Elliott C. Back: Internet & Technology

I don’t have a savings account, let alone a high-yield checking account, or an account linked to a money market fund. That’s right, my current annual percentage yield (APY) is a fat 0%. Say that you have a balance of $10,000, and the average rate runs around 3.5%, then you’d be losing $1,877 over the next five years. If you could put in $2,500 a year for the next five years, you’d lose $2783 in essentially free interest.

The Best of National Banks

3.75% APY from WAMU savings

WAMU’s free savings will get you a 3.75% APY, but it comes at the cost of having to setup a linked checking account:

The advertised APY applies to Online Savings only when opened online with WaMu Free Checking or linked to other WaMu checking account. If your checking account is closed for any reason (by you or us), or transferred to another kind of account, standard APYs/rates apply. Online banking and online delivery of statements also required. APY does not apply to WaMu Free Checking Account.

3.50% APY is offered from HSBC savings

Open a savings account with HSBC and you can get a 3.50% APY. There don’t appear to be any other requirements or minimums. Note the offer expires 09/15/08.

3.30% from E*Trade

I like the “>E*Trade High Interest Savings; not only is the yield nice, their online integration top notch, but their terms are quite reasonable:

Annual Percentage Yield is effective 8/3/2008 and is subject to change. A $1 minimum deposit is required to open a new account. Withdrawal limits apply. Online statements required.

3.09% from the Discover Money Market account

Signing up for a Discover Bank Money Market Account will win a nice 3.09% APY, but require a minimum deposit of $2,500. Their FAQ has some pointers:

An initial deposit of $2,500 is required to open a Discover Bank Money Market Account. A minimum average daily balance of $2,500 must be maintained in order to avoid fees.

Local Banks to Check Out

5.01% APY comes if you use them as your primary checking

Northern Federal Credit Union offers a 5.01% APY on their checking account, although you need to sign up for a plethora of additional banking services:

* Receive a direct deposit or conduct an ACH debit
* Receive monthly e-statements instead of paper statements
* Make 10 or more purchases using your debit card (excludes ATM withdrawals)
* Login to Virtual Branch online banking at least one time per month.

Data Table

Other Great Resources

Here are a few links that might help you find the best deals on savings and checkings accounts with great interest rates:

• The Best Online High Yield Savings Accounts
• Which Online High-Yield Savings Account is Best?
• Best Nationally Available High APY Liquid Accounts

Don’t download the Hitman movie with Bittorrent when Apple will give it to you free on iTunes. Just hit “Browse” on the Quick Links on the right side of the main iTunes home page. Then, select “Movies” and “Thriller.” You’ll see the title “Hitman” for free, just 1.1GB away:

You might not want to watch it, Rottentomatoes gave it a 15%.

If you love wearing plastic shoes with tons of holes in them, you’ll love this 25% online coupon code for Crocs:

Click on this link to go to crocs.com.
25% off and Free Shipping.
Enter coupon code Anacomfort at checkout

I wonder if this discount is related to the 40% drop in their stock price:

Nothing like cheap shoes to sell more shoes! Wikipedia describes Crocs as “an American company founded by Lyndon Hanson, Scott Seamans, and George Boedecker in July 2002. Based in Boulder, Colorado, the firm was created to market a lightweight plastic shoe first developed and manufactured by Foam Creations Inc. of Quebec.”