Online Savings Account

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

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

How Much Money Can I Gain?
You can use my Ultimate Rate Chaser Calculator to estimate how much extra easy money you’ll be earning by switching to one of these accounts. Chances are your current checking account pays next to zero interest. Just type in 1 day for “days of lost interest” if you aren’t sure.

Brick and Mortar Banks
If you already have your checking at one of these banks with a significant number of physical branches, then it’s almost a no-brainer to open one of these up since you’ll be able to keep all your money at the same place and earn more interest at the same time.