Parking money [NA]

[alaskaflyer]

With the continuing sad news about the slow death spin of GMAC Bank and ResCap Holdings, I need to park some money elsewhere: in a liquid situation that earns better interest than with my credit union's savings account or CD. I need to have a laddering or other strategy that keeps most funds liquid for three months notice in case I have a job transfer that requires a down payment on a house. At GMAC I was in high-yield savings and shorter term CD's.

Can anyone recommend another Internet bank with rates comparable to GMACbank, that offers EFT (a dealbreaker), or else an alternative strategy? Seems like GMACbank and E-trade have the market cornered on EFT availability amongst the higher-yielding offerings on bankrate.com.

 

[KennyFlys]

ING Direct has had some pretty good rates even on short-term CDs.

 

[mikea]

ING direct is fine as long as you can get through all of the security checks. You'll see that it asks you a LOT of questions.

When I use Firefox it'll log me between mouse clocks "we thought you left."

I wont' complain because I guess this is a case where it's not security theater and it means they aren't going to let phishers get your money.