If you want truly paperless banking and a great interest rate, follow the big orange ball to ING Direct. ING is an online only bank that offers you savings, checking and Electric Orange accounts. Their interest rates are on average 9 times more than most national banks. This is banking made easy. I'm one of those people that is addicted to savings. It's such a good feeling to check my statement and see the tidy sums I've built with ING's help. For some strange reason it is easier for me to save with ING, than with any of my offline banks. Maybe it's just the great services they offer.
There is no minimum deposit to open your account, plus you can be set up in 5 minutes. The first account ING offered was savings. The rate is 4.30% annual percentage yield. All deposits are federally insured for up to $100, 000.00. There are no hidden charges or service costs for banking with ING.
Electric Orange offers a "Make money, while you manage your money" package of services. The interest rate starts at 3.49% for $49.00-999.99, $50, 000.00-999, 999-4.90% annually and 5.0% for $100, 000 or more. You get an Orange (MasterCard) debit card, worldwide ATM access, and e checking for instant pay all for free. I love the line of credit which helps handle occasional overdrafts without penalty.
Both savings and Electric Orange are linked to your external bank account, making transferring money between the two easy and fast. Used wisely and utilizing the "pay yourself first" philosophy, in a short time, you'll find that even an initially small savings will grow into a tidy little sum. I did the two times a month auto deposit of $20.00 each. Just this small amount grew very quickly within that first year.
ING also offers mortgages, investing and home equity loans, making this online bank the ideal place to plan major long term goals. Used wisely, the opportunity is there for to consolidate most of your primary financial planning all in one safe, secure and consumer friendly bank. Millions have grown their money with ING since it opened online. If you are serious about investing in your future simply log on at: http://home.ingdirect.com/images/demo_eo.html to watch their video.