Back in November, Ames came across this article at CNN Money that asked “Why aren’t you banking online yet?” Well, we were, but we didn’t know we could be getting 4% interest. We were only getting .5% from Bank of America. After reading the article, we figured we’d give EmigrantDirect a shot and signed up for their “American Dream” savings account.

It was rather uneventful actually. We simply signed up for the new account, transfered a little money over to it, and that was that. Transfering money to and from the account takes a day or two, but that is really the only drawback. A couple months ago, they raised their already high interest rate to 4.25%. Needless to say, we were pretty excited. Well, it seems they’ve done it again! Emigrant is now offering 4.5%! That’s the kind of rate you’d expect from a 6 month CD.

So, if you’re trying to start saving money, or have a savings account already, then give it a shot. There’s no fees, no minimum balance, and nothing to lose. Geez, I sound like a car salesman. I’m going to stop now, but really, it’s worth checking out.