From: BigBuck1969 
Newsgroups: misc.invest.financial-plan
Subject: Re: Account for Child
Date: Tue, 12 Jun 2007 04:10:56 -0500
   posting-account=JGWldQ0AAAD75xP3u7sGQ0YAnIFsNW8B
	iQBVAwUARm5jIfl/I4+O31e5AQF4xwIA3GHJKXhn/+lZ0gW11HVqs12pBuGJ06/z
	zGX0s3fvzinuOWDdcw2hYARRM+dRF3dLRSve9JwNjZ/cTOnti876OA==
	=ZPMS

I have an ING Orange account and when I need to draw from it, I simply
go online and transfer funds to my checking account.  It takes 2-3
days.  Currently yielding around 4.00 which is low compared to some
others.  Make sure to check their terms to see the difference and if
their higher rates are introductory rates (which I've also seen).

5.36% - http://www.amtrustdirect.com
5.25% - https://savings.eloan.com/savings
5.05% - https://www.emigrantdirect.com/

Those were the best I found searching quickly.

Good luck.


On Jun 11, 12:37 pm, PeterL  wrote:
> On Jun 11, 1:56 am, pixel_a_ted  wrote:
>
> > One of my kids is starting to earn some money at a job while he is in
> > school, and I was looking for suggestions on where he might deposit
> > the money so that it makes a competitive rate of return (say 4 to 5%)
> > while remaining fairly liquid. The local banks typically don't pay
> > much interest in savings accounts. He is considered a minor, so it
> > would be a custodial account. The minimum deposit would have to be
> > about $2,000 or less.
>
> > I was considering one of the high interest money market accounts at
> > some of the banks that you can apply to online, but that's not really
> > practical as he or rather I would have to write a check each time he
> > wants to get at some money, and then there are limitations on the
> > number of checks per month.
>
> > Thanks.
>
> Go to Bankrate.com and see who has the best money market acct. rate.
> The national average is 3. something % now.