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Finance For Dummies

Finance For Dummies offers personal finance information on investing, retirement investing, finance, insurance, credit cards, loans and more. Personal finance education is our goal.

Friday, April 21, 2006

Savings Accounts

Let's say you have saved up some cash and you need it to be in a safe place in case of emergency or you are accumulating money for a large purchase and do not want the value to fluctuate dramatically. This money that you know you will need for one reason or another and you should not invest in the stock market because if it tanks in the meantime you will have less money than you started with.

www.hbscdirect.com, www.emigrantdirect.com, and www.ingdirect.com are some of the most popular online saving account providers. Often you will see commercials on television for their services.

Some offer a better savings rate than www.ingdirect.com, but I feel that the customer service aspect is really worth the lower savings rate. The customer service for other providers will not match ING and they have built a loyal following, myself included. My wife and I are saving money for a home. We could easily put that money in stocks and hope for the best, but we know it is wisest to put it in a place like ING and watch it grow why we wait to purchase a home. Setting up an account is a breeze and if you have any issues while doing it online you can call up ptheir customer service and they will walk you through it. So if you do not care about customer service the other savings account providers that offer a higher percentage rate might be your answer. However, if you are a little hestitant and not 100% sure of yourself and like to you a knowledgeable person to help you www.ingdirect.com might be your answer.

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