More Options in High Interest Savings Accounts. Costco Capital One.

A few weeks ago I wrote about available options to safely park your cash.  Many banks – both traditional and “online only”  – offer significantly better FDIC-insured rates then you might get from the local bank when you manage you account online.  Depending on your situation and your comfort level doing business online, this can be a great money management tool.

Unfortunately, even online interest rates have dropped over the last few weeks.  But one good option to consider if you are a Costco member. Go to Costco’s website, go to the “services” catagory, and sign up for an online savings account through Costco partner Capital One.  The FDIC insured savings account currently pays 2.06% on balances over $10,000.  As an added bonus Costco Executive members get a $60 rebate deposited into the account about a month after you open.  I found Capital One’s site to be easy to use and it efficiently downloads into Quicken.