High Yield No-fee No-minimum Savings Accounts

As some of you know I like to keep an eye on investing and I was doing some research over the past couple days that I thought you all might be interested in.

High Yield No-fee No-Minimum Savings Accounts

Current Rates - As of 2006/10/20 ( These change often so don't take this as persistent )

All of these accounts are online and they are FDIC insured.

Notes:
(Disclaimer: I have and use ING and I have had a quite pleasant experience with them.) Within the last 6 months with the ever increasing Federal Interest Rates, ING has continued to raise its APY but it is not staying competitive with other online banks, at this point. For Instance, 12 months ago ING direct used to be only marginally behind the top dog ( Emigrant Direct ) but now they have fallen back a considerable 0.75%. However depending on how much you have in your Savings account the $25 / $10 referral could outweigh the 0.85% in a given year. Emigrant Direct is clearly the leader in terms of APY but I would caution you with the following items I found out.

Emigrant Direct has been lowered from a 3 star to a 2 star rating on http://www.bankrate.com ( a great resource, by the way )
Emigrant Direct has a mediocre reputation at best for their website / user experience. ( They have just done an upgrade to their website which has been well received. )
They have had complaints about the length of time it takes to create an account.

I haven't heard as many complaints about HSBC, which is a large international bank and is new to the online high-yield savings market. The only complaint that I have heard about them is that their transfers take much longer than either Emigrant or ING, which makes me nervous.

A break down of some of the brief history of these types of High Yield Savings accounts.

Nate's Summary

I wanted to let you guys know about these other offerings as I am looking at them myself. I am most likely going to stick with ING as they have continued to increase their rates, however I am going to keep a close eye on Emigrant Direct and if the complaints reduce, and they continue to pull farther away with the rate I may make the move to them. ( Beware of bouncing around too often based on the highest rate, because I have heard that you can lose any increases in the 10 days transfer time. )

Some great financial resources:

BankRate.com - Compare Savings Accounts / CD rates
ClarkHoward.com - Radio personality with great tips on Consumer protection, debt reduction / elimination, etc...
DaveRamsey.com - Radio personality with emphasis on reducing / eliminating debts.

GMAC Bank has a really good rate offered right now 10/20/2006

GMACbank Money Market account - 5.25% APY

Strictly speaking this isn't a no-minimum account, as if your average daily balance is < $500 then you get pinged with service charges. But that is a pretty tolerable minimum.