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Banks losing ground in online savings

The online Savings accounts that lured customers with high interest rates just a few years ago have cut their rates sharply, some are paying less than traditional ones.

Here are the current interest rates,

Bank Account Yield
Discover Bank Savings 1.2%
Discover Bank Savings 1.2%
Flagstar Direct Money Market 1.1
NationWide Bank Money MArket 1.04
Ally Bank Savings 1.0

 

 

[via Wall Street Journal]

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