investing small bucks

[unfoldable]

Ok, i guess i need some help. I read the following comment at El D's forum and realized that i am guilty of that error:

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2) Don't leave any money in a B&M bank savings account. You're typically getting <1% return on this cash - absolutely no point. Get those funds in a high-yield online savings account ASAP. In fact, you really don't need more than emergency money in your checking account; the online savings are almost completely liquid, ATM card and everything. I know people who leave five figures in checking accounts as a matter of practice. It's seriously burning money. There is no upside to this whatsoever.


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So the question is: what are some good currently available "high-yield online savings accounts"?
We are talking about 10k EUR. I am not too risk averse, but not willing to spend too much time into investing. Money should stay more or less liquid and available (30 days would be the maximum i could accept). The offering company should be more than remotely reliable. Any suggestions? If you have something better than an online savings account let me know.

I live in Germany and am not familiar with most of the terminology here, so a forum search without good keywords didnt get me too far.

thanks in advance

[polkaface]

ING (ingdirect.com) is typically the best known of the internet banking sites. Their orange savings account is at 4% for balances below 50k US.

Not sure about any european based options.

[mattnxtc]

I would look around...I would think you can do much better than 4%

[hlacheen]

HSBC is ~5%.

[SomethingClever]

[ QUOTE ]
I would look around...I would think you can do much better than 4%

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ING is actually 4.5%.

[aitchie]

there's probably a german website that compares all the different german bank accounts and their rates. try googling.

I live in the UK and there's plenty of sites like these that compare all the best interest rates.

most people on here normally talk about US bank accounts and even if you could set one up you would probably lose money changing your euro's into $ and back.

[catalyst]

ING, HSBC, and Emigrant Direct seem to be the three that come to mind

[unfoldable]

Thanks for the tips so far.
I realized that it is more difficult than i thought.
German banking sucks:
You could get like 4 % max at some bank accounts but only for a promotional first 1/2 year, then it goes down, usually to 2,5 %. Or I open an account with constant 3.little bit %.
Dont know if I could open an US-account just like that - and if it would be worth the effort, considering the possibility that they drop the %.
So i guess i will have to find something else that makes me 5 % without being tied to the product for years.
(I actually dont need those 10k currently, looking at them for 18 month now).
Still open for suggestions...thanks

[Nomad84]

I think quite a few people around here actually take advantage of the promotional rates at several different online places. They'll take the highest rate until the promo runs out, then move the money somewhere else. Personally, I have a Vanguard account for my Roth IRA, so I set up a taxable account there for savings. I keep my savings in their Prime Money Market Fund. Last time I checked, it was yielding around 5.1% and it is accessible within a couple of days. My Vanguard account is linked to my bank account so I can easily transfer the money back to the bank if I need it. I also have it set up to automatically take money from my bank account every week to add to my savings. It isn't the highest interest rate available, but I'm not willing to put out there effort to move money around every few months for another .2%. I'm also not wild about opening multiple online savings accounts, although that might sound odd from someone who has had so many poker room and casino accounts...