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Online Banking

Question: As much as anything is "safe" these days, is it safe to open online savings/CD accounts with such companies as "ING Direct"? Sarah, Lakeville, CT

Answer: Yes. For safety and soundness, the key is to make sure that any online bank is backed by the FDIC, and ING is insured by the FDIC.

About the author

Christopher Farrell is economics editor of Marketplace Money, a nationally syndicated one-hour weekly personal finance show produced by American Public Media.
Soma's picture
Soma - Mar 19, 2008

Another good option to check is HSBC direct. They seem to be giving little more in interest.