When I was first putting effort into managing my finances I was reading all these things about online banks. Most people were with ING & HSBC but the rates weren’t as good as I really wanted. After much research I found iGoBanking, at the time their rates were at the top of list and at 1.85% APY (as of 04/05/2009) are still extremely competitive.
About the Bank
iGoBanking is the online banking arm of Flushing Savings Bank, a brick and mortar bank headquartered in Lake Success, New York. Flushing Savings Bank was originally organized in 1929 and is currently a division of Flushing Financial Corporation (NSDQ: FFIC). They have been FDIC Insured since July 1, 1943 (FDIC Cert 16049).
Sign Up
It has been a while since I signed up but it was simple and all on line, I was able to fund directly out of another account and only had to fund with $1. There were some issues regarding discrepancies in my wife’s name and public record so I had to deal with their customer service department, all of which was very easy and they were very helpful. Once you are all setup you can login and be presented with your summary page:
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