Elliott C. Back: Internet & Technology

Best High Interest Yield Online Savings Accounts

Posted in Deals & Savings,Finance by Elliott Back on August 3rd, 2008.

I don’t have a savings account, let alone a high-yield checking account, or an account linked to a money market fund. That’s right, my current annual percentage yield (APY) is a fat 0%. Say that you have a balance of $10,000, and the average rate runs around 3.5%, then you’d be losing $1,877 over the next five years. If you could put in $2,500 a year for the next five years, you’d lose $2783 in essentially free interest.

The Best of National Banks

3.75% APY from WAMU savings

WAMU’s free savings will get you a 3.75% APY, but it comes at the cost of having to setup a linked checking account:

The advertised APY applies to Online Savings only when opened online with WaMu Free Checking or linked to other WaMu checking account. If your checking account is closed for any reason (by you or us), or transferred to another kind of account, standard APYs/rates apply. Online banking and online delivery of statements also required. APY does not apply to WaMu Free Checking Account.

3.50% APY is offered from HSBC savings

Open a savings account with HSBC and you can get a 3.50% APY. There don’t appear to be any other requirements or minimums. Note the offer expires 09/15/08.

3.30% from E*Trade

I like the “>E*Trade High Interest Savings; not only is the yield nice, their online integration top notch, but their terms are quite reasonable:

Annual Percentage Yield is effective 8/3/2008 and is subject to change. A $1 minimum deposit is required to open a new account. Withdrawal limits apply. Online statements required.

3.09% from the Discover Money Market account

Signing up for a Discover Bank Money Market Account will win a nice 3.09% APY, but require a minimum deposit of $2,500. Their FAQ has some pointers:

An initial deposit of $2,500 is required to open a Discover Bank Money Market Account. A minimum average daily balance of $2,500 must be maintained in order to avoid fees.

Local Banks to Check Out

5.01% APY comes if you use them as your primary checking

Northern Federal Credit Union offers a 5.01% APY on their checking account, although you need to sign up for a plethora of additional banking services:

* Receive a direct deposit or conduct an ACH debit
* Receive monthly e-statements instead of paper statements
* Make 10 or more purchases using your debit card (excludes ATM withdrawals)
* Login to Virtual Branch online banking at least one time per month.

Data Table

APY Bank Minimum Credit Check ACH Terms
5.01 Northern Federal 1 N Y Direct Deposit, estatement, 10+ purchases, online login once/mo
3.75 WAMU 1 N Y Requires linked free checking account
3.5 HSBC Direct 1 N Y None
3.3 Etrade Complete Savings 1 N Y $25 opening bonus
3.09 Discover Money Market Accounts 2.5k N Y None
3 ING Direct 1 N Partial (Outgoing only) None

Other Great Resources

Here are a few links that might help you find the best deals on savings and checkings accounts with great interest rates:

Google Consolidates Account Login Information

Posted in Google by Elliott Back on January 18th, 2006.

Adwords Merges Accounts

Adwords is mergins your old adwords login with the standard Google login. Adsense has not switched over yet. Now I have adwords, gmail, and analytics all using the same log in information. Why is this a good thing? It lets you treat Google as a unified services provider.

Marijuana Is Bad For You

Posted in Crime,Health,Life,Science by Elliott Back on August 10th, 2012.

I wrote a long time ago that cannabis sativa may not be good for your health, and today I see that the University of South Wales, Sydney has published a research paper titled Heavy teenage cannabis use linked with anxiety disorders in late 20s. The article cites a noted relationship between teenage weed use and late-20s anxiety mental disorders:

Teenagers who smoke cannabis weekly or more are twice as likely as non-users to have an anxiety disorder in their late 20s, even if they stop using, a study of 2000 Victorian teenagers has found. […] [T]he really striking finding say the authors is the persistent association between frequent teenage cannabis use and adult anxiety disorders up to a decade after cannabis use has ceased. The relationship between cannabis use and anxiety disorders was present even after the researchers took into account other possible explanations such as mental health problems in their teens or other drug use in their twenties.

The researchers note that causation has not yet been explained:

Professor Patton, lead investigator of the 2000 stories cohort, said that the findings could be explained by lasting changes to brain function caused by introducing cannabis at a time when the brain is developing rapidly. Equally it could be that the very factors which predispose people to use cannabis early also predispose them to common mental health problems.

The study itself notes a possible positive note:

There were no consistent associations between adolescent cannabis use and depression at age 29 years.

You can read the research paper (PDF) for yourself to get the dirty details.

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