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ONLINE SAVINGS DIRECTORY

Online savings accounts, money market funds and banking in general are taking the banking industry by storm. Competition on the Internet is forcing banks to offer better deals for the consumer with higher interest rates. Costs are lower for banks allowing the savings to be passed on to both individuals and businesses. It is easy to find some of the best interest rates in the world using our online directory.

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ONLINE SAVINGS DIRECTORY

Online Savings Directory is a comprehensive directory for our online banking information and to also help us to find some of the best

deals in a very competitive market. If we are considering opening a savings account online we are welcome to use our easy reference directory below.

ONLINE SAVINGS DIRECTORY

Educational References:

American Savings Education Council : ASEC is a national coalition of public- and private-sector institutions committed to making saving and retirement planning a priority for all Americans. ASEC brings together public- and private-sector partners to share information on best practices and to collaborate on financial security initiatives. Federal Reserve Bank of Chicago: There is a lot that we should know about Internet banking. It can save our time, money and effort, but it's important to protect our self from potential pitfalls.

Federal Deposit Insurance Corporation : Internet offers the potential for safe, convenient new ways to shop for financial services and conduct banking business, any day, any time. However, safe banking online involves making good choices - decisions that will help us to avoid costly surprises or even scams.

Types of Savings Accounts

Many banks offer a varieties of various savings options,and mainly three kinds are offered. As we decide that which kind of account we want, we can ask our self how much money we like to save and how do we want to access that money. For that we should do a comparison shopping, paying a attention towards fees and how much interest rates are associated with every account.

Basic or regular savings accounts are mainly known as a common types of savings accounts.this types of savings accounts is simple for use.Basic or regular savings accounts are sometimes also called as 'PASSBOOK ACCOUNT' , with a few amount of money. These passbook account mainly don't require a minimum balance and will give us a facility to access the money easily whereas it may be limited to that how much can we withdraw per month without being charged a fee. This types of savings accounts also offer us a low interest rates, so if we want a higher return on our money we should also investigate another type s of savings accounts.

Money Market Accounts: With a money market account, we will receive as higher interest rate than it would with a basic savings account, but we also have to keep a higher minimum balance (the amount differs from bank to bank). we still have easy access to the funds in our account, though the number of withdrawals we can make will probably be limited. In addition, we may have the ability to write checks, but the number you are allowed to write will also probably be limited and the another types of savings accounts is CD ( certificate of deposit).

Now a days,there are various types of savings which had difficult for us to select. The type of savings accounts which will be good for us is dependent upon various factors - like, do we need instant access to our money, how far we can tie our cash up for and do we pay tax or not.

Mostly savings accounts are of five types:

• It is easy to access
• Notice account is needed
• Bonds or Term Accounts is also important
• Regular Saving Accounts
• IS As and Tax-free accounts

FIRSTLY SAVINGS ACCOUNT CAN BE CATEGORIZED AS:
Instant access or easy access accounts

This type of savings accounts provide us a instant access to our money without giving any notice,financial penalty etc. These types of savings accounts are ideal for those people who wants to save their money but access to the cash at short notice can be needed and because of flexibility of this type of savings accounts the interest rates are lower than other types of savings accounts.No notice accounts can be operated.

It is easy to check our rate at least every three months to make sure that if we are getting the best result on our savings or not.



SECONDLY SAVINGS ACCOUNT CAN BE CATEGORISED AS:
Notice accounts

Notice accounts mostly earn a good rate of interest but few amount is needed to give before drawing funds to avoid the penalty and amount of notice which we need to give depends upon the accounts which we have chosen.

Notice accounts are becoming less attractive whereas,instant access accounts have become more attractive and competitive which allows us to draw our money immediately.

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FEATURES OF ONLINE SAVINGS ACCOUNT

Penalties is not needed for withdrawal:
We can withdraw or deposit as much or as little as we like in our Savings Account without penalty.


No minimum term or deposit : Unlike some of our competitor's monthly savings products, we don't have to make a minimum deposit or deposit as regular amount every month to avail of our great rates. It's the perfect place for regular saving or depositing that lump sum amount.

Instant access to our money : At RaboDirect we have instant access to our money whenever we like. It's on demand.

Immediate interest : At RaboDirect interest is calculated daily and allocated annually. Once our account has been opened, we can watch our interest grow by clicking on 'Our Interest' within our secure site.

We're open 24/7 : Because we're an online bank, we're open for business when it suits us. we can log on whenever we like, wherever we like.

One of the worlds safest banks : RaboDirect offers the highest levels of online security in Ireland by using the Digipass. We also offer a no fraud online guarantee, and we're a Triple AAA rated bank so we know our money is in safe hands.

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HOW ONLINE SAVINGS ACCOUNT IS BENIFICIAL FOR US??

We can save our money through online savings account because if we keep that money with us than it can be spent. Online savings account will help us to utilize our unnecessary goods which are purchased and we don't want that for current use. and if we need that for future than we should know that what benefits will we get by opening that online savings account. To know more about online savings account contact: http://payal-accountsinformation.blogspot.com/2009/09/now-let-us-take-look-at-some-of-most.html

HOW ONLINE SAVINGS ACCOUNT IS BENIFICIAL FOR US??

Now, let us take a look at some of the most important benefits that we will get to enjoy as an account owner when we take advantage of the high interest rates offered by our bank for setting up an online savings account:

1. We can take advantage of high interest rates. Again, the economy is rough on almost every country these days - but despite the fact that the interest rates plummeted over the past couple of years, it still is a good financial move to open an online savings account.

As compared to other forms of saving - like placing our money in a vault or something similar where we physically store our savings - having an online savings account will allow our funds to earn over time through the still high interest rates.

2.We can easily separate our checking account from our online savings account. Despite the high interest rates of on online savings account, some individuals still fail to use it as their primary means of saving money because they do not keep a separate checking account for their expenses.

If we are serious in using the high interest rates of an online savings account to boost our rainy day funds - then keeping a separate savings account and spending account is worth the effort.

3. When we place it in an online savings account, our money is both safe and available when we need it. No matter what our long-term and short-term financial goals are, an online savings account with high interest rates is flexible enough because the funds are liquid and secure.

With all the benefits that it provides, setting up an online savings account with high interest rates is a good move with so that we can easily reach our long-term and short-term financial goals. To know more about advantages of online savings account follow this link:http://payal-accountsinformation.blogspot.com/2009/10/advantages-of-online-savings-account.html

HOW ONLINE SAVINGS ACCOUNT IS BENIFICIAL FOR US??

Banks are now bored by working in their old ways or methods. Now every banks want to do their work with new technologies and with different method like online savings account which is little bit risky but the result is also better than others.

Now for the young investors online savings account is the best and those who have never done savings activities have now started doing it for the betterment of their future. The online savings account does not have any limitation of advantages. It is limitless.

Now public can open an account with few money also and can do a much management from that savings account using their different online features.

There is the important part that to take the advantages of the fantastic interest rates which an online savings account can yield . About 5%is available using many online savings account. These accounts will give a chance to the people to make CD rates by their liquid money. And we don't have to wait for 1 year in order to invest for mature. It automatically matures every minute with an online savings account.

If we are hoping to start a savings future, we should try an online savings account.we will be satisfied with the result and the returns. For this we need a few technological knowledge, and then we will feel easy to get into online investing.

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WHAT ARE THE REASONS BEHIND THE LIMITATIONS OF ONLINE SAVINGS ACCOUNT

FNBO Direct is a division of First National Bank of Omaha

We must deposit a minimum of $1.00 to open this account.

Interest is paid on collected balances eg.checks.

We use the daily balance method to calculate the interest on our account. This method applies a daily periodic rate to the principal balance in the account each day.

Interest for our account will be compounded and credited monthly.

Currently, the interest rate on our account is 1.49% with an annual percentage yield of 1.50%*.

Our interest rate and annual percentage yield may change.

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WHY ONLINE SAVINGS ACCOUNT ALSO HAVE LIMITATIONS

The first deposit we make to our FNBO Direct account will be subject to a hold.

Funds from that deposit will not be available for transfer or withdrawal until after the tenth business day after our account is opened and funds are received into our account.

Interest, however, will begin to accrue no later than the business day we receive credit for our deposit (typically, this will be 2- 3 business days after the first deposit is deducted from our funding account).

All funds from deposits received via a check may not be available for up to 10 business days from date we deposit the check into our FNBO Direct account. Interest, however, will begin to accrue no later than the business day we receive credit for your deposit.

A NOTE ABOUT LINKED ACCOUNTS

We agree:

(1) Not to enroll an external account that anyone else owns or has an interest in (the title on any external accounts must match the title on our FNBO Direct account)

(2) Not to deposit funds other than our own funds into our FNBO Direct account.

WHY THERE IS A LIMITATIONS OF ONLINE SAVINGS ACCOUNT

We may require additional verification of our ownership of any external linked account at any time before or after enrollment and before or after allowing any transfer activity with respect to that account (this is referred to as "Additional Verification").

By requesting to enroll an external account, it:

(1) Authorize us to tell the account-holding institution that consent to their disclosure, to us and our representatives, of any information that we request about you or the external account.

(2) Agree to cooperate in Additional Verification, including by promptly providing any identification and/or other account documentation that we may request.

Among other things, this means that we may not establish an account for another person in a representative capacity. For example, we may not establish an account as an agent, trustee or broker for another person.

Generally, we may have to make no more than six transfers and withdrawals from the account during any statement cycle.

WHAT ARE THE LIMITATIONS OF ONLINE SAVINGS ACCOUNT

If our Next Day Transfer Service is made available on our account, we may use that service to transfer up to

(i) $2,000 from our account in any one transaction.

(ii) $2,000 from our account on any one business day.

(iii) $10,000 from you account in any one month. Our Next Day Transfer Service allows for expedited processing of certain transfer request that we receive prior to 3:30 p.m. C.S.T. on a business day; that service option will show on the "Request a Transfer" screen if our account is eligible.

We can see the Fees Schedule in this disclosure for more information.

Upon closing of an account, all interest accrued will be paid on the account without penalties.

Foreign ATM fees will not be assessed if the transactions occur at any ATM branded with the (Circle One) logo.

Fees may reduce earnings.

LIMITATIONS OF ONLINE SAVINGS ACCOUNT

Best Online Savings Account Reviews and Comparisons

Opening an online savings account is a great way to earn some extra money on our cash balances. Most of these accounts are designed to “piggy-back” onto our existing checking accounts. If we don’t need the money immediately, we can transfer the money into the savings account, and when we do need it, we can transfer it right back. Sometimes we can even pay bills directly from the account.

While the following list isn’t exhaustive, these are the more well-known ones with no minimum opening value, no minimum balances, and no monthly fees. In other words, the most simple and hassle-free accounts.

HIGH-YIELD SAVINGS ACCOUNT

High-yield savings

We can earn a higher rates than traditional savings and can get a free online banking transactions.

1. Open with $0
2. No minimum balance
3. No monthly fees
4. Daily compounded interest for maximum earnings

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THE ALLY DIFFERENCE

We don't have monthly fees. Ever. Some banks charge a monthly fee if our deposit doesn't come directly from our employer.

We don't require minimum balances. Many others charge a fee if our balance dips too low.

We work to keep our rates high. Other banks often tempt new customers with promotional rates.

We grow our money faster by compounding interest daily. Many others compound monthly, quarterly, or even annually.

SAVINGS ACCOUNT

Savings accounts are accounts which are maintained by retail financial institutions that pay interest but can not be used directly as money ( for example, by writing a cheque). These accounts let the customers set aside a portion of their liquid assets while earning a monetary return.Savings accounts are offered by commercial banks, savings and loan associations, credit unions, building societies and mutual savings banks.

WHAT IS A SAVINGS ACCOUNT?

A savings account typically refers to an account in which one places money to earn a small amount of interest. The savings account funds are usually easily accessible, though some banks charge for withdrawing money early. In most cases, people can withdraw money from a savings account at any time, at least at any time the bank is open, or one has access to the bank.

WHAT IS A SAVINGS ACCOUNT?

The obtained funds which are held in a savings account may not be convenient for demand account like as instead of writing a cheque or using DEBIT CARD some one needs to visit an ATM or BANK BRANCH. Therefore this transfer system is quiet easy where savings account is also termed as ''near money''.

Some savings accounts require funds to be kept on deposit for a minimum length of time, but most permit unlimited access to funds.

About 65% of people in the United States have savings accounts.

COSTS

Withdrawals from a savings account are occasionally costly and are sometimes much higher and more time-consuming than the same financial transaction which are being performed on a demand account. However, most savings accounts do not limit withdrawals, unlike certificates of deposit. With online accounts, the main penalty is the time required for the Automated Clearing House to transfer funds from the online account to a "brick and mortar" bank where it can be easily accessed. During the period between when funds are withdrawn from the online bank and transferred to the local bank, no interest is earned.

DEPOSIT ACCOUNT

A deposit account is a current account, savings account, or other type of bank account, at a banking institution which allows money to be deposited and withdrawn by the account holder. These transactions are recorded on the bank's books, and the resulting balance is recorded as a liability for the bank, and represent the amount owed by the bank to the customer. Some banks charge a fee for this service, while others may pay the customer interest on the funds deposited.

MAJOR TYPES

• Checking accounts: A deposit account held at a bank or other financial institution, for the purpose of securely and quickly providing frequent access to funds on demand, through a variety of different channels. Because money is available on demand these accounts are also referred to as demand accounts or demand deposit accounts.

• Savings accounts: Accounts maintained by retail banks that pay interest but can not be used directly as money
  

• Money market deposit account: A deposit account with a relatively high rate of interest, and short notice (or no notice) required for withdrawals. In the United States, it is a style of instant access deposit subject to federal savings account regulations, such as a monthly transaction limit.

• Time deposit: A money deposit at a banking institution that cannot be withdrawn for a period of time. Generally speaking, the longer the term the better the yield on the money.

PERSONAL ACCOUNT

A personal account is an account which is used by an individual for their own needs. It is a relative term to differentiate the said accounts from those accounts for corporate or business use. The term "personal account" may be used generally for financial accounts at banks and for service accounts such as accounts with the phone company, or even for e-mail accounts.

BANKING

In banking in the United States, "personal account" refers to one's account at the bank that is used for non-business purposes. Most likely, the service at the bank consists of one of two kinds of accounts or sometimes both -- a savings account and a checking account.

Banks differentiate their services for personal accounts from business accounts by setting lower minimum balance requirements, lower fees, free checks, free ATM usage, free

debit card (Check card) usage, etc. The term does not apply to any one service or limit the banks from providing the same services to non-individuals.

Now a days, many banks started offering free checking, a checking account with no minimum balance, a free check book, and no hidden fees. This encouraged those Americans who would otherwise live from check to check, to open their "personal" account at financial institutions. For businesses that issue corporate checks to employees, this enables reduction in the amount of paperwork.