FNBO rate change

I just received an email from my FNBO account saying that the rate is changing on September 29th from 6% to 5.05%. I am not sure yet how that stacks up against all of the others, but I do know that my ING account just lowered their rates also. This is a large step down, but I believe that FNBO will still be among the highest interest rates in the country. I plan on keeping my account their open, and only transferring money out if I find a higher one.

As I have posted before, if you do not have your money in a high-yield savings account, you are crazy. Regular banks have rates between 1 and 3%, but with the high-yield accounts you can almost double your interest earned. Why would you not want to do that? If you are interested in signing up for a ING account, you get a 25$ bonus for signing up if you ask me for a referral link and I get a 10$ bonus. So feel free to contact me and ask for an ING referral link if you are interested in signing up for that one. It doesn't have the best rate, but it is one of the better-known online banks, and some people feel more secure with that.

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