Revolle

One of the most important aspects of financial planning is being prepared for emergencies.  It’s wise to have some liquid funds available in case something unfortunate happens.  A medical emergency, for example, or an expensive car repair, or being laid off can wreak havoc on monthly finances.

Putting money aside for an emergency doesn’t mean that money will stop working for you, though.  While the interest rates available on savings accounts offered by traditional banks are particularly anemic right now, there is another option available.

Reputable online banks offer accounts with higher interest rates, quick account access, lower fees (or none at all), and excellent security.  Some don’t even require a minimum balance.  Ally Bank offers the competitive annual percentage yield of 1.85%, charges no fees, requires no minimum balance, and is FDIC insured.  HSBC Direct offers a 1.55%  APY, also with no fees or minimum balance, and HSBC itself has an excellent reputation, boasting 100 million customers worldwide, with branches in 85+ countries and territories.

The online application process is a simple one, and with many of these banks offering the option to deposit by bank transfer, by mail, or through affiliated ATMs, the motivated consumer can begin saving today.