Savings accounts
Jun 1st 2008, 4:35 pm
#1
Martin
Thread Starter
Joined: Mar 2007
Posts: 21
Savings accounts
Does anyone have any advice on what US banks to stick some funds with? I want somewhere low risk, like a savings account, for about a year. I can't seem to find any US comparison websites. I already bank with Wachovia and Citibank. Wachovia don't offer a great rate. Citi offer a decent gross rate (4.5%) for 6 months but you need to get a credit card or pay your salary into their account. Any ideas?
Jun 1st 2008, 5:12 pm
#2
Joined: Mar 2003
Posts: 68,280
Re: Savings accounts
Does anyone have any advice on what US banks to stick some funds with? I want somewhere low risk, like a savings account, for about a year. I can't seem to find any US comparison websites. I already bank with Wachovia and Citibank. Wachovia don't offer a great rate. Citi offer a decent gross rate (4.5%) for 6 months but you need to get a credit card or pay your salary into their account. Any ideas?
but interest is dismal ..perhaps a CD ...
my HSBC savings are down to a lousy 3.05%
Jun 1st 2008, 5:30 pm
#3
Banned
Joined: Oct 2004
Location: Santa Monica,CA from Birmingham, UK
Posts: 18,402
Re: Savings accounts
Does anyone have any advice on what US banks to stick some funds with? I want somewhere low risk, like a savings account, for about a year. I can't seem to find any US comparison websites. I already bank with Wachovia and Citibank. Wachovia don't offer a great rate. Citi offer a decent gross rate (4.5%) for 6 months but you need to get a credit card or pay your salary into their account. Any ideas?
Jun 1st 2008, 5:31 pm
#4
Martin
Thread Starter
Joined: Mar 2007
Posts: 21
Re: Savings accounts
Thanks. I also just found a couple of offshore accounts: Alliance & Leicester Isle of Man paying 4.4 gross and Kaupthing Singer & Friedlander Isle of Man paying 4.65 gross
Jun 1st 2008, 5:38 pm
#6
Banned
Joined: Oct 2004
Location: Santa Monica,CA from Birmingham, UK
Posts: 18,402
Re: Savings accounts
How safe are they? You should make sure they are FDIC insured for American deposits. I see Bradford and Bingley are the latest bank in shit street
Jun 1st 2008, 6:07 pm
#7
Martin
Thread Starter
Joined: Mar 2007
Posts: 21
Re: Savings accounts
Fair point. It needs some looking into. At a quick glance they have compensation regulations. I am still in the UK and am moving funds into savings in preparaton for the move to the US. All banking seems a bit shaky. I have friends in banks in the city and they are all sh**ting themselves. One of their firms has just shed 900 jobs in the UK.
Jun 1st 2008, 8:59 pm
#8
BE Site Lead
Joined: Aug 2004
Location: MA, USA
Posts: 92,170
Re: Savings accounts
They are? That's a bugger...I had my piggy bank fund in there when I was a kid, tbh, don't know if I ever took the money out it's been so long 
Anyway, I wouldn't bother with a savings account, tend to be rubbish here, but HSBC usually aren't to bad, especially for new customers...also try local credit unions, they can have good rates, or look at cd's etc...
Anyway, I wouldn't bother with a savings account, tend to be rubbish here, but HSBC usually aren't to bad, especially for new customers...also try local credit unions, they can have good rates, or look at cd's etc...
Jun 1st 2008, 9:38 pm
#9
Banned
Joined: Oct 2004
Location: Santa Monica,CA from Birmingham, UK
Posts: 18,402
Re: Savings accounts
They are? That's a bugger...I had my piggy bank fund in there when I was a kid, tbh, don't know if I ever took the money out it's been so long
Anyway, I wouldn't bother with a savings account, tend to be rubbish here, but HSBC usually aren't to bad, especially for new customers...also try local credit unions, they can have good rates, or look at cd's etc...
Anyway, I wouldn't bother with a savings account, tend to be rubbish here, but HSBC usually aren't to bad, especially for new customers...also try local credit unions, they can have good rates, or look at cd's etc...
http://business.timesonline.co.uk/to...cle4045275.ece
