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Originally Posted by El Jefe
Anyone have any good recommendations on where to put money you are taking out of Savings? My local PNC is closing, so I am taking all my savings out, and I am going to take it somewhere. I should have done it a while ago, because the interest rate is a joke. I guess I kind of worried putting it somewhere else where I don't have quick access to it.
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There are a number of "high interest" savings accounts out there online. They're still pretty crummy in terms of interest rates (generally 0.5%-1.0%), but it's better than what you'll get at a brick and mortar bank. I'm using Discover Savings right now (1.0%), and I've used Capital One 360 previously (0.75%). Both are really easy to start and use. Transfers between that and your checking account usually take 2-3 days or so.