Word: virtualbank
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...historically lagged behind money funds' yield by about 1 percentage point, according to money tracker iMoneyNet. But banks have become aggressive and now offer equivalent yields--at times even better ones. Bankrate.com shows some good deals, such as one from ING Direct currently yielding 2.10% annually and one at VirtualBank that pays 2.15%. David Yeske, a certified financial planner in San Francisco, points out that high yields from Internet-only banks often come with restrictions, like no paper checks. Peter Crane, vice president at iMoneyNet, also notes that people living in high-tax states like California, New York, Massachusetts...
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