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Internet Banking: Compare Online Savings Accounts

Kirt Hill -- What is an information age savings account?

The future of banking, as well as many other businesses, belongs to companies that use Internet technology to increase the speed of information and improve customer service.

This is exactly what the best online banks are doing with savings accounts. Internet banks can literally open an account for you in five minutes. Once the account is open, you have a flexible savings account where you can instantly deposit funds for any length of time to earn maximum interest.

What is the best Internet savings account?

Automatic saving is the saving strategy recommended by many financial experts. FDIC insured accounts make automatic saving safe and convenient to do online.

ING DIRECT is easily the best online savings accounts we have seen. All you do is give them your checking account information, and tell them how much to put aside each month. There are no fees because they link your savings account directly to your current checking account. They use Internet technology, and absorb the transfer fees, so it costs you nothing, and there are no minimum deposits. The interest they pay is as high as most certificates of deposit, without any of the restrictions.

For more information about ING Direct, visit:

Kirt Hill is a graduate of the University of Michigan, one course away from an MBA degree at the University of Delaware. He founded in 2004 to promote socially responsible investing.

© 2004 Kirt Hill

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