Are you looking for a higher yeilding savings account?

For a couple of years now, I've known about the ING Orange Savings account. This is an online account that has an attractive yield at 3%. Here is the breakdown:
Advantages:
- There are no minimums- you really get 3% even if you only have $5 in the account
- It is FDIC insured
- Everything is done online, there is no check book...to get money into the account, you have to link up a checking account and do a transfer ( ** Note, it has to be checking, you can't transfer from your brokerage, money market or savings account at other institutions...Example, I'm going to transfer my the cash in my current Money Market ( which is only earning me 1.6%) to my checking account and then transferring it to the Orange Account)
- There are NO account fees

Disadvantage:
- It is easy to move the money back and forth between checking and savings; so if that will tempt you to use the money for that new pair of shoes vs. a real neccessity, look into things that have more handcuffs, like a money market fund at your local broker or a CD.
- There is no Brick and Mortar building to go to and talk with someone..again all done online

So if you are looking for a higher yeilding, online account, check it out.
Or check out this website for a breakdown of other higher yeilding online accounts - This will give you a breakdown of the highest yeilding accounts in your area.

P.S.- While you're at it, the account allows you to set up an automatic savings plan into your checking account- this is a good way to do some forced savings!