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Are online savings accounts any good?

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Online savings accounts have numerous benefits. They offer higher rates of interest compared to checking accounts, and many also come free of administration charges. Most online savings accounts link to your current account, meaning that you can transfer funds between them electronically. The benefit of this is that by transferring funds into a checking account from an online savings account, your money earns a higher yield of interest. The following banks offer online savings accounts. ING Direct, HSBC Direct, GMAC, Citibank. Compare online savings accounts and rates at: http://www.emoneycentral.com

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