A few days back I opened up a e-money market account @ Virtual Bank. The entire process to open the account took a matter of approximately 4 business days. It takes roughly 15 minutes to fill out an account request form, and a couple of days later, I had to verify two small deposits in our savings account. A day or two after that, our money was transferred. A couple days after that we received the referral money. A co-worker and I made 20 bucks each for the referral, and the referral money can't be touched for 30 days after it's credited. The current rate for the Virtual MMA is 4.60%. I know, I know, it's not the highest out there, Bank deals has a good post about who does, but I made 20 bucks for 15 minutes of work, and it's still a great rate. Well, actually $60 since I referred my wife soon after I opened my account ;-) Here are some of the specs...
$100 Minimum deposit
No Monthly fees
Interest compounded monthly
$20 to sign up with referral
If you're interested in opening a Virtual Bank MMA and would like to get $20 for doing it, E-mail me and I'll send you a referral. I have accounts @ ING and Emigrant direct as well, so if you're interested in referrals for those, let me know. Yes, I'm a rate chaser. I may not be for long though. I've recently opened an account @ Vanguard and have come account that are exempt to federal or state taxes. I'm also considering T-Bills and other various tax exempt, fixed income investments. We're saving for a house to be purchase in a few years, so I'm looking for something liquid and safe. I'm also looking to help soften the dent from inflation and taxes. Jon @ MyMoneyBlog has a great post on things like this.