September 12, 2011

Category: Money Management

Straight Talk: The high yield savings account you need to know about

The real high-yield savings option 

Negative economic news is all around us! Dismal employment forecasts, the trauma of Irene as well as the debt ceiling debacle have continued to lower overall morale.  I am sure many of us are rethinking our savings strategies for quite some time.  I sat home one evening looking at my savings details, and I noticed that one of my money market savings accounts had accumulated a total of $1, yes one dollar, in interest after 2 years! This is an account which contains several thousand dollars on deposit! I was horrified and angry for not being more careful and started to search online for higher yield savings account options. 

I read numerous articles that highlighted the best banks and credit unions. To my dismay, all the articles I read reported dismal returns of 1%-1.26% APY. Just last week, as I was setting up an automatic transfer of funds onto my ACE Elite Visa® Prepaid Debit card, I saw a link to Netspend's 5% APY Optional Savings Account. I couldn’t believe it and made sure I did all the research.  Ever since, I’ve decided to let readers know about this incredible little-known savings option. 

 With the ACE Elite Prepaid Debit card, cardholders can put money aside by enrolling in the Netspend Savings Account which pays a very generous  5.00% APY- amongst the highest interest rates available in the United States today. This option is FDIC-insured and issued by federally-regulated banks. It just can't get better than this! If you are like most people who are getting very disappointed with current non-existent rates of return offered by traditional banks, there is no better alternative-  it only takes a few minutes online:

  • Apply online for the ACE Elite Prepaid Debit Card
  • When you receive your card, set up direct deposit - you will receive an email reminder!
  • Then call 1-866 387-7736 or Login at AceEliteCard.com to set up automatic deposit into the savings account.
  • Be sure and read up all the details regarding the savings option on the Netspend website!
You are now on your way to earning better already! And don't forget to spread the news! By Ritu Mehta, Editor ACE Cash Express Money Management Tips