, they offer 2.00 APY, the only differece is $1000.00 minimum. Where Emigrat has no minimum, I have both. Plus Capital One, Ing, HSBC, FNBO, they are just places to stash cash, and easy access.

By Guy @ 06/24/09 09:24:49 PMreport abuse

interest rates

Emigrant's rate is 1.55 APY

By Killer @ 06/24/09 08:43:19 PMreport abuse

Emigrant

I have been using Emigrant Direct for a few years now. I'm really happy with them.

By Lisa @ 06/24/09 06:14:33 PMreport abuse

ING Mortgage

Obviously people have had unique experiences good and bad. I have used ING for a mortgage in the past and recently for a line of credit (later converted to fixed home equity). They were always easy to work with and both times sent the title company to my house for signing.

By Derek @ 06/24/09 04:39:14 PMreport abuse

My husband and I use ING for our savings and have had no problems and nothing but great service.

By Juju @ 06/24/09 04:27:24 PMreport abuse

on-line banks

Clark,
You used to recommend EmigrantDirect, what happened?

By julie battenfield @ 06/24/09 04:20:52 PMreport abuse

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Jun 24, 2009 -- Best and worst online banks

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