I'm not sure how new this account is......or if anyone has posted a link. Anyway, looks like a good deal(especially for existing customers)

Link: http://www.bankofinternet.com/Advantage-savings.aspx

Summary:

$100.00 to open account
NO monthly fees
NO account minimum balace requirement
2.50% APY on ALL balances(Effective 06/07/2009)
ACH push/pull from external accounts only
Limited bill payment(3 per month)
ATM card option

I am about to sign up for one of these. It will be to park money (<$250k) that I want to be able to access in a pinch but that will most likely sit there for a long time. Can anybody comment how good or bad this bank's service is?

IrishTomBunny said:My observation is that I just opened a High Yield Account with them for 2.04% or so. Why is there another kind of account that pays a little bit more?So they can attract more $$$ without having to pay 2.5% to existing customers who are too lazy to open a new account. Then, they can fund loans at the lowest possible cost and maximize their profit.

Everytime I try to beat Ally (GMAC) for a quarter to 1/2 point I end up coming back. The last time I did it was with shore bank and they held the money for three days without interest. My "payback" after that was 20 days if they kept the same Delta. Ally credits the same or next day and there is never an issue (and usually the withdraw does not hit for a couple of more days).

No hard inquiry for me.

Rate drop today! 2.50% > 2.25% APY

Well, that did not take long! It would have been nice to keep the rate at least one month.

Heads up: ACH pushes into this account will be rejected if coded as a savings account ... when setting up transfers to/from this account it has to be classified as a checking account at pushing bank. Initial deposit was in limbo for two days before being returned to origination account due to this fact.

wtf, already down to 1.85%!